I just finished running my scans and all I can say is that there’s something for everybody out there. There are lots of stocks that have just been going straight up all month, and many that have been getting crushed all month long. It would appear that the rotation into cyclicals and large caps and out of technology and small caps is continuing. There are some other forces at work right now (options expiration and year-end maneuvering) that are likely adding to the confusion in the charts. The result is a group of stocks that has run too far to buy now and another group that’s too beaten down to short. I’ll probably go into daytrader mode and just play intraday momentum movers for the rest of the week and/or year.
Seems like right after this post, (LOL), the rotation back into tech started. It’ll be interesting to see if people start anticipating a January rally (2004 optimism), and try to get in the next couple weeks in anticipation.