So, given that I called three market bottoms (in 1982, 1987 and 2003) precisely right seventeen times, I will give you my take, which has been well summarized by a reader:

Long term - bullish (14000)
Intermediate term - bearish (9200)
Short term - leaning bearish, but not surprised if markets continue up till year end.

The latter would be confirmed by a S&P 500 index close above say 1210, which is close to its present 1198.

It seems a shame that with interest rates rising, price inflation rising, and economic output trends slowing, there are so many fans ready to do the Wave for the benefit of the year-end bonuses of so few (Wall Street). I say the common sense thing to do is just to let the capital markets seek a proper matching of PE multiples and interest rates needed to rebalance market prices with the real risks that exist today.

Believe me; multiples do not expand and interest rates do not fall in the face of rising inflation (for very long). I have shown you the Haver Analytics charts on inflation. So when the market cheerleaders are telling you there is nothing to stop you from doing the Wave, I call that a shell game.

I say caveat emptor ought to apply to anybody meeting up with cheerleaders, unless of course you want to be Wall Street's Best Friend.

---

Portfolio/Trades: Mixed performance after a good start

U.S. Sector ETFs: Same recommendations (i.e., 80-pct cash, with the balance as follows:)
10: Over-weighted: lower PE's but growing value (XLE +4.9 pct W/W)
15: Over-weighted: lower raw material costs (XLB +3.6 pct W/W)
20: Minimally over-weighted: USD -1 pct W/W (XLI +1.2 pct W/W)
25: Market-weighted: still no money for Fords or Maytags
30: Market-weighted: defensive stocks fall less in a bear phase
35: Market-weighted: also defensive, but with some promise
40: Under-weighted: trouble ahead with yield spread, rising yields
45: Under-weighted: weak unit growth (SMH "4.1 pct W/W)
50: Under-weighted: some negatives going away (IYZ +2.5 pct)
55: Under-weighted: debt service worries the regulated segment

Bonds: Very weak; real estate market topping out

Commodities: Pullback on Friday but still high, which means high raw material costs

Oil & Gas: Prices will likely stay strong with winter's approach

Gold: Moved to middle of $460 - $480 trading range; needs to close above $480.50 to move to higher trading range above $500

Goldminers: Still buying dips, and next week could be one to buy the dips for this volatile group

Forex: USD was weak on the week but strong Friday

International Equities: Most international markets were up sharply by week's end; indicators are turning bullish

U.S. Equities : Extreme volatility, and some technical indicators, has turned many traders bullish.

---

Before we look into the details this week, I'd like to ask how many of you have Dupont, Verizon, Merck, American Express or Caterpillar in your portfolios? These five stocks were up this week an average of +6.15 pct. If their performance had been removed from the Dow 30 index, you would have seen gains consistent with the Nasdaq (+0.37 pct) and Russell Small Cap (+0.41 pct) W/W.

But if the Dow 30 index was up just 41 points W/W, would the Bulls be so smug as with their +173 point move on Friday.

I don't want to shock you here if you have fallen off the Cara Bearcub Wagon, but go through the Hourly data price charts for the ten ETF's for the last several weeks. You are going to see just five short bursts of buying by Wall Street to suck you in. You'll see: (i) the afternoon of Wed Oct 19 (ii) the open on Fri Oct 21 (iii) the open on Mon Oct 24 (iv) the late in the day rally on Tues Oct 25, and (v) and Fri Oct 28 at the open and again into the close.

Moreover, for the five big Dow winners this week, look at my loser's lists for the three prior weeks: VZ, MRK, AXP and CAT are on two of three times in each case. So when you see VZ up +7.4 pct this week (govt approval of the MCI merger), think back to losses of "2.3 pct and "6.2 pct in two of past three weeks. And for MRK up +5.2 pct this week, look back at losses of "3.6 pct and "6.3 pct. How about AXP up +5.1 pct this week, but down "3.8 and "13.3 pct two and three weeks ago. Finally the +4.4 pct move in CAT this week, followed two weeks of "10.6 and "3.3 pct. And for Dupont, of course the price is going to look better if its oil-based raw material costs are dropping, but the company needs a U.S. economy to grow faster than the +2.0 pct growth rate for GDP in 2006 that many are projecting.

So, let's take this week with a grain of salt. Don't get wrapped up in a short-covering exercise by nimble traders who know the power of Wall Street seeking year-end bonuses, using their pimp cheerleaders to whip the crowd into a Wave.

---

ETF Portfolio:

No moves this week until I can figure out what's going on. This is supposed to be a hedged portfolio, and the one good thing I can say is that I have three picks up and three down. The only issue really is that I don't know whether the market is coming or going at the moment.

I think I have it right: You see, two of my shorts are winners, and two of my longs are losers, which is what I would expect in a market that I believe is falling.

