Saturday, August 10, 2013

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Of my 80 markets that I keep track of the beeeg wiener's this week was any thing that was DOWN big for the year, as it appears Da Boyz are rotating out of the winner's and bottom fishing the loser's, with Chile, gold and silver, Italy, Spain and oil leading the way.
Also moving were the "material" countries, like Brazil, Australia and Mexico, as data out of that most trusted of sources, the Commies in China, came in better than expected on both imports and exports, it's kind of funny though as the FXI finished DOWN on the week about 1.3%, hhhhmmmmm. Belgium, the Netherlands and France finished higher as their indexes are composed of mostly steel stocks.

Again, being kind of "funny", the beeeg loser was TAIWAN, you woulda thunk they would have been the big winner on the "news", followed by natural gas, our Transports, South Korea, Japan and Hong Kong, all very strange stuff if you ask me. Our worst loser's were the financials, XLF, at minus 1.87%, followed by SMH,  OIH, DIA, XLI, IWM, XLY, XLU, XLE AND SPY, the only "X" that finished higher on the week was materials, XLB, almost completely because of the huge moves in the worst sector's of the year, coal and steel stocks.

The main timer "indicator", the $NYSI, has been on a sell since late July based on the cross over of the 10 MA, it's made a MUCH lower high than it did in May, and the MACD is just now issuing a sell signal like it did back in May, all very good stuff it is.

The main men, the $NYAD's, continue to roll over off the double top in June that is a NON-confirmation of the new highs in the "markets", this is a warning that until they get back over those May highs the market is not acting healthy.

Our steel stocks all look almost exactly the same, as they all rallied right into prior resistance of the last few months, that's on X, AKS and STLD. STLD has the best "metrics", as they actually, GASP!!, MAKE money, hahahahaha. All of them could make huge moves if they can break over this resistance, I included Alkie, AA, as they rallied 3% Friday with the other ones, they will probably gap up Monday right into that down trend line, but, like those udder ones, if they can get over it, HELL, they could rally another 20 or 30 fricking cents, hahahahahahaha!!

This cracks me up, typical Wall Street BULL SHIT, BofA: 'The Market Is Far From Overvalued' Based On Almost Every Popular Metric, they have all those faaaaannntasic P/E's on there, but EXCLUDE the single one called the ACTUAL TTM P/E, hahahahahahahahahaha, probably because it doesn't come CLOSE to fitting with the rest of their BS, as the current TTM P/E at 19.29 is 25% HIGHER than the median over the last 100 plus years,, sigh, wad ever.


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