Homebuilders Lead The Rally
Talk about a reversal of a reversal. The Dow has surged roughly +350 points from its opening lows. This is a nice bounce, even as the media tries to downplay it as short-covering. Isn't that how all rallies start?
Homebuilders are the leading group today, +5.8%. Retails stocks are also up a lot, +4.6%. And financials and brokers are strong again also. The big lagging sector is energy.
Here are some stocks showing up on my screen of high-volume moves:
- AMZN, BKC, CCK, MA, HCBK, POT, MEE, NKE, NDAQ, DRYS, GIL
I have added a couple of long trading positions, but nothing major. I want to see a little more evidence that this rally won't evaporate as quickly as it has developed. But so far, so good.
net long AMZN