The Sunny Side
How about another exercise?
But this time, I am not typing in a bunch of symbols…too much carpal tunnel!
Since turnabout is fair play, we now take you
to the good part of the market. Monday’s report was about the bad. You
must know that this is the most split tape
that I have ever seen…and there seems
to be no in-between. Either a stock is acting well or getting crushed.
So, here is what you do. Take out your Investor’s
Business Daily and go through the NEW HIGH LIST.
Yes, the whooooole thing. Half the names do not trade
or are low priced, but the other half must continue to be screened. Why?
Simple! There are things that are working. Of course, I
could tell you some of the
names…but then how would you get better? This column is not just
about handing you the fish…it is to teach
you how to fish. It is to teach you
about my daily routines…notwithstanding watching professional wrestling
and “Seinfeld.”
On the major index front…I would give weight and then
not give so much weight. The
major indices continue to be weighed down by all the ugly action in
the General Electrics
(
GE |
Quote |
Chart |
News |
PowerRating), Ciscos
(
CSCO |
Quote |
Chart |
News |
PowerRating) and IBMs
(
IBM |
Quote |
Chart |
News |
PowerRating) of the world.
The rally that is happening right
now has more to do with 9 or 10 straight down days bouncing, but we
still watch. Volume has been high, but skewed
by the monstrous trading in Tyco
(
TYC |
Quote |
Chart |
News |
PowerRating), Worldcom
(
WCOM |
Quote |
Chart |
News |
PowerRating) and Sun
Micro
(
SUNW |
Quote |
Chart |
News |
PowerRating).
