It's not just today " I have written previously that it happens too much all the time because the story-telling sell-side have long ago seized control of capital markets and market regulation (ie, the self-regulatory organization or SRO).

Today it's just a matter of taking a problem to the extremes of having TV network anchors and reporters (so-called journalists) leaning into TV cameras overtly cheerleading the Bull side, eg, "Come on Dow; Come on Dow!"

We've gone off the rails and we know it. Decisions are now made by the Weight of the B.S.

There is a concept, popularized in equity markets by technical analyst Joe Granville, called Weight of the Evidence. As Joe used it, and I admit to using, you simply take your big picture analysis " where individual facts of importance might be pro or con " and add them up in order to come to a conclusion based on inference.

Placing higher weights on the more important factors, mathematicians or statisticians would refer to this as Bayesian analysis, but I'll keep it simple.

In my case, I have been saying that I am concerned that the market is in a late stage cycle top, based on my analysis of the U.S. economy and on certain market datapoints such as my discussion this week of the Value Line's comparison of PE ratios, dividend yields and appreciation potential today versus the market low of October 9 2002 and the previous market high on May 5 2006.

So I tell you I am continuing to monitor the market for (i) peaking RSI-7 on Monthly-Weekly-Daily price series data (ii) Moving Average crossovers, and (iii) Colin Twiggs support level violations.

Market analysis is not rocket science; it's just a study of the buy and sell decisions of the owners and managers of capital, people like you and me. These decisions can be analyzed. But traders seem to have fallen into the trap of weighing not the market but the media that is supposed to be reporting on the market.

In any case, I will try to stick to market analysis and objective reporting " and throw in a few stories to keep things light.

You will recall my words here: "Goldilocks was last seen running into the forest fleeing from the Three Bears named Oil, Gold and Housing. Traders mostly scoffed (well over 60 pct believe the bullish Goldilocks story), but this week the evidence started to mount."

With the Fed model now indicating that recession is more likely than not to happen in 2007, I will continue with my ‘Three Bears' theme, but I want to add a new slice to life in today's capital markets, which is a spectacle called El encierro or the Running of the Bulls.

In the Street, can you hear the shouts of "¡Ahí va! ¡Ahí va!" (There it goes, there it goes)?

Yes, the noise is getting louder as the Bulls get closer to the stadium, and to their ultimate demise.

One of the reasons is that the economic picture is continuing on a gloomy path. Clear headed analysts like John Mauldin and Nouriel Roubini present a case that, as I see it, is undeniable: The U.S. is headed for recession.

I started writing about this weakening economic situation in June when people thought I was nuts.But I could see the writing on the wall after the May 10 Fed meeting.What's been happening in Washington since has been a shameful attempt to pump a balloon that already popped.

Mauldin this week has written a straight-forward summary of the current economic picture. His conclusion (my paraphrasing): We may have gotten Rich in 2006, but for 2007, it's time for Recession.

I have also been encouraging my readers to listen to people like Nouriel Roubini, a common sense academic economist who writes a blog called rgemonitor.

This morning was actually my first visit to Nouriel Roubini's blog. Previously, I had quoted him from media sources. I was surprised to find that he too has intolerant readers to the degree that he made this statement:

---

PS: It is totally fine to disagree with my bearish economic outlook; but I would appreciate if commentators of this blog would stop rude personal insults and childish and vulgar comments that have zero substance and zero content and zero analysis. If you disagree - and intelligent people can respectfully disagree with me as much as they want - provide data, facts, analysis, discussion, articulate commentary and intelligent ideas, not stupid and infantile personal insults that are really pretty pathetic and idiotic. I have not censored any of these vulgar comments - 99% of which are cowardly anonymous - to expose the intellectual shallowness of those whose comparative advantage is not intelligent economic analysis but generating insults. And thanks to the many - both those who agree and who strongly disagree with me - who do provide intelligent commentary and analysis on this blog. I appreciate very much critique and discussion; I do not appreciate vulgar and childish personal attacks.

---

Amen. Well said, Nouriel.

In this week's Week #48 In Review, I plan to get into a discussion of why the $USD is crashing and how high might $GOLD go this cycle. I'll look at Kerkorian's decision to sell his entire stake in GM and how that likely caught the hedgies short. And I'll look at the reasons why the very important Japanese Nikkei Dow bounced off an important technical support level " this time.

Before I go visit an editor today (returning here tomorrow), I'd like to say that I thoroughly enjoyed watching an interview of Eliot Spitzer on Friday cutting the legs from under the HB&B anti-regulatory lobby that new Treasury Secretary Paulson had been welcoming to the White House.

