zzzzzzzz
Thursday’s
trade was boring — but necessary.
Boring because narrow ranges were the
norm in the Naz and many of its constituents, with beefy moves the exception.
Boring because turnover was
pre-jobs-report light.
Necessary because the market needs to
work off some of the ebullience lathered up since the 3rd.
This, in order to keep people honest,
even if that’s unlikely in the wake of another rise in the II survey, this time
to 61% bulls.
Amid this backdrop, it would be
healthy for the Naz to backtrack to the 2600 level.
But whether that event would keep
people honest is doubtful. Very.
Meanwhile, a trio of providers of
electronic products and electronics manufacturing services sauntered north,
confirming the semi and electronics-related segments as the brightest within
tech, as relative as this may be.
CD Technologies
(
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PowerRating), an
electronic products maker, is well up the right side of its cup.
Ditto for Celestica
(
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PowerRating), which
smashed estimates.
And Flextronics
(
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PowerRating), under
extreme accumulation.
Plantronics
(
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PowerRating) stood a foot
south of the top of its five-month base.
Suntrust
(
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PowerRating), a Tuesday
breakout, stalled for the second session.
TJX
(
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PowerRating) came out of a
three-month base on mediocre volume, finishing slightly above the pivot.
Weatherford
(
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PowerRating) sets up.
In all, a respectable session, given
the circumstances.