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Thursday, October 20, 2011

Thursday Morning Update

One of these days the market is going to pay attention to the economic reports coming out (probably when they tart reporting non-bs numbers) but for now it's a waiting game for the next Euro bailout rumor, I have us in a pretty wide range here, with 1190 at the bottom, although I think we are unlikely to go that low anytime soon. This morning the leading sectors are XLU and XLP, lagging are XLK and XLF. Tha Nasdaq and Russell 2000 are both lagging badly. I have oil up, gold down, treasury yields up.

I have 17 new highs so far, with breakouts in CBST, SCSS, and , of all things, WMT. Reporting last night: BWLD up 5%, CBST up 7%, DTLK up 2%, EGHT down 10%, NVEC down 13.6%, Reporting this morning (not confirmed): MLNX down 2.5%, CSH down 4%, ATHN up 0.5%, SYNA down 0.25%. I had CMG scheduled last night, they are actually reporting tonight.

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