Oil Beginning To Overwhelm Sentiment

Oil is continuing to surge today, touching $120. I mentioned that the low put/call ratios this morning worried me a bit, and I think that is helping to foster a day where the indexes could be down mroe than -1.0%.

The semis have widened their losses, currently down -3.82%; retailers are lower by -2.81%, and brokers are down -1.75%.

Volatility is on the rise, with the VIX +4.7% and the VXN +7.1%.

I just looked at a screen of this year's biggest winning stocks. Most of them are names that I am not familiar with. Here is the screen.

Considering the indexes are still down -6% to -10% this year, its a bit surprising to see all of these stocks up 75-250%. I would be willing to bet that if we revisit this list at year-end, many of these stocks will be much higher still. I am going to tuck this list away and check out my thesis at the end of the year.