Wednesday, July 02, 2008

Daily Sector Sort (07.01)

Sector/Subsector Day

YTD (-1 day)

Specialty Finance 3.50% -21.33%
Consumer Finance 2.81% -12.69%
Biotechnology 2.62% 8.65%
Gold Mining 1.96% 3.35%
Home Construction 1.91% -17.45%
Water 1.82% -23.30%
Nondurable Household Products 1.76% -16.28%
Computer Hardware 1.74% -13.38%
Clothing & Accessories 1.69% -4.74%
Broadline Retailers 1.59% 4.62%
Apparel Retailers 1.54% -9.34%
Specialty Retailers 1.42% -14.35%
Exploration & Production 1.35% 25.75%
Auto Parts 1.34% -17.74%
Heavy Construction 1.29% 5.17%
Banks 1.28% -33.36%
Food Retailers & Wholesalers 1.24% -10.91%
Insurance Brokers 1.20% -2.63%
Property & Casualty Insurance 1.09% -16.67%
Diversified Industrials 1.08% -21.82%
Specialized Consumer Services 1.06% -15.46%
Restaurants & bars 1.05% -7.19%
Gas Distribution 0.97% 12.85%
Tires 0.97% -38.13%
Internet 0.94% -20.02%
Oil Equipment & Services 0.90% 21.24%
Life Insurance 0.88% -19.36%
Pharmaceuticals 0.80% -14.21%
Full Line Insurance 0.69% -49.30%
Commercial Vehicles & Trucks 0.68% -9.73%
Reinsurance 0.68% -19.24%
Platinum & Precious Metals 0.65% 27.52%
Financial Administration 0.61% -8.74%
Electricity 0.59% -3.72%
Tobacco 0.55% -8.63%
Toys 0.54% -4.85%
Medical Supplies 0.50% -2.73%
Computer Services 0.41% 6.63%
Defense 0.40% -7.26%
Integrated Oil & Gas 0.27% -0.35%
Aerospace 0.26% -22.93%
Commodity Chemicals 0.24% -2.34%
Industrial Suppliers 0.22% -3.31%
Mortgage Finance 0.21% -51.35%
Real Estate Investment Trusts 0.20% -2.52%
Automobiles 0.16% -34.86%
Multiutilities 0.15% -5.66%
Investment Services 0.08% -36.77%
Real Estate Holding & Development 0.07% -7.38%
Personal Products 0.05% -10.31%
Asset Managers 0.04% -19.55%
Brewers 0.02% 16.40%
Electronic Equipment -0.06% -5.84%
Telecommunications Equipment -0.08% -12.76%
Electrical Components & Equipment -0.10% -10.23%
Transportation Services -0.16% 23.40%
Semiconductors -0.22% -14.86%
Medical Equipment -0.25% -3.28%
Containers & Packaging -0.28% -16.16%
Business Support Services -0.28% -2.77%
Publishing -0.35% -20.09%
Recreational Products -0.43% -32.34%
Soft Drinks -0.44% -17.30%
Industrial Machinery -0.46% -2.64%
Food Producers -0.56% -9.89%
Marine Transportation -0.58% -3.35%
Distillers & Vintners -0.61% -3.49%
Software -0.61% -16.05%
Fixed Line Telecommunications -0.64% -18.96%
Pipelines -0.70% 14.53%
Specialty Chemicals -0.74% 5.55%
Broadcasting & Entertainment -0.80% -11.48%
Home Improvement Retailers -0.82% -11.90%
Coal -0.96% 73.11%
Drug Retailers -0.98% -8.99%
Furnishings -1.00% -24.72%
Health Care Providers -1.04% -33.51%
Trucking -1.05% 9.92%
Footwear -1.08% -12.66%
Nonferrous Metals -1.09% 6.36%
Electronic Office Equipment -1.27% -15.50%
Durable Household Products -1.28% -20.76%
Business Training & Employment Agencies -1.35% -13.05%
Consumer Electronics -1.47% -53.33%
Waste & Disposal Services -1.63% 3.20%
Recreational Services -1.73% -30.72%
Media Agencies -1.77% -9.66%
Airlines -1.85% -44.49%
Delivery Services -1.95% -12.79%
Hotels -2.22% -21.61%
Paper -2.45% -31.54%
Building Materials & Fixtures -2.45% -14.98%
Railroads -2.56% 22.27%
Travel & Tourism -2.97% -31.11%
Gambling -3.08% -44.65%
Iron & Steel -3.23% 27.02%
Aluminum -3.33% -6.75%
Forestry -3.95% -28.46%
Mobile Telecommunications -4.61% -25.34%

Total number of sectors with data 99 99

Total number of gainers 52 19
Average gain (simple, not weighted) 0.96% 16.71%
Total number of losers 47 80
Average loss (simple, not weighted) -1.31% -17.00%


nice said...

