Saturday, November 15, 2014

WEEKLY UPDATE

YYYEEEEEEEEAAAAAAAAA, I'm so proud of myself, I actually read the ENTIRE "Abstract" of this article,http://arxiv.org/pdf/1410.5787v1.pdf, "The Precautionary Principle (With Application to GMO)". 
I picked up on this article on Twitter because "The Black Swan" guy, Nassim Nicholas Taleb, was bitching because no one had commented on the article yet..................hahahahahahahahahaha! I would have commented but my tongue was numb and my eye balls were swimming around in their sockets, AND THAT WAS AFTER ONLY READING THE ABSTRACT, HAHAHAHAHAHA!
What a brilliant guy, I just wish I could last long enough to read the actual article, so I can comment on it. 



The $NYAD's had a minor little up turn today, so there's no signal, the $NYSI has yet to actually turn down, so we are still on buy. The IWM has had two narrow range weeks in a row, ending in Doji's both weeks, a hanging man last week and a kind of gravestone doji this week, so after two bearish like candles I can only conclude that's it's obviously going to NEW ALL TIME HIGHS!! It stopped Wednesday and Thursday almost exactly on the last swing high from 9/03, it sold off hard yesterday and had another little down day today, BUTT, it's still above the T-Line, the 8EMA, so it's still a hold, but any down day on Monday and that's gone.


The DIA has had two weekly closes outside the upper bollinger, and going back to April of 2012 on that chart two closes outside the upper bollinger has been the END of the rally, it had a third week in November of 2013 but it was an itsy bitsy teeny weenie Doji thingey, so I don't count it much. 


TUR went from third worst last week to the big winner this week in my 76 markets I keep track of, up 5.66% on the week, our best sector was XLK, up 1.89%, which made the Q's our best major market on the week, up 1.59, and the only one on that first page. The SPY and DIA were tied at .44%, with the IWM coming in last at minus .02% on the week.
The Q's ALSO closed outside the upper bollinger, it was the first week, just like the DIA for the MOST part two is about the max, but it did go FOUR weeks in May of 2013, and almost had a nine week stretch starting in February of 2012, so it can continue MUCH longer, it the market gods so desire.


 SLV was up 3.51% and GLD 1.33% on the week, which powered the GDX into 7th place, up 2.04% on the week, with literally ALL of it today, as it was up 6% on the day, meaning GDX was down 4% heading into today. It actually gapped down and looked like it was going after the $16.50 previous lows, but instead took off straight up and put on a huge bullish engulfing candle, with big volume to boot.
I, personally, can't handle it, I have NO IDEA why it reversed like that, other than shorts might have been covering for some reason. I was, HOPING, to take a double bottom shot at that $16.50 level, but I'm certainly not going to chase it. Congratulations to any one who caught it.



UNG was number ONE again this week, only this time on the LOSER's list, down 7%, I guess they read my nasty comments last week and it scared them, hahahahahaha! EWZ was a big loser last week and again this week, down 4.15%, Putin was only down .62% this week. Our worst sector was XLU, down 2.83%, right behind USO, going back to the GDX fiasco I have NO IDEA why XME was DOWN 1.63%, other than it was "only" up 2.63% today.
46 markets were higher this week, only 8 closed on 20 day highs vs 19 last week, 3 were on 20 day lows, RSX, EWY and EWM, 28 closed with golden crosses this week, 20 ma above 50 ma, vs 11 last week. In the NYSE 69 stocks closed with PSAR buy signals vs 49 last week, but 220 closed on sell signals vs 154 last week.


Here's the big winner's in the S and P 500, BHI is rumored as a buy out, the ones I love are AMZN, F, PCLN, and CF, all companies that reported shit earnings but now the streets LOVES them, wad ever, WMT was the same way, hahahahaha, accept it didn't wait to have a gap down and just went straight to Da Moon instead on reduced guidance, again, wad ever.


Here's the loser's for the week, RIG is getting interesting to me, BUTT, I have my typical ANCHORING problem, as I REFUSE to buy it until it gets back to the LAST time I brought it, in the $18.50 "area" back in July-August of 2003, I'd rather sit it out here and possibly miss a move rather than KILL myself if I brought it and it DID go back down to that $18.50 level.
260 S and P stocks were higher on the week, barely more than 50%, 28 closed on 52 WK highs vs 56 last WK, 71 on 20 day highs vs 167 last week, so we "deteriorated" some what this week, although the stocks on a golden cross increased to 340 from 198 last week.

Government Banks on Stocks

By Elliott Wave International
Read the recent history of government bailout efforts, how the ECB's latest scheme is already failing, and how global governments' even more pronounced infatuation with stocks suggests an even more dramatic decline ahead. Read more.

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