The major indices finished mixed today, with the Dow and the Nasdaq gaining by 20 and 15 points, but the S&P 500 losing less than one point.
The troubling consumer confidence number number released this morning teamed 
with the widely expected, but still very negative existing home sales to provide a negative sentiment to start the trading day today. Stocks were able to recover through the day though and finished the day little changed.
Technology stocks were the true standout today. Motorola Inc. (NYSE:MOT) shares rose by 3.16% after the company introduced a new chipset for handheld devices. Apple Inc. (Nasdaq:AAPL) shares hit a new 52 week high today at $153.22, continuing its recent strong run. Research in Motion Limited (Nasdaq:RIMM) gained 2.45% to close at another all-time high today.
Defense contractors were another area of strength today, led by Lockheed Martin (NYSE:LMT) which traded higher by 2.55% after winning a major contract from NASA. General Dynamics Corporation (NYSE:GD) gained 3.13% after the company won a $24 million contract from the Army.
Energy was the weakest sector today, as crude oil prices fell back under $80 a barrel. Valero Energy Corporation (NYSE:VLO) fell by 2.85% on the day. Chevron Corporation (NYSE:CVX) led the group of major integrated oil stocks lower, losing 2.62% today.
Housing stocks were hurt badly again today after Lennar Corporation (NYSE:LEN) reported a record third quarter loss. LEN shares lost almost 4% on huge volume today. Pulte Homes (NYSE:PHM) and KB Home (NYSE:KBH) both dropped by 3.05% and 2.53%, falling in tandem with Lennar.
Notable 52 week highs:
- Crocs Inc. (Nasdaq:CROX)- shares gained 3.87% on more than double their normal volume.
- Colgate-Palmolive (NYSE:CL)- gained 1.48% to close at a new all-time high.
- United Technologies Corp (NYSE:UTX)- gained 1.58% and ended at a new all-time high.
Notable 52 Week Lows
- Sears Holdings Corp (Nasdaq:SHLD)- lost 3.41% on the day.
- Staples Corporation (Nasdaq:SPLS)- lost 3.81% on the day.
- Circuit City Stores (NYSE:CC) lost 2.83% to continue its terrible trading action of late.
Market internals were actually fairly negative, with more new lows than highs and more declining issues than advancing issues. Volume was about average, but was far below the volume of last week when stocks advanced nicely.
The bears will point to the slowly deteriorating market internals as sign of a downturn in the markets coming, while the bulls will point to the markets ability to hold its ground even with negative economic news. Stay tuned to the RSS Feed here at GrowYourFunds as we continue to watch and see which side has it right.
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