China can not save the markets | stockbee

3/06/2009

China can not save the markets


  • A weak bounce yesterday was aggressively sold today. The rumor of Chinese stimulus package was just a rumor. It was a 1000 plus day on Market Monitor, indicating extreme selling pressure. 
  • Only sector which might be buy is gold as those stocks are best bought on pullback.
  • Unless the banking sector bounces back, chances of a bounce sticking are low.
  • Top sectors currently  are :
    • MG113,Agricultural Chemicals
    • MG132,Copper
    • MG135,Gold
    • MG732,Discount - Variety Stores
    • MG738,Auto Parts Stores
    • MG741,Sporting Goods Stores
    • MG745,Auto Dealerships
    • MG821,Multimedia & Graphics Software
    • MG834,Semiconductor-Integrated Cir
    • MG850,-Internet-
    • MG852,Internet Information Providers
  • Bottom sectors currently are: 
    •  MG313,Housewares & Accessories
    • MG328,Office Supplies
    • MG425,Credit Services
    • MG431,Life Insurance
    • MG444,Reit-Hotel/Motel
    • MG447,Reit-Retail
    • MG523,Health Care Plans
    • MG629,Textile Manufacturing
    • MG633,Lumber / Wood Production
    • MG712,Resorts & Casinos
    • MG771,Major Airlines
  • Stocks within lcosing distance of 52 weeks currently are:
    AIPC
    AZO
    CVTX
    CYCL
    DLTR
    EGO
    FDO
    IAG
    IDEV
    INSM
    IWOV
    MIN
    MYGN
    NFLX
    OCN
    ORLY
    PSD
    STAR
    TEVA
    TNDM
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