New Congress; new rules; ‘Dead On Arrival' said Spitzer. He also referred to a so-called 'Blue-Ribbon Panel' as a bunch of Republican hacks led by a failed director of FEMA.

Interesting stuff that I hope to write about next week because the joke of the complaint by Mayor Bloomberg (ie, too many U.S. companies are heading off to London) is that the UK regulatory authorities are wondering why these dregs and rounders of American society have been laid on their doorstep.

Eliot may no longer be sheriff, but he continues to chalk them up for the People. Now I see he is going to champion NYC as the home of Private Equity and the M&A industry, which in the case of the latter has been falling on hard times, relatively speaking, as the business has been going more to Hong Kong, Shanghai, and London in recent years.

So now you know my mind-set, let's see what happened in global capital markets this week.

---

Global Market Summary

International Equities: Japan's Nikkei 225 rebounded strongly this week to 16,321, well above the important 15,500 intermediate support. ETF's for China (-2.1 pct), India (-4.2 pct) and Canada (-0.9 pct) were weak.

U.S. Equities : All four major market indexes (SP500 -0.3 pct; DJIA -0.7 pct; Nasdaq -1.9 pct; and Russell 2000 -1.4 pct) dropped on the week. The higher beta Nasdaq and small caps were particularly weak on Fri. Economic news was weak.

Dow 30 : There were 11 Dow stocks up, and 19 down. The Dow index stands at 12194 with a bullish target of 12500, but negative money flow continues to be concern.

U.S. Sector ETFs: There were 4 ETF's up and 6 down. XLE (+5.5 pct) was by far the strongest as XOM and CVX were up +6.7 pct and +6.2 pct respectively.

First segment: most influenced by global commodities, forex and capex spending
10: Energy (XLE): #1 (+5.5 pct); XLE broke out with $WTIC up +7.1 pct
15: Basic Materials (XLB): #7 (-1.0 pct); Econ news on Fri pulled down prices
20: Industrials (XLI): #8 (-1.6 pct); Widespread weakness
Second segment: most influenced by U.S. consumer spending and economic growth
25: Cons. Discretionary (XLY): #6 (-0.8 pct); Cons. spending concerns
30: Cons. Staples (XLP): #5 (-0.8 pct); Cons. spending concerns
35: Healthcare (IYH): #3 (+0.6 pct); Some big gains and big losses
Third segment: most influenced by U.S. interest rates and general economic health
40: Financial (XLF): #9 (-1.9 pct); 1st indication of serious trouble in sector
45: Tech (SMH chips): #10 (-3.8 pct); Six big losing sessions
50: Telecom Services (IYZ): #4 (+0.5 pct); T (+4.1 pct) carried entire gain
55: Utilities (XLU): #2 (+1.4 pct); Bond holdings up and capital costs down

Bonds: Signalling recession because bonds jumped but interest-sensitive equities (CFC, FNM and FRE) dropped due to economic/housing market concerns. Yield curve inversion worst since I started blogging Apr 2004. Fed can't continue fighting inflation if economy to go into the tank or equities will soon collapse.

Commodities: $CRB was up +4.0 pct W/W to 321.23 with a huge week until Friday.

Oil & Gas: $WTIC futures up with a bullet +7.1 pct (+$4.19) to 63.43. U.S. economy is too fragile to take it. Consumer spending is being hurt.

Gold: $GOLD and $SILVER were up + 2.4 and +7.3 pct respectively, which was better than even previous week's big gains.

Goldminers: $XAU, GDX and XGD (TSX) had been up +6.3 pct, +6.7 pct and +5.5 pct respectively a week earlier. This week it was +4.3 pct, +4.2 pct and +7.0 pct. Traders were taking part profits on Friday.

Forex: A week earlier the $USD plunged -1.9 pct W/W to close at 83.68, and the Euro was up +2.1 pct to 130.88. This week, $USD dropped a further -1.5 pct and the Euro gained +1.8 pct to 82.47 and 133.28 respectively. These are very serious moves against the USD with perhaps a short-term cycle bottom possible in the 80-81 range.

---

Sector ETF:

Four of the ten sector ETF's I follow here were up this week, but only two by quite a bit, again. The Oils (XLE) and the Utilities (XLU) gained +5.5 pct and +1.4 pct W/W. Semiconductors (SMH) were down -3.8 pct W/W, including -1.5 pct on Friday.

