Hi Kenny,
Well are you back in any Janus funds ? I started thinking about 2 weeks ago that the market was climbing "the wall of worry" when we never re-tested 3400-3500, and the NASDAQ appears to be trading on or near its 50 day/200 day moving average -- which is heading up.
I follow Zeev Hed's turnips, which also predicted the possibility of a re-test on 3500 before heading up, but it looks like he may be right on target with a rally lasting till the election or maybe a little beyond that.
One thing that's interesting is that during the NASDAQ's move from 3050 to 4000, there was a list of stocks that rebounded quite well (they've doubled !). But yesterday, as a group, they were weak. I'm not sure what to make of that divergent behavior. Got any thoughts ? Here is the list:
quote.yahoo.com
As you can see, BVSN bit the dust Friday, and CTXS, which used to be on my list, bit the dust earlier in June. INSP actually looks like it's trading in a channel between 50 and 60.
The one I'm really kicking myself on is NUAN. Jeez. :-(
Oh yeah, and keep an eye on VITC if it dips back to the 5/8 - 3/4 range.
So which stocks power the NASDAQ on Friday ?
Regards,
Chris |
