TURNING WORM?

After years of getting it wrong with their constant yapping about "buy large caps," the talking heads on CNBC etc. may finally be getting it right.

For this quarter (25 days) the DJIA is +6%, the OEX +5.3% and the SPX +5.2% vs. a RUT2K gain of 3.9% and a MID Cap gain of 4.7%. Large Cap Growth also outperforming with a 5% gain vs. a Small Cap Growth gain of 4.5%; Large Cap Value also winning with a 5.3% gain vs. 3.9% for Small Cap Value.

Tech is also doing well with the NDX and Naz Comp both coming in at +6% while the MSH is +7.6%.

The hardest fact to believe (lol) is in the oil patch as the XOI comes in at +8.7%, the OIH +7.7% and the XLE at +6.4%. Someone please send a note to the talking heads, the oil patch stocks are outdoing all the major averages even as the DJIA makes all time/7 year highs.

Year to date:

RUT2K +5.4%

Mid Caps- +10.4%

SPX +5.4%

OEX +3.6%

NAZ COMPQ +5.5%

OIH +12.4%

XLE +9.4%

GS +13.2%

GOOG +3.8%

BANK BKX (RED)

XAL -9%

Trannies +15%

Who would have thought that the financials could be red while the DJIA was at a new all time high or the trannies and the oil patch would be moving higher in tandem. Markets do what they do regardless of the talking heads or the conventional wisdom.