One gets the impression that 1/2 of the people running the US government and controlling the US finances wants to help the system, save the US dollar and have oil decline - but the other half seems to have other ideas.

Yesterday the Asian ADRS were down 1% while the US market rallied - and gold was strong - this indicated to me there would probably be weakness this a.m. and a high probablility of a pullback...

Sell the news on the Coal ytd output - whack...

I read yesterday that in the 1st 4 months of this year a quarter trillion dollars went into commodity index funds...

Many of these funds are long lonely

This proves the point that indeed it is a supply/demand issue:
--> That is: a demand for financial contracts in commodities - not an economic demand..

One commentator was pointing out one way to solve the problem would be to force delivery of the commodities....

Imagaine having 100,000's of barrels of oil showing up at your front door!


nice said...

Cracks in the commodity theme at least as far as commodity stocks are concerned are beginning to show...

Notice that as the USD weakens or oil rises - there is heavy selling in commodity stocks...

In particular the Canadian market just dropped 300-400 points after open -on an underside test of the 50dma which failed...

The market run from 2005 was bouyed by commodity stocks..

Problem is that except for tech - energy/material sectors are now overweight the S&P - this contributes to S&P weakness becuase when the underweight sectors (financials, consumers etc..) rally - the rally is weaker than when the overweight sectors sell off.

And if the overweight sectors do not sell off - this means high commodity prices - and the longer this happens the longer the damage to the US econ will be.

Gold is holding strong..
If the Euro breaks 1.60 the true test of commodities/commodity stocks/USD etc.. will be seen IMHO
As it will be time for people to put their money where their mouth is (or hit the sell button)

Though the market already has been feed the idea that the ECB will raise rates...

Of course all of this is a moot point is the US is to be permanently engaged in the Middle East..

In fact many wise commentators believe that the US with it's back against the wall - will now transition from a peace time economy to a war-time economy -
Bush's actions in his last few months could provide some indications...


nice said...

This is really bizzare action..
Never seen anything like this

Everyone wants to get in on the physical commodities (oil, gold, copper etc.. all up) ahead of the ECB meeting...

Yet everyone wants to get out of the associated stocks...

And the industrial metals stocks like coal, steel collapsing...

And Downgrades on stocks that are down 60-80% since the last 'BUY' or "NEUTRAL' recomendation.

Is reality finally setting in?

Will the missles be flying soon?

Is the panic everyone has been waiting for beginning to start?

Or is it over?

stay tuned...

and remain 'PERPLEXED'


nice said...

Well yesterday's market tells:
(1) the Asian ADRS not following the US indices - and (2) the DJ Transports diverging quite negatively with the Dow Industrials - proved useful as a sign to not go too heavily long yesterday ... sold the S&P on the opening bounce...

Unfortunatly got caught trying to buy the dip this afternoon on some oversold oil stocks...

This bothers me when I fall back into a bad habit like not respecting the down trend on the intraday charts and buying something just because it is way way oversold...

Reminder to self: oversold can become more oversold... which can become more oversold - which can become more oversold...

'nice' to see a little bit of reality kicking in on the coal/steel/materials stocks...

Funny thing was I received this investment letter today telling me it was not too late to get in on the next greatest thing... Coal...

It could be true - but it always seems that by the time an investment letter finds its way to my mailbox with the 'next greatest thing' - it is right about the time that 'next greatest thing'

So.. the Jobs report tomorrow - will it be a 'kitchen sink' report? Or more creative number crunching???


nice said...

"NYMEX Raises margins for Comex Gold Futures contracts by 15%; Effective after tomorrow's close"



nice said...

Ever notice lately that when stocks start to decline - the momentum seems to pick up?

Barton Biggs wrote an article a while back and it was interesting...

he said...

"Today many hedge funds automatically sell into declines to make sure that they don't have to report major "drawdowns," which is just a fancy word for losses.

Their fund-of-funds clients abhor draw-downs, as hedge funds are not supposed to lose money in down markets.

Also, banks and others have created "structured products" that sell a portfolio of hedge funds, with virtually guaranteed 6 to 8 percent returns. If a customer wants a higher return, the bank will lend him money so he can leverage his investment.

This is a dangerous similarity to 'portfolio insurance' in the -87 crash - in that if a price decline begins to gather momentum, the underlying positions have to be liquidated because of the guarantees.

In other words, shares will be indiscriminately sold into a decline regardless of value."


900 points ago on the DOW, large commercial bank interests sold into an already declining market...

What did they know?

Sure would be 'nice' to be a fly on the wall in some of those big banks board rooms...


Rate of change in the highs versus lows went negative a few days ago in multiple time frames...

Bulls need some heavy buying interest ASAP...