The problem I have is that the gold stocks are down, and I'm supposed to be confident telling you they are going up. In fact I've been that confident that ADVFN asked me to be their resident metals expert" starting this coming week on their new Gold Page.

And being a former investment banker, I'm supposed to know when to short XLF. Not! But that didn't stop Trader magazine asking me to become a weekly columnist for their electronic journal called TraderDaily.com, which I consented to do starting next week. And if we have a major rally here, they might be dismissing me at year-end. :-)

Short:
XLF (29.13) 30.31 -1.18
IYZ (23.50) 22.98 +0.52
EWH (13.03) 12.49 +0.54

Long:
TSX: XGD (53.03) 51.87 -1.16
XLP (22.75) 23.08 +0.33
IYH (60.54) 59.95 -0.59

---

Sector ETF:

Here are the ETF charts I follow for the ten sectors of the U.S. equity market:

10 (energy: XLE)

15 (basic materials: XLB)

20 (industrial: XLI)

25 (consumer discretionary: XLY)

30 (consumer staples: XLP)

35 (healthcare: IYH)

40 (financial: XLF)

45 (technology, semiconductor: SMH)

50 (telecom: IYZ)

55 (utilities: XLU)

Here is the weekly performance of my favorite ten Sector Index Funds. The table shows the list sorted by price performance Week over Week (W/W), i.e. 1W%N, but please note that the Net and %Net columns show the Friday net change and pct change from Thursday. The other columns are not sorted.

Symbol	Close	Net	%Net	1W %Net	2W %Net	4W %Net	YTD %Net	3M %Net	6M %Net	Yr %Net
XLE	48.27	1.28	2.72%	4.89%	-0.12%	-10.06%	37.99%	0.35%	20.58%	39.27%
XLB	27.47	0.42	1.55%	3.58%	4.37%	-0.11%	-6.66%	-4.45%	0.51%	2.12%
XLF	30.31	0.51	1.71%	3.24%	4.27%	2.68%	-0.36%	0.36%	8.21%	6.09%
IYZ	22.98	0.25	1.10%	2.50%	2.96%	-2.87%	-4.84%	-4.96%	0.48%	0.66%
XLU	31.05	0.61	2.00%	2.31%	0.62%	-7.59%	12.79%	-3.75%	4.79%	18.83%
XLI	29.65	0.47	1.61%	1.23%	0.07%	-1.69%	-3.67%	-3.48%	2.31%	3.82%
XLP	23.08	0.38	1.67%	0.92%	1.45%	-0.86%	0.00%	-2.12%	1.58%	5.82%
XLY	31.31	0.54	1.75%	0.16%	-0.29%	-3.63%	-10.70%	-10.59%	1.07%	-3.66%
IYH	59.95	0.78	1.32%	0.08%	-1.64%	-3.59%	2.90%	-4.99%	0.50%	9.90%
SMH	33.31	-0.07	-0.21%	-4.09%	-3.34%	-9.83%	1.99%	-10.86%	8.22%	2.81%

Last week the ETF board was mixed up". This week there were nine ETF's up, and one down (SMH).

---

Sector 10 (energy: XLE, IYE, VDE, OIH, PBW and IXC)

Here's the XLE Weekly, Daily and Hourly data charts:

XLE Weekly data:

XLE Daily data:

XLE Hourly data:

XLE was up +4.89 pct this week after being down "4.78 pct a week ago. A week ago I wrote that there is a level of support at about 48". Then XLE dropped down to 46.02. But this week, XLE closed at 48.27.

NY crude is now at 61.22. The StockCharts chart shows a cycle low support at 59.15. With winter approaching, this price might hold. It could also drop to the mid-50's, which would lead to another round of price cuts for XLE.

I think the latter (say 55) is more likely inside two months, than say Oil moving higher here to test former cycle highs. Most likely is that XLE will stabilize at these levels. Traders like all the cash flow, the dividend raises, and the share buy-backs.

Therefore, I think it would take a Steve Forbes' scenario (35 oil) to drop XLE into a primary bear phase.

---

Sector 15 (basic materials: IYM, XLB, IGE and VAW)

Here's the XLB Weekly, Daily and Hourly data charts:

XLB Weekly data:

XLB Daily data:

XLB Hourly data:

A few readers, at least, must have liked my take on XLB and DD last week because DD was this week's big winner in the Dow 30 index, up +8.7 pct W/W. The XLB was up +3.58 pct W/W to 27.47, which was next to XLE the best of my ten ETF's for weekly performance.

---

Sector 20 (industrial: IYJ, XLI, VIS, and IYT)

Here's the XLI Weekly, Daily and Hourly data charts:

XLI Weekly data:

XLI Daily data:

XLI Hourly data:

XLI gained +1.23 pct W/W to 29.65. A weaker dollar (-0.76 pct W/W) helped some of these companies, like CAT (up +4.4 pct W/W). But mostly the gains here were, I believe, short covering. The prior two weeks for the CAT were worse than for my own.

