The highest scoring names in mid cap from 1 year ago (4/10/2013) returned 548 bps more than the S&P 500.  The best performers have been ILMN up 148%, UA up 92%, GMCR up 78%, SIVB up 74%, VRX up 67%, STZ up 67%, and NUVA up 67%.

• The best mid cap sector is utilities.
• The top scoring mid cap industry is gas utilities.

The average mid cap score is 53.83, below the four week moving average score of 57. The average mid cap is trading -14.64% below its 52 week high, 1.54% above its 200 dma, has 6.2 days to cover held short, and is expected to grow earnings by 19% next year.
 
Utilities and basic materials score above average. Industrial goods, consumer goods, healthcare, technology, and financials score in line.  Services score poorly and face stiff headwinds in summer (see chart later in this report).
 

The following chart shows average mid cap scores by sector since 2010.

The best mid cap industry is gas utilities (PNY, EGN). Trucking (ODFL, HTLD, KNX) is strong and offers upside on capacity driven pricing power. According to Cass, March U.S. freight shipment volume grew 6.6% month-over-month, following its 7.3% MoM improvement in February.  Shipments were up 0.4% YoY and 4.6% higher than two years ago. Higher volume is also reflected in improving truck orders, with both Daimler and Volvo reporting production line increases. Orders between December and March for Class 8 trucks marked the best four month period since 2006.  Oil & gas equipment & services (PDS, RES, EXH) are top scoring. Industrial metals & minerals (ARLP) round out the mid cap best industry ranking this week. Coal stockpiles at utilities are significantly below the five year average for this time of year.

 In mid cap basics, buy oil & gas equipment & services, industrial metals & minerals, and synthetics (CMP, POL). In consumer goods, focus on textiles (CRI, COLM) and processed & packaged goods (FLO). The top financials groups include accident & health insurance (AIZ), REITs (TCO, DEI, KRC, BMR), and regional banks (SIVB, OZRK, FHN). In healthcare, concentrate on medical instruments (NUVA, TFX). The best industrial goods groups are aerospace/defense (CAE, ATK, ESL, CW, HXL) and diversified machinery (ITT, MIDD). The top industries in services include trucking, education (APOL, DV), and rental & leasing (R, AER).  Consumer discretionary is historically weak once we move out of April -- reduce weights into month end.The following chart shows relative returns for the XLY by month over the past ten years.

In technology, buy broad line semi (CAVM), computer peripherals (EFII, NICE), and semi equipment (TER).