Tuesday, November 17, 2009
ATR: Weakness What Weakness?
After my observation that I thought the Containers and Packaging sector looked weak, they rebounded yesterday with vengeance! The market backdrop was exceedingly strong, so to see some resumptive vigor here is not surprising. Volume is still lower--and while volume instructs, price pays (or pummels if you are on the wrong side of it!).
If the market stays strong, then perhaps this group will regain footing and move forward. You know that aphorism about a rising tide lifts all boats (and containers)....it is something to be mindful of if we take positions counter to the broader market.
Position: Still watching!