cyclical

 

When I read this post by Ivan Hoff, I decided to look at the new high and new lows lists, which I never do now, but used to do regularly back in the days when I read The Wall Street Journal every day.  Now our philosophies for doing so differ.  He is looking for buy high, sell higher, and I am looking for misunderstood companies that are first safe, then cheap.

So after the close, I copied the new highs and new lows for the NYSE, NASDAQ, and Amex as a group.  There were 203 highs and 89 lows.

But then I noticed something funny: a large number (53) of the new highs came from preferred stock, hybrid debt, and bonds — yieldy stuff.  With the lows, there was some weird stuff, but 7 companies had rights and warrants, hitting new lows, and one new muni bond fund, NKGD, which was just noise.

Then I looked at the industries that they were in, mostly to separate out the ETPs and CEFs from everything else.  Here are the tables:

New Highs

Values
Row Labels Sum of mktcap Count of ticker
0715 – Insurance (Property & Casualty)

205,242

2

0524 – Tobacco

97,162

2

0803 – Biotechnology & Drugs

62,010

8

0521 – Personal & Household Products

40,837

2

0963 – Retail (Specialty Non-Apparel)

38,396

1

1203 – Electric Utilities

20,944

7

0515 – Food Processing

17,571

1

0721 – Misc. Financial Services

15,158

57

0115 – Forestry & Wood Products

11,980

1

0727 – Regional Banks

6,434

22

0806 – Healthcare Facilities

5,358

3

1209 – Water Utilities

4,356

2

1106 – Airline

3,595

2

1206 – Natural Gas Utilities

3,363

2

0812 – Medical Equipment & Supplies

3,209

4

0957 – Retail (Grocery)

2,472

3

0951 – Retail (Department & Discount)

2,356

1

1018 – Computer Services

2,039

1

1024 – Electronic Instruments & Controls

1,790

1

0612 – Oil Well Services & Equipment

1,335

1

0730 – S&Ls/Savings Banks

1,290

9

0915 – Communications Services

1,007

2

1036 – Software & Programming

832

2

0718 – Investment Services

548

2

0209 – Construction – Supplies and Fixtures

494

2

0712 – Insurance (Miscellaneous)

347

1

0942 – Restaurants

333

1

0703 – Consumer Financial Services

322

2

1033 – Semiconductors

316

1

0421 – Furniture & Fixtures

120

1

0909 – Business Services

33

1

1003 – Communications Equipment

31

1

0133 – Paper & Paper Products

17

1

0912 – Casinos & Gaming

0

1

Grand Total

551,295

150

Exclude Misc Fin Svcs

536,137

93

New Lows

Values
Row Labels Sum of mktcap Count of ticker
0118 – Gold & Silver

41,488

9

1036 – Software & Programming

16,268

7

1003 – Communications Equipment

14,856

7

0515 – Food Processing

12,732

2

1033 – Semiconductors

10,351

2

1109 – Misc. Transportation

8,131

1

0206 – Construction & Agricultural Machinery

5,849

1

0948 – Retail (Catalog & Mail Order)

5,451

1

0951 – Retail (Department & Discount)

4,837

1

0603 – Coal

4,479

2

0424 – Jewelry & Silverware

4,243

1

0103 – Chemical Manufacturing

3,933

3

0203 – Aerospace and Defense

2,995

1

1018 – Computer Services

2,851

3

0218 – Misc. Capital Goods

2,300

2

0924 – Personal Services

2,292

1

0927 – Printing & Publishing

2,043

1

0124 – Metal Mining

2,024

2

0721 – Misc. Financial Services

1,903

2

0215 – Construction Services

1,802

1

0939 – Rental & Leasing

1,760

1

0915 – Communications Services

1,616

1

0418 – Footwear

1,439

1

1024 – Electronic Instruments & Controls

1,384

2

0909 – Business Services

1,223

1

0812 – Medical Equipment & Supplies

1,077

5

0612 – Oil Well Services & Equipment

1,075

1

0918 – Hotels & Motels

937

1

0969 – Schools

836

1

0609 – Oil & Gas Operations

820

1

0933 – Real Estate Operations

731

1

0415 – Auto & Truck Parts

703

2

0127 – Misc. Fabricated Products

693

2

1021 – Computer Storage Devices

512

2

0966 – Retail (Technology)

418

1

0703 – Consumer Financial Services

195

1

0806 – Healthcare Facilities

64

1

0727 – Regional Banks

61

1

0803 – Biotechnology & Drugs

54

2

0930 – Printing Services

6

1

0942 – Restaurants

5

1

0421 – Furniture & Fixtures

4

1

Grand Total

166,437

81

Exclude Misc Fin Svcs

164,534

79

By the time you are done separating out the passive vehicles, because one is miscategorized in the new highs, you have for regular stocks 92 highs versus 79 lows.  The

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