Accumulation in Defense Stocks
By Johns Wu on Jun 05, 2006
On a day where almost every stock on the market hemorrhaged cash, I noticed that America's favorite defense stocks, Northrop Grumman Corp (NOC), Lockheed Martin Corp. (LMT), and General Dynamics Corp. (GD) were all relatively flat.
This divergence from the market signals "relative strength", a concept inspired by Nasdaq Trader. It means that smart money is out buying on a day that everyone else is selling.
With all the impending conflict in the Middle East, like today's threat from Iran to create trouble in the Strait of Hormuz, I'm sure that military action is right around the corner.
This entry was posted on Monday, June 5th, 2006 at 11:52 pm and is filed under Market News.
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