Incidentally I visited the animal shelter on Friday afternoon, looking for someone to adopt it. I don't have the time/patience to care for my daughter's cat now that she's moved on (to a place where animals are prohibited). This wonderful cat, btw, is NOT going into any animal shelter with strays.

Last week I wrote, Sure BA ($66.02) has strong commercial aircraft sales, but all the production slots are already taken and the cash flows estimated by Wall Street. Now what happens if the military spending cuts back. BA ($66.02) had a tough week, down "2.2 pct W/W (albeit "1.9 pct was Friday, which makes me think the Gnomes in New England and Westchester County have decided the broad market needs to drop another level)."

BA was down again this week, -0.58 pct.

Like XLE and XLB, I want to see some indication of real economic growth (and not some trumped up data by a lame-duck Administration in trouble at the polls) before buying into XLI.

---

Sector 25 (consumer discretionary: XLY, IYC and VCR)

Here's the XLY Weekly, Daily and Hourly data charts:

XLY Weekly data:

XLY Daily data:

XLY Hourly data:

XLY was practically flat this week, up +0.16 pct W/W to 31.31. It's sitting right on support here, and could take a hit if there is another week or two of GM (down this week "3.54 pct), WMT (down "0.48 pct) or MCD (down "0.58 pct).

---

Sector 30 (consumer staples: XLP, VDC, RTH and IYK)

Here's the XLP Weekly, Daily and Hourly data charts:

XLP Weekly data:

XLP Daily data:

XLP Hourly data:

XLP was up +0.92 pct this week to 23.08.

XLP has been up and down more than most toilet seats in the past couple weeks. But I see that the RSI is getting a little high of the Hourly (and soon the Daily) data charts. So, next week could see the seat or the sun or whatever go down on XLP.

And I'm long! ???

---

Sector 35 (healthcare: IYH, XLV, VHT, IXJ, and IBB)

Here's the IYH Weekly, Daily and Hourly data charts:

IYH Weekly data:

IYH Daily data:

IYH Hourly data:

IYH was up a nickel this week to 59.95. All because of MRK, which was up +5.2 pct W/W.

But you know, even though I'm long IYH, I don't care for MRK. For the past four weeks, it's been down, up, down, up. The coin flippers would say next week is going to be down.

But the RSI looks like my long position will improve.

---

Sector 40 (financial: IYG, IYF, XLF, VFH, IXG, VNQ, RWR, IYR, and ICF)

Here's the XLF Weekly, Daily and Hourly data charts:

XLF Weekly data:

XLF Daily data:

XLF Hourly data:

No comment. No comment. No comment.

Last week I wrote: XLF really has me stumped. For a month, XLF has outperformed the rest except for XLP. And for two weeks, XLP is the clear winner. For reasons expressed elsewhere today, I think I was a week early in shorting XLF."

This week XLF was up +3.24 pct to 30.31. So, now I think I was two weeks early in shorting XLF. :-(

I never saw so many people on Wall Street work so hard for their year-end bonuses (and accomplish so little for the client, as I like to say).

Soon. Soon. XLF is now in that 30.25 " 30.75 zone that in the past two years has been a killer. Starting next quarter, the year ago base numbers will be hard for the Financials to beat. That is unless of course you believe that Kudlow, Cramer, Bush & Co can kick-start an economy they've been telling you all along has been in the greatest shape since George I was on the throne (which depending on how you take that could be anywhere from 14 years to 14 hours ago).

---

Sector 45 (technology: IGM, IGV, IGW, XLK, VGT, IYW, IGN, IXN, MTK and SMH)

Here's the SMH Weekly, Daily and Hourly data charts:

SMH Weekly data:

SMH Daily data:

SMH Hourly data:

SMH was down this week "4.09 pct to 33.31. For months I have been using the word unimpressive" to describe the chip stocks.

If INTC can't get out of the gate, it's not much of a race. And how goes Intel, so goes DELL. PC's cannot be built without chips, and chips can't be manufactured without orders. And orders don't come in without a robust economy that Kudlow, the Administration and the Bulls rant on about incessantly, but isn't there.

Well it's there ok, but two cylinder engines are better suited for Toro lawnmowers than GM Cadillac's.

And speaking of power, right in front of me as I hit the keyboard, oh maybe 350 yards out into Lake Ontario a jet boat (probably 1500-2000 hp) is roaring by at maybe 80 mph. The noise is incredible. I figure that's got to be " at 2 or 3 gallons to the mile " about a $100 mile fly-by. Owner must have some serious coin to be racing down Lake Ontario on October 29.

If only the economy had as much juice, and less hot air.

But SMH today kind of reminds me of Mar-Apr 2004 -- a well-hyped blip on the radar screen that was headed south longer-term.

