I'll discuss these two companies in the ETF GICS Sector 50 section below.

A week ago I pointed readers to what I see as the possible tipping point to the 2002-2006 Bull market. That day is coming.

I wrote: "Circle your calendar for October 17-18 this year because that is a 24-hour period when the U.S. Industrial Production, Housing Starts, National Association of Home Builders housing market index, International Capital inflow-outflow data, PPI, CPI, and Crude oil inventory data is reported. Canada's version of the FOMC report is also issued at that time. It strikes me that perhaps this coalition of economic forces hitting the market from all angles on October 17-18 may terminate the stock market cycle. And, reverse the trend from Bull to Bear."

Maybe I have it wrong. Many of you think so.

You are looking at the upcoming 3Q Earnings Season that is about to begin, and you are thinking that double digit earnings growth and continued Bull markets go hand in hand. I hear that a lot.

Often they do, but oh my, how things have changed during a political season. It was just a week ago that I wrote: "Seriously, the important events in the market this week centered on (i) extreme volatility of commodities (ii) the future of hedge funds (iii) the rapidity of the U.S. economic slowdown, and (iv) the dubious stability of the U.S. housing market."

This week, the powers to be have suppressed all such talk.

That too happens often. Do you recall right after Hurricane Katrina, how the U.S. news media stopped all reportage of shut-in oil? It was as if Cinderella had waved her sparkling wand.

Maybe he did " from the Rose Garden.

As I noted a week ago, Talking Heads for vested interests will tell you that (i) commodity market volatility is normal " it isn't (ii) hedge fund investors get what they deserve " that's not the issue (iii) the U.S. economy is somewhere between Goldilocks and soft landing " it's not, and (iv) because of lower mortgage rates, the U.S. housing market will quickly overcome its problems " it won't.

It's almost that whenever we say "this", the Administration parries with "that".

Pigs can't fly. Oh yes they can.

Something happened on Monday morning this week after the weak opening. The existing home sales data, published at 10:00am ET, was weak, which by itself was not surprising to any of us, but combined with falling mortgage rates, there seemed to be new stories floating about (politically inspired?) that the problem was not that bad and help would be on the way, and that home-owners shouldn't fear the predicament of the housing market.

You know, it's one thing for politicians to put their best foot forward and quite another to not discuss issues because they refuse to admit the problems or the risks involved in not resolving them.

How long can "the elite Few" carry on this fiction in the face of facts before "the Many" just cash their chips and leave the game in disgust?

In any case that's the back-drop " the reason I continue to fear that one day soon we'll wake up from dream-land (George's Rose Garden) to an absolute calamity in the capital markets.

As an aside, can anybody tell me who is princess number six? Let's see, there is Cinderella, Bell, Aurora, Laura and Condi;

For now though, we must all look at the reality, which is that markets are in rally mode " a condition I alerted you to about seven weeks ago, even if many of you didn't want to hear it. And that alert followed by a couple weeks my "buy" recommendation on 20 U.S. high-tech stocks.

However, in terms of the bigger picture, I haven't changed my view that someday soon, those with the cash will be king and queen; which is not a fairy tale.

Back to the view from George's Rose Garden, did you all catch the final ticks for the 3rd quarter? If not, have a look below at the final hour of the Hourly data charts of the four major U.S. equity indexes. Does that not tell you we're not playing with a full deck here?

You do that, or I do that, and the Feds come calling.

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Global Market Summary

International Equities: International markets were strong this week. I continue to believe that the bellwethers outside North America appear to be Japan in Asia-Pacific and Germany in Europe.

U.S. Equities : I warned the Bears a week ago: "Following a moonshot week, the U.S. stock indexes were down a bit this week, but actually the losses came mostly from Friday. There is fight in the old Bull yet." This week the Bull roared. Well, Monday and Tuesday anyway.

Dow 30 : There were 27 Dow stocks up and 3 down. Six were up more than +3.0 pct W/W, but these were mostly dubious movers, ie, GM (+8.6 pct), HPQ (+4.5 pct) and XOM (+3.4 pct). The biggest losers a week ago were the biggest winners this week, so money is just sloshing about.

U.S. Sector ETFs: There were 8 ETF's up and 2 down. On Friday though it was almost (not quite) a reverse of that. The big winner from a week ago, IYZ (Telco services), was this week's big loser, and the big loser a week ago, SMH (Chip & Dip), rallied to #3 winner (and could have made it to #1 except for the sell-off on Friday). Traders are wondering where, other than from computer-generated hedge fund orders, has the public gone. The People are back from summer vacation, but not too impressed with this rally.

First segment: most influenced by global commodities, forex and capex spending
10: Energy (XLE): #1 (+4.1 pct); Energy prices are holding
15: Basic Materials (XLB): #4 (+1.8 pct); Friday was a big loser
20: Industrials (XLI): #2 (+3.0 pct); CAT (+4.8 pct) reversed last week's big loss
Second segment: most influenced by U.S. consumer spending and economic growth
25: Cons. Discretionary (XLY): #5 (+1.7 pct); Cheaper gas, more spending
30: Cons. Staples (XLP): #9 (-0.3 pct); Altria down -7.0 pct W/W
35: Healthcare (IYH): #8 (+0.8 pct); reversed last week's loss
Third segment: most influenced by U.S. interest rates and general economic health
40: Financial (XLF): #7 (+1.2 pct); Big banks ok, but time to watch the little ones
45: Tech (SMH chips): #3 (+2.8 pct); From +3.1 to -2.9 pct to +2.8 pct. Tick tock
50: Telecom Services (IYZ): #10 (-0.5 pct); From first to last this week
55: Utilities (XLU): #6 (+1.3 pct); Friday was a big loser though.

Bonds: Bonds getting a little over-bought here with Weekly data RSI 7 up into the mid-70's-low 80's range. The opening on Monday (25th) may have been the peak for this cycle.

Commodities: A week ago, the media was asking: "Commodities: How low do they go? Is the Commodity Bull dead?" Apparently not. Well, possibly not at least.

Oil & Gas: $WTIC futures were jumped +3.9 pct W/W to 62.91 after OPEC said they wouldn't let anybody kick sand in their face.

Gold: $GOLD and $SILVER followed $WTIC back up, but $PALL and $PLAT did not. Volatile $PALL still shows weakness.

Goldminers: The miners were up on the week an average of +2.2 pct, but they sure did weaken quickly from mid-day Friday.

Forex: A week ago I wrote: "The $USD lost almost a full pct, while the Euro gained more than a full pct." This week, the trade was reversed.

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Sector ETF:

Eight of the ten sector ETF's I follow here were up this week, which was a reverse of a week ago. So a week ago when I wrote: "I still smell smoke", it was a good call.

Congress has hit the road in their quest for re-election. In addition to smoke, now there will be mirrors, and magic wands.

For the U.S. equity market, as you know, I study it top down by sector. Here is the weekly performance of my favorite ten Sector Index Funds (ETF's). The following table is sorted by price performance Week over Week (W/W), i.e. 1W%N.

Table 1: Cara ETF List

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
XLE	53.45	0.22	0.41%	4.13%	3.09%	-3.99%	1.42%	-5.50%	-3.17%	-1.96%
XLI	33.34	-0.16	-0.48%	2.96%	1.86%	3.38%	5.41%	-1.48%	-1.39%	11.06%
SMH	34.29	-0.33	-0.95%	2.82%	-0.17%	0.59%	-9.57%	3.69%	-6.52%	-5.59%
XLB	31.64	-0.28	-0.88%	1.80%	1.51%	-0.82%	2.33%	-0.97%	-2.77%	15.90%
XLY	34.95	-0.22	-0.63%	1.66%	1.42%	6.17%	5.91%	4.73%	3.10%	8.30%
XLU	33.99	-0.34	-0.99%	1.31%	0.65%	-2.24%	6.22%	5.56%	8.46%	1.07%
XLF	34.62	-0.10	-0.29%	1.17%	1.38%	3.44%	7.52%	6.75%	5.74%	17.00%
IYH	65.52	0.03	0.05%	0.75%	-0.03%	0.96%	2.97%	9.20%	2.15%	5.64%
XLP	25.38	-0.07	-0.28%	-0.31%	-0.78%	-0.55%	8.28%	4.44%	6.28%	9.78%
IYZ	27.68	0.26	0.95%	-0.47%	0.84%	3.13%	20.51%	9.36%	6.22%	18.04%

You can do this table yourself by entering the following string into the Summary window at Investertech.com and then clicking on the link for Performance. XLE XLB XLI XLY XLP IYH XLF SMH IYZ XLU . You can also add more ETF's " up to 30 in total.

For a list of components to any ETF, simply go to the AMEX.com web site, and click on ETF's. I do that frequently.

Also, Yahoo Finance has an ETF info service in beta testing right now that looks interesting. At Yahoo Finance, key in the ETF ticker symbol of your choice and explore on the left nav bar all the stuff that's available today or coming, including the top ten holdings.

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)

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

This week, XLE regained top spot in my ETF's. Last to first.

XLE was up +4.13 pct. The price of $WTIC (West Texas Intermediate Crude) closed Friday at 62.91 (up +3.90 pct W/W), so the two keep correlating.

