Monday, May 7, 2007

Dude Looks Like a Lady

Key tells in today's market:
GOOG testing 465. Market telling us they like MSFT/YHOO.
Leaders in materials and consumer stocks like AA, ATI, XOM and KO.
Transports down with lower energy prices.
VIX moving up with new highs in SPX.
Still watching 120 dollar/yen level for global liquidity.
Nasdaq definitely the laggard, flight to quality of big caps.
These divergences create fuel for the bears, but no trigger yet. Need to see what happens on the next dip. Will the FED create selling event?

Too bad about that Investment Banker at CS. Only made $7.5mm on insider trades. That's why he got fired, should have been up $20mm at least.

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