I just don't have a good feel for how much further south SMH can go. This is part of my conundrum; the economy is growing nicely, but if the chip stocks continue to worsen, what does that portend for the economy? Recession?

And speaking of things digital, the self-photo, which my associate James cleaned up, has been uploaded to the About Us" section, replacing that other one that was breaking too many monitors and needed replacing. I had a professional take the other one a couple days after my parent's passing, which showed that I was pretty uptight. I figured out my camera and took this one myself.

---

Sector 50 (telecom: IYZ, VOX and IXP)

Here's the IYZ Weekly, Daily and Hourly data charts:

IYZ Weekly data:

IYZ Daily data:

IYZ Hourly data:

Last week I wrote that: Yes I did short IYZ and yes IYZ was up +0.45 pct this week... I'm going to write about IYZ this week in the blog because I may have to close my short. I'm nervous. All the bad news on SBC and VZ is out. I need interest rates/bond yields to go north or else my short could go south... I still think they are going to fall in price, though."

Mistake. I happen to be a mechanic; I ought never listen to customers tell me how to fix cars. This week Verizon was up +7.4 pct, and my short got smashed with IYZ, which was up +2.5 pct W/W.

I'm not happy because I saw this coming.

Still, with cable fighting telco, and long distance going to $1 per hour of chat, NYC to Shanghai, or Toronto to Moscow, and satellite radio/TV growing like crazy, I just wonder how long the telco's can hang their hat on wireless. There's not even a wire to hold them up for Pete's sake.

---

Sector 55 (utilities: IDU, XLU, and VPU)

Here's the XLU Weekly, Daily and Hourly data charts:

XLU Weekly data:

XLU Daily data:

XLU Hourly data:

XLU had been having a bad October. So I understand +2.31 pct W/W (to 31.05) spells relief to the Bulls. I don't think they are going to be relieved for long, however.

---

Bonds:

I told you THE BIG PLAY IS COMING. The TLT chart shows that bonds were killed this week. TLT was down "2.0 pct to 89.61. Does the Bond King still have a job?

Bill Gross's sidekick at PIMCO was being interviewed by Liz Claman on CNBC and tried to wriggle off the hook until she reminded him that after the earlier rate increase he told the audience that That's it, the FED has stopped raising!"

In fact when he tried again to be cute, she just said: But you were wrong!" Good on you Liz.

When Bill Cara gets it wrong, I accept it, and feel terrible. But PIMCO advertises themselves as the world's biggest bond manager. In fact their trademark is The Authority on Bonds TM"

· 731 Total Employees; 272 Investment Professionals.
· $513.6 billion in assets under management as of September 30, 2005.
· America's largest bond fund, PIMCO Total Return Fund, with $89.2 billion as of September 30, 2005.

Jeez, I wonder what it's going to be at October 31?

But, the point is that if you manage $500 billion in bonds and you make such a ridiculous statement as they made on Investment TV, and obviously be so wrong, then a simple I'm sorry" doesn't cut it. What happened to the concept of reputational capital? Is that now a joke too?

PIMCO, if you were headquartered in Tokyo and not laid-back Newport Beach California, the Japanese would have other more appropriate ideas of how you handle such a disgraceful performance.

Interest rates and bond yields.

Weekly data charts:

Daily data charts:

Hourly data charts:

U.S. Treasury Bonds
Maturity	Yield	Yesterday	Last Week	Last Month
3 Month	3.73	3.70	3.67	3.27
6 Month	4.02	3.99	3.96	3.68
2 Year	4.37	4.33	4.19	4.06
3 Year	4.40	4.37	4.22	4.07
5 Year	4.44	4.41	4.24	4.10
10 Year	4.56	4.55	4.38	4.25
30 Year	4.77	4.76	4.60	4.50
Municipal Bonds
Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	2.81	2.79	2.77	2.63
2yr AAA	2.78	2.80	2.74	2.64
2yr A	2.76	2.78	2.77	2.69
5yr AAA	3.19	3.17	3.12	2.96
5yr AA	3.21	3.20	3.18	2.96
5yr A	3.29	3.25	3.17	3.05
10yr AAA	3.71	3.71	3.62	3.50
10yr AA	3.70	3.69	3.60	3.47
10yr A	3.86	3.85	3.75	3.67
20yr AAA	4.17	4.16	4.07	3.99
20yr AA	4.13	4.13	4.04	4.00
20yr A	4.24	4.23	4.15	4.09
Corporate Bonds
Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	4.49	4.42	4.29	4.10
2yr A	4.53	4.51	4.38	4.20
5yr AAA	4.62	4.60	4.46	4.26
5yr AA	4.74	4.72	4.53	4.35
5yr A	4.79	4.76	4.57	4.41
10yr AAA	5.13	5.11	4.96	4.68
10yr AA	5.10	5.10	4.89	4.75
10yr A	5.18	5.13	4.95	4.80
20yr AAA	5.44	5.42	5.27	5.09
20yr AA	5.77	5.74	5.62	5.45
20yr A	5.86	5.86	5.69	5.44

