Wednesday, August 30, 2006

08/30

1. Overall feeling is still too many shorts, Put/Call =1.03

2. most time ER2's range is from 719.5 to 723.5. However both ES and YM lost steam today and unable to create new highs. Part of the reason could be energy is lower. Technology is gainging momentum. However JDSU warned may cool it a bit.

3. Need pay more attention to gap up/down.

Leading Sectors: Disk Drives +2.14% Semis +1.80% Networking +1.36%
Lagging Sectors: Energy -1.62% Oil Service -2.12% Oil Tankers -2.17%

ER2 chart today:

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