From Briefing:
Strong: homebuilding, photography, food, beverages, household products, oil, gold
Weak: aluminum, office equip, toys, airlines, software, telecom long-dist., semis, Internet, paper
I agree this may be the bottom; NDX forming a very nice inverted H&S if it holds today's low.
Agree that news gets worse at the bottom; a bottom is when the market makes a psychological turn so it is insulated from further bad news. I'm betting that we've made that kind of turn. Besides, the Greenspan Put has been invoked. ;-) |