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	60.72	0.21	0.35%	5.53%	7.22%	9.64%	15.22%	7.47%	9.01%	18.78%
XLU	36.72	-0.02	-0.05%	1.44%	2.00%	2.46%	14.75%	5.43%	14.21%	16.50%
IYH	66.02	0.02	0.03%	0.56%	0.43%	0.44%	3.76%	1.29%	7.63%	6.59%
IYZ	28.47	-0.05	-0.18%	0.53%	0.74%	-0.56%	23.94%	5.44%	12.09%	17.94%
XLP	25.53	-0.08	-0.31%	-0.78%	-1.24%	-0.23%	8.92%	-0.51%	6.33%	8.45%
XLY	37.63	-0.05	-0.13%	-0.84%	-1.44%	2.03%	14.03%	13.38%	10.55%	12.40%
XLB	34.72	-0.28	-0.80%	-1.03%	2.06%	3.98%	12.29%	7.86%	6.83%	14.78%
XLI	34.92	-0.20	-0.57%	-1.55%	-1.30%	2.74%	10.40%	7.51%	1.84%	9.78%
XLF	35.38	-0.29	-0.81%	-1.94%	-2.21%	0.71%	9.88%	5.55%	7.02%	10.42%
SMH	34.02	-0.53	-1.53%	-3.82%	-4.03%	2.93%	-10.28%	0.53%	-1.73%	-12.27%

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.

---

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)

---

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

XLE was up +5.53 pct W/W to close at 60.72, which made it by far the best ETF performer this week. The price of $WTIC (West Texas Intermediate Crude) gained +7.07 pct to $63.43. Huge week, led by XOM and CVX taking the ETF into a new trading range.

But the problem here is the crashing $USD. In spite of threatened OPEC cutbacks and a rapidly slowing U.S. and Canadian economy, there is still plenty of oil in the system.

Another potentially related factor is the growing political tension in the Middle East with the possibility of attacks against oil production and supply systems.

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
XOM	77.20	0.39	0.51%	6.66%	6.23%	8.44%	32.03%	13.36%	26.33%	30.08%
CVX	73.11	0.79	1.09%	6.20%	6.65%	7.85%	23.75%	12.77%	21.89%	24.53%
STO	27.91	0.01	0.04%	5.24%	4.57%	8.47%	15.67%	1.45%	-5.16%	23.50%
PBR	93.90	-0.25	-0.27%	3.76%	5.22%	7.96%	25.67%	3.55%	6.39%	33.84%
ECA	52.95	0.74	1.42%	3.16%	7.56%	13.41%	13.38%	-0.71%	3.04%	14.81%
SU	79.04	0.02	0.03%	3.12%	4.65%	5.53%	20.62%	0.88%	-3.34%	35.81%
IMO	37.68	0.11	0.29%	2.64%	3.83%	10.08%	-63.77%	-1.21%	1.26%	-59.58%
TOT	70.59	-0.87	-1.22%	0.06%	0.90%	4.95%	-45.73%	4.04%	7.80%	-45.05%
CEO	87.52	-1.33	-1.50%	-0.38%	2.43%	4.05%	26.49%	-0.11%	14.66%	26.20%

Exxon Mobil and Chevron Texaco rocketed strongly on the week up by +6.7 pct and +6.2 pct respectively. The strength of this gain ought to be a concern of traders who were thinking that the move might just be a small blip on the radar due to excessive selling of the USD.

The combined market cap of Exxon and Chevron is about $650 billion, and the price move, on higher than average volume, resulted in increased capitalization of about $40 billion in just two companies in 5 days. The move didn't even start until Tuesday!

---

Integrated Oil & Gas - Canada

Oil & Gas Exploration & Production -Canada

The Canadian oils EnCana, Suncor and Imperial Oil averaged a gain on the week of about +3.0 pct. If $WTIC manages to stay above 63 this week, I would expect the Cdn oils to have a very good week.

---

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

The Basic Materials ETF (XLB) lost -1.03 pct W/W, but most of the loss (-0.80 pct) was Friday after the ISM Manufacturing Index dropped below 50 and is the lowest since April 2003.

This was a killer number for chemical stocks like DuPont (-4.1 pct W/W) because it indicates the economy has hit the wall, and the chemicals make up a large part of XLB. Besides oil prices were way up (+7.1 pct) this week, and oil is a raw material cost to chemical manufacturers.

I like Dow (DOW), Lyondell (LYO) and DuPont (DD) companies " but not their stocks in slowing economic conditions, except possibly for a quick in and out trade (Bear market corrective phase), but not when oil prices are rocketing north.

The only time to load up on these stocks is when the economy is down and seemingly out. It always recovers, however, and these three companies are financially strong marketplace leaders that do well after the economy recovers.

