Sector Action

[billyjoe]

Billyjoe, should you have a particular groups chart you would like posted just give me a shoot. I've always believed being in the right group is about 1/2 the battle. Most disagree with this but that is ok. We all do things differently.

Runner,
You know how they say 80% of the stocks go down as the market drops? I agree that if you're in the right group you can do better especially by adapting to the best group's movements. That is if you want to be in the market at all during a downturn.

--------------billyjoe

[Runner]

Your spot on Billyjoe. You can often get your best shorts out of the high flyers after a nice thrust down. I normally don’t play the tops as the bull can bite your butt.

[Runner]

My end of week scans did not look very impressive and this will force me into a more defensive posture going forward from this point. I'll be looking for signs of weakness in the near term. As for long side Commodity related stocks may be a play. I'll be monitoring the Indices to see how they will act during a pullback.

[Runner]

Here is a list of groups that are setting up on the long side

Oil & Gas Equip and Services 4
Indep. Oil & Gas 3
Ind. Metals & minerals 3
Steel & Iron 4

[peanuts]

thanks

Here is a list of groups that are setting up on the long side

Oil & Gas Equip and Services 4
Indep. Oil & Gas 3
Ind. Metals & minerals 3
Steel & Iron 4

Runner, this is very interesting for me. USLM (one of my stocks) has oil and gas wells in the Barnett Shale formation, they mine minerals (lime, limestone, and aggregate), and they supply alot of product to Steel... I like the list of groups that you have up there.

What do you think? USLM is ready, baby!!!

[Runner]

Runner, this is very interesting for me. USLM (one of my stocks) has oil and gas wells in the Barnett Shale formation, they mine minerals (lime, limestone, and aggregate), and they supply alot of product to Steel... I like the list of groups that you have up there.

What do you think? USLM is ready, baby!!!

Peanuts, we shall see I've got some studying to do with my initial punch out list. X stopped me out today but I see a few others in the group setting up long.

[Runner]

Scan returns show a lot of wide range bars. This just confirms my cautious stand. As for the S&P500 the longer term uptrend remains in Tact. The Nas is testing the longer term trendline. Dow30 still in a longer term uptrend.

[billyjoe]

Runner,
I can't find a current housing index chart. How much longer until we bottom out on this one or has it already happened? Thanks

-----------billyjoe

[IIC]

Runner,
I can't find a current housing index chart. How much longer until we bottom out on this one or has it already happened? Thanks

-----------billyjoe

What kind of housing index chart are you looking for?

[Websman]

Runner,
I can't find a current housing index chart. How much longer until we bottom out on this one or has it already happened? Thanks

-----------billyjoe

Judging from the real estate market in my area, I don't think we've gotten close yet. property is still at a stand still. Nobody can afford it.
It has gotten to a point where a family with an average income cannot afford a home.

[billyjoe]

What kind of housing index chart are you looking for?

Doug,
Anything along the order of the PHLX housing index . For some reason I can't find it after June '06.

----------billyjoe

[IIC]

Doug,
Anything along the order of the PHLX housing index . For some reason I can't find it after June '06.

----------billyjoe

That's funny...I was just looking around for you and that is the one I found...here's a chart link: http://stockcharts.com/h-sc/ui?s=$HG...d=p28298770047

And here are the components: http://www.phlx.com/products/sectors/hgxcomp.htm

[IIC]

BTW...If you are looking for index charts, this page at stockcharts has a lot of them...You do not have to be a subscriber to access it:

http://stockcharts.com/symsearch?$

[Runner]

Runner,
I can't find a current housing index chart. How much longer until we bottom out on this one or has it already happened? Thanks

-----------billyjoe

Billyjoe, here is the weekly and daily chart of the PHLX. Notice the daily needs to get over the red line. Where it goes from here is any body's guess. I don't follow this index much.

[Runner]

I've looked over all 237 sub group charts and notice many right at the bottom the their trend lines. I'm not reading much into this action yet but if the down slide continues many groups could be in trouble. For now the trend is still up. The Drug Related Products group looks like it is in a first thrust down. Transitional shorts might be coming in this group. Drug Stores is another weak looking group. Hospitals look sick. I have not looked into the groups for set ups yet.