Jan 22 - Fri - Stats

The market was down heavy for the third day in a row. Like 2008 and the beginning of 2009 there was no uptick in sight, because of fear, but this time of the political kind.

DJIA -10172.98 DJT -4005.08 DJU-383.99

MARKET INTERNALS
NYSE-The advancers became increasingly paltry this week and ended with 559. 2530 declined and only 80 made new highs with a slight increase of new lows at 6. Activity did pick up today at 1,489,617,782 (keep in mind, last Friday had less volume at 1,407 million shares traded). Uptick volume was 161,475,230 and downtick volume was 1,299,730,682. Top 100 shares traded-#1, Citigroup, 654,003,227. #5, JP Morgan Chase at 106,625,183. #10, Sprint, 55,696,937. #50, Alcatel Lucent, 17,848,958. #100, Coca Cola, 11,775,504. Notes-The volume for the top 5 were very high, but compared to yesterday the other top 100 volume were lower. So possible discrepancy in volume may show demand next week in the majority of issues.

NASDAQ-The advancers increased from yesterday to 704 and the decliners decreased to 1954. But highs plunged more than 40% to 42 with an increase in lows to 15. Total activity was about the same as yesterday, 2,817,623,439. What is concerning is the up volume as advancing issues increased, the volume decreased to 445,032,043. Does that mean only smart money took a shot here? Down tick volume picked up to 2,355,273,980. Top 100 shares traded - #1, Intel, 116,277,434. #5, Applied Material, 48,104,411. #10, Apple, 31,427,972. #50, Broadcom, 11,167,267. #100, Brigham Exploration, 5,179,335. Notes-Like the NYSE the top 5 were heavily traded as the rest traded slighly less than yesterday.

Diary-Midwestern banks were up or relatively strong. Again, my intuition says that whatever the Democrats will do, they will be funneling money to the industrial heartland. Stocks are on sale; especially on the Nasdaq. Even if this is the next leg down don't short the market, it happens too quickly. Be a shareholder, even if it is for one day. For instance, AMD, it has had appreciation this year of over 400%, but can only go down 100% if it does go bust but will it? It has debt, but also a billion dollar payout from Intel. Intel doesn't want it to go broke or it will face additional anti-trust legislation. As I tell my friends, remember Apple was bailed out by Microsoft in the last bear market.