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
PKX	79.26	0.40	0.51%	2.94%	8.89%	11.32%	57.73%	25.59%	20.64%	57.57%
RTP	214.65	0.06	0.03%	1.90%	4.24%	-4.42%	13.69%	4.69%	-1.24%	27.52%
RIO	27.58	-0.18	-0.65%	1.58%	5.23%	5.51%	28.28%	23.90%	17.31%	22.74%
AA	30.87	-0.30	-0.96%	0.52%	9.04%	8.32%	3.24%	6.41%	-5.22%	9.16%
PD	123.00	0.00	0.00%	0.51%	29.64%	25.68%	64.72%	35.54%	44.72%	72.61%
BHP	40.89	-0.54	-1.30%	0.37%	2.00%	-4.46%	16.83%	-4.17%	-3.95%	25.12%
GGB	15.56	-0.19	-1.21%	0.00%	3.60%	5.63%	-10.63%	2.98%	6.58%	1.37%
NUE	58.64	-1.21	-2.02%	-0.32%	6.25%	2.12%	69.09%	18.04%	9.85%	70.61%
N	74.83	-0.39	-0.52%	-1.67%	-1.18%	-1.36%	72.94%	-3.23%	13.22%	70.34%
ACH	19.92	0.00	0.00%	-2.06%	3.97%	12.61%	-74.91%	-71.78%	-75.77%	-72.43%

We're going through a concentration phase in the metals mining industry, which usually means that stock prices are very high, and Net Asset Values are being over-promoted by management eager to stretch the ore reserve numbers.

I once was removed from a Coopers & Lybrand audit of a scrap steel yard when I brought my Polaroid camera to take photographs for the audit file. The client called the audit partner to call off his attack dog. I figured all I was doing was getting to the truth. Imagine; this was above-ground metal piles, and they wanted to stretch the inventory number (which builds assets and profit figures).

What would they have done to the auditors if the assets were in situ (ie, underground and basically nothing more than estimates)? I suppose we could have relied on their news releases. (LOL)

Trust me; I've seen a lot. I am highly sceptical of the ore reserves being advanced by most of these companies.

---

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

The Industrials and Transport sector ETF (XLI), aka capital goods producers, was up 10 cents W/W to 35.47.

I still follow the work of Australian technical analyst Colin Twiggs. As I say, "Clearly the Transports kicked into high gear after oil prices started to fall, but isn't that just a reaction to lower costs (which might be temporary) rather than a reflection of the Transports growing on the back of a strengthening economy?"

I'm interested to see if the Dow Transports Average (DJT) can move to a higher level, which technicians would say is a confirmation of a long-term Bull market. It may or may not happen, but I think the odds are growing that there will be a technical chart failure.

I have been saying that for several weeks. This week the Twiggs chart shows the index at 4707 headed south to test intermediate support at 4600. This is the first line in the sand to the Dow Jones Theory analysts. But 4150 is the major support line. Below that and traders will be headed for the exits.

This week, the economic news out of the U.S. turned decidedly weaker, especially as it relates to commercial and industrial transport. We have to watch this situation closely as there has to be a rationale for supporting high PE's in the transport sub-sector for the equity market to move higher, which I fail to see.

---

The Dow Transports Average ETF is IYT. That's a chart you have to watch.

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
TYC	30.19	-0.10	-0.33%	0.13%	-0.46%	2.90%	1.86%	14.44%	8.83%	2.97%
HON	42.81	-0.17	-0.40%	0.12%	-1.18%	2.25%	14.28%	10.42%	3.13%	14.90%
BA	89.55	1.02	1.15%	-0.25%	0.95%	13.07%	27.31%	18.72%	7.07%	28.53%
GE	35.28	0.00	0.00%	-1.15%	-1.89%	1.64%	-0.25%	3.34%	2.11%	-1.31%
MMM	79.98	-1.48	-1.82%	-1.44%	-0.39%	1.39%	1.10%	11.52%	-5.36%	0.90%
CBE	91.15	-0.29	-0.32%	-2.25%	-2.51%	2.73%	23.38%	8.91%	2.42%	21.65%
CAT	61.19	-0.84	-1.35%	-2.67%	-0.29%	1.04%	5.87%	-9.04%	-16.51%	3.71%
UTX	63.86	-0.67	-1.04%	-3.23%	-4.34%	-0.73%	12.97%	0.95%	1.04%	17.78%
ERJ	40.68	-0.96	-2.31%	-4.17%	-4.75%	0.47%	3.62%	3.04%	17.37%	6.49%

United Technologies, 3M, Caterpillar and GE stocks were all trounced this week. .

As to the final couple minutes trading, there was no reason I could see that caused the high close. If you think you know the answer, please let us have it.

Pro traders who are short don't wait until 3:55pm to cover shorts or flatten their books for the weekend. Gap trades at the close like this have to be explained by the NYSE or else the markets lose credibility.

---

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

The Consumer Discretionary sector ETF (XLY) was down -0.84 pct W/W to close at 37.63.

