PRE MARKET

BA down $17 as more orders cancelled. The stock had been shaping up but no way we go near it when there is so much potential headline risk.

The SOX now sticking up in the air here going coast to coast from the lows. Many fundamentalists think they will crash as the calls for bottoms are the cycle will not play out. The market has been saying otherwise. This remains the most important group in the market.

XOP, XLE, OIH tight action for weeks look to go topside.

FINANCIALS start reporting late this week. They continue to lag the move.

Otherwise, market knocking at the door of last year’s highs.