Reversify

After an early rally, the market reversed course this afternoon to close down 0.12%. The new Buy List lost 0.19%. Ironically, I just threw Home Depot (HD) overboard and it was up over 2.2% today thanks to Bob Nardelli’s resignation. Oh well, I told you I’m not much of a market timer.
The good news is that two of my new buys, Amphenol (APH) and Jos. A Bank (JOSB), had good days. APH was up 2.7 and JOSB was up 2.9%. Sysco (SYY), which is one of the most stable stocks on the Buy List, was hurt by a downgrade from JP Morgan. The stock dropped 1.3%. Also, Fiserv (FISV) was downgraded by AG Edwards. FISV lost 1.6%.
The most surprising activity came from the energy sector. The Dow Energy Index (^DJUSEN) closed down 3.8%. For the record, I’ve been expecting energy stocks to crack for over a year. Yesterday, oil had its biggest fall in 20 months.

Posted by Eddy Elfenbein on January 3rd, 2007 at 4:48 pm

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