US Bond Funds -- Monthly Data Charts

SHY Monthly data series chart:

IEF Monthly data series chart:

TLT Monthly data series chart:

AGG Monthly data series chart:

LQD Monthly data series chart:

TIP Monthly data series chart:

US Bond Funds -- Weekly Data Charts

SHY Weekly data series chart:

IEF Weekly data series chart:

TLT Weekly data series chart:

AGG Weekly data series chart:

LQD Weekly data series chart:

TIP Weekly data series chart:

US Bond Funds -- Daily Data Charts

SHY Daily data series chart:

IEF Daily data series chart:

TLT Daily data series chart:

AGG Daily data series chart:

LQD Daily data series chart:

TIP Daily data series chart:

US Bond Funds -- Hourly Data Charts

SHY Hourly data series chart:

IEF Hourly data series chart:

TLT Hourly data series chart:

AGG Hourly data series chart:

LQD Hourly data series chart:

TIP Hourly data series chart:

Consumer Finance -USA -- Weekly Data Charts

Consumer Finance -USA -- Daily Data Charts

Consumer Finance -USA -- Hourly Data Charts

---

Commodities:

$CRB was basically flat on the week after being down "0.40 pct on Friday, to close at 322.13. The cycle low of 315.08 represents support in a rising trend.

Remember that commodities represent raw material costs to most companies, and these are at record high levels presently (in USD).

Weekly CRB Commodities Index:

Daily CRB Commodities Index:

Weekly Crude Oil:

Daily Crude Oil:

Crude Oil contracts (NY Crude EOD chart at StockCharts) dropped the day traders off the wagon a week or two ago. This week the index rose +1.0 pct to 61.22.

A week ago, at 60.63, I wrote that $WTIC was a little weaker than I thought it might be. But this is a funny market that the speculators love to trade. Now with hurricane season out of the way (probably), what else can crank this market before the winter cold weather arrives? A speech from Venezuela's Chavez maybe? Perhaps more problems in the Middle East or Africa or Russia?

Can't be a problem with Canada except that maybe Alberta's long-running Premier Ralph Klein is worried that the Fed's have eyes on his provinces riches.

I could never understand how a nation could send its youth to war to protect its natural resources (as Canada did in WWII) only to have 10 pct of the population figure they belong to them (as Alberta does). Doesn't make sense to me that Eastern Canada, which suffered at least 75 pct of the nation's war dead, would be entitled to zero pct of those resources.

But you see that's why I hate politics, and why I work for social equity.

---

Gold:

Gold is now positioned near the middle of a trading range, between cycle lows and highs of 460.03 and 480.42 respectively. As per StockCharts, the continuous contract closed at 473.50, up +1.41 pct W/W.

I am still nervous as to short-term direction. I liked the fact that the USD had some weakness this week, and that the goldminers were up strongly on Friday even though the USD was also strong that day.

I'd like to see gold trade above 480 to set a new base for stepping into the 500's. But liking and hoping could be different from what happens.

On Friday the USD was up to resistance and the Euro was down to support levels. I think that the rising interest rates/yields are attracting much capital to the U.S., which is holding the Dollar up. Rising rates are like a USD crutch, really, because rocketing rates help but cannot continue without severe damage being done to the economy.

Something will break open here. Soon. Soon.

Weekly Gold EOD Continuous Contract Index:

Daily Gold EOD Continuous Contract Index:

This interactive chart shows the recent trading for the Gold Bullion index.

Weekly U.S. Goldminers Index:

Daily U.S. Goldminers Index:

The $XAU U.S. goldminers index was up +1.78 pct W/W to 106.80, but Friday made up +1.2 pct.

The Toronto Exchange-listed goldminer iUnits S&P/TSX Capped Gold Index ETF trades under the ticker symbol TSE:XGD. XGD was up this week +1.73 pct W/W to 51.87. :-)

I made the call the prior Friday at noon, en minutes before the goldminers lit up the board. So one good deed deserves another I suppose. Next week ADVFN has asked me to become their expert metals trader on the Gold Page. Ought to be fun.

Promise not to tell them that less than two weeks ago, this dummy paid 53.03 for the XGD before watching it tumble in three days to below 49.

There are now people who trade off me. They say, this guy CAN'T BE THAT BAD: down "7.5 pct in three days! And he's an expert? So they jumped in at 49, and when I saw enough of them do it, I screamed out: Buy gold/goldminers now!"

It helps when you get several kicks at the can. Cramer's been doing it for years. It's an old Wall Street trick.

And then you get to say with a straight face: Maria, it's just the business."

