New 52-Week Lows : With the market down today, the new 52-week low list is long. It is led by tech stocks, notably Semis and Semi Equipment... Semis (AMCC, AMIS, ATHR, CNXT, INTC, KOPN, NETL, NVDA, RFMD, SGTL, TQNT, VTSS, ZRAN), Semi Equip (AMAT, BRKS, CYMI, LTXX, NVLS, UTEK), Airlines (AWA, CAL, FRNT, PNCL, SKYW), Online Commerce (DSCM, FLWS, ORBZ, REDE), Brokers (MER, PJC), Fuel Cells (BLDP, MCEL), Telecom (NOK, T, WFII), Storage/Networking (BRCD, CIEN, CORV, ELX, SCMR).
With thoughts of a prolonged recession and increased savings rate from consumers, it means upscale spending should continue to be down even as the economy improves. This should affect Saks (SKS) and Tiffany's (TIF) and WFMI and Nordstrom's. It is also reported that casino business was down in December. That should affect LVS, MGM, WYNN, BYD. I haven't had a chance to review these stocks or add more. Just noting it with plan to review soon for action.
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