Today in the market, Monday March 31, 2008: The end of the month and end of the quarter saw a seesaw market that closed nicely higher. Market action was probably exacerbated by institutional portfolio window dressing, but we will take the gain.
RSI’s Themes: RSI still likes materials, energy and foreign based businesses. A similar refrain to what RSI has been whispering over the past few weeks. Is this the market posture for the future?
ETF/CEF Medium Volatility:
- IEO – iShares Dow Jones U.S. Oil & Gas Exploration & Production
- ILF – Latin America 40 Index iShares
RSI has picked these two recently and here you have them again. The chart shows they have done well and RSI expects continued good performance.
Stocks Medium Volatility:
- AKS – AKSteel Holding Corp.
- BNT – Bentley Pharmaceuticals, Inc.
- BTI – British American Tobacco Industries, p.l.c.
- CEDC – Central European Distribution Corp.
- ELN – Elan Corp. PLC
- FDP – Fresh Del Monte Produce
- GEF – Greif Bros. Corp.
- HLF – Herbalife Ltd.
- NVO – Novo Nordisk A S
- STR – Questar Corp.
- TECH – Techne Corp.
- WW – Watson Wyatt & Co.
- XTO – XTO Energy Inc.
Of these thirteen, only one of these is newly picked by RSI:
British American Tobacco p.l.c., through its subsidiaries, engages in the manufacture, distribution, and sale of cigarettes and tobacco products. BTI is London based and yields 5.10%, not too shabby.
I have to look into my volatility algorithm, it looks like the volatility disparity in the upper stock chart is more than I expect. I might change my criteria. Anyway, I have a feeling that we are successfully establishing a base and the bottom may be behind us. We shall see…
