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Thursday, February 23, 2012

Today's Leading Industry

Here are the industries with 95% or more of their stocks advancing today.

 Here are the stocks with 15% or more of their stocks making new highs.

Once in a while, when nearly every industry in the market is moving up, I like to look for those that aren't. Today major airlines sticks out like a sore thumb: 0 stocks advancing, 0 making new highs. Oddly enough this group had a very strong bounce back recently, but high oil prices are now taking their toll. It's tempting to short these, and if oil stays high it would be a good, if crowded, trade, but if oil comes down these will get squeezed unmercifully.

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