The momentum has been reversed from the upside to the downside, and so they are capitalized on that by shorting stocks that had been popular -- the aggressive growth stocks
More Quotes from Bernadette Murphy:
While some of the retailers have been under a lot of pressure, Kohl has really held its own, because it is a growth retailer.Bernadette Murphy
Frequently in the fall of the years, there is a decline or correction in the stock market, and November tends to be the recovery month, ... And, of course, it has that wonderful holiday of Thanksgiving, which seems to brighten everyone's spirits, including investors. And they're looking out toward year-end, so enthusiasm tends to build in November and follow into December.
Bernadette Murphy
In the industrial machinery area I've noticed Ingersoll-Rand has really created a wonderful base and demand is breaking it out,
Bernadette Murphy
A problem with the banking industry is that it's very difficult to evaluate what loans banks have in their portfolios. At times like this, banks will come under selling pressure.
Bernadette Murphy
The semiconductors Applied Materials is sort of like a kingpin for that whole industry -- and their earnings. It's going to be very interesting to watch the reaction. Semiconductors actually reached their highs in March. They sold off, and set lower highs in June-July. It's critical that they get through those June-July highs. And so we're going to have to watch them to make sure. They're right now at the lower part of their trading ranges. It's important to watch what happens now,
Bernadette Murphy
I would like to say that I see the market broadening, ... But I really don't. People have been talking about the Russell 2000, because that has been performing so well. It's 2000 of the smallest stocks. Now, the problem is though that most of the gains have been in the health care area, which are the biotech stocks. And that's up over 50 percent since the end of the year. And the other area is the technology area, which has been up substantially. And that's what's been lifting that particular index.
Bernadette Murphy
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