Following The Money
Posted on June 2, 2008 in the Investing, Stocks category
.Investors Business Daily had a table over the weekend that showed the ten groups with the highest percent of their stocks at new highs. This is a pretty good indicator for where the action and momentum is in the market. The top ten groups are:
Transportation - Rail 36%
Metal Prds - Distribtr 20%
Household - Appliances 17%
Machinery - Gen Industrial 14%
Elec -Military Systems 13%
Machinery -Cnstr/Mng 13%
Containers 12%
Steel -Producers 11%
Retail/Wholesale - Food 11%
Medical-Hospitals 11%
I was shocked to see Household appliances on the list. With the economic slowdown, people, are not supposed to be buying appliances according to the media!
What surprised you on this list?
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