I’ve been scratching my head where all the good action is, because most of the stocks / or sectors I am interested in – have done next to nothing for 5-6 weeks. In fact many fashionable sectors in the spring and summer have seen their stocks hit, while the indexes remain up. Which means, there is a bull market somewhere – just not in areas we typically look at.
Aside from the large caps mentioned this morning, we have a very curious group of stocks surging since early to mid November: utilities, healthcare, some retail – I can’t find any rhyme or reason to these names other than they are relatively safe havens (at least in defense, utilities, and healthcare). Looks like a massive sector rotation has played out … or it could just be all the “hot groups” (the anti dollar trade, or more speculative junk stocks) were run up so much even the egregious bulls thought it was time to give them a break.
REITs
Simon Property Group, Inc (SPG)
Home Improvement / Retail
Lowe’s Companies, Inc. (LOW)
The Estee Lauder Companies Inc. (EL)
AutoZone, Inc. (AZO)
Utilities (hat tip to Bill Gross who mentioned them as a go to sector a few weeks back; there are about 10 others with identical charts)
Duke Energy Corporation (DUK)
Dominion Resources, Inc. (D)
The Southern Company (SO)
Industrial / Transport
Honeywell International Inc. (HON)
Canadian Pacific Railway Limited (USA) (CP)
United States Steel Corporation (X)
Healthcare (I can only assume once the healthcare lobbyists finished writing advising their part of the healthcare plan, those on the inside knew they had yet another victory)
Medco Health Solutions Inc. (MHS)
Cardinal Health, Inc. (CAH)
CIGNA Corporation (CI)
Defense (outside of bubble creation, America’s other growth industry)
Raytheon Company (RTN)
L-3 Communications Holdings, Inc. (LLL)
Rockwell Collins, Inc. (COL)
