Notes For Monday’s Stock Market Session
April 27, 2008
-The IBD 100 is up 228.5% compared to SP 500’s 49.5% since 4/18/08
-IBD 85-85 and IBD 100 were down for the week (-.9% compared to Nassy .8%) but they were up over 2.5% on Friday compared to Nassy down .2%.
-This appears to be rotation of some sorts out of commodities into some new sectors
-Internet-Network Solutions up 9% this week
-Computer Software-Design up 5% this week
-These industries however are being led by the usual laggards BIDU and AAPL.
-Strongest Semi stocks: PMCS MCRL VLTR FSLR CRUS JASO SMTX POWI IVAC JST LSCC SMTC AXYS
-Impressive food stocks: FDP SDA — I am long both
-Nasdaq has an A for acc/dis NYSE B SP 500 B+ IBD 85-85 C+
-Top two leading industries: Oilandgas-US Expl/Prod and Transportation-Railroad
-McClellan oscillator is slightly overbought
-NYSE short interest ratio is yet again at ANOTHER ALL-TIME HIGH at 11.57…takes almost 12 days of average volume for all shorts to be covered
-Investors Intelligence shows 39.1% bulls and 35.6% bears and AAII has 46% bulls, 27.5% bears, and 25% neutral
-oil rose $2.46 to $118.52
-gasoline is almost $4.20 a gallon for unleaded on Maui
-Helene Meisler ob/os oscillators are muddled an slightly overbought
-there were 91 new 52-week highs to 89 new 52-week lows on Friday
-Energy made up 17 of them, medical and banks had 7 new highs, business service had 6, and retail, real estate, and finance had 5 each. This is the broadest showing of new highs in a over a month.
-the VIX hit a new low for 2008 hitting 19.21 intraday on Thursday
-the 10 DMA of the put/call ratio appears ready for a turn higher
-last week there were 155 new highs on the NYSE this week the most during a session was 55 (negative divergence)
-last week there were 49 new highs on last-Thursday, this Thursday the Nassy hit a new high yet there were only 21 new highs (negative divergence)
-we have the Fed on Wednesday. This is supposed to be the last cut
-we still have very low volume and therefore 50% cash is still recommended here. It is still not time to go all-in
GOOD LUCK ON MONDAY!! ALOOOOOOOHA!!!!
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