There is not much going on the new high list, which means that risk appetite is still on vacation and so should you in regards to your market exposure.
Other than the usual suspects lately: utilities: $SO, $EM, $D; gold miners: $GOLD, $NGD and fertilizers: $CF, $TNH, a new name appeared today: $ARCO or the so called Macdonald’s of South America. I am watching it closely, but in the same time I am really suspicious to any breakouts in this market environment. Only a few days ago, $CBOU and $DTLK broke to new all-time highs, only to be quickly faded. Both are down more than 10% for the week so far.
Other stocks that are holding well so far include: $RGR $HANS $MJN $MG $MCHX $MA $MITK
Staying on the sidelines is still the better alternative. I know it is hard, but discipline should always prevail conviction and biases.
