Wednesday, August 15, 2007

Stocks Above 50 Day Moving Average after Drop Today (August 15, 2007)

The Stock market has been experiencing a correction, and the S&P 500 Index ($SPX) only has 7.6% of its stocks above the 50 day moving average. This is very low!

What are these stocks holding up?

I used Yahoo Finance and selected the larger capitalization stocks above the 50 day moving average and above a $4 Billion market capitalization:

  1. Procter and Gamble (PG)
  2. Cisco (CSCO)
  3. Pepsi (PEP)
  4. Ebay (EBAY)
  5. Alcan (AL)
  6. Las Vegas Sands (LVS)
  7. Kimberly Clark (KMB)
  8. Southern Co (SO)
  9. FPL Group (FPL)
  10. Celgene (CELG)
  11. Kellogg (K)
  12. Garmin (GRMN)
  13. Broadcom (BRCM)
  14. Macronix Intl (MXIC)
  15. Hilton Hotels (HLT)
  16. LG Philips (LPL)
  17. Biogen Idec (BIIB)
  18. Paychex (PAYX)
  19. Wrigley (WWY)
  20. Juniper Networks (JNPR)
  21. Wynn Resorts (WYNN)
  22. Lyondell Chemical (LYO)
  23. Nidec (NJ)
  24. Leucadia (LUK)
  25. Intuitive Surgical (ISRG)
  26. Intercontinental Hotel (IHG)
  27. Hudson City Bancorp (HCBK)
  28. American Real Estate (ACP)
  29. Amylin Pharma (AMLN)
  30. Waters Corp (WAT)
  31. Tim Hortons (THI)
  32. Dade Behring (DADE)
  33. Whole Foods Market (WFMI)
  34. Barr Pharma (BRL)
  35. Iron Mountain (IRM)
  36. Navteq (NVT)
  37. Dow Jones (DJ)
  38. Vertex Pharma (VRTX)
  39. Covance (CVD)
  40. Trimble Navigation (TRMB)
  41. Intersil Corp (ISIL)
  42. LDK Solar (LDK)
  43. Weight Watchers (WTW)
  44. Stericycle (SRCL)
  45. Hansen Natural (HANS)
  46. China South Air (ZNH)
  47. Checkfree Corp (CKFR)
  48. Chaparral Steel (CHAP)

I'm not surprised seeing consumer staples companies such as Procter and Gamble (PG) and Kellogg (K). I'm not surprised seeing healthcare stocks such as Celgene (CELG).

As many commentators have pointed out, technology can be good. Ebay (EBAY) is on the list, and Location Based Service stocks such as Garmin (GRMN), Navteq (NVT), and Trimble (TRMB) are good. I'm surprised that Broadcom (BRCM) is on the list.

I also noticed several resorts such as WYNN and Las Vegas Sands (LVS), most likely because of Macau presence and eased Macau rules, and that even in slowdowns, people can still gamble.

Hotels such as Hilton Hotels (HLT) and Intercontinental Hotel (IHG) are also on the list.

I'm surprised by Hudson City Bancorp (HCBK), a Financial. How is this surviving?

I'm also surprised by American Real Estate (ACP). How is this surviving in this market?

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