A Huge Up Day Was A Blowout - RSI Likes Steel, Energy & Foreign
Posted on March 18, 2008 at 23:22 PM EDT
Today in the market, Tuesday March 18, 2008: It was a blowout today as all the indices had gains of 3 1/2 to almost 4%! This is really big. There was positive earnings news from the financial sector that generated enthusiasm and a FED rate cut of 3/4% added to the excitement. Let's see if this pulls the market out of the doldrums. RSI’s Themes: A couple of themes stand out...Steel, Energy & Foreign. Interesting of all the stocks don't include the stars of today's blowout...the financials. Credicorp Ltd. is a Peru based financial services company and really not involved ETF/CEF Medium Volatility: ILF - Latin America 40 Index iShares IYM - Basic Matls iShares SLX - Market Vectors Steel ILF is a new addition and points to a foreign sector. The others are in the materials sector. Interesting choices. Stocks Medium Volatility: ABV - Companhia de Bebidas das Americas AKS -AKSteel Holding Corp. BAP -Credicorp Ltd. BKE - Buckle, Inc. BTM - Brasil Telecom SA CPL - CPFL Energia SA GEF - Greif Bros. Corp. KO - Coca Cola Co. RBA - Ritchie Bros Auctioneers ROS - Rostelecom SSL - Sasol Ltd. STR - Questar Corp. WFT - Weatherford Intl WW - Watson Wyatt & Co. Stocks High Volatility: PCLN - priceline.com Inc. We have five new stocks on RSI's list: The Buckle, Inc. operates retail stores that offer casual apparel, footwear, and accessories for young men and women in the United States. CPFL Energia S.A., through its subsidiaries, engages in the generation, distribution, and commercialization of electric energy in Brazil. Sasol Limited operates as an integrated oil and gas company. Questar Corporation operates as a natural gas-focused energy company. Watson Wyatt Worldwide, Inc. provides human capital and financial management consulting services worldwide.