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
TM	120.00	-0.05	-0.04%	1.17%	-2.10%	1.48%	12.31%	10.62%	10.46%	21.51%
NKE	97.60	-1.35	-1.36%	0.90%	2.49%	5.17%	13.55%	20.29%	19.87%	14.06%
DIS	33.09	0.04	0.12%	0.55%	0.09%	4.38%	35.61%	10.71%	8.07%	32.57%
WHR	84.65	-0.65	-0.76%	-1.28%	-4.17%	-1.28%	2.40%	3.79%	-6.20%	-0.24%
BC	31.65	-0.72	-2.22%	-3.36%	-2.50%	2.06%	-22.46%	8.39%	-12.47%	-24.64%
SBUX	35.09	-0.20	-0.57%	-3.36%	-11.14%	-5.98%	13.67%	10.48%	-3.09%	12.61%
JCP	76.33	-1.01	-1.31%	-5.54%	-6.49%	-0.78%	35.22%	19.17%	17.81%	39.11%
EBAY	31.36	-1.01	-3.12%	-6.00%	-5.85%	-3.60%	-29.46%	11.40%	-5.20%	-30.25%
CCL	47.09	-1.90	-3.88%	-6.77%	-5.63%	-2.28%	-13.71%	12.04%	17.40%	-15.09%

The previous week, Starbucks (SBUX) spilled -8.1 pct. This week it was Carnival Cruise (CCL) (-6.8 pct) and Ebay (EBAY) (-6.0 pct) that didn't measure up.

There are some on Wall Street who say that employee wage growth is a serious problem and that unemployment rates are the lowest in many years, which can be answered with the expression: "statistics and liars" " particularly since consumer spending and saving rates in the U.S. are at deplorable levels.

---

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

The Consumer Staples sector ETF (XLP) lost -0.78 pct to close at 25.53.

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
BUD	47.63	0.12	0.25%	2.92%	1.19%	0.87%	9.07%	-3.68%	3.57%	9.22%
DEO	77.65	0.36	0.47%	1.30%	2.62%	4.24%	30.37%	7.55%	16.17%	31.17%
MO	84.00	-0.21	-0.25%	0.30%	0.51%	3.24%	12.03%	0.23%	16.01%	15.07%
PEP	61.96	-0.01	-0.02%	-0.61%	0.26%	-1.98%	3.68%	-5.27%	1.41%	3.51%
KO	46.57	-0.26	-0.56%	-0.75%	-1.21%	-0.30%	13.86%	3.33%	6.03%	8.71%
WAG	40.27	-0.22	-0.54%	-0.96%	-5.74%	-4.60%	-11.28%	-19.22%	-0.81%	-12.67%
PG	62.69	-0.10	-0.16%	-1.32%	-1.31%	-0.92%	6.65%	1.26%	15.07%	8.76%
ABV	46.00	-0.11	-0.24%	-1.33%	-2.89%	4.47%	19.36%	0.22%	7.45%	14.20%
WFMI	48.08	-0.72	-1.48%	-2.22%	-2.79%	-20.03%	-37.64%	-10.20%	-27.15%	-36.47%
WMT	45.87	-0.23	-0.50%	-4.24%	-4.26%	-5.01%	-0.78%	0.92%	-5.21%	-4.50%

Some of the most stable of staples had a tough week on Friday. Take KO, for example, or MO. Coca Cola shares were down -0.75 pct W/W, but -0.56 pct on Friday. Altria shares were up +0.30 pct W/W, but got hit -0.25 pct on Friday. Whole Foods Markets (WFMI) was down -2.22 pct W/W, including -1.48 pct on Friday.

Ah, lots of parties (yippee!), but too few shoppers at Wal-Mart. :-(

Actually that was a week ago in reference to Thanksgiving. But this week must have been a hangover because WMT dropped a further -4.24 pct. I guess Crude Oil going up $4.19 a barrel scared a few shoppers. The price at my fuel pump went up about +10 pct this week. Yikes.

What does that translate to in annualized CPI growth, anyway?

I guess, not being a core number, my fuel costs don't count. But, they amount to a lot. :-)

---

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

The IYH healthcare ETF gained 37 cents (+0.56 pct W/W) to close Friday at 66.02. The whole loss and then some was Friday. Cramer is telling everybody that there is a Bull market in Healthcare. Well IYH is up 9 cents in two weeks.

It's also up 9 cents in 4 weeks, but who's counting?

Obviously not Cramer. I guess he likes to talk about millions and billions and trillions.

Nine cents in 4 weeks and counting; waiting; for Cramer's Bull market in healthcare.

