Monday Morning Musings

The market is mixed in the first hour of trading, with the Dow trading slightly lower but the Nasdaq moving into the green, led by tech. Actually, retailers are the strongest group so far, with the retail index +1.7% so far, and many of these names trade on the Nasdaq. Biotechs and semis are also higher.

Amazon (AMZN) is one of the standouts, after Citi (C) said that sales of its Kindle book reader are much stronger than expected. I have never even seen anyone using one of these products. Have you?

Oil is slightly higher this morning, near $115.50, on concern about how the conflict between Russia and Georgia could impact the supply of crude. Natural gas is higher as well. This is helping the energy stocks get a bounce.

Asian markets were higher across the board, except for China, which fell again by a large amount. The dollar is mixed this morning, and the 10-year yield is up a bit to 3.96%.

Last week was a big week in the market. I am still updating my sentiment indicators and will post an update later to see if last week's rally brought out more bulls.

long QLD