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Monday, March 19, 2012

Monday Morning Update

Well, here we start another week, after two weeks of a relentless up trend, we may see it start to relent. I expect a pretty narrow range today and we may see a continuation of the high volume we had the last couple of days (Friday was options expiration, so we won;t see that kind of volume), and I will be watching for signs of churning, stocks that get high volume but barely move. XLF is once again way out front this morning, with XLB a distant second. Lagging are XLI and XLY. The Nasdaq is about even, the Russell 2000 has a nice lead. Oil, gold, and treasury yields are all up. So far the prognosis is mildly bullish.

I have 137 new highs so far, with breakouts in  KNSY, TWTC, DPZ,  and HRZN. I have only one stock on any of my watch lists scheduled to report this week, that is THLD, which did not report but is up 5% on an upgrade.

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