Saturday, March 29, 2014

WEEKLY WRAP UP



Hhhhmmmptt, I shut down at noon ET as we were not acting like a true power trend day, as you usually don't give any thing back, so I get back to watch Fast Money and I got the impression the stinking markets had gone to Da Moooooooon, hahahahahaha! Geeze, the DOW lost 140 points off that high at one point, the NasDOGS would have closed negative if it hadn't have been for some nice tape painting the last 10 minutes of the day, sigh, wad ever, not a good tape when we keep selling the shit out of these gap ups.


The "risk on" market, the little guys, IWM, gave back 1.71, or 1.47% off their highs, to actually close DOWN on the day, it never ceases to amaze me about how when they LEAD us higher, like they should, the bulls crow like the cock of the walk, but when they don't they say they don't matter, wad ever. They are obviously due for a bounce, whether we get it on Monday or not is hard to say, as Mondays have not been to kind to us this year.


The main men, the $NYAD's, did good on Friday, closing higher on the day, and, COULD, be getting ready to lead us back higher.


HOWEVER, the $NYSI remains on a solid SELL signal.


The good part about the $NYMO is it moved higher Friday, the bad part is that it never got over sold, I mean, -40 is NOTHING, you can see the two previous bottoms came at -60, and to get a decent bottom you would like to see -100.


My market monitor weirded me again Friday, as you can see in the red box we actually had more stocks DOWN 4% or more than up, which really surprised me as Bubblevision said we went to Da stinking Mooooooonnnn!


The big winners in my 74 markets this week were mostly EM markets, with Turkey and Brazil leading the way, the only "local" markets on there, IE US, were QID, up 4.42%, which don't sound to good for the NasDOGS, QQQ, the other two were UNG and OIH, up 4.25% and 2.76%, which explains the tenth of a percent uptick in consumer spending that was being cheered.


GDX just managed to squeek out the IWM as the big loser this week, down 5.56% to 3.39% for the little guys, they were followed by GLD and SLV, then the Q's made a good showing, down 2.19%, SPY down .38%, with the big winner in the majors being the DOW for the second straight week, up a massive .14%.


The big winners in the S and P 500 this week were a couple of the beaten up ones, SYMC and GME, plus there was a whole bunch of energy and material stocks, like NBL, MKC, GLW, SLB, NBR, BHI, NFX, NOV, COP, even Alkie, AA, showed up on the list, as they continue to LOVE the two billion they lost in the last earnings report.


The big losers list explained the drop in the NasDOGS, hahahahaha, it's full of them, with the three leaders being NFLX, TRIP, FB, all down over 10%, I think there were 11 more of them on the list, including way down at the bottom, AMZN, which was the chart guys focus stock on Fast Money, as he laid out the case for it going to $300, and, POSSIBLY, lower.

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