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Waiting for the SuperBowl ? January 17, 2014

Posted by Tom in Thoughts.
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This market is rather lethargic.  The S&P 500 Index move down 0.2 % this week; so basically it went nowhere.  With Washington and the World in general fairly stable (compared to past years), and earnings rather OK so far, one wonders why?  Well I hate to sound like a broken record but we remain at a crawl along the upper trend channel line, so the market can be considered “ahead of itself” right now.  The chart below shows what I’m referring to :

NASDAQ

This doesn’t mean that we should go down toward the lower channel, but broking above the upper channel line will be difficult.  So either the market is waiting for the SuperBowl (in 2 weeks) or it is waiting for either good or bad news as an excuse to move in one direction or the other.

I’ve thought that 2014 would be a stock pickers market, in that in order to have above average gains you’d have to be in the right sector and the right stock in that sector.  The table below should give you an idea where those sector area right now.  I see a bunch of biotech / pharma / healthcare sectors in there . . . . a common theme ?  I’m thinking Yes.

Top 10 Sectors

That’s about it for this week.  Not a whole lot of activity as far as direction is concerned.  Time to watch the football playoffs I guess.  Not a bad idea.  🙂  Have a good week.    …..  Tom  ……

price chart courtesy of MetaStock; table by www.HighGrowthInvestor.com; used with permission.  Click on graphic to enlarge.

 

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