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

XLE Monthly data:

XLE Weekly data:

XLE Daily data:

XLE Hourly data:

Table 2: Senior oil & gas equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
PBR	83.83	0.42	0.50%	9.34%	5.78%	-6.50%	12.19%	-4.62%	-1.52%	15.63%
SU	72.05	-0.56	-0.77%	7.03%	6.96%	-7.13%	9.95%	-10.25%	-6.34%	18.66%
CVX	64.86	0.33	0.51%	4.71%	4.97%	0.71%	9.78%	3.86%	10.63%	-1.38%
ECA	46.69	-0.53	-1.12%	4.22%	2.55%	-11.47%	-0.02%	-11.84%	-2.67%	-18.77%
XOM	67.10	-0.36	-0.53%	3.37%	3.79%	-0.84%	14.76%	7.58%	9.50%	3.55%
TOT	65.94	0.16	0.24%	2.95%	4.60%	-2.21%	-49.30%	2.79%	-49.74%	-52.04%
IMO	33.55	-0.34	-1.00%	2.54%	-0.39%	-11.17%	-67.74%	-6.31%	-68.47%	-70.58%
CEO	83.29	0.58	0.70%	1.62%	1.87%	-4.45%	20.38%	3.09%	7.44%	14.66%
STO	23.82	-0.84	-3.41%	1.06%	-1.24%	-11.88%	-1.28%	-17.63%	-16.16%	-6.84%

Big Oil (Exxon Mobil and Chevron Texaco) were up +3.4 and +4.7 pct respectively, which is a good campaign fundraiser kick-off. And as long as fuel pump prices stay down this week, the voters will be happy campers too.

That's called having your cake and eating it too " something that is permitted in George's Rose Garden.

Integrated Oil & Gas - Canada

Oil & Gas Exploration & Production -Canada

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

The Basic Materials ETF (XLB) gained +1.80 pct W/W to close at 31.64 " but take note that the whole gain was Monday and Tuesday.

Do you think that gave HB&B sufficient time from Wed-Fri to take their profits they'll now report for Quarter number 3.

Bingo.

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

XLB Monthly data:

XLB Weekly data:

XLB Daily data:

XLB Hourly data:

Table 3: Senior metals and steel equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
RIO	21.56	0.23	1.08%	7.58%	3.41%	0.56%	0.28%	-8.64%	-7.35%	-3.71%
NUE	49.49	-0.09	-0.18%	5.37%	5.84%	1.27%	42.70%	-9.79%	-6.45%	71.36%
GGB	13.55	0.01	0.07%	4.63%	-2.31%	-6.68%	-22.17%	-8.94%	-39.26%	-8.14%
RTP	189.63	-1.39	-0.73%	4.24%	2.57%	-5.87%	0.43%	-9.79%	-4.70%	14.77%
BHP	37.88	-0.42	-1.10%	3.16%	0.91%	-10.02%	8.23%	-10.53%	-1.81%	10.63%
PKX	64.93	0.30	0.46%	2.88%	5.68%	4.54%	29.21%	-3.88%	3.01%	13.89%
PD	84.70	-0.05	-0.06%	2.42%	1.16%	-5.36%	13.43%	3.29%	9.97%	29.17%
AA	28.04	0.15	0.54%	2.00%	-0.32%	-1.92%	-6.22%	-12.10%	-8.69%	14.68%
N	76.27	-0.19	-0.25%	0.13%	-0.25%	-2.16%	76.27%	16.76%	52.24%	62.97%
ACH	63.72	-0.33	-0.52%	-1.88%	-3.16%	-9.10%	-19.75%	-15.88%	-39.82%	2.25%

Except for China Aluminum (ACH) " that was a neat MS report I gave you this week " and Inco, where staff is departing, the rest of the group did rather well.
Download Morgan Stanley Sept 25 report on Aluminum.

Do you think that's because the economy is doing so well, or because a "soft" landing is now plausible?

The steel market showed a lot of life this week. The iron ore from CVRD must have been hot rolled in a lot of places because RIO was up +7.6 pct W/W. And Nucor (+5.4 pct) and Gerdau (+4.6 pct), wow! That's a lot of hot rolling.

Do you think the economy is for real or do we only imagine that the U.S. housing market decline will hurt this industry for many months to come?

Let's keep our eye on the global steel market. Then again, maybe it's already the playground of too many gnomes.

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

The Industrials and Transport sector ETF (XLI), aka capital goods producers, was up +2.96 pct W/W to 33.34, which puts XLI into the #2 slot of my ETF's.

As I wrote a week or two ago: "The key to the health of the global and U.S. economy is the Dow Transport Index." Let's have a look.

Can the 4550 index level hold and see this index test the May 10 cycle high (now technical resistance) of 5000?

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But, hang on. Let's not try to speak out of both sides of our mouth as do many Talking Heads on CNBC.

If Transports are moving because the economy has been kick-started by lower fuel costs, that's a potentially sustainable move. But if these oil prices don't continue to fall " like Natural Gas prices " then I'm going to pay less heed to this move.

On the other hand, if NG prices start to rise because the economy is strengthening, and oil prices can stay contained in the 55 range, then yes I would agree to move some cash back into equities.

Then again, maybe now that HB&B has screwed over Amaranth, and taken their multi-billion profit on the NG trades, maybe we'll see NG prices rise for no other reason than a reversion to the mean based on a now honest market?

The Dow Transports Average ETF is IYT. At the Amex.com website, you can see the list of holdings, as follows, which I recommend you pay closer attention to here. If the economy weakens, the rally in these stocks is likely to falter.

I think the probability of these Transportation stocks rolling over is better than 50 pct if Crude Oil ($WTIC) does not stay below $60. The economy is simply not strong enough for these companies to pass costs through to customers. In addition to the high cost of fuel, there are too many other problems in the economy to ignore, not the least of which is the housing market and the credit system.

---

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

XLI Monthly data:

XLI Weekly data:

XLI Daily data:

XLI Hourly data:

Table 4: Senior capital goods makers and transportation

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
CAT	65.80	-0.79	-1.19%	4.83%	0.57%	-0.83%	13.84%	-11.56%	-10.68%	13.47%
TYC	27.99	0.05	0.18%	3.44%	5.58%	7.04%	-5.57%	2.60%	2.38%	1.30%
CBE	85.22	0.39	0.46%	3.23%	3.86%	4.08%	15.35%	-7.83%	-1.88%	24.83%
GE	35.30	-0.18	-0.51%	2.62%	1.29%	3.64%	-0.20%	6.10%	4.04%	4.90%
BA	78.85	-0.43	-0.54%	2.07%	5.12%	5.27%	12.10%	-5.00%	-0.42%	17.20%
MMM	74.42	-0.18	-0.24%	1.85%	0.38%	3.79%	-5.93%	-8.29%	-4.05%	1.69%
UTX	63.35	-0.31	-0.49%	1.69%	-1.95%	1.02%	12.06%	0.09%	8.64%	23.01%
HON	40.90	-0.47	-1.14%	1.64%	2.89%	5.63%	9.18%	2.35%	-3.24%	8.92%
ERJ	39.27	-0.16	-0.41%	-1.01%	-3.54%	1.74%	0.03%	10.00%	2.40%	0.69%

The group's big loser from a week ago, Caterpillar (CAT -2.7 pct), was its big winner this week (+4.8 pct). So CAT over two weeks has gained +0.6 pct, but over four weeks has lost -0.8 pct.

This group generally had a tough day Friday though.

Can't you just feel the money sloshing around?

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

The Consumer Discretionary sector ETF (XLY) was up +1.66 pct W/W, so last week's small loss was exactly what I said: "merely a rest stop on a long campaign trail."

I can't get too enthused about this sector until I see the Earnings/Guidance this month, as well as the econ data. I'm not anticipating improvements, but then again I'm not calculating and reporting the data.

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

XLY Monthly data:

XLY Weekly data:

XLY Daily data:

XLY Hourly data:

Table 5: Senior consumer discretionary equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
EBAY	28.36	-0.05	-0.18%	8.62%	1.83%	1.79%	-36.21%	-3.08%	-27.87%	-31.33%
CCL	47.03	0.10	0.21%	5.21%	7.35%	12.24%	-13.82%	14.51%	-0.11%	-4.16%
DIS	30.91	-0.02	-0.06%	2.76%	1.98%	4.25%	26.68%	3.45%	10.95%	29.01%
JCP	68.39	-0.89	-1.28%	2.70%	5.65%	8.49%	21.15%	1.03%	11.44%	45.54%
TM	108.90	-0.22	-0.20%	1.77%	2.58%	0.52%	1.92%	6.52%	-0.33%	15.90%
BC	31.19	-0.38	-1.20%	1.56%	3.21%	8.68%	-23.59%	-3.59%	-20.92%	-16.25%
NKE	87.62	-0.68	-0.77%	1.46%	5.60%	8.49%	1.94%	8.20%	2.43%	8.04%
SBUX	34.01	-0.21	-0.61%	0.00%	0.47%	9.67%	10.17%	-10.43%	-9.38%	38.42%
WHR	84.11	-0.55	-0.65%	-4.15%	-5.09%	3.96%	1.74%	2.06%	-12.34%	12.72%

Now here's a good example of how computer trading has taken control of markets. Look at EBAY.

