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Strategies & Market Trends : The New Bull Market. -- Ignore unavailable to you. Want to Upgrade?

To: quote 007 who wrote (135)	4/13/2002 2:06:43 PM
From: Rich1	Read Replies (1) \| Respond to of 1750

Well keep us posted... Still plenty stock breakingout just not tech or Big Cap Tech... Look at SP 600 From Investors Business Daily... The Big Picture Monday, April 15, 2002 Modest Bounce Belies Strength In Broad Market BY CHRIS GESSEL INVESTOR'S BUSINESS DAILY The big averages rebounded meekly Friday. But the broad market turned in another strong session. A day after sliding 205 points, the Dow industrials reclaimed only 14.74, or 0.1%. Falling oil stocks held the S&P 500 in check. It climbed 0.7%, less than a third of Thursday's loss. The Nasdaq turned in a more respectable gain of 1.8%. Still, the tech-heavy index did not recoup all of its prior sell-off. Volume came in lighter on both indexes. Usually a smaller rebound in lighter volume is cause for concern. Big caps may still face a rough road. Mutual funds remain saddled with a lot of fallen blue chips. But for all the problems in the headline market, smaller stocks continue to prosper. Strength in the broad market is showing up everywhere: The S&P SmallCap 600 hit a new high, rising 1.8%. Unlike the big indexes, the 600 charged past all of Thursday's loss and then some. It was one of the first of the secondary indexes to break out. While the Dow, S&P 500 and Nasdaq retreated over the past four weeks, the S&P 600 traded in a tight sideways range. That left it primed to break higher Friday. The S&P MidCap 400 climbed 1.1%, closing just a smidge below its 52-week high. Like the small cap indexes, it gained ground for the week. The major indexes all fell last week. The Value Line arithmetic index rallied 1.4%, leaving it less than 1% below a new high. The unweighted index isn't distorted by a few big caps. Another strong move would trigger a continuation of last month's breakout. For the second time in three days, NYSE advances beat declines by at least 2-to-1. The advance-decline line held firm during the past four weeks and showed the same resilience during the January correction. New issues are back in vogue. Discount airline JetBlue came public Friday, shooting up 18 points from an offering price of $27. Shares of biotech Ribapharm added 0.80 to close at 10.80 on their first day of trading. IBD's New Issues Index has outperformed the S&P 500 for the past six weeks. It's up more than 24% since the September market bottom vs. 6% for the S&P. Leading stocks continued to act well. Affiliated Computer Services (ACS) popped up 2.93 to 56.08. The computer services stock has traded sideways since breaking out March 18. It's within 1% of a new high. With earnings season taking off this week, the market looks like it will reward strong reports. Mercury Interactive (MERQ) jumped 7.30 to 36.74. The software maker easily beat estimates and stood by guidance for 2002. Despite the market's underlying strength, option players felt nervous. The put/call volume ratio popped up to 0.82 even as the big indexes rose. It's healthy for the market if bullishness remains contained. Return to top of page Printer-Ready Version Also In Monday's investors.com: Investor's Corner: Are small-cap stocks a better option than big caps? The Real Most Active: Check on stocks that experienced unusually high trading activity. IBD WebLink: Get an IBD Chart and Stock Checkup analysis of a stock featured in today's IBD. The Smart Investor: Nokia's textbook-example base; finding leading sectors; using charts to study psychology. Heeding The Market: This page shows how "The Big Picture" column recognized the signs of weakness right as the bear market began. IBD Calendar: A schedule of periodic features, market data and special reports appearing in IBD. About The Big Picture © Investor's Business Daily, Inc. 2002. All Rights Reserved. Reproduction or redistribution is prohibited without prior authorized permission from Investor's Business Daily. For information on reprints, webprints or permissions, go to www.investors.com/terms/reprints.asp. 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