IBD 100

It was a brutal week in the IBD 100 as the medical sector came under assault (thank you, Mr. Obama). Very few escaped the carnage, and many dropped off the IBD 100 this week, including ebs, which had been number one for several weeks running. OOverall, the IBD 100 was down 6.7%, and is a good indication of just how weak this market is.

DLTR was the top gainer last week. Last month this got crushed on an earnings miss, but a trend I have noticed in the past is that when a stock in an uptrend has a dip due to an earnings miss, it will sell off for 2-3 weeks, then reverse and resume it's uptrend. I would be more confident about that in a bull rather than a bear market, but it seems to be happening here. One clue here is the price relative line, which ramained high and is about to break out.

SXL was the second biggest gainer. It is not a very exciting chart, and there are some flaws. It did pull back to the 50dma, giving a good entry point, but did it on higher than average volume, which would have scared me out. This is a breakout candidate for this coming week.

GTIV was last week's big decliner. I have not seen the details of Obama's health care reform plan, but something in there caused panic selling. Ther wasn't a whole lot of warning, but a break of the 200dma should have been the signal to get out.


LHCG was the second biggest decliner. This one was showing signs of weakness before the big selloff. When it failed to retest the 50dma after it's first pullback, that should have been a red flag. Eventually, the bear comes to get them all.