Fridays reversal was good to see. Bank of America (BAC), Wells Fargo (WFC) and others were down sharply early on. However at the end of the day, they closed well off of their lows for the day.
Many REITS had a good day. They had been battered lately because of increasing worries about the economy, profit taking and the uncertain outlook. Many also retested their prior lows.
Some stocks have held up very well during this latest round of selling including; ENSG, EMS, QSII, SXCI, TSYS, and STJ. On the flip side however, a lot of the supposed 'safe' stocks in the consumer durables area such as food or household items have been under weakness including; Kraft (KFT), Johnson & Johnson (JNJ), and Procter & Gamble (PG) to name a few.
Enjoy the rest of your weekend!
Arthur Daret