United Tech (UTX) is also beaten down. I follow a number of the homebuilding stocks and they're down for good reason along with UTX which is in building products along with other product lines. The housing stocks look very cheap at 4-7 times earnings depending on the company but their earnings estimates have only recently started coming down so their P/Es may go up.
FNM and other financial stocks appear to be coming back down. C and WFC are holding up the best. Other than the big pops related to several news days on the anti-Glass-Steagle bill, they haven't done much.
There are quite a few groups that are flat on their backs. Retailing stocks in general --- the RLX is misleading. Other than WMT, HD, COST, BJ, and couple others, the rest are near their lows. That would also include Restaraunts - other than MCD, the rest like OSSI, WEN, and YUM are near their lows.
Transports also.
If one were to play the newest breakouts, the biotechs would be appear to be the least extended:
recent breakouts - ALKS, ALXN, AMGN, AVGN, BTGC, CRA, CRGN, DNA, HGSI, IMCL, LKST, MEDI, MLNM
nearing breakouts - ABGX, CEGE, ENZN, GZTC, IDPH, IMNX, LGND, PDLI
still consolidating - BGEN, ENZ |
