Wow! You have to love the market, one day you’re slapped by the SEC with charges of fraud and the whole market falls and the next day you are up and recouping all losses as if nothing happened! It’s amazing absolutely amazing! You have to love America!
Some info before I continue:
Dow: 11,092 +73
Nasdaq: 2,480 -1.15
S&P: 1,197 +5.39
The top-performing and worst-performing S&P 500 industry groups for Monday, April 19, 2010:
| Industry Groups | Gain | Components |
| Office Electronics | +3.77% | XRX |
| Airlines | +2.77% | LUV |
| Fertilizers & Agricultural Chemicals | +2.13% | CF, MON |
| Health Care Services | +2.13% | DGX, DVA, ESRX, LH, MHS |
| Managed Health Care | +1.99% | AET, CI, CVH, HUM, UNH, WLP |
| Distillers & Vintners | +1.75% | BF.B, STZ |
| Building Products | +1.65% | MAS |
| Health Care Facilities | +1.55% | THC |
| Investment Banking & Brokerage | +1.38% | ETFC, GS, MS, SCHW |
| Advertising | +1.37% | IPG, OMC |
| Industry Groups | Decline | Components |
| Steel | -1.76% | AKS, ATI, CLF, NUE, X |
| Electronic Manufacturing Services | -1.73% | JBL, MOLX |
| Aluminum | -1.37% | AA |
| Casinos & Gaming | -1.17% | IGT, WYNN |
| Tires & Rubber | -1.11% | GT |
| Computer Storage & Peripherals | -1.07% | EMC, LXK, NTAP, QLGC, SNDK |
| Thrifts & Mortgage Finance | -1.04% | HCBK, PBCT |
| Commercial Printing | -1.02% | RRD |
| Motorcycle Manufacturers | -0.94% | HOG |
| Metal & Glass Containers | -0.92% | BLL, OI, PTV |
Okay, now that we got that info out of the way let’s talk stocks! Let’s get down to some interesting conversation about markets and business!
I for one think the current rally can be sustained at the current level by the state of the economy especially if employment numbers and job creation figures stay on the same chart of small moderate growth however I fail to see how the current rally can grow anymore i.e. pass 12,000 without a broader volume trading in the market.
I completely generalize but the market is basically 5 stocks:
BAC
C
ABK
AIG
FNM
As such, average joe or middle America, the group I try to empathise with in this blog is not really feeling the effects of this rally! It’s really quite remarkable! But what are you going to do??
//////////////////////////////////////////////////////////////////
Progress Report Grade: C+
Summary: Needs improvement, shows promise
//////////////////////////////////////////////////////////////////
