Here is a look at the top industries of 2010 and where they stand right now. I feel that such an analysis is quite necessary and helpful as it makes sense to go with the strongest stocks in the strongest groups.
Music and Video Stores - Up 148.6% in 2010. Unless there is a strong upwards move in the next couple of days, this chart looks set to head lower. Failed test of MA(50) on Friday. Watch out for a break of 430 which would result in lower lows being set.
Resorts and Casinos - Up 118.3% in 2010. Nice move on Friday means this group still has legs. Watchout for a test of December highs to determine where it is headed.
Broadcasting Radio - Up 116.1% in 2010. The fact that it made a nice move up in the slow second half of December is impressive. Looks a tad extended but it ran after a rather nice period of consolidation. Worth buying on dips until MA(50) is broken.
Silver - Up 99.7% in 2010. Nice period of consolidation for over a month now. The consolidation pattern seems to be getting tighter and a big move seems likely in the next few days.
Auto Parts - Up 69.7% in 2010. Talk about a nice uptrend! Consolidating nicely around MA(20). A buy on new highs.
Here are my predictions for 2011.
Take care and good luck!