I just mentioned stocks in a base formation sometimes being goosed to give a breakout. ANF (Abercrombie) got an upgrade today and that may be what is happening. I see these kind of breakouts as more risky than those on company news such as earnings. chart
Relatively calm news from the Middle East over the weekend and the civil unrest premium has fizzed out of oil, taking gold and mining shares down with it. The XAU down about 3% with only about a 1% dip in spot gold. NEM (Newmont) on the NYSE volume leaders. The mining stocks often lead, so may be telegraphing further weakness in spot gold. I see it as high risk for both bulls and bears.
GM again touches 20. However, DCX or TM look like better plays at this time. When I bought GM end-of-year tax selling was a big factor. (General Motors, Daimler Chrysler, Toyota) . DCX and TM have less of a problem with the big bugaboos for GM and F, healthcare and pensions.
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