But I guess Cramer is just part of the entertainment at CNBC. It's Bartiromo, Pisani et al who are the journalists and reporters. (LOL)

Up +3.76 pct YTD and we're into December already. That's one heck of a Bull market Jimmy has going there. Anyway, Cramer has sold more books this year than Pfizer has pills, so guess who's laughing.

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
UNH	48.83	-0.25	-0.51%	4.54%	2.54%	0.43%	-20.90%	-5.73%	6.80%	-20.56%
GSK	53.73	0.60	1.13%	4.03%	3.39%	-0.37%	5.44%	-5.34%	-4.02%	6.46%
PFE	27.86	0.37	1.35%	3.61%	4.11%	4.38%	17.16%	-0.36%	16.57%	30.31%
DNA	82.71	0.96	1.17%	2.63%	2.47%	1.48%	-12.01%	0.02%	0.12%	-15.27%
BMY	24.84	0.01	0.04%	1.51%	0.73%	1.51%	6.88%	8.24%	-1.23%	14.84%
BMET	37.92	0.11	0.29%	0.34%	-1.74%	-1.10%	2.82%	14.35%	5.95%	3.27%
JNJ	65.97	0.06	0.09%	0.18%	-0.84%	-2.84%	7.04%	1.93%	8.77%	6.96%
AET	41.34	0.03	0.07%	-0.29%	-0.19%	0.02%	-12.10%	12.37%	3.07%	-12.95%
NVS	57.83	-0.58	-0.99%	-1.55%	-0.67%	-5.07%	8.15%	0.85%	3.94%	8.72%
AMGN	69.32	-1.68	-2.37%	-4.43%	-4.31%	-7.94%	-13.74%	1.36%	0.77%	-15.09%

United Health up +4.5 pct and Amgen down -4.4 pct this week, and lots in between.

I see Glaxo jumped +4.03 pct on the week, which takes it to -0.37 pct over 4 weeks and -4.02 pct over 6 months. Bull market; I don't think so. With the great week (+4.03 pct), GSK is up now +5.44 pct YTD.

---

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

The Financials ETF (XLF) lost -1.94 pct W/W to close at 35.38. That's the worst loss since the week of July 15 " and on a week where bonds were so strong. Imagine!

---

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
CSR	59.15	-0.11	-0.19%	2.76%	6.25%	7.66%	10.87%	15.73%	-1.00%	40.13%
HBC	92.74	-0.26	-0.28%	-1.32%	-1.75%	-4.21%	13.54%	1.80%	6.10%	14.21%
DB	128.94	-0.42	-0.32%	-1.65%	1.43%	4.19%	29.64%	12.15%	10.55%	29.88%
C	49.38	-0.21	-0.42%	-1.85%	-2.53%	-0.72%	0.18%	0.02%	-0.90%	1.08%
JPM	46.01	-0.27	-0.58%	-2.67%	-3.85%	-1.90%	14.48%	0.61%	5.58%	19.29%
UBS	59.47	-0.75	-1.25%	-2.91%	-2.72%	-0.44%	20.51%	3.79%	3.44%	25.04%
GS	194.50	-0.30	-0.15%	-3.52%	-1.13%	3.79%	50.93%	30.41%	26.67%	49.29%
LEH	73.35	-0.32	-0.43%	-4.22%	-3.40%	-3.49%	12.95%	15.42%	8.63%	15.99%
MS	75.27	-0.89	-1.17%	-4.66%	-4.33%	1.50%	28.78%	12.63%	24.25%	0.00%
MER	86.78	-0.65	-0.74%	-6.27%	-4.72%	-0.23%	26.76%	17.60%	19.53%	28.16%

There were some serious losses in this sector this week. Fighting over bonuses are we?

Merrill Lynch down -6.27 pct. Morgan Stanley down -4.66 pct. Lehman Brothers down -4.22 pct. Goldman Sachs down -3.52 pct.

Are these people so unhappy that Spitzer has moved from the Attorney General's Office to the Governor's House in Albany?

---

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

The semi-conductor ETF (SMH) dropped -3.82 pct W/W to 34.02. The chips dipped big time. I guess Cramer couldn't very well say there is a Bull market in chips.

What might be happening here is that the July 21 Rally could have run out of steam. Do you think? Could we possibly have a steam engine without hot air?

