Monday, March 20, 2006

Benign Day

Today's action was pretty benign, given the worry about a post-expiration hangover. Semis were higher, while housing stocks and energy were lower for the day. A big plunge in oil hurt the energy complex.

Financials were also strong again, due to the fact that bond yields are no longer rising, and talk that the Fed could be done raising rates soon has improved the sentiment for financial stocks.

And our old friend Google had its first strong day in what feels like my lifetime. If GOOG can start working its way higher, that could also improve the outlook for the Nasdaq, which has been lagging the other major indexes of late.

long GOOG


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