5-17-09

Big picture wise:

Real estate, financial  and semiconductor/nasdaq are weak.  So, all the sensitive ones are in decline. the encouraging news is that all come in relatively low volumn, it may indicating people are still holding hopes that market will be bounce back soon.  no panic here yet.

for semi conductor and finance, the question is whether this is big drop or simply they entering a consolidation zone.  the answer could come as early as Monday.  for smh, it is at its support around 19 and IYF(xlf etc), it is around upper 40.  I will pay close attention to these area.

what about IYR, will it continue to drop all the way to 29/28?  we will see.