OVER THE NEXT 10 DAYS:
MSFT: 60% CHANCE HIGHER, TARGET $41
QQQ: 60% CHANCE HIGHER, TARGET $94
IWM: 70% CHANCE HIGHER, TARGET $123
GOOG: 70% CHANCE HIGHER, TARGET $1300
SPY: 70% CHANCE HIGHER, TARGET $190
CRM: 70% CHANCE HIGHER, TARGET $72
I have no comment on the above, I, DO, however, intend on doing a spread sheet on their "predictions" and see what kind of reliability they have.........they currently have about 2,074 "ideas", so, it may take me a............COUPLE................ of years. Once in a long while they give you back test results, for instance, since 1986 their results on MSFT have been 90% correct.
Ok, after four or five hours I do have a comment, I ran the results back to mid December, mainly because I wanted to get the predictions going into the drop in January, and out of 305 predictions the thing was wrong on 166 of them, or 54%, so he's right about 46% of the time, typical.
In going through all the charts I did find some thing interesting, I don't follow this stock so I was a little surprised, considering that all the hype I've heard on it I expected it to be straight UP, like all those udder stupid 1000 P/E social media stocks, or some times called the "Two Kids in a Garage Company":
The incredible stock-picking ability of SEC employees.
The big winner's in my 80 markets this week were mostily the Udder worldly markets, with Egypt leading the way this week, EGPT up 5%, followed by Ireland, EIRL up 4.76%, Chairman Yellin has to be a happy camper as the DBA was up another 2.74% this week, helping to full fill her dream of crushing the average American with inflation. Our sector winner's were OIH up 2.67%, followed by XLY, XLB XLP, our major market winner was the little guys, IWM up 1.78%, and in another "strange" one it appears inwestor's were fleeing to the safety of bonds as they finished next, TLT up 1.69%, the DIA was next followed by the SPY, and then a surprising fourth place for da NasDOGS, QQQ up .87% on the week.
The loser's were mostly the inverse funds, UNG was the big winner as it had a record drop when it appeared warmer weather my be on the horizon, so their rip off schemes kind of went out the window. RSX dropped another 4.79%, not because of the possible invasion but because of the Olympics, precious metals on the list kind of surprised me as I woulda thunk they would go up on International tensions, but I woulda thunk wrong. Another surprise, to me, was XLU down .32%, aren't they supposed to go up when interest rates go lower?? Oh, that's right, I guess we can't go any lower than the FED mandated ZERO PERCENT!
The big loser in the S and P this week was CLF, as Da Boyz took it to any one that brought the snap back rally above $23, down 8.83% on the week, as it literally fell off a "CLIFF".........................
Some notables on the list were the refiner's, as I guess they were getting hurt by the WTI/BRENT or crack spread, which seems a little weird as I'm sure Colorado will approve the purchase of CRACK any day now.
As always, the big winners are presented as a courtesy for those of you that love to BTALTFH's.
I'm presenting the weekly Alkie chart, AA, because, well, I always carry a little "inwestment" in it, and frankly I was caught a little by surprise by the 2.41% drop on Friday, it didn't make the list of weekly winner's even though it finished higher by ONE CENT on the week. I thought with the Russian invasion it would go up on possible replacement pickups for the Ukraine, but then it dawned on me they probably don't have that many Ford or GM trucks there, PLUS, I've heard that aluminum truck bodies don't hold up that well when hit by phosphate bombs.
ANYWAY, I would, NEVER, say it might be finding resistance at $12, but those are some MASSIVE topping tails on that weekly chart, and it, COULD, pull back and test $11 again, and, who knows, it may even try $10..........$9??? Of course, one of Da Boyz on Da Street that holds a massive position in it may decide enough is enough, and come out next week and upgrade it to $100 or some thing like that, that's always possible.
Prepare for "the biggest financial catastrophe since the founding of the Republic"
By Elliott Wave International
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