Here are the TSX Goldshares (XGD) index Weekly, Daily and Hourly data charts:

XGD Weekly data:

XGD Daily data:

XGD Hourly data:

For an interactive look, here are links to the Hourly data charts of three groups of proven goldminer stocks. You can click on the tabs for the Monthly, Weekly and Daily data charts.

List #1

List #2

List #3

---

Forex:

The trade-weighted USD index closed at 89.58, down "0.76 pct W/W. And the first four days were terrible for Dollar Bulls because they were partly saved on Friday when interest rates soared, bringing USD home to roost (goodness knows why?).

Yes the USD was up Friday by +0.53 pct. But how long can that last? Are there not better uses in China and Japan?

Anyway, last week I wrote: I think the earlier top at 90.77 is the ceiling this time around as well. I am thinking there will be a Double Top." Except for Friday, I was feeling pretty good with that call.

But Monday is always such a pleasure for forex markets. You get the Gnomes of New York and New England sending their Hill & Knowlton scripts over to Singapore to lead or mislead as the case may be.

Weekly U.S. Dollar Index:

Daily U.S. U.S. Dollar Index:

The Euro (priced in USD) was down "1.26 pct W/W to 119.42.

Last week I wrote: I think the earlier bottom at 118.87 is the floor this time around too. I am thinking there will be a Double Bottom.... I sure hope I'm right. But with falling oil prices, I am confused. And without a falling USD, my gold forecast will likely not work out for a while."

So this week, $XEU (priced in USD) was up +1.00 pct W/W from 119.42 to 120.62. Thank you!

And that was despite a move down "0.56 pct on Friday when USD were being sent home to boost the Dow 30 and S&P 100 " just to give my readers some reason to question my wisdom this weekend.

The games never end. I just have to stay in til the end. Is there ever an end?

I was going to say, maybe, when they take your shoes off, and prepare you for your next life... but I seldom wear shoes anyway. So I guess the game ends when I lose that sparkle in my eye.

That might just happen some day: I just received my third e-mail alert from MarketWatch telling me: NewsWatch: With turnaround in place, Schwab faces next act"

I received this exact same mail at 5:00pm, and again at 12:00pm, and again at 9:00am (to be precise). I gather Dow Jones & Company don't want me to miss the turnaround" in one of their prime sponsors/advertisers, Chuckie Cheese " no Charles Schwab.

Do you empathize with those of us who have some eyesight and intelligence to get their message the first time?

Maybe the computers at Dow Jones & Co, and their new tool MarketWatch, want to make sure I'm not working too hard at the keyboard this brilliantly sunny Saturday, I got it. I got it.

That's the problem. I really do get it. And now some of my readers are catching on too.

Weekly Euro Dollar Index, priced in USD:

Daily Euro Dollar Index, priced in USD:

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International Equities:

This week the traders in NYC handed a few of us our heads on a platter with the country ETF's. What happened to those cracks?

Japanese equity market ETF: EWJ

This week, EWJ was up +2.66 pct to 11.96.

I think it is a bump in the road.

Here is the Japanese (EWJ) equity market ETF Weekly, Daily and Hourly data charts:

EWJ Weekly data:

EWJ Daily data:

EWJ Hourly data:

U.K. equity market ETF: EWU

The U.K. ETF (EWU) was up this week +2.52 pct W/W to 18.29.

As I say, another bump in my short road.

Here is the United Kingdom (EWU) equity market ETF Weekly, Daily and Hourly data charts:

EWU Weekly data:

EWU Daily data:

EWU Hourly data:

Canadian equity market ETF: EWC

The Canadian EWC closed the week at 19.81, which was up +1.38 pct W/W.

Once again, another bump in what is a short road. This week I did take note that Larry Berman, the competent technical analyst for CIBC World Markets, did make the call from his Toronto office: Bear Market!

And he wasn't just talking Canada. You might see his video taped interview on ROBTV video replay. Go to www.ROBTV.com.

Here is the Canadian (EWC) equity market ETF Weekly, Daily and Hourly data charts:

EWC Weekly data:

EWC Daily data:

EWC Hourly data:

(Japan, Taiwan, Hong Kong, Singapore)

(U.K., Germany, France, Italy)

(Canada, Mexico, Brazil, Australia).

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U.S. Equities:

Well, GE never hit the skids this week. It was up +1.0 pct. Worse still, GE was only the 22nd best performer in the Dow 30. So, if you can count, there were eight worse ones. Ouch.

Actually, what I did say to readers is that the market is in a dogfight (remember who is Wall Street's Best Friend: dog or man). Bulls took a considerable piece out of the bears this week.

I may be wrong at times, but like a broken clock, I'm right on the mark twice a day.

I'm negative because (for many reasons but this one will suffice) on a very strong market week, the biggest companies in America were getting hammered. GM down "3.5 pct, IBM down "2.3 pct, McDonald's down "0.6 pct, Boeing down "0.6 pct and Wal-Mart down "0.5 pct W/W.

