A Case of the Mondays

This is just an ugly day of trading. The S&P 500 has been as low as 1,303. The index has to stay above 1,297 to remain above the 50-DMA.

Once again, the cyclicals are getting whacked hard. The Morgan Stanley Cyclical Index (^CYC) has been down as much as 1.82%. The CYC-to-S&P 500 ratio will likely close at its lowest level since November.

The Buy List is down with the overall market. Some cyclicals like Ford (F) and Moog (MOG-A) are getting dinged. I think Oracle (ORCL) looks very good below $32 per share.

Outside the Buy List, I see that Cisco (CSCO) is now at its lowest level in 20 months. I hate to think of all that money wasted on share buybacks.

Posted by on March 7th, 2011 at 2:35 pm


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