Stocks Fall, Rally, Fall, Rally, End Near Unchanged...

DJIA - 11.72, -0.10% SP500 + 2.65, +0.21% NASDAQ Comp. + 3.05, +0.14% Russell 2000 + 1.26, +0.18% Exchange NYSE NASD Advancing 1,748 1,379 Declining 1,338 1,463 Oil $101.18 +$0.31 Gold $764.50 +$19.00 $SOX 322.13 -1.76 Strongest Sectors: XLE +3.37%...XLB +3.20%...XLU +1.87% Weakest Sectors: XLF -1.40%...XLI -0.26%...XLY 0.00% Sector Watch Up Trending: XLP, XLY Sideways: XLF, XLI, XLV Down Trending: XLE, XLU, XLB, XLK On Sunday, stock futures were significantly lower, oil prices fell under $100 a barrel and gold moved higher in electronic trading. Reports that about 10 rigs were destroyed by Hurricane Ike in the Gulf and partial closure of refineries in the area seemed to have little impact on the price of oil. Perhaps the news is perceived as positive since the damage could have been worse than it was. Reports indicate that BAC would acquire MER. It appears that takeover talks of LEH are not progressing and is a major factor of falling futures prices. Stocks fell at the open rallied to turn positive, fell close to the early morning lows and then ralled to end slightly up for the SPX, Nasdaq and RUT and down slightly for the DJIA. That's what we call intraday volatility. Commodity related stocks gold, Ag-related, steels and coal had a strong day on Friday. Watch whether a bounce or break occurs near the recent support lows for each of the indexes: Dow 11,037 SPX 1,211 Nasdaq 2,191 RUT 700 Index Commentary The DJIA, SPX, Nasdaq and RUT conintue in a neutral trading range pattern. Watch the support and resistance levels of the trading range for a break in either direction. Friday’s Action Moving Up: POT, AEM, MOS, MON, AGU, X, CLF, CF, FSLR, NUE, CNX, FWLT, ANR, GDX, BTU, SCHN, MTL, NIHD, PCLN, IPI, MEE, SINA, GRMN, BUCY, SOHU, V, JASO, ESRX, FMCN, AMLN, ONXX Moving Down: PNRA, AAPL, RIMM, MS, GS, MER, DECK, MA, AMZN, SNDK, Intermediate Term Market Trend: Neutral Short Term Market Trend: Neutral