Do you recall my words: "A week ago I wrote: "My EBAY took a hit of -2.3 pct this week after being up +14.8 pct in the previous 4-weeks." This week EBAY plunged -6.3 pct. Seems like media advertising revenues have fallen off the cliff " Yahoo, New York Times, whatever."

I guess there was no problem after all " this week EBAY was up +8.6 pct. Surprise, surprise, EBAY is now up +1.8 pct in the past four weeks. I guess that saved a few jobs among the professional money managers.

And Disney's ABC must have got back all that lost advertising revenue because the stock was up this week +2.8 pct.

And despite Crude Oil that was rising +3.9 pct this week, nothing was going to stop the Carnival Cruise ships from ringing up a weekly gain of +5.2 pct.

Maybe it's a campaign promise: vote for me and I'll send you on a Disney or Carnival ship cruise that terminates at Port Canaveral, followed by a trip to Cinderella Castle in George's Magic Kingdom.

Now let's see; by saving $10/week at the fuel pump, that ought to pay for one-third of one person to go on one of those Fun trips.

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

This week the Consumer Staples sector ETF (XLP) lost -0.31 pct to close at 25.38, which all happened on Friday. They have been losers the past couple weeks, but, as you know, I'm not down on Staples. Time to stock up.

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

XLP Monthly data:

XLP Weekly data:

XLP Daily data:

XLP Hourly data:

Table 6: Senior consumer staples equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
ABV	45.38	-0.37	-0.81%	3.84%	0.78%	1.16%	17.75%	11.86%	8.28%	21.69%
WMT	49.32	-0.49	-0.98%	2.13%	2.28%	10.29%	6.68%	1.25%	2.64%	13.28%
KO	44.68	-0.27	-0.60%	1.57%	0.18%	-0.29%	9.24%	3.76%	5.98%	3.67%
PEP	65.26	-0.04	-0.06%	1.52%	0.35%	-0.03%	9.20%	9.68%	11.73%	15.50%
BUD	47.51	-0.46	-0.96%	0.76%	0.42%	-3.79%	8.79%	3.89%	9.77%	9.32%
PG	61.98	-0.28	-0.45%	0.28%	1.77%	0.13%	5.44%	8.76%	7.34%	6.60%
WFMI	59.43	-1.00	-1.65%	0.24%	5.52%	10.84%	-22.92%	-7.60%	-10.66%	-9.90%
DEO	71.04	-0.12	-0.17%	-0.81%	1.24%	-0.64%	19.27%	5.81%	11.82%	22.31%
WAG	44.39	-0.52	-1.16%	-5.35%	-11.15%	-10.25%	-2.20%	-1.94%	0.89%	2.64%
MO	76.55	-0.42	-0.55%	-7.01%	-7.93%	-8.36%	2.09%	3.60%	5.12%	3.94%

Many of this group had a tough day on Friday, especially the Wallies " WMT and WAG.

Do you think maybe if the Wallies are going to outperform in a Bear market, you might want to sell the stocks and (at the lower prices) load up on long-dated call options? Do you think?

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

The healthcare ETF (IYH) was up +0.75 pct W/W to close at 65.52, so we're back to where we were two weeks ago.

Flat on our back " on a hospital bed, waiting for the surgeon.

Oh do you think Biovail has a legitimate concern about market manipulating syndicates that affect their share prices? Or how about Fairfax Financial or Overstock.com? Is it all smoke and no fire?

It's pretty hard to fight the Club you know. That's why I'm proud of Eliot Spitzer's efforts against Richard Grasso. Grasso was head of the Club.

Right or wrong, Spitzer's office has the power to open the boardroom drapes and let the sunlight in. The public needs to see what's really going on, which is the last thing the Club wants to happen. Those people have a one-track mantra: self-regulation.

It optimizes profits.

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

IYH Monthly data:

IYH Weekly data:

IYH Daily data:

IYH Hourly data:

Table 7: Senior healthcare equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
DNA	82.70	0.50	0.61%	5.39%	4.70%	0.22%	-12.02%	3.21%	-2.00%	-1.02%
AET	39.55	0.67	1.72%	3.21%	0.87%	6.12%	-15.90%	0.79%	-21.76%	-6.61%
JNJ	64.94	0.04	0.06%	1.53%	1.80%	0.43%	5.37%	8.43%	9.12%	1.87%
AMGN	71.53	-0.02	-0.03%	0.90%	2.52%	5.32%	-10.99%	9.88%	-0.68%	-10.33%
PFE	28.36	0.06	0.21%	0.71%	1.14%	2.90%	19.26%	22.03%	12.36%	13.03%
UNH	49.20	-0.26	-0.53%	0.47%	-5.77%	-5.29%	-20.30%	9.31%	-12.11%	-11.70%
NVS	58.44	-0.49	-0.83%	0.09%	2.42%	2.31%	9.29%	9.42%	5.91%	15.79%
BMET	32.19	-0.45	-1.38%	-0.09%	-5.02%	-1.59%	-12.72%	0.97%	-10.56%	-7.58%
BMY	24.92	0.07	0.28%	-0.56%	0.00%	14.57%	7.23%	-3.04%	-0.08%	3.66%
GSK	53.23	-0.32	-0.60%	-1.41%	-3.83%	-6.25%	4.45%	-3.15%	1.86%	4.64%

Aetna (AET) had a big day Friday, in a sloppy market. Since the stock had been down -16 pct year-to-date, maybe there were some embarrassed traders who wanted to paint lipstick on what has turned out to be a pig.

I've been disappointed in Aetna because it's in the Cara 100, and the stock is down -22 pct in the past six months.

Glaxo Smith Kline (GSK) is another, dropping -1.4 pct this week, and -6.3 pct in the past four. That usually doesn't happen to solid companies in a terrific Bull run.

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

The Financials ETF (XLF) gained +1.17 pct W/W to close at 34.62. Traders must be thinking ahead to the gazillion dollar profits HB&B has made this Quarter from over-reaching hedge funds.

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

XLF Monthly data:

XLF Weekly data:

XLF Daily data:

XLF Hourly data:

Table 8: Senior financial company equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
LEH	73.86	0.51	0.70%	4.22%	3.14%	15.75%	13.74%	14.37%	2.64%	26.32%
CSR	59.15	-0.11	-0.19%	2.76%	6.25%	7.66%	10.87%	9.84%	5.55%	32.71%
DB	120.70	-0.22	-0.18%	2.13%	2.80%	5.59%	21.36%	9.03%	6.82%	27.78%
MS	72.91	0.02	0.03%	1.57%	2.76%	10.82%	24.74%	16.58%	15.91%	0.00%
GS	169.17	-0.83	-0.49%	0.98%	3.97%	13.80%	31.27%	11.15%	7.82%	39.56%
HBC	91.53	-0.28	-0.30%	0.77%	1.71%	0.65%	12.06%	4.55%	9.80%	11.96%
UBS	59.31	0.31	0.53%	0.61%	3.83%	4.47%	20.18%	9.45%	9.57%	36.79%
C	49.67	-0.26	-0.52%	0.34%	0.98%	0.65%	0.77%	1.66%	4.28%	8.83%
JPM	46.96	-0.19	-0.40%	0.30%	0.02%	2.85%	16.84%	10.03%	12.67%	36.71%
MER	78.22	-0.87	-1.10%	0.13%	1.37%	6.38%	14.26%	11.62%	-0.18%	27.58%

Lehman Bros (LEH) continues to roll along nicely this month, going up +16 pct, including +4.2 pct this week.

LEH and MS (Morgan Stanley) and Goldman Sachs (GS) blew away the Street forecasts this month, and these Cara 100 company stocks have been on a ride.

On second thought, Morgan Stanley is not a Cara 100 company " just a former employer of Cara. Under John Mack, this company is now the talk of the Street.

No " forget the talk of Mack and the hedge fund business " I am referring to the business turnaround under Mack. Solid.

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

The semi-conductor ETF (SMH) has been gaining the most and then losing the most almost every week. This week, with Intel (INTC) being up +8 pct W/W, the SMH jumped +2.82 pct to $34.29.

I pay a lot of attention to the chip industry because I see it as a leading indicator of technology and in turn for the business cycle. When chips stop dipping, I take a serious view of the broad market Bull perspective.

My friend Manish from Ft. Lauderdale has forwarded an interesting piece of analytical research on the semi-conductor industry. His firm, H&R Block Financial Advisors (via the Investment Management Department, which is 100-pct independent of the sell-side), has downgraded the chip sub-sector group from Neutral to Under-perform.

Download HRB Sept 26 "Easing up on the Semi's" Report.

HRB concludes:

"We do believe there are increasing signs of weakening fundamentals for the group. When we combine the conservative-turned-cautious comments from certain companies along with the increasingly difficult ‘compares' for quarterly growth versus existing expectations in the sector, we believe the group may be preparing for a multi-month pause."

HRB also cited Cara 100 component Micron Technology as a problem in the near-term. After I noted in mid-July that MU was a Buy, the stock had a +33 pct run in the next two months to $14.65. Now it has backed down a bit (still a +22 pct gain), and maybe nervous traders would want to consider booking profits.

If you have enough time, the stocks of good quality companies always come back to new highs. Unfortunately the Bear market ebb tide intervenes. It takes down even the best made boats before bringing the best ones back as leaders of the fleet.

