Marder on the MarketsLeadership + Volume = Advance
By Kevin N. Marder, CBS MarketWatch
Last Update: 4:17 AM ET Jul 1, 1999 Columns & OpinionMuch has changed since the last update of this column (June 2: Wanted -- Leaders only need apply). Then, I'd referred to the "leaderless market," and I'd spoken of "precious few stocks announcing that they're ready to be bought." Big Board leadership had consisted of energy and utility stocks. On the Nasdaq, things weren't much better, with a hodge-podge of mainly small-cap value shares leading the way.
Since then, however, dozens of stocks with names like ASM Lithography (ASML: news, msgs), Adtran (ADTN: news, msgs), Ancor Communications (ANCR: news, msgs), Andrx (ADRX: news, msgs), Applied Micro Circuits (AMCC: news, msgs), Applix (APLX: news, msgs), Brocade (BRCD: news, msgs), CTS (CTS: news, msgs), Circuit City (CC: news, msgs), Cisco (CSCO: news, msgs), Conexant (CNXT: news, msgs), Cree (CREE: news, msgs), Cypress Semiconductor (CY: news, msgs), Galileo (GALT: news, msgs), Genrad (GEN: news, msgs), Micrel (MCRL: news, msgs), Motorola (MOT: news, msgs), Nokia (NOK.A: news, msgs), and Nortel Networks (NT: news, msgs), to name a few, have broken out of bases, most on big volume. As I've said before, this is the most bullish thing a market can do..........
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