Sunday, March 23, 2014

The Q's put on a horrendous looking bearish engulfing bar on Friday, with the biggest volume since December, the HMA is on sell, the ADX is right on the verge of going on sell, every indicator on the bottom chart is on sell, the $NYSI remains on sell, we might be setting up an avalanche pattern, with the bollinger bands opening up from their tight compression and price riding the lower bollinger down like in late January, all of which tells me the FED has done their job and emboldened the shorts, setting them up for one of those magical over night futures rallies by Da Boyz on Da Street.

Brazil, EWZ, was the big winner in my market monitor this week, up 6.55% this week, the only reason I can come up with for this surge is when I look at the news articles for the last ten days under the chart in FinViz I find 27 NEGATIVE articles articles about it, hahahahahahaha, take that any way you want. Our best sector was OIH, up 3.65%, the Semis, SMH, 2.82%, then the financials, XLF, up 2.75% even after the sell the holy shit out of the gap up from the stress test news on Thursday after the close. The best main index was the stoogie old DIA, up 1.23% on the week, the little guys, IWM, .91%, followed by the SPY at .83%, with the NasDOGS, QQQ, bringing up the rear at .37%. 

Any thing with "Precious" in it's name was not so precious this week, GDX down 7.97%, SLV 5.33%, GLD 3.48%, the big Country winner the last few weeks, EIDO, came back to earth a little, down 3.64%, DBA, DBC and UNG gave a little relief to consumers this week, utilities and bonds were down on the rising interest rates, XLU .93% and TLT .27%. 

FSLR flew over 35% this week, leading the S and P 500 stocks, when, after gapping down 16% on ACTUAL earnings a few weeks ago, they came out and said they were going to do GREAT this year, REALLY, HONEST! "X" came in second on the week, up 12.64%, after MT came out and said they were raising prices.......................(that means I have not comment), HPQ was up almost 10% when they said they were going to join the other NON-profitable 3D printer companies, SCHW was up 9.5% on probably one of the most cautionary headlines I can imagine, Discount brokers' volumes rise as small investors pile into stocks, hhhhhmmmmmmmmmm.........

I don't "DO" biotech, mainly because they've been the hottest sector for quite some time, and I NEVER catch the hot sector, sigh, I mention that because some of them showed up on the loser's list this week, like ALXN, VRTX, REGN, FRX, BIIB, ABC, GILD, PRGO, I actually don't remember when I've seen so many stocks in one sector show up on the top 20 loser's in the S and P in one week. Most of the drop came on Friday with reports of four Democratic Congressmen requesting pricing "methods", which, since we have the highest health care costs in the world mostly due to those very same Congressmen, I can only surmise they want to know why the pricing isn't HIGHER!

CONGRATULATIONS TO THE S AND P 500!!!!!!! After almost 15 years of hearing ANAL-yst "guesstimates", it, APPEARS, the S and P may, FINALLY, earn $100, WOOOOO HOOOOOO! We still have 3 companies to report, so Ya just never know, it's still going to be a squeaker, but after massive share repurchases, they may have reduced the share count just enough to get $100.23 in earnings, hahahahahahahahaha, it don't get much closer than that! That equates to a TTM P/E of 18.48 at the close of December 31, 2013, leaving PLENTY of room for the infamous, "MULTIPLE EXPANSION"..................... come on people, let's get that P/E back to over 30, where it was when they started guesstimating $100 in earnings.
Speaking of, "guesstimates", check out that $30 they are showing for the first quarter of this year, hhhhhhhhmmmmmm, we won't know until the end of June as to what they come in at, but what do you think the odds are that we make that number???? They are "guesstimating" $120.60 for the entire 2014, what do Ya figure the odds of hitting THAT are????????????????


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