Wednesday, January 2, 2008

Sector Clues in First Hour of 2008?

It’s never too early to try to discern what some of the new investing themes for 2008 might be, which is why I have included the StockCharts.com sector snapshot for the first hour of trading.

Given the low ISM numbers this morning, I am not surprised to see weakness across the equity spectrum. A couple of commodity sectors – gold and natural gas among them – are continuing their strong end of 2007 momentum into the beginning of the new year. One pocket of bullishness in the first hour that surprised me and is worth watching going forward is biotech.

On the downside, banks continue to get hammered, while REITs are currently in the middle of the pack.

Posted by Bill Luby at 7:53 AM

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