Bobby,
>>>>>>>> Without the banks and transports all the bulls have left are the speculative techs and the internets and the consumer cyclicals, not much for a meat and potatoes guy like me -ggg-. <<<<<<<<<<<
To make matters a bit worse, the NAZ COMP did not rebound Friday as much as the the DOW and SPX. The RUT actually set a lower CLOSING and INTRADAY LOW. It looks like the DOW, SPX, OEX and a few smaller NAZ INDEXs are the ones left to break or hold the whole market up from tanking. As a guess, I think there are less than 50 major stocks which have not yet corrected more than 10%, and that figure may be high - probably closer to 25. Once they break its CATCH-UP time for them to the downside.
Has anyone down a STOCK SCAN to see what stocks which still have not corrected more than 10%. Of those I am aware of the following have are close to or below a 10% correction: GE, MSFT, DELL,CSCO, CHEV(11%), EK, KO, IBM, MCD, MO, MRK, TX, XON, INTC. there are more, but dont think too many more of the big boys.
Seeya |
