Ditto May 21, 2011
Posted by Tom in Thoughts.trackback
A very uninspiring name, “Ditto”, but that’s where we’re at now. I could really just replay the commentary from the last 2 weeks and . . . that’s where we’d be. But, a brief re-cap:
Top Markets: Defensive Stocks, Micro Cap, NASDAQ 100, Large Cap. (See the dichotomy of thinking here; less risk and more risk.)
Top Sectors: Consumer Staples, Healthcare, Transports, Utilities, (then) Consumer Discretionary; again a strange mix.
S&P 1500 Index continues to be mixed. The number of stocks in Accumulation and Distribution are about the same; the number with Accumulation Up vs. Down is about the same. Bottom line is this market is indecisive and I’m more concerned about it being driven by a news event. Continued Caution is a good plan here. The chart below shows the S&P 500 Index for 2011 to date. Yes, a general up trend but the trend appears to be consolidating.
Have a good week !
Comments»
No comments yet — be the first.