In The Blink Of An Eye…
Make no
mistake about it, this market seems as though nothing is going on,
but in the blink of an eye things may pass you by. Currently, the major indices
are awaiting either a follow-through day for the current rally attempt or
another continuation lower.
Interestingly enough, as I write this
column, the Nasdaq has been struggling
through the morning despite the recent strength it has displayed. The main point
I want to make is to continually focus on what may lead
the market. When the market rallies a couple hundred points only to give it all
back, it is easy to get discouraged or bored and decide to pay attention to
other interests. That is exactly what the market feeds on and an industry or
stock may set up just as one looks away. Naturally, when an investor comes back
to see what has been happening, it is too late to get in on a move that has
already begun in a leader.
Right now, I am watching the HMOs
exhibit strength. Stocks like Wellpoint
(
WLP |
Quote |
Chart |
News |
PowerRating)
and United Health
(
UNH |
Quote |
Chart |
News |
PowerRating) still have some
work to do on their bases, but this may not take very long. On the other hand,
they may just fall apart. It is important to stay tuned into the market despite
being driven to the sidelines.
Another weekend is approaching, which
means another round of thorough market research for me. I will be back on
Tuesday to share my findings on any interesting stocks I find any tidbits on the
market.
Have a Great Weekend,