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Monday, October 3, 2011

Today's Leading Industry

Here are the industries with 20% or more of their stocks advancing today. I didn't run the new highs since there are so few and I noticed at least 2 are stocks that dropped out of the finviz database, then came back in as IPOs are are naturally showing up as new highs when they actually aren't. I don;t know how pervasive that problem is going to be, because when there is a large number of new highs there is now way I can check for that.

Cigarettes is one of two groups (the other being discount and variety stores) that has held up relatively well during market down drafts, but in the case of cigarettes, has strengthened quite a bit when the market bounces. This is probably just about the last part of the market not to collapse, and when it does we will know a bottom is coming soon.

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