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Thursday, October 20, 2011

Today's Leading Industry

These are the industries with 60% or more of their stocks advancing today.

These are the industries with 5% or more of their stocks making new highs.

My skepticism of this rally is coming back, as we are just not seeing leading industries coming to the fore, and the number of new highs is still low, telling me that it's the most beaten down stocks and industries that are being bought up here. Medical equipment wholesale is a 7 stock group that is among the leaders in both categories, but in relative strength it is quite weak.  It has one strong stock, STAA (which has nearly doubled since August), but the rest look pretty bad, although they also look like they are bottoming. If you are into bottom fishing, this may be the group for you.

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