No follow through | stockbee

2/26/2009

No follow through

  • Market could not put a second day of rally together. After a morning gap down, there was a brief attempt at a rally. But it failed in last hour.
  • Market continues to be news driven. The uncertainty surrounding bank rescue package is creating wild swings. 
  • There is lot of chatter about timid Tim. Most mark participants seems to be losing confidence in Timothy Geithner. Bloomberg had a long aticle about him yesterday.
  • If you look at the sector trends, the top sectors  are:
    • MG513,Drugs-Generic
    • MG528,Medical Practitioners
    • MG725,Broadcasting-Radio
    • MG738,Auto Parts Stores
    • MG739,Catalog & Mail Order Houses
    • MG741,Sporting Goods Stores
    • MG852,Internet Information Providers
  • Stocks out of these showing some life are :
    • MYL
    • WPI
    • GOOG
    • PCLN
    • AKAM
    • SOHU
    • AZO
    • AAP
    • ORLY
    • AMZN
    • CAB
  • The technology sector has been relatively outperforming the broad market for sometime.
  • The bottom sector are:
    • MG313,Housewares & Accessories
    • MG325,Paper & Paper Products
    • MG328,Office Supplies
    • MG444,Reit-Hotel/Motel
    • MG629,Textile Manufacturing
    • MG712,Resorts & Casinos
    • MG771,Major Airlines

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