Wednesday, February 08, 2006

Laggards Push Indexes Higher

I didn't like today's move up. Pfizer (PFE) (Up 5.74%) & Verizon (VZ) (Up 3.47%) inflated the Dow while Cisco (CSCO) (7.24%) and Dell (DELL) (6.16%) inflated the Nasdaq. Most of the leaders had a flat or down day see: AMD, MRVL, BRCM, ABX, JOYG, PCU, DO, & GOOG. Today's move higher is overdone by the bulls. I would not want to own Pfizer, Verizon, Cisco, or Dell. They are hardly showing any earnings growth, no new groundbreaking technology, and every mutual fund already owns them.


Blogger muckdog said...

Or as Yogi Berra might say, "Nobody likes Verizon anymore; it's too over-owned."

2/08/2006 8:42 PM  

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