A “Snap-Back Rally”

The market is rebounding nicely today. As I write this, the Dow is up 148 points to 11,768 and the S&P 500 is up 18 to 1,274. Today seems to be a “snap-back rally” where what had been doing poorly is now doing well and what’s been doing well is now doing poorly.

The Morgan Stanley Cyclical Index (^CYC) is up close to 2%. The energy and materials stocks (those most inflationary) are doing particularly well.

The Buy List is going to lag the market today pretty badly simply because our stocks have been the ones investors have retreated to since the jitters began. Every stock except for Jos. A Bank Clothiers (JOSB) is currently up today. AFLAC is back up to $51 per share. Leucadia National (LUK) actually hit a new 52-week high. That means that investors still like quality stocks.

Posted by on March 17th, 2011 at 11:33 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.