SectorVue comments for Monday November 7th, 2011
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Market Location and Horizon
The Dow Jones finished the week down 247 points while the Nasdaq 100 NDX slipped
44 points Midcap MID stocks are leading the broad based list as investors focus on solid
growth and recent earnings reports. The Volatility index VIX is hovering around 30
shrugging off the European soap opera.
Sector Action for last week was minus 247 with 33 Sectors up and 2 down. The
Market Barometer slipped but recovered nicely and is still in bullish territory. (see graph
on page 4)
Rydex Alerts- In bullish Russell at Rydex.
Short term Trading indicators- Bullish
Market Breadth - Cumulative Market Breadth is bullish and climbing. (see graphs p 4)
INTERMEDIATE TERM TRENDs- Bullish
INTERMEDIATE OSCILLATOR - oversold buy on October 3rd. Managing to stay in
bullish territory and just above the top of the recent trading range.
Spring Forward. Last week the Eurocrises was front and center and the soap opera
continues. Our stock market is beginning to shrug off the news headlines and it appears
investors are beginning to buy on dips after being rewarded for buying the September
lows. If the Eurocloud does blow over we could see a big jump to the upside as shorts
cover and sideline cash comes in.
Income GPS stocks average 10.49% divided with steady price action and positive
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letter including current buys and sells.
Sector and Market Review—
Disk Drive DDX- Number one in overall rank as Sandisk SNDK, Netapp NTAP and
Seagate STX lead the tech rally.
Natural Gas XNG and Oil XOI- Second and third in overall rank . We own Southwestern
SWN, Total TOT and Conoco COP. Took a nice profit on Gulfport GPOR. Looking for
Oil Service OSX Sector to play catch up.
Cyclical CYC- has worked its way into the top ranks as economic reports improve.
Railroad CSX, United Technologies UTX and Chemicals Dupont DD and PPG have
all found strong buyers over the last few weeks and are holding recent highs.
Ultra ETF’s- Ultra SP500 Bullish SSO has been a good buy on daily V bottoms.
Gold XAU- The stocks are up in price from recent lows however the index has not risen
in rank at all which makes the rally suspect particularly with knee jerk rallies on
Biotech BTK - Dead last in overall rank which is holding the Nasdaq back a bit. There is
some takeover activity in Medical Devices IHI and Healthcare Providers IHF like our
Healthspring HS. Biotechs are ripe for cherry picking.
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