I was told by somebody there is always a Bull market in semiconductors, somewhere in the world. (LOL)

---

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
CTSH	79.82	-1.74	-2.13%	0.09%	-0.52%	6.40%	57.47%	14.45%	28.64%	60.44%
CSCO	26.62	-0.26	-0.97%	-0.82%	-1.95%	10.69%	52.55%	19.53%	29.85%	50.48%
INFY	52.99	-0.54	-1.01%	-1.06%	-5.86%	2.85%	31.75%	18.02%	48.76%	43.96%
ADSK	40.85	-0.33	-0.80%	-1.76%	10.41%	13.41%	-4.44%	20.18%	8.76%	-2.58%
SAP	51.40	-0.82	-1.57%	-2.10%	-0.71%	4.68%	11.86%	7.96%	-4.07%	13.07%
INTC	20.86	-0.49	-2.30%	-3.38%	-6.58%	0.87%	-18.42%	4.93%	15.63%	-23.25%
QCOM	36.26	-0.33	-0.90%	-3.51%	-4.07%	-0.33%	-17.59%	-5.45%	-22.93%	-20.48%
ORCL	18.78	-0.25	-1.31%	-4.18%	-1.68%	2.68%	49.05%	21.16%	32.07%	46.03%
ADBE	39.19	-0.94	-2.34%	-5.66%	-6.36%	4.06%	1.74%	21.22%	36.46%	15.67%
SNDK	44.57	0.17	0.38%	-6.72%	-4.54%	-4.70%	-34.17%	-24.19%	-19.30%	-9.63%

Slowly (well not this week), SanDisk is coming to me. This week, SNDK came to me quickly (-6.72 pct W/W to $44.57), but I said to myself: ""Dinna fire till ye can see the whites of their e' en . . . if ye dinna kill them they'll kill you."

You didn't know I have a grandfather from the Isle of Skye. A Dobson from the Clan Macleod.

When this thing's over, we take no prisoners.

---

Sector 50 (telecom: IYZ, VOX and IXP)

The U.S. telco sector ETF (IYZ) gained 15 cents (+0.53 pct W/W) to close at 28.47.

AT&T (T) had a very strong week, up +4.1 pct W/W, but Verizon (VZ) was a loser.

---

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

IYZ Monthly data:

IYZ Weekly data:

IYZ Daily data:

IYZ Hourly data:

---

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

The Utilities ETF (XLU) gained +1.44 pct to close at 36.72, which was a very strong week. Maybe the bond market helped, and the lower cost of capital? But a weaker economy, as we saw evidence of this week, should not be a driver of very high prices for utility stocks.

In any event, trader Bulls are really taking heart in the fact the Dow Jones Utility Average ($UTIL) hit an all-time high (458.57) on Friday morning. They have tripled since 1Q03.

The final five minutes of trading on Friday in the Dow Jones Utilities Average gives you confirmation that big money altered the real picture of what was happening in markets during the day.

Did the Utilities "rally" because the Fed had dropped rates? No. Was there exciting econ data published at 3:55pm? No. Did traders who were net short suddenly decide to go flat for the weekend? No. Did the gas and electric utility companies suddenly emerge from the beauty shop with a make-over? No. Did Private Equity decide at 3:55pm to take the whole public market private? No.

Something happened in the market at 3:55pm on Friday to send Utility stocks flying " just like all the rest. Interesting of course is that Dow Jones Theory people are pointing to the action of the Utilities as being confirmation of a Bull market. I'd suggest, however, they join us in the search to discover who and what is pushing this market higher in spurts at opportune times like 3:55pm on a Friday.

---

---

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

XLU Monthly data:

XLU Weekly data:

XLU Daily data:

XLU Hourly data:

---

Bonds:

So didn't bonds have an interesting week just after I'm saying: "(You) may want to be mindful of the Monthly bond price series Stochastics; The current prices are butting up against the very important (technically speaking) 20-Month MA, which is resistance, and the STO is extremely high and looking like a fishhook ready to form. That's gobbledygook for CAREFUL; RATES MAY RISE FROM HERE, TAKING BONDS (AND PROBABLY STOCKS) DOWN. Maybe not; but you have to be mindful of these possible trend and cycle reversal points."

Interesting that just after the Bond King at PIMCO suggests that the bond rally appears to be coming to an end and that volatility is expected to rise, the yields on the Treasuries simply collapse.

This week, U.S. Treasury yields dropped from -9 basis points (bp) for the 30-year T-Bond (4.63 to 4.54 pct) to a shocking -21 bp for the 2-year Note. This is head-spinning stuff.

The 3-month T-Bill yield moved down only -1 bp from 4.89 to 4.88 pct because, I suppose, traders are not yet ready to go to cash. Maybe the Fed's Bernanke has them believing that the Fed Rate (5.25) is not going to be lowered any time soon due to inflation worries? I don't know but all of us can see that when the spread between the T-Bills and the 2-year paper collapses from a negative -16 bp to a shockingly negative -36 bp in the space of a couple days, something is up.

The 10-year and 5-year yields dropped -11 bp and -16bp to 4.43 pct and 4.38 pct respectively, while that 2-year yield plunged -21 bp from 4.73 to 4.52 pct.

