Sunday, August 17, 2014

WEEKLY WRAP UP

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A, "GREAT", interview with noted short seller Jim Chanos, for those of you that like to get right to the chase his break down of why the markets will eventually collapse again starts at about the 29:40 mark, but the whole interview is really good:





The main men, the $NYAD's, got a buy signal this week, HOWEVER, they remain on a big divergence with the market high made in mid June.


The main timer tool, $NYSI, generated a buy signal today, HOWEVER, it JUST barely gave a signal, and you might want to wait for some confirmation before going ALL IN!!!!! Ya Know, like wait until the markets go up 20% and Bubblevision issues the ALL CLEAR signal.............................. I'm just kidding Ya there, in case you didn't know..........

Here's a couple of strange little items I observed this week:


The $TRIN closed over 1 every day this week, a reading over ONE indicates more issues being SOLD than bought, this includes the HUGE up day on Monday, and the HUGE gap ups on Wednesday and Thursday, in fact Wednesday had the highest reading of any of them accept for today, over 1.80, and I swear, SWEAR, that INTRADAY I saw the $TRIN move HIGHER, as the markets moved HIGHER, just REALLY strange stuff if you ask me, but what the hell do I know. 


It was hard to tell who was panicking more, the people buying the stock markets or the people FLEEING to the SAFETY of BONDS, as the TLT had a dog fight with the SPY to see who could gap up and gain more the last three days of the week! At least the SPY closed in the middle of the bollinger bands, AKA the 20MA, whereas the damn TLT closed ABOVE the bollingers the last two days, including a HUGE gap up this morning with the HUGE gap up in the markets, sigh, just really strange stuff if you ask me. 
Dan Nathan has an options trade idea on the TLT, he's actually going to short it:


Here's another strange one, at least to ME it is, other than the XIV the defensive XLU was the BIG winner in my 73 markets this week, up 4.48%, easily out distancing the big winner in our major markets, the NasDOGS, QQQ, up 2.63% on the week. You had to go to the second page for our next major market, that of course being TLT, up 1.90% on the week, then SPY at 1.28%, IWM at 1% on the nut, and the Big Dogs bringing up the rear at .61% on the week.


The down markets were few and far between, other than the inverse funds the loser's were TUR, UNG, USO, OIH and DBC, as I guess we don't need any energy for the World Wide Economic boom, and precious was not so precious this week with GLD and SLV down, GDX just barely finished higher at .15%.


The number of markets with a death cross, 20 SMA below 50 SMA, increased again this week to 40, so with more than half of the 73 markets on a death cross and only one of them, the QID, being the inverse funds, I guess that means the WORLD is on a death cross until further notice.


The top winner's in the S and P 500 were all newsy stuff, KO, which can't generate any returns with their own business, so they acted like Carl Ichan and are making some stock trades in MNST, KMI did some financial engineering, AMAT actually had some nice YoY earnings, although they only beat the estimates by a penny and missed on revenue, the DCF model HATES it, hahahahahaha, http://bit.ly/Xo0Aeb , with a fair value of $11.95, and that's based on 10% earnings growth over the last 10 years, and when you look on the page AMAT actually has NO EPS growth over the last 10 years.


And here's the list of loser's in the S and P 500, NONE of which I will be a slimy bottom fisher on right now.

Don't Get Ruined by These 10 Popular Investment Myths (Part I)
Interest rates, oil prices, earnings, GDP, wars, terrorist attacks, inflation, monetary policy, etc. -- NONE have a reliable effect on the stock market
By Elliott Wave International
You may remember that during the 2008-2009 financial crisis, many called into question traditional economic models. Why the traditional financial models fail? And more importantly, will they warn us of a new approaching doomsday, should there be one? That's a crucial question to your financial well-being. This series gives you a well-researched answer. Here is Part I; come back soon for Part II. Read more.

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