Wednesday, March 28, 2012

Wednesday Evening Thread

A frustrating day was had by many traders today. The major indices finished off their lows, but still fairly negative on the day. I have been tracking sector performance here at the end of the quarter, and can report that today there were 3 sectors which finished green on the day: AAPL, the XLF and XHB. What a mixed bag. Whew. Worst performers on the day were KOL, XME, XLB and XLE. That group at least pretty predictable.

The XHB chart above is indicative of some of the "confusion" lately. Data from the hombuilding sector has been mixed, at best, in the last week. Yesterday a gravestone doji was printed, and yet today the group finished higher. Doubtless some of that is "window dressing" as the XHB is the best performing group on my list for the first quarter of 2012 (unless you really put AAPL and PCLN as their own sector.)