The RF to Light 100 rose 4% over the last 3 weeks, YTD +9% at 2315 - having recovered most of the correction (see tab "Vorlop's signals"). The Total Market cap value stands now at $2250b, not far away from its peak of about $2300b. The 2nd Qtr financials are all in now - another excellent quarter. With US GDP further eroding from 2.9 to 2.6% and a revival in US growth not in clear sight, I assume somewhat limited upside potential.
In the News: Hopes rise for soft landing in US economy. Bullish sentiment helps Dow reach a six-year high. Next week, this bull market will celebrate its 4th birthday. Many market strategists say that the current bull market is a cyclical rally stuck within a secular bear. Solid but unspectacular returns are a classic symptom of a cyclical bull within bear market. I think that is a good description of the performance of the RF to Light 100. Expect less and probably trade more as a long term investor.
New Highs: ANEN, AVCI, BLS, CMCSA, CSCO, FSL, HITT, HLIT, HPQ, LMT, MOT, OPLK, ROG, RTN, T, TDY, VZ.New Lows: MSCC, ZHNE
Market oversold indicator: down to 77%
Market Overbought indicator: down to 48%
Top 5 - last 3 weeks: Freescale (23%), Vitesse (21%), MRV (21%), Juniper (20%), Advanced Energy (19%)
YTD: Avici (121%), Broadwing (109%), Hittite (96%), Finisar (75%), Sirenza (71%)
Bottom 5 - last 3 weeks: Microsemi (-28%), ATC (-12%), Anadigics (-11%), Sirenza (-7%)
YTD: Zhone (-50%), Vitesse (-48%), Bookham (-44%), California Amplifier (-42%), Powerwave (-40%)
by Sectors:
Space & Defense : + 3%, YTD +13%
Communic. Services: + 6%, YTD +25%
Network Systems : + 4%, YTD - 7%
RF Semiconductors : + 4%, YTD + 3%
RF Components : + 1%, YTD +11%
F/O Components : + 4%, YTD +23%
Miscell. : + 5%, YTD + 8%
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RF to Light 100 : + 4%, YTd + 9%