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Monday, May 13, 2013

Monday Morning Update

The invincible market seems to have a kink in the armor, as we are not only down today, we are down fairy big. We are still above support at 1623, and even breaking that, we have plenty of support below tha, so I would not be changing into my bear suit yet. Among the sectors XLV is way out front morning, with only XLP even close in second place. XLB and XLU are both getting blasted in the rear. The Nasdaq is leading slightly, the Russell 2000 is about even. I have oil and gold down, treasury yields up.

I have 184 new highs so far, with breakouts in CITZ, PNTR, PERI, THRX, LOV, and NSANY. I had two reports scheduled this morning, one actually has: PERI, up 17%.

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