The Struggle Continues
There isn’t
a whole lot to be said about the market in general. The indices
continue to struggle amid the wave of distribution they experienced over the
past two weeks. A few of the sentiment indicators are looking better for the
eventual bull. For example, bullish advisors dropped to
52.7% and bearish advisors rose slightly to
30.1%.
Individual stocks in the growth sector
have been mixed recently. On one hand, stocks like Expedia
(
EXPE |
Quote |
Chart |
News |
PowerRating) and Ryland
(
RYL |
Quote |
Chart |
News |
PowerRating)
have pushed to new highs following positive news.
On the other hand, stocks like CACI
(
CACI |
Quote |
Chart |
News |
PowerRating), Invision
(
INVN |
Quote |
Chart |
News |
PowerRating)
and Mim Corp
(
MIMS |
Quote |
Chart |
News |
PowerRating) have been knocked
down hard.
Recently, I have been keeping an eye
on the success or failures of such breakouts as
Autozone
(
AZO |
Quote |
Chart |
News |
PowerRating), Caremark RX
(
CMX |
Quote |
Chart |
News |
PowerRating),
Chicos FAS
(
CHS |
Quote |
Chart |
News |
PowerRating), Itron
(
ITRI |
Quote |
Chart |
News |
PowerRating), Oxford Health
(
OHP |
Quote |
Chart |
News |
PowerRating)
and Odyssey Healthcare
(
ODSY |
Quote |
Chart |
News |
PowerRating). Even
though the market has been a burden, it’s still important to see how growth is
acting. We will eventually have a confirmed rally in the indices and we will
need to know how growth has set up.
There aren’t too many other things
going on right now and that is why I picked this weekend to visit the in-laws in
Las Vegas. Enjoy your weekend and keep your eyes on the market.
P.S. If you’re looking to kill some
time, go to www.truecapitalmanagement.com.
Â
Â