Instruments Tuning Up
One of the industry sub-groups really beginning to flex its muscles in the
wake of the recent Nasdaq rally is the Scientific Instruments group. This diversified
collective contains issues like Keithley Instruments
(
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PowerRating), PerkinElmer
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and even a biotech, PE Biosystems
(
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PowerRating). Some of the equities in this area
doing well lately are EXFO Electro-Optical
(
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Digital Lightwave
(
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PowerRating), both of which have gained more than 100%
in the past six days.
Further bolstering the case for DIGL are the two gaps upward, a
breakout above two resistance levels and no potential resistance until around
the level of 70.
A comment e-mailed to us by TradingMarkets.com contributor Gary
Kaltbaum piqued my interest even further as to the growing strength of certain
techs:
“Along with utilities, health care and insurance, I think
homebuilders are about ready to top. This means a complete rotation out of
last year’s winners into tech. If tech doesn’t last…. this could be a big ouch. I do
think it has legs from here at least in the near term – which these days means
one week or less.”
Food for thought, as both Pulte Homes
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PHM |
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PowerRating) and Kaufman and
Broad
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PowerRating) appear to have rolled over in recent weeks.
See ya Monday,
Duke