I agree with the HRB call, and am impressed with their stance. Their report is definitely worth reading.

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Micron Technology [GICS 45, Cara 100]
(MU: Yahoo Finance file)
(MU: StockChart chart)
(MU: Investertech chart)
(MU: ADVFN Financial Data)
(MU: ADVFN Financial Data)

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

SMH Monthly data:

SMH Weekly data:

SMH Daily data:

SMH Hourly data:

Table 9: Senior technology equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
INTC	20.59	-0.20	-0.96%	7.97%	5.43%	5.37%	-19.48%	6.57%	3.88%	-15.89%
INFY	47.73	-0.23	-0.48%	3.56%	1.75%	6.42%	-40.67%	-36.34%	-36.56%	-35.04%
CTSH	74.03	-0.98	-1.31%	1.91%	3.44%	5.89%	46.04%	9.82%	23.06%	61.78%
SAP	49.50	-0.58	-1.16%	1.77%	1.77%	3.69%	7.73%	-5.41%	-5.28%	14.37%
ORCL	17.74	-0.25	-1.39%	1.14%	8.63%	13.35%	40.79%	20.35%	29.30%	43.99%
ADBE	37.45	-0.93	-2.42%	1.05%	1.22%	15.44%	-2.78%	23.19%	4.17%	25.84%
CSCO	23.00	-0.48	-2.04%	0.52%	0.92%	4.59%	31.81%	15.52%	6.63%	28.78%
SNDK	53.54	0.49	0.92%	-3.32%	-8.49%	-9.13%	-20.92%	2.23%	-9.45%	18.79%
ADSK	34.78	0.25	0.72%	-3.63%	-2.82%	0.06%	-18.64%	0.90%	-9.12%	-22.44%
QCOM	36.35	-0.67	-1.81%	-3.99%	-1.25%	-3.50%	-17.39%	-10.34%	-28.33%	-19.20%

Some of the Cara 100 tech stocks had a rough day Friday. Adobe (-2.4 pct), Cisco (-2.0 pct), Qualcomm (-1.8 pct), and Oracle (-1.4 pct) took the hits, along with others, as I suppose some of the managers wanted to book the profit this quarter, which closed Friday. And SanDisk was off -3.3 pct on the week too.

Obviously RIMM is back in motion after reporting a superb quarter with strong guidance ahead. It closed at $102.65.

Aren't you happy I put Research In Motion into the Cara 100 a few months ago? The stock is up over +40 pct since then.

Sorry Howard, but I let it out of the bag. But all good things (ie, profits) must come to an end (ie, realized), which is a way of saying ‘booked'.

Two good rules:

* Buy on rumor or media bad-mouthing; sell on news or media hype.

* Buy when the Relative Strength (RSI 7 index) is low (ie, below 30 and sell when it's above 70 on the Monthly, Weekly and Daily).

Also, for detractors who think I have been giving bearish recommendations in this blog, let me point you to the list of twenty "buy" recommendations in the Tech sector on July 21. To this point, they are up +14.2 pct, and that is just an end-of-day calculation. It does not factor in my selling at higher prices, ie, when Daily RSI got over 70.

In fact, when I recommended the list of 20, there was an average RSI 7 on the Daily price data of just 30.25 and the media and analysts were mostly down on these stocks. Today the RSI 7 average is 53.22, and most of the media and analysts are fully inspired.

I often buy as a group and sell individually. In the interim, the group average RSI was higher than 53 because there were much higher prices for YHOO, QCOM and SNDK, for example. I would not be holding those stocks here.

In fact I am presently flat the whole group because the profits were taken. Some, not all, worked out, but the average gain was exceptional.

The point is that you have to monitor these RSI values. When the sector or sub-sector get over-sold, ie, down below 30, and the Monthly, Weekly and Daily are bottoming together " that's usually the time when most Talking Heads are bad-mouthing the stocks, and almost always a great time to buy.

A couple readers have noted that I have not been following my own guidelines on RSI. That may be. I'll do a comprehensive study next week on RSI, and we'll find out.

BTW, I'm working on a graphical presentation of RSI Monthly, Weekly and Daily values of all the Cara 100, and updating it daily on this blog. Then, when readers see the clear evidence that I'm not drinking my own lemonade, you can legitimately inquire as to whose lemonade I really am drinking. :-)

As a final point on "bearishness" " don't mistake the difference between attitude and action or between bearish attitude and prudence. I'm always cautious; sometimes a little more than others.

Like today, for instance.

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Sector 50 (telecom: IYZ, VOX and IXP)

A week ago I wrote: "The U.S. telco sector ETF (IYZ) was Sector ETF #1 this week, going up +1.31 pct W/W to close at 27.81. I even checked: the last time IYZ was Numero Uno was Week #7-Feb-18-06."

This week was a different story. IYZ was dead last. Still talking mind you. Just dead from above the ears.

Despite a rocket day Friday (up +1 pct), IYZ fell -0.47 pct W/W to close Friday at 27.68.

On the week, T lost -1.0 pct, which was the 2nd worst Dow 30 performer, and VZ gained +0.08 pct to be 4th worst Dow 30 performer on the week. So, clearly the telcos fell from grace this week.

The Value Line reports this week, as I noted right off the top, are AT&T and Verizon.

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AT&T [GICS 50, Dow 30]
(T: Yahoo Finance file)
(T: StockChart chart)
(T: Investertech chart)
(T: ADVFN Financial Data)
(T: ADVFN Financial Data)
(T: Value Line Report Sep. 29: next one is due Dec. 29)

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Verizon [GICS 50, Dow 30]
(VZ: Yahoo Finance file)
(VZ: StockChart chart)
(VZ: Investertech chart)
(VZ: ADVFN Financial Data)
(VZ: ADVFN Financial Data)
(VZ: Value Line Report Sep. 29: next one is due Dec. 29)

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Interestingly, the Standard & Poor's analyst Justin Hellman rates AT&T stock as a "1" for Timeliness, opining that: "The stock has worthwhile total-return potential (of between 10-17 pct Annual TR) out to 2009-2011 (even without) the BellSouth acquisition factored into earnings". But, S&P's Kenneth Nugent rates Verizon a "3" for Timeliness, opining: "This neutrally ranked equity's value has increased by roughly 12 pct since our June report, thereby limiting its appreciation potential through 2009-2011.

Think about the last sentence. A three-month +12 pct price move is going to materially alter 5-year ATR projections, and then he forecasts an ATR range of between 5 and 16 pct, while rating the stock "Technically" a "3".

Wow, without comment on VZ, I think Mr. Nugent is a work-in-progress himself.

As I see it, these stocks are a bit like Canadian income trusts, ie, mature companies with slow growth and high dividend payouts as a pct of net profit. The problem is their dividend yields, while high for a Dow 30 or S&P 500 stock are still down in the 4.2-4.4 pct range, and I'd be looking for something higher.

I am impressed with S&P's assessment for AT&T of relatively high growth in earnings and dividends for 2006-2007, but T and VZ are slow-moving (yet over-hyped) companies that don't interest me much, frankly.

There are better values for conservative long-term oriented portfolios, but short-term I believe the relatively high dividend yield will attract a lot of capital from owners and managers who fear a Bear market ahead.

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

IYZ Monthly data:

IYZ Weekly data:

IYZ Daily data:

IYZ Hourly data:

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

The Utilities ETF (XLU) has had a tough four weeks (-2.24 pct) and lousy past year (+1.07 pct). Along with 3 pct dividend yields, the +4 pct Total Return here was not much utility. T-Bills would have done better.

But there are pro traders who think that as the U.S. GDP slows, so too will the price growth of XLU. In a recession, XLU is a bad best place to be over-weighted.

I have been pointing readers to the new Yahoo Finance site for ETF's like XLU where you will discover lots of useful information.

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

XLU Monthly data:

XLU Weekly data:

XLU Daily data:

XLU Hourly data:

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Bonds:

After a moon shot in bonds a week ago, this week there wasn't much happening at all. A little money came off the table in the 5-, 10- and 30-year Treasury's and went into T-Bills. That's all I can see.

This week, the 30-year T-Bond yield lifted +3 basis points from 4.73 to 4.76 pct. The 10-year lifted the same from 4.59 to 4.62 pct. The 5-year lifted +6 bp from 4.53 to 4.59 pct. The yield on the 2-year was unchanged, and the 3-month T-Bill had a drop in yield from 4.78 to 4.74 pct.

With the Fed rate at 5.25 pct, there still is a problem for the tiny U.S. banks to make any serious money in their loan business. I have observed a huge number of local and regional U.S. banks be acquired in the past five years, and I think the process is going to start up again soon.

Interest rates and bond yields.

