Jan 8 Stats

Stock Indices: DJIA 10618 DJT 4222.26 DJU 396.31 SP500 1144.98 Global Dow 2046.99

Yields: 2yr 0.976 10yr 3.836, equates with a corporate P/E of over 25

Key prices: EUR/USD 1.4528 USD/JPY 92.18 Gold 1155.7 Oil 83.40

Market Stats:

NYSE: 1858 stocks advanced while 1183 declined. Of that, 382 made new highs and only 4 made new lows. The activity today was 994,749,061. Advancing stocks were done on shares and 511,977,341 declining issues were heavily sold with 474,519,120 share sold. NOTES: Citigroup led the active stocks today at 623,650,518. The 5th was Motorola at 75,143,724. The 10th was ATT at 27,633,500. Finance had 5 spots in the top 10. The 50th was Alcatel Lucent. And the 100th was El Paso at 7,026,252. Finance and telecommunications were active today. Finance and airlines had a selloff day. Believe this is the market digesting the breakouts. Telecos are going to be in play now. Also, energy and metal stocks started to perk traders interest: X AA and EP. The market has really liked X and AA, but EP may have its shot now. Lastly, MO moved up in the active list on an up day. So, the $20 level can be support for it and its large dividend.

NASDAQ: 1666 stocks advanced while 973 declined. Of that, 163 made new highs and just 4 made new lows. The activity today was 2,145,393,756. Today, people wanted to by tech companies on 2,145,393,756 shares. Volume on the upside was 3:1. 1,517,069,795 shares were purchased on rising shares and 556,538,153 were sold on declining issues. NOTES: Cyclacel Pharm was the heaviest traded on the Nasdaq at 78,732,013. The fifth was Applied Material at 41,212,021. Palm was 10th at 28,349,279. The 50th was Energy XXI at 9,033,361. The 100th was Hercules Offshore at 4,285,492. Microsoft, like Citigroup, is a very active issue and is setting up for a move to $35. Several penny stock biotechs were active today. From my observations, that would mean the market may consolidate while taking a chance on healthcare. Also, Huntington Bancshare which has been heavily traded was yet again in the top 10, at #9, trading with 29,858,135 shares. Semiconductors were moving so National Semiconductor and Taiwan Semiconductor may start to move as well. A financial that went up and broke $3 was American Capital (ACAS). Several energy related companies moved. The 99th was a popular one, Joy Global at 4,328,139. Hercules Offshore is a great speculative stock to trade due to its $10 trading range.