Thursday Morning Update

Yesterday's bounce was pretty weak, but we are getting a much stronger one today, as yet another Euro bailout appears to be in the works. That sent the Euro up, the dollar down, and you know the rest. It's not going to be hard to guess today's leading sectors: XLB, of course with XLE and XLI close behind. XLU is lagging quite far behind, then comes the rest of the sectors bunched together, around 1.5% up. The Nasdaq has a slight lead, the Russell 2000 a bigger lead. Oil and gold are up, treasury yields up and rising.The big news this morning is the GM IPO, and event I am completely ignoring, as I wouldn't buy that zombie with monopoly money.

I have 102 new highs this morning, with breakouts in SOFO, CVC, HBM, DCI, and HOLI. Reporting last night was SPRD, down 2.5%. Reporting this morning are TLVT up 4.6%, and DEST up 10.5%.