Stocks Fall Over Economic, Auto and Oil Concerns

DJIA - 219.35, -2.49% SP500 - 19.14, -2.12% NASDAQ Comp. - 26.94, -1.71% Russell 2000 - 7.42, -1.52% Exchange NYSE NASD Advancing 1,573 1,097 Declining 2,268 1,777 Oil $36.22 -$3.84 Gold $860.60 -$7.90 SOX 208.95 -12.21 VIX 47.34 -2.50 Strongest Sectors: XLU +0.84%...XLV +0.73%...XLP +0.34% Weakest Sectors: XLE -5.82%...XLB -3.84%...XLI -3.51% Sector Watch Up Trending: Sideways: XLE, XLP, XLU, XLY, XLV, XLI, XLB, XLK Down Trending: XLF The DJIA, SPX, Nasdaq and RUT fell during the last 3 hours of trading over continued economic woes, concerns in the auto industry and falling oil prices impact on oil stocks. Once again the VIX did not confirm the drop in the SPX today as the VIX also moved lower to 47.34. Typically this suggests fear is falling which generally is short-term bullish. We will stay tuned on Friday to see if a rally occurs or if the VIX gets rises. Oil closes under $40 for the first time since 2004. Falling demand from global recession continues to fuel the drop in oil prices not withstanding OPEC’s move to cut production. DECK rose again on Thursday 2.67 or 3.78%. PCLN fell just 21 cents on Thursday. Index Commentary The DJIA, SPX, Nasdaq and RUT all closed below their 50 DMAs and above their 20 and 30 DMAs. Stocks to Watch on Friday Leading Stocks: Holding Above 30 DMA AYE…EZPW…PCLN…BAP…DLTR…FLR…FSTR…JCOM…JEC…PCR…ATK…B…IRIS…RTN…SNA…WMS…HAS…JOSB…AMZN…BIIB…BYI…HDB…LFC…PSSI…AMX…CERN…FWLT…GME…MTW…NEU…QSII…VMI…WAB…OI…PPD…CHU…FLS…MBT…RIO…BCO…MOS…NDAQ…ROST…SHW…VIVO…AET…ESRX…NGS…POT…UTX…ANSS…APH…CAM…CCC…CIR…CL…DECK…DV…EPR…ESI…GES…GILD…JW.A…MYGN…NIHD…NILE…NOV…PCP…SINA…SPTN…TEVA… ACL…BLUD…CBST…DNA…HLF…SOHU Moving Above 30 DMA = 5 CELG…LAYN…OSIP…PRGO…PSYS Moving Below 30 DMA = 3 AGN…KEX…SPN Staying Below 30 DMA SWN…MMM…FLIR…PETS…STRA…BCR…AME…CHTT…GIS…PTNR…TECH…AXYS…RCI…AFAM…MON…MTD…URBN…ICLR…CTSH…LNN...MCRS… AAPL…MBT…TECH Thursday’s Action Moving Up: STRA, GS, HANS Moving Down: POT, X, ANR, CF, NUE, FSLR, CNX, GDX, AEM, SCHN, BTU, FWLT, MOS, AGU, MEE, GRMN, CLF, BRCM, MON, PNRA Intermediate Term Market Trend: Neutral – DJIA, SPX, Nasdaq, RUT Short Term Market Trend: Down