A weak reflex bounce | stockbee

3/05/2009

A weak reflex bounce

  • Considering how deeply oversold we are, the rally which we saw yesterday was not at all impressive. Typical reflex bounces end at other end of range. That is a very weak and tepid bounce. 
  • The 800 pound gorilla in the market currently is the banking sector. They were making new lows yesterday. Compare that to  November reflex rally, you had them reversing and heading higher. That makes the action of yesterday very suspect. 
  • Top sectors are:
    • MG113,Agricultural Chemicals
      MG132,Copper
      MG717,General Entertainment
      MG725,Broadcasting-Radio
      MG738,Auto Parts Stores
      MG741,Sporting Goods Stores
      MG747,Apparel Stores
      MG821,Multimedia & Graphics Software
      MG834,Semiconductor-Integrated Cir
      MG850,-Internet-
      MG852,Internet Information Providers
  • Bottom Sectors are:
    • MG313,Housewares & Accessories
      MG328,Office Supplies
      MG417,Regional-Pacific Banks
      MG425,Credit Services
      MG431,Life Insurance
      MG444,Reit-Hotel/Motel
      MG447,Reit-Retail
      MG523,Health Care Plans
      MG629,Textile Manufacturing
      MG712,Resorts & Casinos
      MG771,Major Airlines
       
  • Stocks near their 52 week high are:
    • AIPC
      AZO
      CVTX
      CYCL
      DLTR
      EGO
      GMCR
      HOTT
      IDEV
      INSM
      IWOV
      MIN
      MYGN
      NFLX
      NITE
      ORLY
      PCG
      PSD
      TEVA
      TNDM
      VR
      WTR
       
  • Stocks showing up in short scans are: 
    • COCO
    • PALM
    • APOL
    • POT
    • DV
    • ESI
    • USB
    • WFC
    • JPM
    • ORCL
    • NTRS
    • MA
    • IPI
    • KGC
    •  

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