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New All-Time Highs in an Overvalued Market

Medical: Equal-weight -- (817 stocks) 88 stocks have buy ratings and 174 are rated sell.

Multi-Sector Conglomerates: Overweight -- (49 stocks) 36 stocks or 73.5% have buy ratings and none have sell ratings.

Two notable buy rated stocks are in this sector. Dow components 3M Company (MMM - Get Report) ($115.48) and United Technologies (UTX) ($101.34). Both set new multi-year highs on Thursday and both report quarterly results next week. I will be profiling these next week before they report earnings.

Oils-Energy: Underweight -- (557 stocks) Only ten stocks have buy ratings and 183, or 32.9% are rated strong sell or sell.

Retail-Wholesale: Overweight -- (358 stocks) 288 stocks or 80.4% have buy ratings and only seven have sell ratings.

Transportation: Avoid source of funds -- (182 stocks) Only eight have buy ratings and 144, or 79.1% are rated strong sell or sell.
[Read: <a target="blank" data-add-tracking="true" href=""><em>Detroit Files Bankruptcy, Coincides with U.S. Credit Upgrade </em></a>]

Utilities: Overweight -- (215 stocks) 57 have strong buy ratings and 135 have buy ratings, thus 192 or 89.3% are buy rated.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at
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GOOG $626.91 0.00%
KO $40.39 0.00%
MMM $143.20 0.00%
MSFT $45.57 0.00%
PHM $19.14 0.00%


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