Weekly data charts:

Daily data charts:

Hourly data charts:

US Treasury Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
3 Month	4.74	4.72	4.78	4.90
6 Month	4.80	4.79	4.81	4.93
2 Year	4.67	4.65	4.66	4.82
3 Year	4.61	4.58	4.57	4.74
5 Year	4.59	4.56	4.53	4.72
10 Year	4.62	4.61	4.59	4.75
30 Year	4.76	4.75	4.73	4.90

Municipal Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	3.49	3.48	3.51	3.53
2yr AAA	3.48	3.47	3.50	3.54
2yr A	3.58	3.54	3.57	3.60
5yr AAA	3.53	3.52	3.56	3.62
5yr AA	3.55	3.54	3.58	3.63
5yr A	3.57	3.53	3.57	3.64
10yr AAA	3.66	3.63	3.69	3.78
10yr AA	3.64	3.61	3.67	3.77
10yr A	3.79	3.84	3.84	3.96
20yr AAA	4.06	4.02	4.05	4.16
20yr AA	4.05	4.04	4.05	4.15
20yr A	4.18	4.17	4.17	4.25

Corporate Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	5.09	5.08	5.07	5.26
2yr A	5.15	5.13	5.13	5.32
5yr AAA	5.20	5.06	5.08	5.25
5yr AA	5.18	5.15	5.14	5.32
5yr A	5.26	5.24	5.21	5.40
10yr AAA	5.44	5.38	5.36	5.59
10yr AA	5.43	5.41	5.38	5.52
10yr A	5.50	5.49	5.48	5.68
20yr AAA	5.81	5.79	5.78	5.82
20yr AA	6.01	6.03	6.03	6.00
20yr A	5.97	5.95	5.97	6.14

Interest rates and bond yields.

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After a huge week for bonds the previous week, this week was flat to down. I wouldn't make too much of that " just consolidating those prior gains probably.

The Fannie and Freddie stories were cranked up as Congress started packing their bags for the trip home. Fannie Mae (FNM) gained +4.5 pct and Freddie Mac gained +3.4 pct this week. You have to wonder if Congress is ever going to put these two GSE's entirely back into the private sector.

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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:

Bonds were up big time " right from Monday morning. But the $USD was down a lot.

Table 11: Interest-sensitive securities

Sorted by 1-Week Price Performance.

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
FNM	55.91	0.65	1.18%	4.49%	3.98%	6.19%	14.71%	15.85%	6.23%	24.55%
FRE	66.33	0.57	0.87%	3.37%	3.04%	4.29%	1.58%	16.16%	4.97%	16.43%
TIP	101.15	-0.04	-0.04%	0.13%	1.00%	-0.45%	-1.83%	2.13%	0.27%	-4.07%
AGG	100.16	0.05	0.05%	0.10%	0.92%	0.61%	-0.48%	2.78%	0.97%	-1.42%
SHY	80.34	-0.04	-0.05%	0.05%	0.40%	0.11%	0.02%	0.90%	0.42%	-0.45%
CFC	35.04	0.15	0.43%	-0.03%	0.52%	3.67%	0.23%	-7.96%	-2.01%	6.18%
IEF	83.08	-0.15	-0.18%	-0.22%	1.28%	0.75%	-0.98%	3.76%	1.61%	-1.89%
TLT	89.39	-0.13	-0.15%	-0.25%	2.21%	1.49%	-2.60%	6.95%	2.15%	-3.38%

As I say, Fannie and Freddie in the past 3 months are up ~+16 pct each. From that, you wouldn't know there was any problem in the U.S. housing market.

Consumer Finance -USA -- Weekly Data Charts

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Consumer Finance -USA -- Daily Data Charts

Consumer Finance -USA -- Hourly Data Charts

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Commodities:

The $CRB finally had a winning week after four consecutive losing ones. The index was up +1.57 pct to close at 305.58.

The strength was the oil market.

Weekly CRB Commodities Index:

Daily CRB Commodities Index:

This week, $WTIC (near oil futures) traded down as low as 59.52, but the close on Friday was 62.91, which was a gain of +3.90 pct W/W. OPEC apparently reported an inclination to drop production in order to maintain Crude Oil prices at about the current level.

That's not surprising; everybody want theirs.

Most of the major broker-dealers are still calling for a $60 average oil price, with Goldman Sachs sticking to their $75 number.

Weekly Crude Oil:

Daily Crude Oil:

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Gold:

A week ago, $GOLD moved higher by $11.93 (+2.07 pct W/W) to $588.60, which broke the free fall. This week $GOLD moved up a further $10.33 (+1.76 pct W/W) to close at $598.93.

A week ago I wrote: "The 200-day Moving Average (for $GOLD) is now 594.23, and the 50-day MA is at 621.19. So the current price is just below the 200-day MA, which is a significant point. It must get over that hump."

Today, the 200-day MA for $GOLD is 596.11, and the 50-day MA is at 616.64. So the current price is just slightly above the 200-day MA, but not clearly over the hump.

In fact the $USD had a good week, moving up +1.0 pct.

This week's literature seems to have spurred some further interest in the gold and silver market, but all is not well in the precious metals complex. In fact, I believe that the public's interpretation of the so-called Washington Agreement by European central bank sales of gold is somewhat dubious.

Moreover, the major broker-dealer research reports appear to be solidly behind a consensus opinion that gold will trade at least ten percent higher next year, and the gold bugs are holding dear to that as well.

I continue to believe, however, that gold in the near-term will have one more test of the floor, which in my view is $540 (maybe $560), before moving into the mid-600's.

Personally, I don't see that as a problem (if it happens) because most of the top-quality gold miners can make good profits at that gold price.

But I also believe that the next Bull phase in the gold market will be on the back of a sliding $USD, and that $GOLD will move back over $700, and probably (as I see it) over $800. I also see that happening sooner than later " say within 12 months.

When I look into the future of these gold miners, I can see a lot of new but small mines coming on-stream, but the winding down of some major producers. The net effect will likely be a declining gold production over the next 5 to 8 years.

The U.S. reserves are still quite sufficient to sell off bullion to hold the price from escalating to the $2000, $4000 and $10000 price levels I have read that some people are forecasting, so I'm content to stick with the $800 range as a best guess on the peak level of the next spike.

Depending on how many years you'd care to plan, I see that gold will continue to do as well as or better than say land banking or average home values after netting out costs.

But the truth is I'm only interested in gold (and silver) right now (ie, at relatively modest CPI levels), as an alternative to a heavier weighting of cash " partly because I believe that the $USD will fall in value (and the Cdn $ not do that well either) and partly because I believe that following a Bear market in equities, there will be plenty of excellent places to put the bulk of that cash to work.

So the message I'm giving here is (i) I'm not a gold bug, (ii) I think gold prices will get a bit worse before taking off, and (iii) I hope the average person hangs in with their gold positions for the time being, and adds to them when $GOLD breaks out into the $615-625 range (which would be a momentum play), or breaks down into the $540 range (which would be a value play).

Then after $GOLD has had some of its run to the upside, and most of the stocks of the Cara 100 (or other good quality companies) have had a run to the downside, I'd be selling some of the gold and using the extra cash and the rest of the cash to buy the other stocks.

If $GOLD does pull back into the $540-560 range, I'd recommend listing to all or most of the webcasts from the Denver Gold Forum, which I organized for you here. There is a considerable difference in quality of these companies. The good ones will be thrown out by the fund managers along with the bad ones, and that will be the time to buy. Just be selective.

Weekly Gold EOD Continuous Contract Index:

Daily Gold EOD Continuous Contract Index:

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

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$SILVER gained $0.29 (+2.61 pct W/W) this week " almost as god as a week ago -- to close at 11.46, which included softness again on Friday.

The 200-day MA is 11.10 and the 50-day MA is 11.81. So the current price is now well above the 200-day MA.

If the precious metals are going to break out to the upside, I'd expect to see $SILVER and $PALL lead the way. Unfortunately $PALL this Friday took a noser. So the blue sky might just turn red in the morning (to non-sailors, take warning).

Weekly Silver EOD Continuous Contract Index:

Daily Silver EOD Continuous Contract Index:

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

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$PLAT dropped -0.57 pct W/W to 1147.10, which is negative, but not enough to talk about.

The price is sitting just above the 200-day MA, and below the 50-day MA, but not looking so hot to me.

Weekly Platinum EOD Continuous Contract Index:

Daily Platinum EOD Continuous Contract Index:

This interactive chart shows the recent trading for the Platinum metal index.

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$PALL, as I said, had a weak week, actually a terrible Friday, losing -2.36 pct on Friday, to pull the week down -1.54 pct to close at $316.45.

$PALL is now trading below both the 200-day and 50-day Moving Averages, which is not good if you are Bullish.

Weekly Palladium EOD Continuous Contract Index:

Daily Palladium EOD Continuous Contract Index:

This interactive chart shows the recent trading for the Palladium metal index.

---

$COPPER has been all over the map as they say. It plunged -7.19 pct two weeks ago, and then gained +3.99 pct a week ago. This week $COPPER apparently didn't know where to go, so it stayed relatively flat, going up +0.49 pct on the week, but all of that and more (+0.95 pct) on Friday to close at 346.25.

The 50-day MA is 347.55, so the current price is just slightly below it, and it is still well above the 200-day MA.

There are experts who are forecasting a -50 pct drop in $COPPER, but I have to ask if these so-called experts are the proprietary traders at the HB&B desks. They seem to be the only ones to really know.

BTW, I ran into a former business associate at the Toronto Resource Investment Forum who once was the metals trader for the world's richest person. I remember him telling me he once pulled the trigger on what was then the biggest trades in the world in copper.

He's no longer a commodities trader, and his client is no longer the richest person in the world, which somehow does not surprise me.

