More wicked action!

The wild swings of the past week continues as Monday received the upside of those swings. But it remains more important to look underneath the surface as the spit tape continues.

To be brief, we just wanted to highlight a few  main areas to overweight and look for proper breaks to the upside are :

Just about anything medical/healthcare/biotech/managed care.  A good number of  names continue to show leadership with quite a few names moving out yesterday. Keep in mind, many names are extended here.

A bunch of retail areas: auto parts, department stores, discounters, drug stores, supermarkets, restaurants, home improvement.

Semiconductors…especially the bigger growth names.

We think there is more points to be put on the scoreboard in these areas as they continue to show no let up. At this juncture, pullbacks are preferable but never know if pullbacks show up.