Fly on WallStreet

Is the market being pulled up by underperforming hedge fund managers, who are plowing into tech-- prior to the end of the third qt. ?

Or, is it because oil/nat gas is going lower, leaving the consumer with a few extra dollars to buy 52 inch flat screen tv's ?

Either way, tech stocks are on fire and show little sign of letting up. Stubbornly, I refuse to follow the herd and have resisted buying into this rally. Additionally, I do not believe oil has too much downside. Hence, my position in VLO.

My thoughts on oil is simple: If oil goes down, it will be due to a weak economy. In a weak economy, tech stocks suck stones. Therefore, buying oil (to a certain extent) should be an effective hedge versus my bearish stance on tech.

Only time will tell if I am right.

By the way, today's gains were led by the Airlines, Brokers and Chemicals.

NOTE: Barry points to seasonal weakness for September quadruple witching days.

The following stocks had notable upside moves:

GHL, BFF, SOV, DDRX, HANS, PPC, TSN, CAV, MTRX, COSI, IRBT, RIN, WOS, REV, GEOI, XNL, ABLE, GPRE, BMD, ITRI, CRIS, CTIC, NFLD, EMIS, YMI, ASTM, ACAM, LCBM, THLD, COOL CUTR, BLUD, RNVS, DSCO, GNBT, ORCC, GOAM, ALOY, ICCA, WSSI, DD, ANSW, CNVR, QPSA, HAUP, CACS, ATCO, LVLT, CIEN, TKO, STLW, SNR, GLBC, AKAM, LNOP, AGR, APAT, PWAV, FNSR, HLIT, NWK, WJCI, EGHT, GEX, MRVL, BNG, HOTT, GFME, APN, DIOD, PLNR, TRID, ZRAN, CATS, STX, RNOW, MWY, SWKS, ATVI, VTSS, ASTSF, PLAY, IDTI, UCTT, AXTI, VRGY, ONNN, OIIM, XMSR, IVAC, LCRD, XING, IIT, HCO, NURO, TWLL, CBRX, KNDL, FCSE, SIMC, QMED, QUIK, TMTA, ISIG, IRIS, ZRBA, UPI, CBJ, CTT, RWC, MEH, SGN, BRR, HW, DRL, TV, GGC, SIX and GYI.

The following stocks had notable downside moves:

FIZ, RAH, TOA, JOE, CLB, UTIW, ODFL, RAIL, PACR, PWX, UPL, WRES, DECT, NGAS, JOYG, LNG, CFK, PLLL, BUCY, ATPG, GSX, TXCO, PTR, OMNI, GMXR, DPTR, SWN, QTWW, TRGL, EPEX, WHQ, CPST, BRNC, CNX, BTJ, BJS, BHI, PTEN, ACI, HOKU, ALJ, FTO, BBG, STGN, BIVN, BDSI, IPSU, PEIX, RTI, NTO, FCX, TIE, AL, MDRX, ARNA, VSTA, PRZ, BA, LTON, WWWW, MAMA, SA, VGZ, PAAS, KGC, HL, ABX, AU, NEM, TOMO, PACW, SILC, DPW, CCBL, DBRN, EZPW, CRI, TWTR, NIS, SANYY, BOBJ, LNUX, JDAS, AEHR, LSCC, EMKR, ESST, ACTG, FORM, TUNE, MFLX, COGO, OVEN, DISH, XRTX, ANAD, TWTC, VIV, TAR, VG, MDLK, NOIZ, EPG, OMRI, INWK, DXPE, AMGI, FNET, ADAT, PGWC, ALTH, JRCC, TPO, TRE, GRB, IAG, HVT, SLW, THE, CNX, KWK, MDG and TNT.