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Dave Landry's Market in a Minute - Wednedsay, 12/4/13
Random Thoughts
Tuesday was a bit of the good, the bad, and the ugly.
The Quack sold off a tiny bit. So far, it only appears to pulling back from its recent persistent breakout from a base.
The Ps sold off fairly hard but were able to recover to close off their worst levels. For the day, they lost a little around 1/3%. This action keeps them stuck in a sideways range. Net net, they haven't made any progress since mid-November. This isn't the end of the world but as a momentum guy, I'd sure like to see new highs.
The Rusty probed into its prior breakout levels before recovering. Nevertheless, it still ended down around ?%.
The Rusty reflected what happened internally. The selling was fairly broad based.
The Banks got whacked pretty hard. The Regionals still look pretty good here-so far they only appear to be pullback back. However, any additional weakness would be concerning.
There was some ugliness out there. Krispy Kreme Doughnuts got whacked over 20%--I think they found out that I was on a low carb diet.
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