Board quiet today so how about a little trivia.
Yesterday:
66.7% of the Dow 30 are within 15% of all time highs
57.4% of S and P 500 …………………………….
48% of S and P 400 …………………………….
39% of S and P 600 …………………………….
37.46 of Russell 3000 ……………………………
29% of Russell 2000 …………………………….
Today
66.7% of the Dow 30 are within 15% of all time highs
57% of S and P 500 …………………………….
45.5% of S and P 400 …………………………….
37% of S and P 600 …………………………….
35.96 of Russell 3000 ……………………………
27.35% of Russell 2000 …………………………….
Weakest groups today: Semiconductors of all stripes, Electronics, Industrial Equipment, PC’s., Data Storage, etc. In a word, Techs.
Weakest groups over last 5 day period: Same
Strongest groups last 5 day period:
Agricultural chemicals, Long term care, Railroads, Drugs, Residential REITs.
A scan for stocks within 15% of all time low turned up a few mentioned here, like PTG, HDL, ROAC, CPWM.
Hard to see the catalysts at the moment. Maybe for ROAC its simply more dead people. But an equal dollar weight basket of these 4 speculative unloved would likely do well within in a year or two. Truly hated stocks that require patience. The basket could do well even if one bellies up. Speculative endeavor, but maybe not.
A few others may not be values yet, but might be if the deterioration in them keeps up. Either that or Bankruptcy.
MAXE FBN BBA CAFI are a few.
This Within 15% of all time low list is totally dominated by Closed end Municpal and Income funds. Any guesses into what that is telling us?
Still a few others remain remnants of bubbles gone by, like INFS and TWTR which sell at 5% or less of 2000 bubble values.
Favorite words used by analysts: Could, may, possibly, might, if, and Ugh. |
