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SectorVue weekend comments for Monday November 16th , 2009
Rocket Man
The Dow Jones held onto Mondays gain finishing up 247 points and the NDX finished up
58 points. The Russell index RUT is still lagging and holds the key to the January effect
which begins to favor small cap stocks at this juncture.
Sector Action for the week was plus 1106 with all Sectors up except Natural Gas XNG.
The Market Barometer held the bounce but is at a lower high.
Rydex Alerts- Took profits on the bullish positions and went short toward the end of the
week. Expecting to flip back and forth during the upcoming Expiration week.
Short term Trading indicator- Market Breadth Oscillator and Trading indicators topped out
midweek but avoided confirming a Sell signal Friday.
Market Breadth - Cumulative Market Breadth is holding in bullish territory.
INTERMEDIATE TERM TRENDS- Neutral
INTERMEDIATE OSCILLATOR - Made an interim high Weds Nov 11th.
Both the Cumulative Breadth and the Market Barometer are at a crossroads. Expiration week
usually adds to the volatility yet what this market needs most is to settle down. 150 point gap
openings up or down do not lend themselves position building. It does frustrate the most people
though. With the market being propelled by excess liquidity the question is- Can it maintain this
orbit when the fuel runs out?
Healthcare IHF- Still tops in overall rank but with negative Action showing signs of profit
taking as we have in stocks like Medtronic MDT or Wellpoint WPT.
Technology TXX - Rallied back in the top ranks led of course by Google GOOG and
Apple AAPL. Google in particular made a recent high. Both are ‘must owns’ for Mutual
funds at their respective year ends.
Cyclical CYC- Leapt into the top ten led by Masco MAS. US Steel X , Johnson Controls
JCI and Sears Holding SHLD. This is a signal investors think the economy is improving
and interest rates will stay low for sometime.
Oil Patch XNG, XOI, OSX- Slipped into middle ground in overall rank and price. Oil has a
‘should I stay or should I go’ feel to it.
Ultra ETF’s- BGU, SKF and TWM are tradeable.
Semiconductors SOX- Rallied but sill in the lower ranks. One would think we need to see
some signs of life in Semis to signal a recovery with Windows 7 and all the new gadgets
coming into play.
Banking BKX- Dead last in overall rank although bouncing from an oversold buy reading
on Nov 2nd. We will not see any real price appreciation until we see a rally in overall rank.
The lead stock here is obvious -- JP Morgan JPM.
SectorVue and Rydex alerts are for educational purposes only and do not constitute 'investment advice'. No
representation is made that strategies will produce a profit.
There is risk of loss in all trading.
This email is copyrighted material intended for the addressee only.
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