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Tuesday, February 7, 2012

Tuesday Morning Update

I woke up late this morning and am not feeling very well, and I'm not thinking very quickly so I may not be doing a lot of posting today. As we see on the chart, we have a clean breakout past 1844, so my theory that that is the top is now dead. Next stop looks to be about 1355. The sectors have flipped again, with XLU taking a big lead and yesterday's leaders, XLE and XLI, taking up the rear. The Nasdaq and Russell 2000 are about even. Oil, gold, and treasury yields are all up.

I have 135 new highs so far, with breakouts in MHH, CSTR, SPF, NCR, NAII, NLST, and CHD. Reporting last night: AGNC up 1.2%, AMLN up 4%, VECO up 1%, WPRT up 0.6%. Reporting this morning: BMI down 6.3%, CFX down 2.4%, LFUS down 0.3%. I had ASEI, BWLD, and SCL scheduled, but it looks like they are reporting after the close.

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