---

Weekly Copper EOD Continuous Contract Index:

Daily Copper EOD Continuous Contract Index:

This interactive chart shows the recent trading for the Copper metal index.

---

Table 12: Senior gold equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
KGC	12.52	0.02	0.16%	5.12%	5.03%	-10.70%	26.59%	21.20%	18.45%	60.10%
ABX	30.72	-0.11	-0.36%	4.88%	5.64%	-8.24%	6.59%	4.92%	15.06%	4.85%
GG	23.60	-0.35	-1.46%	4.38%	2.88%	-14.68%	-2.48%	-19.81%	-17.42%	16.72%
GLG	39.43	-0.47	-1.18%	4.31%	5.57%	-14.51%	32.54%	6.25%	26.46%	77.61%
MDG	24.86	0.09	0.36%	2.60%	-2.47%	-16.41%	3.76%	-21.03%	-16.18%	11.93%
AEM	31.13	-0.45	-1.42%	2.44%	1.80%	-17.54%	41.24%	-2.23%	10.23%	105.89%
LIHRY	40.75	0.34	0.84%	0.02%	-10.54%	-7.20%	17.50%	-0.61%	24.12%	51.77%
GFI	17.84	-0.46	-2.51%	-0.17%	1.42%	-10.26%	-7.42%	-20.71%	-15.09%	21.69%
BVN	27.00	-0.54	-1.96%	-1.60%	0.22%	-3.40%	-8.66%	2.35%	7.57%	-10.33%
NEM	42.75	-0.58	-1.34%	-2.35%	-3.17%	-16.59%	-25.18%	-18.09%	-16.97%	-11.03%

Finally, the GDX had a recovery week. GDX was up +2.30 pct to 35.65.

And Goldcorp/Glamis (the pairing of GG and GLG that Rob McEwen is screaming mad about) was up over +4.3 pct; Kinross was up over +5.1 pct; and Barrick was up +4.9 pct.

But Goldfields was down, and Newmont dropped a lot (-2.4 pct) this week.

Time to study the companies and wait for the good ones to come to you.

---

To watch the moves in precious metal miners, you will have to monitor the individual stock charts, preferably in real-time, as follows:

NEM ABX AU GFI GG HMY GLG KGC BVN
15-minute data
60-minute data
Daily data
Weekly data

MDG LIHRY AEM BGO IAG EGO PAAS GOLD CDE GRS
15-minute data
60-minute data
Daily data
Weekly data

CBJ SSRI RGLD SIL NG KRY HL TSE_HRG TSE_GUY TSE_AGI
15-minute data
60-minute data
Daily data
Weekly data

NXG GSS MNG DROOY MFN RNO RANGY MRB CLG GRZ
15-minute data
60-minute data
Daily data
Weekly data

Here are the key Silver miners and the SLV ETF:

SLV SIL CDE HL PAAS SSRI SLW WTZ MGN

15-minute data
60-minute data
Daily data
Weekly data

---

Here are the Weekly and Daily Data charts of the indexes:

Weekly U.S. Goldminers Index:

Weekly U.S. Goldminers Index:

Daily U.S. Goldminers Index:

The U.S. goldminer share trust ETF trades under the ticker symbol GDX.

Here are the U.S. Goldminer ETF (GDX) index Weekly, Daily and Hourly data charts:

GDX Weekly data:

GDX Daily data:

GDX Hourly data:

The Toronto Exchange-listed goldminer iUnits S&P/TSX Capped Gold Index ETF trades under the ticker symbol TSE:XGD.

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

XGD Weekly data:

XGD Daily data:

---

Forex:

The $USD had a good week, going up +0.94 pct to close at 85.97, thereby regaining all it lost the previous week.

The index is sitting in no-man's land right now, below the 200-day Moving Average and just above the 50-day MA.

Weekly U.S. Dollar Index:

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

The Euro (priced in USD) lost -0.87 pct W/W to close at 126.82, backing away from that psychologically important 130 level, which had been fast approaching. I think it will get there sometime soon " maybe not in leaps and bounds.

I still see a little strength in the $USD and a little weakness in precious metals ahead before any break-out to the upside in the Euro, and break-down in the $USD.

The British Pound, which had been the star again the prior week, moved down -1.61 pct this week to close at 187.08. The Pound has been a terrific trading vehicle for day traders.

Weekly Euro Dollar Index, priced in USD:

Daily Euro Dollar Index, priced in USD:

---

Weekly British Pound Index:

Daily British Pound Index:

---

Weekly Japanese Yen Index:

Daily Japanese Yen Index:

The Japanese Yen was crushed -1.36 pct W/W to close at 84.68, as the $USD gained strength.

Last week when the Yen was moving up in leaps and bounds I wrote: "I'm beginning to question how strong the Japanese economic recovery is though."

Ring the bell.

Well, new Prime Minister. Out with the old hair; in with the new.

No wonder the Yen took a haircut. I never had hair like the old PM even when I was just " well, I admit it " never! That man makes Donald Trump look like Ron Insana (ie, one of the CNBC "personalities" who tells the truth about his hair).

---

Weekly Canadian Dollar Index:

The Canadian Dollar was flat again this week. A week ago, it closed down -0.01 pct on the week, and this week, it was down -0.04 pct. Nothing and nothing adds up to nothing.

But the CAD did get creamed on Friday " even a smiling oil market didn't help.

Daily Canadian Dollar Index:

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International Equities:

The Japanese, U.K. and Australian equity markets have bounced back from early Summer.

These markets are now moving pretty much in sync with the U.S. equity market, which is not surprising to me given that the term "Wall Street" is really best called Humungous Bank & Broker, and that global media is now controlled by perhaps a couple dozen gnomes.

---

China (+0.81 pct) and India (+4.37 pct) made good moves on the week. But the big winner was the one market that had been getting creamed for quite some time: Russia.

Russia (TRF), which had been down -7.13 pct a week earlier, was up this week +8.57 pct. I'm left wondering if there was any window dressing with the salad.

Table 13: International equities perspective

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
TRF	67.91	-0.34	-0.50%	8.57%	0.83%	-4.00%	25.76%	-0.57%	-6.07%	22.49%
EWZ	38.47	-0.15	-0.39%	6.39%	0.58%	-1.79%	10.45%	-0.34%	-1.99%	15.01%
IFN	44.15	0.35	0.80%	4.37%	7.53%	11.21%	6.98%	-7.48%	-13.41%	12.06%
EWJ	13.54	-0.02	-0.15%	2.58%	0.97%	-1.24%	-2.94%	0.07%	-5.58%	9.28%
EWC	24.00	-0.18	-0.74%	2.43%	2.04%	-3.03%	6.90%	1.91%	1.61%	11.99%
QQQQ	40.65	-0.18	-0.44%	1.96%	1.35%	4.58%	-1.60%	4.34%	-3.03%	3.75%
SPY	133.58	-0.11	-0.08%	1.60%	1.23%	2.25%	5.43%	4.96%	2.73%	8.90%
IEV	96.59	-0.26	-0.27%	1.12%	1.94%	0.67%	15.72%	6.92%	9.17%	19.54%
EWU	21.89	-0.09	-0.41%	0.83%	0.92%	-0.82%	14.25%	4.89%	8.58%	14.67%
FXI	81.35	-0.22	-0.27%	0.81%	2.29%	2.68%	29.15%	5.38%	10.23%	26.03%

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Japanese equity market ETF: EWJ

The Japanese equity market ETF (EWJ, priced in USD), closed at 13.54, up +2.58 pct. The Wednesday open made somebody's bonus, I mean week.

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

EWJ Monthly data:

EWJ Weekly data:

EWJ Daily data:

EWJ Hourly data:

---

U.K. equity market ETF: EWU

EWU (priced in USD) was up +0.83 pct on the week. This one rocketed north at the open on Monday.

I believe that there will only ever be one fair market for the People and that is a 24-hour global market that shuts down only for three hours at the end of the NYC trading day, and for three hours prior to the Monday opening of Asia-Pacific markets, to permit global dissemination of corporate news releases.

Otherwise, Humungous Bank proprietary traders are going to feed off clients who cannot roll positions from market to market. To allow these firms to continue trading when the rest of us cannot is so patently unfair it is absurd.

This is a point I made many years ago " in 1997 in fact, in a formal hearing room to all the Canadian securities commission heads. Afterwards, the Instinet people came chasing me out in the hallway, flaming mad. Apparently they wanted their HB&B and hedge fund clients to have easy pickings forever.

In any event, it's HB&B that controls the casino, as we all know. Seldom does the casino owner take a hit like say an Amaranth.

Yes, we know who the hitter is and who the hittee is likely to be.

Some days, independent traders (like Brian Hunter, you, me, etc) feel like road kill.

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

EWU Monthly data:

EWU Weekly data:

EWU Daily data:

EWU Daily data:

EWU Hourly data:

---

Canadian equity market ETF: EWC

This week the EWC finally had a good one, gaining +2.43 pct to close at 24.00. It all started at 10:00am ET on Monday.

Do you think HB&B was ready?

Surprise, surprise, but with the Amaranth kill out of the way, it was time for HB&B to return the energy markets to normal. That may not have helped the Cdn $ too much, but it helped Cdn equities.

