The transports currently sitting on the 50-day average…almost to the penny. In this teflon market, very important that they hold. Rails and airlines continue to act suspect…with of course, higher oil prices to blame. Also seeing some underneath-the-surface distribution in semiconductor equipment names. Lastly, housing stocks finally coming in and headed to the 50 day average where potentially buyable on the first pullback to the 50.
Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.