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Down, then up, then down, then a little bit up…the market was a bit indecisive today. Unfortunately, our Buy List was not in a happy place. The S&P 500 lost 0.12%, and our Buy List dropped 0.67%. Laggards included Biomet (BMET), Stryker (SYK) and CACI (CAI). Medtronic (MDT) reported that its implantable obesity device didn’t meet its goal.

Oil cracked $60 a barrel again. I’m inclined to think this is a classic bear market rally. Although I have to admit that energy stocks have been surprisingly strong lately. The Dow Energy Index is up nearly 13% since mid-July. I’d be curious to see if it will hit a new high. Right now, I doubt it will.

Posted by edelfenbein at December 8, 2005 6:12 PM