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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