The rotation into defense stocks continues to be key here. The outperformance of this sector, most notably BA, GD, LLL, NOC, and even the poor dog RTN has been incredible as of late. The rotation into this sector seemed to occur just as the semi-chip sector started to roll-over.
I went into ROK yesterday because of weakness in a strong sector, but buying into the defense stocks is always a tough decision. There are so many things that can impact them other than their fundamentals. If Bin Laden farts or Cheney coughs they can make a move.
at the Loews Hotel in Miami has helped this group out today. Final day of conference, tomorrow with presentations by BA and ROK and LLL. LLL making new highs for the move.
LLL making new highs again with positive presentation at Lehman Industrial Conference. Group acts well!
The only sector UP on the board today besides the energy sector with strong demand for oil drillers on the tighter than expected weekly API numbers that came out earlier today. LLL LMT NOC SII BJS HAL
IDNX: $8.00 Facial recognition software contract with the US Dept. of Defense announced yesterday. Also featured in Time Magazine. Was trading at $5.70 last Thursday. http://www.time.com/time/insidebiz/article/0,9171,1101040405-605473-1,00.html
IPIX from $4.00 on last Friday to over $12.00 on Monday. TBUS from $2.50 on last Friday to over $8.00 on Tuesday. Anything with a camera is going NUTS!!! :eek: