Today in the market, Thursday July 17, 2008: As the headline states, a second strong up day as a result of favorable earnings reports and falling crude oil prices. The market ended up 1.20% (S&P and Nasdaq) and advancers led decliners 70% to 30%. But the past months carnage has resulted in only 31 new highs and 145 new lows. Pretty telling. All said, this may just be the follow through day that marks the start of a new trend….only time will tell.
RSI’s Themes: RSI has a few fund and stock picks with no discernable theme…sorry. The falling knife list is huge, it started out as a list of 120 and I pared it down to 38 by upping the volume criteria. Perusing the CFK list and thinking they might be candidates for a turn-around. Certainly a lot of foreign funds in this list. Maybe falling oil prices will revive these overseas funds. Hate to keep repeating this, but only time will tell.
ETF/CEF Low Volatility:
- ACG – AllianceBernstein Income Fund, Inc.
Stocks Low Volatility:
- ATT – AT&T Inc. – Sr Notes
Stocks Medium Volatility:
- LMNX – Luminex Corp.
- SBS – Companhia de Saneamento
Stocks High Volatility:
- TECUA – Tecumseh Products Co.
Stock Picks New to RSI:
- Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for applications in the life sciences industry.
- Tecumseh Products Company engages in the manufacture and sale of hermetically sealed compressors.
ETF/CEF Catch a Falling Knife (CFK):
DDM Ultra Dow 30 ProShares Fund
DIA Diamonds
EPP iShares MSCI Pacific Ex-Japan
EWJ Japan iShares
EWP Spain iShares
EZA South Africa iShares
EZU EMU Index iShares
FEZ streetTRACKS Dow Jones Euro STOXX 50 Fund
ICF Realty Major iShares
IGW Semiconductor iShares S&P/GSTI Index Fund
IJJ MidCap 400 Value iShares
IJR SP SmCap 600 iShares
IVE S&P 500 Value iShares
IWF Russell 1000 Growth iShares
IWN Russell 2000 Value iShares
IWP Russell Mid-Cap Growth iShares
IWR Russell Mid-Cap iShares
IYR Real Estate iShares
OEF S&P 100 Index Fund – iShares
ONEQ Fidelity Nasdaq Composite Index Fund (OneQ)
PRF PowerShares FTSE RAFI U.S. 1000 Portfolio
RSP Rydex S&P Equal Weight ETF
RTH Retail Holders
RWR streetTRACKS Dow Jones Wilshire REIT Fund
SMH Semiconductor Holders
VB Vanguard Small Cap VIPERs
VBR Vanguard Small Cap Value VIPERs
VCR Vanguard Consumer Discretionary VIPERs
VGK Vanguard European VIPERs
VIS Vanguard Industrials VIPERs
VNQ Vanguard REIT VIPERs
VO Vanguard Mid Cap VIPERs
VPL Vanguard Pacific VIPERs
VTV Vanguard Value VIPERs
VUG Vanguard Growth VIPERs
VXF Vanguard Extended Market VIPERs
XLI Industrials Select Sector SPDR
XRT SPDR S&P Retail Index
Sorry for such a long list and I cannot chart them all. If you are interested, lug them into your favorite charting program…good luck.
