The Midday Market

The market started the day with the cyclicals zooming out of the gate. I thought this was a typical reverse reaction day when everything that had been doing poorly suddenly catches fire. But that gave way and the cyclicals are now down with the rest of the market. The S&P 500 has been as low at 1150 today. It seems like only a few weeks ago when we passed through 1150, which, of course, it was.
Our Buy List is showing a lot of resiliency. The S&P 500 lost -0.66% yesterday but the Buy List gained 0.15%. (Did anyone else jump up on their desk and do the Cabbage Patch when NICK hit $9.20? Um…good, me neither.) So far today we’re only down -0.56% compared with the S&P 500’s loss of -1.02%. So we’re sucking less but it shows you how our stocks can hold up when the cyclicals break down.
Around noon, shares of Fiserv (FISV) suddenly sprung to life. The stock is up about 6% today. AFLAC (AFL) is back down again today. The stock has been as low as $47 which is a very attractive price.

Posted by on May 6th, 2010 at 1:12 pm


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