Yessiree; Suncor (SU) jumped +7.0 pct, EnCana +4.2 pct and Imperial Oil +2.5 pct, so all in all it was a good week for the Prime Minister's home province.

Soon to be ex-Prime Minister it pains me to say. I waited a long time for the Blues to get back into power and I see it all went to one man's head " a cowboy the President calls "Steve".

Well, actually two men. I forgot about Condi's friend.

Edit: This WIR was completed in its entirety Saturday at 6pm ET, but I decided to sleep on it because of a lengthy rant I went into at this point. After further consideration I removed the piece. Instead, I'll insert the link to the major front-page story in Saturday's Toronto Star and leave it there.

All I can say is read this stuff and weep.

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

EWC Monthly data:

EWC Weekly data:

EWC Daily data:

EWC Hourly data:

(Japan, Taiwan, Hong Kong, Singapore)

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

(Canada, Mexico, Brazil, Australia).

---

U.S. Equities:

Traders who are successful are those who nimbly follow the tape. The rest are the ones who "Buy, Hold and (most frequently) Lose".

---

The broad markets gained more strength this week. The charts indeed show a break-out. But unlike mid-July, I am not so inclined to suggest that rising prices might be the case for many weeks.

The main objective of the Bulls has been achieved by lower oil prices and lower bond yields. From this point, the sledding will get tougher as traders will be listening to corporate management guide forward.

If corporate earnings are going to continue growing at a double digit clip, then oil prices and bond yields will have to come down even more. But the problem in that scenario is that the only way possible is for a continued economic slowing, which would sooner or later impact on personal savings and consumption, and that will ultimately hit share prices.

This week the Nasdaq Composite lifted by +1.78 pct to 2258 despite a notable pullback on Friday amid the cheerleading from Financial Entertainment TV "personalities".

The S&P 500 (+1.60 pct) and the Dow 30 (+1.49 pct) also had solid growth weeks.

The one major index that showed any signs of cracking was the Russell Small Cap 2000. The Russell did gain +0.97 pct W/W to 725.59, but on Friday it fell -0.95 pct on the day, and did not look good.

But the one item you must have a look at is the hourly price charts for all four major U.S. indexes; in particular the last hour.

The last hour of the week, the month, the quarter, was a free fall. To me that's a sign that traders had ballooned their stocks during the week for portfolio window dressing. The selling at the very end of the week would be from nervous traders not interested in carrying that added risk over the weekend.

That's not to say they won't return next week to jump back on the horse, but it's a sign of nervousness nonetheless.

On Friday, I wrote about the high dividend-yielding Canadian royalty and income trusts. I'm usually not a big fan, but I think this is a reasonable place to be at a time that interest rates are soft and the economy is soft. Just select the financially strongest ones.

BTW, the same is true for the U.S. REIT market. There are some good ones that will protect your portfolio better than most equities over the next couple months I think.

---

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.

Table 14: Dow 30 List

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
GM	33.26	0.20	0.60%	8.62%	5.05%	13.98%	75.98%	21.21%	50.16%	8.37%
INTC	20.59	-0.20	-0.96%	7.97%	5.43%	5.37%	-19.48%	6.57%	3.88%	-15.89%
CAT	65.80	-0.79	-1.19%	4.83%	0.57%	-0.83%	13.84%	-11.56%	-10.68%	13.47%
HPQ	36.69	0.72	2.00%	4.50%	1.41%	0.36%	27.53%	14.55%	12.13%	26.78%
AXP	56.08	0.09	0.16%	3.64%	4.33%	6.74%	6.66%	4.06%	6.82%	-2.49%
XOM	67.10	-0.36	-0.53%	3.37%	3.79%	-0.84%	14.76%	7.58%	9.50%	3.55%
DIS	30.91	-0.02	-0.06%	2.76%	1.98%	4.25%	26.68%	3.45%	10.95%	29.01%
GE	35.30	-0.18	-0.51%	2.62%	1.29%	3.64%	-0.20%	6.10%	4.04%	4.90%
MSFT	27.33	-0.06	-0.22%	2.51%	1.83%	6.38%	1.83%	16.45%	1.15%	5.36%
MCD	39.12	-0.47	-1.19%	2.38%	3.68%	8.97%	16.71%	16.57%	13.06%	16.85%
WMT	49.32	-0.49	-0.98%	2.13%	2.28%	10.29%	6.68%	1.25%	2.64%	13.28%
BA	78.85	-0.43	-0.54%	2.07%	5.12%	5.27%	12.10%	-5.00%	-0.42%	17.20%
AA	28.04	0.15	0.54%	2.00%	-0.32%	-1.92%	-6.22%	-12.10%	-8.69%	14.68%
AIG	66.26	0.02	0.03%	1.86%	0.82%	3.82%	-4.83%	11.79%	0.12%	6.42%
MMM	74.42	-0.18	-0.24%	1.85%	0.38%	3.79%	-5.93%	-8.29%	-4.05%	1.69%
UTX	63.35	-0.31	-0.49%	1.69%	-1.95%	1.02%	12.06%	0.09%	8.64%	23.01%
HON	40.90	-0.47	-1.14%	1.64%	2.89%	5.63%	9.18%	2.35%	-3.24%	8.92%
KO	44.68	-0.27	-0.60%	1.57%	0.18%	-0.29%	9.24%	3.76%	5.98%	3.67%
JNJ	64.94	0.04	0.06%	1.53%	1.80%	0.43%	5.37%	8.43%	9.12%	1.87%
DD	42.84	-0.53	-1.22%	1.23%	1.40%	7.18%	-0.51%	3.15%	0.85%	10.96%
IBM	81.94	-0.05	-0.06%	0.90%	-1.21%	1.20%	-0.15%	5.61%	-1.43%	1.97%
HD	36.27	-0.43	-1.17%	0.86%	-2.55%	5.77%	-12.05%	-0.52%	-15.47%	-4.70%
PFE	28.36	0.06	0.21%	0.71%	1.14%	2.90%	19.26%	22.03%	12.36%	13.03%
C	49.67	-0.26	-0.52%	0.34%	0.98%	0.65%	0.77%	1.66%	4.28%	8.83%
JPM	46.96	-0.19	-0.40%	0.30%	0.02%	2.85%	16.84%	10.03%	12.67%	36.71%
PG	61.98	-0.28	-0.45%	0.28%	1.77%	0.13%	5.44%	8.76%	7.34%	6.60%
VZ	37.13	0.19	0.51%	0.08%	3.69%	5.54%	22.22%	11.50%	6.03%	14.14%
MRK	41.90	-0.16	-0.38%	-0.33%	1.95%	3.33%	27.94%	16.75%	17.04%	53.37%
T	32.56	0.19	0.59%	-1.03%	2.20%	4.59%	31.77%	17.55%	19.44%	37.27%
MO	76.55	-0.42	-0.55%	-7.01%	-7.93%	-8.36%	2.09%	3.60%	5.12%	3.94%

You can do this table yourself by entering the following string into the Summaries window at www.investertech.com and then clicking on the link for Performance.

AA AIG AXP BA C CAT DD DIS GE GM HD HON HPQ IBM INTC JNJ JPM KO MCD MMM MO MRK MSFT PFE PG T UTX VZ WMT XOM

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)

---

Dow 30 list:

Alcoa [GICS 15, Dow 30]
(AA: Yahoo Finance file)
(AA: StockChart chart)
(AA: Investertech chart)
(AA: ADVFN Financial Data)
(AA: ADVFN Financial Data)
(AA: Value Line Report Jul. 21: next one is due Oct. 20)

---

Altria Group Inc [GICS 30, Dow 30]
(MO: Yahoo Finance file)
(MO: StockChart chart)
(MO: Investertech chart)
(MO: ADVFN Financial Data)
(MO: ADVFN Financial Data)
(MO: Value Line Report Aug. 4: next one is due Nov. 3)

---

American International Group [GICS 40, Dow 30]
(AIG: Yahoo Finance file)
(AIG: StockChart chart)
(AIG: Investertech chart)
(AIG: ADVFN Financial Data)
(AIG: ADVFN Financial Data)
(AIG: Value Line Report Aug. 25: next one is due Nov. 24)

---

American Express [GICS 40, Dow 30]
(AXP: Yahoo Finance file)
(AXP: StockChart chart)
(AXP: Investertech chart)
(AXP: ADVFN Financial Data)(AXP: ADVFN Financial Data)
(AXP: Value Line Report Aug. 25: next one is due Nov. 24)

---

AT&T [GICS 50, Dow 30]
(T: Yahoo Finance file)
(T: StockChart chart)
(T: Investertech chart)
(T: ADVFN Financial Data)
(T: ADVFN Financial Data)
(T: Value Line Report Sep. 29: next one is due Dec. 29)

---

Boeing Co [GICS 20, Dow 30. Cara 100]
(BA: Yahoo Finance file)
(BA: StockChart chart)
(BA: Investertech chart)
(BA: ADVFN Financial Data)(BA: ADVFN Financial Data)
(BA: Value Line Report Sep. 22: next one is due Dec. 22)

---

Caterpillar [GICS 20, Dow 30]
(CAT: Yahoo Finance file)
(CAT: StockChart chart)
(CAT: Investertech chart)
(CAT: ADVFN Financial Data)(CAT: ADVFN Financial Data)
(CAT: Value Line Report Jul. 28: next one is due Oct. 27)

