On Break

11/16/2008

BMB On Break

It’s time again for a little BMB R&R, especially with the market behaving as bizarrely as it’s been. Maybe if we stop watching it start to behave a little better…

Posting will be very light and variable over the course of this week, but we’ll put up an open thread each market day for our readers to comment on the day’s market activity or to post any interesting links they might run across.

Check the space below for whatever the latest might be during this ‘off’ time, and please visit the various sites in the ‘Links’ and ‘Regular Stops’ for up-to-date market news and analysis.

BMB will be back in full swing by next weekend.

Posted: 1:00 pm

11/12/2005

Weekend Sector Scan

XLF chart Financials continue to rocket skyward, and have become quite extended from their moving averages - certainly not a good entry point if you’re looking to get in. The last time the XLF was this overbought was in January of ‘04.
XLB chart Basic Materials have had a nice run up off their October lows. The XLB is now reaching up to test the 29 level, which it hasn’t been able to hold above since April.
XLE chart Energy stocks are still struggling as oil prices have pulled back. Critical support is still around 45 for the XLE.
XLU chart Utilities probably won’t see much upside until interest rates finally level off or move lower.

 

The numbers for the week:

 

Sector Symbol 8 Week % Chg. 4 Week % Chg. 1 Week % Chg. YTD % Chg.
Financials XLF +5.5 +8.7 +3.2 +3.5
Basic Materials XLB +2.8 +8.7 +2.7 -3.8
Consumer Staples XLP +1.8 +3.3 +1.4 +1.8
Industrials XLI +1.4 +3.0 +1.5 -1.7
Technology XLK +0.8 +5.7 +1.2 +0.2
Consumer Discretionary XLY -0.4 +5.2 +1.4 -6.5
Health Care XLV -2.9 +0.9 +1.4 +3.0
Utilities XLU -8.8 -0.7 -0.8 +10.0
Energy XLE -9.2 -1.8 -4.1 +30.7

 

Charts courtesy of StockCharts.com

Posted: 11:33 am