Sunday, November 23, 2014


The, ALWAYS, insightful Jeremy Grantham GMO letter, even more insightful this quarter:

Horrible day for the little guys Friday, and for the week as per below, they opened up right on the highs of last week after Super Marioo said that REALLY, HONEST, I'm going to DO some "THING" next month, and collapsed after that for the rest of the day, it looks like it's trying to triple top the September highs, the best I can say is they didn't close on the lows of the day, but they did fill the gap. Peeps that have been worried about the lack of leadership from the "risky" assets, IE the little guys, probably don't feel any better today.

The $NYAD's pulled the infamous whip saw, as they actually triggered a SELL signal Thursday, but had a "SUPER" turn around Friday. The problem is, of course, that they are not LEADING the $NYA higher, they are both in the same position, just under the September highs, I want to see them blast through those highs, preferably ahead of the $NYA.

I put the LOSER"S list of my 76 markets first for the past week, as I find it more interesting than the winner's. IWM shows up on it, it was actually up on the week right up until the close, if they had just held the open they would have been up almost 1% for the week. The weakness in Asia is pretty amazing when you consider that EWA, EWH, FXI, and EWJ were all up big today off of the China move to go back to run away inflation that they were supposedly trying to get under control, wad ever.

What happened, did Rousseff decide to abdicate already?? EWZ up 11.89% on the week, our best sector was home builders, XHB up over 3% on the week, then XLB, SMH, XLU, XLV, XLI, our best major was SPY at 1.19%, that is, if you don't count the EQUAL WEIGHT S and P (which I DO count), RSP up 1.52%, which is typical for it, it outperforms on the way up, AND, on the way DOWN, but of course, DOWN is no longer allowed in the FED vocabulary! DIA was next at .77%, with the stinking NasDOGS surprinsly bringing up the rear, QQQ up a measly .63% for the week, GDX was up 4.5% on the week with XLE up 2.66%, so I guess China's policy change is working already, hahahahaha!
We ended the week with 39 markets at 20 day highs vs only 8 last week, 5 were at 20 day lows vs 3 last week, and 37 were on a golden cross, the 20 sma above the 50 sma, vs 28 last week. The NYSE ended the week with 445 stocks on PSAR buy signals vs only 69 last week, and 52 on sell signals vs 220 last week.

Goldman Sachs led the S and P 500 higher this week, up 638.85% on the week, which is actually about a half of a percent LESS than what they were up TODAY, hahahahaha, I have NO IDEA what that's about, nor do I care, but I can say this, it may not last long as Elizabeth Warren was RIPPING Wall Street and the FED a new one after the markets closed Friday, mostly William Dudley about some problems at the NY FED, and can you believe this head line from Bloomberg:
Is the Fed Cozying Up to Wall Street? at Bloomberg

I mean, EVERY ONE, knows the stinking FED is OWNED by Wall Street, hell, they've said so theyselves, I mean, WTF?????????????????

And here's the big loser's for the week, GME was the BIG, aaaaaaahhhhhhhh, WIENER, as they kind of disappointed "inwestor's" with their guidance, and both they and the GAP warned of a tough Holiday season coming, but, OBVIOUSLY, no body gives a shit as long as Monti is "SAYING" he's going to do "SOME THING"!! REALLY! HONEST!! I woulda thunk that Da Street would cringe at those promises, as his "policies" are why Europe is the mess it is today, but HEY, since the markets are going crazy, we might as well define that word and keep repeating the same failed policies over and over again, woooo hooooo!
The S and P ended with 106 52 WK new highs vs 28 last week, ZERO new lows vs 4 last week, 222 at new 20 day highs vs 71, only 4 new 20 day lows vs only 6 last week, and 404 on a golden cross vs 340 last week, hhhhmmmmm, only 96 S and P 500 stocks are in a death cross.

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