---

Citigroup [GICS 40, Dow 30, Cara 100]
(C: Yahoo Finance file)
(C: StockChart chart)
(C: Investertech chart)
(C: ADVFN Financial Data)(C: ADVFN Financial Data)
(C: Value Line Report Aug. 25: next one is due Nov. 24)

---

Coca Cola [GICS 30, Dow 30]
(KO: Yahoo Finance file)
(KO: StockChart chart)
(KO: Investertech chart)
(KO: ADVFN Financial Data)
(KO: ADVFN Financial Data)
(KO: Value Line Report Aug. 4: next one is due Nov. 3)

---

Disney [GICS 25, Dow 30, Cara 100]
(DIS: Yahoo Finance file)
(DIS: StockChart chart)
(DIS: Investertech chart)
(DIS: ADVFN Financial Data)(DIS: ADVFN Financial Data)
(DIS: Value Line Report May 19: next one is due Aug. 18)

---

Dupont [GICS 15, Dow 30]
(DD: Yahoo Finance file)
(DD: StockChart chart)
(DD: Investertech chart)
(DD: ADVFN Financial Data)(DD: ADVFN Financial Data)
(DD: Value Line Report Jul. 21: next one is due Oct. 20)

---

ExxonMobil [GICS 10, Dow 30, Cara 100]
(XOM: Yahoo Finance file)
(XOM: StockChart chart)
(XOM: Investertech chart)
(XOM: ADVFN Financial Data)
(XOM: ADVFN Financial Data)
(XOM: Value Line Report Sep. 15: next one is due Dec. 15)

---

General Electric [GICS 20, Dow 30, Cara 100]
(GE: Yahoo Finance file)
(GE: StockChart chart)
(GE: Investertech chart)
(GE: ADVFN Financial Data)(GE: ADVFN Financial Data)
(GE: Value Line Report Jul. 14: next one is due Oct. 13)

---

General Motors [GICS 25, Dow 30]
(GM: Yahoo Finance file)
(GM: StockChart chart)
(GM: Investertech chart)
(GM: ADVFN Financial Data)(GM: ADVFN Financial Data)
(GM: Value Line Report Sep. 1: next one is due Dec. 1)

---

Hewlett-Packard [GICS 45, Dow 30]
(HPQ: Yahoo Finance file)
(HPQ: StockChart chart)
(HPQ: Investertech chart)
(HPQ: ADVFN Financial Data)(HPQ: ADVFN Financial Data)
(HPQ: Value Line Report Jul. 14: next one is due Oct. 13)

---

Home Depot [GICS 25, Dow 30]
(HD: Yahoo Finance file)
(HD: StockChart chart)
(HD: Investertech chart)
(HD: ADVFN Financial Data) (HD: ADVFN Financial Data)
(HD: Value Line Report Jul. 7: next one is due Oct. 6)

---

Honeywell [GICS 20, Dow 30]
(HON: Yahoo Finance file)
(HON: StockChart chart)
(HON: Investertech chart)
(HON: ADVFN Financial Data)(HON: ADVFN Financial Data)
(HON: Value Line Report Jul. 28: next one is due Oct. 27)

---

IBM [GICS 45, Dow 30]
(IBM: Yahoo Finance file)
(IBM: StockChart chart)
(IBM: Investertech chart)
(IBM: ADVFN Financial Data)(IBM: ADVFN Financial Data)
(IBM: Value Line Report Jul. 14: next one is due Oct. 13)

---

Intel [GICS 45, Dow 30, Cara 100]
(INTC: Yahoo Finance file)
(INTC: StockChart chart)
(INTC: Investertech chart)
(INTC: ADVFN Financial Data)
(INTC: ADVFN Financial Data)
(INTC: Value Line Report Jul. 14: next one is due Oct. 13)

---

Johnson & Johnson [GICS 35, Dow 30, Cara 100]
(JNJ: Yahoo Finance file)
(JNJ: StockChart chart)
(JNJ: Investertech chart)
(JNJ: ADVFN Financial Data)
(JNJ: ADVFN Financial Data)
(JNJ: Value Line Report Sep. 1: next one is due Dec. 1)

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JP Morgan [GICS 40, Dow 30]
(JPM: Yahoo Finance file)
(JPM: StockChart chart)
(JPM: Investertech chart)
(JPM: ADVFN Financial Data)
(JPM: ADVFN Financial Data)
(JPM: Value Line Report Aug. 25: next one is due Nov. 24)

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McDonalds [GICS 30, Dow 30]
(MCD: Yahoo Finance file)
(MCD: StockChart chart)
(MCD: Investertech chart)
(MCD: ADVFN Financial Data)
(MCD: ADVFN Financial Data)
(MCD: Value Line Report Sep. 8: next one is due Dec. 8)

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3M Company [GICS 20, Dow 30, Cara 250 June 25-06]
(MMM: Yahoo Finance file)
(MMM: StockChart chart)
(MMM: Investertech chart)
(MMM: ADVFN Financial Data)
(MMM: ADVFN Financial Data)
(MMM: Value Line Report May 19: next one is due Aug. 18)

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Merck [GICS 35, Dow 30]
(MRK: Yahoo Finance file)
(MRK: StockChart chart)
(MRK: Investertech chart)
(MRK: ADVFN Financial Data)
(MRK: ADVFN Financial Data)
(MRK: Value Line Report Jul. 21: next one is due Oct. 20)

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Microsoft [GICS 45, Dow 30]
(MSFT: Yahoo Finance file)
(MSFT: StockChart chart)
(MSFT: Investertech chart)
(MSFT: ADVFN Financial Data)
(MSFT: ADVFN Financial Data)
(MSFT: Value Line Report Aug. 25: next one is due Nov. 24) >

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Pfizer [GICS 35, Dow 30]
(PFE: Yahoo Finance file)
(PFE: StockChart chart)
(PFE: Investertech chart)
(PFE: ADVFN Financial Data)
(PFE: ADVFN Financial Data)
(PFE: Value Line Report Jul. 21: next one is due Oct. 20)

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Procter & Gamble Co. [GICS 30, Dow 30, Cara 100]
(PG: Yahoo Finance file)
(PG: StockChart chart)
(PG: Investertech chart)
(PG: ADVFN Financial Data)
(PG: ADVFN Financial Data)
(PG: Value Line Report)

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United Technologies [GICS 20, Dow 30, Cara 100]
(UTX: Yahoo Finance file)
(UTX: StockChart chart)
(UTX: Investertech chart)
(UTX: ADVFN Financial Data)
(UTX: ADVFN Financial Data)
(UTX: Value Line Report Jul. 28: next one is due Oct. 27)

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Verizon [GICS 50, Dow 30]
(VZ: Yahoo Finance file)
(VZ: StockChart chart)
(VZ: Investertech chart)
(VZ: ADVFN Financial Data)
(VZ: ADVFN Financial Data)
(VZ: Value Line Report Sep. 29: next one is due Dec. 29)

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Wal-Mart [GICS 30, Dow 30, Cara 100]
(WMT: Yahoo Finance file)
(WMT: StockChart chart)
(WMT: Investertech chart)
(WMT: ADVFN Financial Data)
(WMT: ADVFN Financial Data)
(WMT: Value Line Report Aug. 11: next one is due Nov. 10)

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Wrap up:

Speaking earlier of George's Rose Garden, I thought I'd close with a beautiful photo. While it's not as pleasing as the one at the top " the one with all the princesses -- there is no better time than now to get real.

I am dedicating this Review to the 37 Canadian soldiers killed in Afghanistan, including ten this month.

Canada used to be respected for its quiet diplomacy and professional peace-keeping. Now, apparently, because of some redneck in Ottawa we're a warrior nation.

I never believed it possible before now for our government to order troops to war when no country has declared war upon us, without a vote of public support, without a budget approval. I don't know a single independent Canadian who believes this decision would win a national referendum " not by a mile.

There needs to be an emergency debate in the House. This slaughter cannot go on. Afghanistan today; my backyard tomorrow.

Sorry to get side-tracked but the issue is always the same. There is an elite Few who control the Many. The People are powerless.

Something has to be done.

I am not against having a strong military and weapon systems and if needed using them. I am against individuals making such decisions for a country.

It's kind of like Rob McEwen saying this week that he personally has 16 times more skin in the game at Goldcorp than all the officers and directors combined, hence he and the owners of 99.9 pct of the company's stock ought to have a say when the company is undergoing a material change.

Canada used to be a Peacekeeper; now it's a Warrior. Maybe 3 out of 30 million had any say in the matter.

There is an opposition party leadership race right now in Canada and today's headlines say that a man representing the voters of my riding (one of 308 in the country) is leading the campaign polls.

The man isn't really from my riding; he's a professor at Harvard and has lived full-time in the United States for the past 37 years.

He's not my representative " I have no representative and no say in the matter " this man is an American, a friend of the gnomes who are trying to be kingmaker, so he can represent their interests.

I'm tired of being a skeptic, but when does this nonsense end?

Yes, sadly, getting real these days isn't as much fun as it used to be.
Rain today; blue skies tomorrow.

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BCara@BillCara.com