Monday, December 14, 2009

There is Always a Bull Market Somewhere....

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I've been scratching my head where all the good action is, because most of the stocks / or sectors I am interested in - have done next to nothing for 5-6 weeks.  In fact many fashionable sectors in the spring and summer have seen their stocks hit, while the indexes remain up.  Which means, there is a bull market somewhere - just not in areas we typically look at.

Aside from the large caps mentioned this morning, we have a very curious group of stocks surging since early to mid November: utilities, healthcare, some retail - I can't find any rhyme or reason to these names other than they are relatively safe havens (at least in defense, utilities, and healthcare).  Looks like a massive sector rotation has played out ... or it could just be all the "hot groups" (the anti dollar trade, or more speculative junk stocks) were run up so much even the egregious bulls thought it was time to give them a break.

REITs



Home Improvement / Retail








Utilities (hat tip to Bill Gross who mentioned them as a go to sector a few weeks back; there are about 10 others with identical charts)







Industrial / Transport








Healthcare (I can only assume once the healthcare lobbyists finished writing  advising their part of the healthcare plan, those on the inside knew they had yet another victory)







Defense (outside of bubble creation, America's other growth industry)







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