That happens to be (if you're counting) 3,283,465 workers, so not everything is going right in this economy. And when you throw in the unemployed and the incarcerated, you're starting to ring up some pretty big numbers.

Oh I get so easily sidetracked the longer I sit at this keyboard. So I better close it down for the day. Besides I have dinner and a hockey game now.

I'm Canadian eh!

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Here is the Monthly data chart of the Nasdaq Composite, S&P 500, Dow30, and Russell 2000 (small cap) indexes.

Here is the Weekly data chart of the Nasdaq Composite, S&P 500, Dow30, and Russell 2000 (small cap) indexes.

Here is the Daily data chart of the Nasdaq Composite, S&P 500, Dow30, and Russell 2000 (small cap) indexes.

Here is the Hourly data chart of the Nasdaq Composite, S&P 500, Dow30, and Russell 2000 (small cap) indexes.

The following table shows the weekly price performance of the Dow 30 stocks, which I sorted by 1-week price change.

Symbol	Close	Net	%Net	1W %Net	2W %Net	4W %Net	YTD %Net	3M %Net	6M %Net	Yr %Net
DD	42.00	0.63	1.52%	8.70%	10.53%	7.22%	-14.50%	0.17%	-8.62%	-1.87%
VZ	31.70	0.94	3.06%	7.38%	6.02%	-3.03%	-21.71%	-8.54%	-9.58%	-19.50%
MRK	27.54	0.62	2.30%	5.19%	1.40%	1.21%	-11.90%	-11.98%	-18.50%	-12.77%
AXP	49.54	0.64	1.31%	5.07%	3.32%	-13.75%	-11.39%	-10.69%	-4.18%	-6.09%
CAT	51.07	1.17	2.34%	4.39%	-6.70%	-13.07%	7.45%	-6.21%	17.81%	28.45%
SBC	23.89	0.19	0.80%	3.87%	7.61%	-0.33%	-6.64%	-3.40%	1.57%	-5.76%
JPM	36.44	0.41	1.14%	3.73%	6.92%	7.40%	-6.92%	2.76%	4.05%	-5.30%
DIS	23.82	0.40	1.71%	3.66%	1.84%	-1.28%	-14.47%	-8.21%	-8.03%	-5.18%
C	45.90	0.49	1.08%	3.59%	1.91%	0.83%	-4.91%	4.65%	-0.63%	3.71%
MSFT	25.53	0.68	2.74%	3.03%	3.49%	-0.78%	-4.53%	-0.85%	4.37%	5.41%
MO	75.11	1.71	2.33%	2.93%	6.30%	1.90%	23.88%	11.92%	16.50%	54.26%
AA	24.02	0.15	0.63%	2.87%	4.57%	-1.64%	-22.49%	-15.93%	-15.93%	-25.89%
HD	40.52	1.13	2.87%	2.19%	5.47%	6.24%	-5.99%	-7.64%	15.47%	-1.55%
AIG	64.30	1.17	1.85%	2.19%	2.98%	3.78%	-2.62%	5.88%	25.71%	5.05%
KO	42.83	0.68	1.61%	2.15%	1.81%	-0.83%	3.11%	-3.51%	0.33%	5.78%
PG	55.92	0.90	1.64%	2.03%	-0.34%	-5.95%	1.32%	0.18%	3.57%	8.98%
MMM	76.24	1.43	1.91%	1.80%	7.81%	3.93%	-7.48%	2.06%	1.34%	-1.18%
XOM	56.31	0.71	1.28%	1.70%	-3.97%	-11.38%	12.42%	-6.15%	0.55%	15.84%
HPQ	27.96	1.16	4.33%	1.41%	1.53%	-4.25%	32.83%	14.17%	37.73%	51.22%
PFE	21.50	0.40	1.90%	1.18%	-11.60%	-13.90%	-18.71%	-19.69%	-19.45%	-25.11%
HON	33.60	0.19	0.57%	1.17%	-6.93%	-10.40%	-4.82%	-13.82%	-6.48%	-0.03%
GE	34.05	0.47	1.40%	0.95%	-0.84%	1.13%	-6.94%	-2.38%	-4.54%	0.06%
UTX	51.38	0.97	1.92%	0.92%	-0.48%	-0.89%	-0.23%	0.06%	2.92%	11.62%
INTC	23.33	0.50	2.19%	0.78%	0.43%	-5.35%	1.13%	-14.67%	0.60%	4.57%
WMT	45.50	0.76	1.70%	-0.48%	1.02%	3.83%	-14.71%	-8.67%	-3.29%	-15.73%
BA	65.64	1.59	2.48%	-0.58%	-2.76%	-3.40%	28.78%	-0.55%	11.78%	31.62%
MCD	32.29	0.74	2.35%	-0.58%	-0.09%	-3.58%	1.48%	6.64%	9.05%	11.23%
JNJ	62.95	1.51	2.46%	-1.75%	-1.18%	-0.52%	0.08%	-2.75%	-6.96%	8.52%
IBM	81.42	-0.89	-1.08%	-2.29%	-1.13%	1.50%	-16.71%	-2.84%	7.26%	-9.03%
GM	27.26	0.07	0.26%	-3.54%	-2.57%	-10.94%	-32.36%	-27.35%	1.91%	-29.76%

