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Industry Group Analysis
This Week: Electronic Groups Light Up the Big Chart
1. Introduction
2. Groups that are Heating Up
3. Groups that are Cooling Off
4. On the Radar Screen this Week
5. Stock in Focus
6. Disclaimer
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1. Introduction
On the up side, no other set of industry groups in the S&P
500 performed better last week than the several industry
groups under the Electronics label. A few groups in
Machinery performed well too, but they were no match for
the electronic groups. On the down side, the Biotech
industry group slipped last week after being one of the
hottest groups on the big chart in the previous week. Two
industry groups that were on the radar screen last week
({.ESE} and {.UDI}) return once again this week; they
continue to perform well, but have yet to make significant
breakthroughs on the big chart.
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2. Groups that are Heating Up
The Electronics groups ruled the big chart last week with
four groups under the Electronics umbrella moving into new
areas of the big chart. In total, eleven industry groups
in the Electronics subset improved on the big chart last
week. The four Electronic groups that improved the most
last week were Electronics/Component-Control {.ECC},
Electronics/Defense {.EDE}, Electronics/Industry Leaders
{.EIL}, and Electronics/Motors {.EMO}. Electronic
Components and Electronic Industry Leaders moved from a red
on the big chart to a yellow reading, which indicates that
these groups are now in the higher 60th to 80th percentile
of all industry groups. On the other hand, Electronics
Defense and Electronic Motors both moved from a yellow on
the big chart to a green reading, which indicates that these
groups are now in the top 20th percentile of all industry
groups. The Electronic Component group advanced 4.5 percent
last week on the strength of performances by Conductus
{CDTS}, Drexler Technology {DRXR}, Jabil Circuit {JBL}, and
California Amplifier {CAMP}.
____________________________________________________________
3. Groups that are Cooling Off
After staking a claim on the big chart's hot list last week,
the Drugs/Biotechnology {.DBI} group cooled off considerably
last week. The biotechs fell into the red, or the lower
60th percentile of all industry groups in the S&P 500, from
its former yellow position (the higher 60th to 80th
percentile of industry group performance). Several
noticeable names in this group such as Techne {TECH}, Chiron
{CHIR}, Immunex {IMNX} and Amgen {AMGN} contributed to the
slide.
____________________________________________________________
4. On the Radar Screen this Week
Once again, keep an eye on both the Electronics/
Semiconductor {.ESE} and the Utilities/Diversified {.UDI}
industry groups for this week. Last week, the
semiconductors improved significantly, but they remain in
the lower 60th percentile of all the industry groups. Next
week, look for the widely-watched semiconductor group to
break into the yellow (the higher 60th to 80th percentile
of industry group performance) on the big chart. The
diversified utilities gained 6.4 percent for the week, but
could not break into the superior red position (the top 20th
percentile of all industry groups) on the big chart.
However, this group is presently teetering on the yellow-red
border. With that in mind, don't be surprised if this group
makes into the red this week.
____________________________________________________________
5. Stocks In Focus
Conductus' stock was the
shining star of the Electronic Component group with a
27.8 percent gain. CDTS's gain was so large last week
because the superconductor maker received a major purchase
order for its superconducting wireless systems. Dobson
Communications ordered at least 200 of Conductus' wireless
systems, which will be deployed throughout the United States
over the next two years. This order is significant for this
small cap superconductor company because it represents its
first meaningful commercial order ever. Conductus entered
a major licensing agreement with General Dynamics in the
second quarter of 1999, but had never received a large
commercial order until August 8th of this year. Previously,
the company had relied primarily on government research
contracts for its revenues.
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6. Disclaimer
WallStreetCity’s Industry Group Analysis is published solely
for informational purposes and is not a solicitation or an
offer to buy or sell any stock, mutual fund or other security.
The information obtained from internal and external sources
is considered reliable, but has not been independently
verified for accuracy and completeness. WallStreetCity, its
employees, and/or officers and directors, may from time to
time have a position in the securities mentioned and may sell
or buy such securities.
Trading involves risk, including possible loss of principle
and other losses. Trading results may vary. No
representations are being made that these techniques will
result in or guarantee profits in trading. Past performance
is no indication of future results.
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