This performance chart of the Dow 30 shows 24 stocks up and 6 down this week. Lets take a look at what happened:

The five big winners out of 24 on the week:

DD, up +8.70 pct:
VZ, +7.38 pct:
MRK, up +5.19 pct:
AXP, up +5.07 pct:
CAT, up +4.39 pct:

Let's just say that's a pretty impressive list.

The only six losers on the week:

GM, down "3.54 pct:
IBM, down "2.29 pct:
JNJ, down "1.75 pct:
MCD, down "0.58 pct:
BA, down "0.58 pct:
WMT, down "-0.48 pct:


Here are the links to interactive Dow charts from Investertech.com that I broke into groups of ten, which you can add technical indicators for as well. (list one) (list two) (list three)

(AA) (AA) (Here is the Oct. 21 Value Line report on AA: next one is due Jan. 20)

(AIG) (AIG) (Here is the Aug 26 Value Line report on AIG: next one is due Nov. 25)

(AXP) (AXP) (Here is the Aug 26 Value Line report on AXP: next one is due Nov. 25)

(BA) (BA) (Here is the Sep. 23 Value Line report on BA: next one is due Dec. 23)

(C) (C) (Here is the Aug 26 Value Line report on C: next one is due Nov. 25)

(CAT) (CAT) (Here is the Oct. 28 Value Line report on CAT: next one is due Jan. 27)

(DD) (DD) (Here is the Oct. 21 Value Line report on DD: next one is due Jan. 20)

(DIS) (DIS) (Here is the Aug. 19 Value Line report on DIS: next one is due Nov 18)

(GE) (GE) (Here is the Oct. 14 Value Line report on GE: next one is due Jan. 13)

(GM) (GM) Here is the Sep. 2 Value Line report on GM: next one is due Dec. 2)

(HD) (HD) (Here is the Oct. 7 Value Line report on HD: next one is due Jan. 6)

(HON) (HON) (Here is the Oct. 28 Value Line report on HON: next one is due Jan. 27)

(HPQ) (HPQ) (Here is the Oct. 14 Value Line report on HPQ: next one is due Jan. 13)

(IBM) (IBM) (Here is the Oct. 14 Value Line report on IBM: next one is due Jan. 13)

(INTC) (INTC) (Here is the Oct. 14 Value Line report on INTC: next one is due Jan. 13)

(JNJ) (JNJ) Here is the Sep. 3 Value Line report on JNJ: next one is due Dec. 2)

(JPM) (JPM) (Here is the May 27 Value Line report on JPM: the one that was due Aug 26 was not published for some reason; next one due is Nov. 25)

(KO) (KO) (Here is the Aug. 5 Value Line report on KO: next one is due Nov. 4)

(MCD) (MCD) (Here is the Sept. 9 Value Line report on MCD: next one is due Dec. 9)

(MMM) (MMM) (Here is the Aug 19 Value Line report on MMM: next one is due Nov 18)

(MO) (MO) (Here is the Aug. 5 Value Line report on MO: next one is due Nov. 4)

(MRK) (MRK) (Here is the Oct. 21 Value Line report on MRK: next one is due Jan. 20)

(MSFT) (MSFT) (Here is the Aug 26 Value Line report on MSFT: next one is due Nov. 25)

(PFE) (PFE) (Here is the Oct. 21 Value Line report on PFE: next one is due Jan. 20)

(PG) (PG) (Here is the Oct. 7 Value Line report on PG: next one is due Jan. 6)

(SBC) (SBC) (Here is the Sep. 30 Value Line report on SBC: next one is due Dec. 30)

(UTX) (UTX) (Here is the Oct. 28 Value Line report on UTX: next one is due Jan. 27)

(VZ) (VZ) (Here is the Sep. 30 Value Line report on VZ: next one is due Dec. 30)

(WMT) (WMT) (Here is the Aug 12 Value Line report on WMT: next one is due Nov. 11)

(XOM) (XOM) (Here is the Sep. 16 Value Line report on XOM: next one is due Dec. 16)

The Value Line Reports for this week are CAT, HON and UTX. Also, Value Line published their Aug. 26 JPM report this week because I asked them, and now I thank them.

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Wrap up

We'll have to see how Monday (last day of the month goes), and then Tuesday (first of the next). Right now, there's a battle for your mind. If they take that, they'll take your wallet too.

Caveat emptor. In fact try not to emptor!

It's been a slice. I wonder how many typos I've left today.

BCara@BillCara.com