The yield curve inversion is not the only problem here. Yes, there was much negative economic news and now traders are clearly thinking the R word for 2007, but why would bonds get such a boost when Humungous Bank took such a hit (-1.94 pct this week, including -0.81 pct on Friday)?

Were Wall Street's own selling shares in their personal empires, and maybe borrowing against those mega-billion bonuses, just so they could join Mom & Pop in buying Utilities and Oils and Cramer's Healthcare on Friday; and any offer that popped onto a screen at 3:55pm?

And if rates are going to soon crash, why were gold, platinum and palladium (silver excepted) struggling on Friday? But, if they are going to go up, as PIMCO's Bill Gross was suggesting this week, why did Bonds decide to fly high?

And if all those foreign central bankers were offing the Dollar, causing it to crater big time, why were yields falling at the same time.

Do you think just possibly this is the machinations of our old friend Dino Kos? Has he morphed into the insane General Jack D. Ripper (aka Dr. Strangelove) in a quest to start a financial apocalypse before his successor William Dudley moves in from Goldman Sachs on January 1 to take over the buy and sell buttons at the world's biggest hedge fund?

I continue to say, I don't know. I'm like the rest of you, watching with amazement.

But this is what I think about the Fed's Bernanke. I think he's going to inject more funds into the system and at the same time try to keep the Fed rate at the 5.25 pct level for as long as he can. I'm presuming he wants to buy time to help the home-builders work down their inventory glut. He knows the construction industry is in good shape financially, if not operationally, and so they will get hung out to dry.

The bigger picture here, as the Fed sees it, is trying to stop creeping wage inflation, and that's a posture that bond traders like to see.

With money expansion, gold and oil and other commodities are going higher anyway, but as long as the Fed rate doesn't start falling, the rate of ascent of say gold prices is limited. If the Fed rate starts to plunge vis-Ã -vis the central bank rates in Europe/UK/Japan, the gold will zoom.

I don't think Bernanke is going to drop rates until the equity market starts its Bear descent. That's when the Fed will move. I was going to say ‘panic' but that's not an appropriate word. These people at the Fed, may take heat, but they are astute professionals. The mess they are dealing with is more to do with the policies of the Administration and the Congressional budget deficits.

In any case, I think we'll see a weaker bond market (ie, higher yields) in the days to come. The $USD descent has to be stabilized at the 80-81 level or else that brings in a whole new round of imported inflation because as long as Americans are alive and well (and out of prison), they are going to spend, spend, spend. It's the American way.

---

Interest rates and bond yields.

Weekly data charts:

Interactive Daily data charts:

Interactive Hourly data charts:

---

US Treasury Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
3 Month	4.88	4.88	4.89	4.92
6 Month	4.85	4.89	4.92	4.89
2 Year	4.52	4.61	4.73	4.64
3 Year	4.42	4.50	4.60	4.56
5 Year	4.38	4.44	4.54	4.51
10 Year	4.43	4.46	4.54	4.56
30 Year	4.54	4.56	4.63	4.68

Municipal Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	3.49	3.49	3.56	3.46
2yr AAA	3.49	3.46	3.58	3.47
2yr A	3.50	3.49	3.60	3.53
5yr AAA	3.52	3.52	3.59	3.53
5yr AA	3.53	3.53	3.62	3.54
5yr A	3.58	3.57	3.64	3.59
10yr AAA	3.60	3.60	3.77	3.65
10yr AA	3.58	3.59	3.83	3.63
10yr A	3.74	3.74	3.79	3.80
20yr AAA	4.08	4.02	4.24	4.03
20yr AA	4.06	4.03	4.35	3.98
20yr A	3.99	4.02	4.10	4.13

Corporate Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	4.85	4.93	5.04	5.02
2yr A	4.91	5.01	5.10	5.08
5yr AAA	4.96	5.02	5.15	5.11
5yr AA	4.91	4.98	5.08	5.08
5yr A	5.02	5.07	5.18	5.17
10yr AAA	5.35	5.42	5.54	5.55
10yr AA	5.20	5.23	5.30	5.33
10yr A	5.29	5.31	5.38	5.42
20yr AAA	5.70	5.73	5.78	5.77
20yr AA	5.92	5.92	5.99	5.94
20yr A	5.75	5.77	5.82	5.88

---

Interactive Chart of Interest rates and bond yields.

---

US Bond Funds -- Interactive 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:

---

Notes:

1. The Lehman Brothers US Aggregate Index covers the total fixed-rate, nonconvertible US investment-grade bond market, excluding municipals. It is market-cap weighted and includes over 6,500 issues. The Treasury components of this index are broken down into several sub-indexes including the 1-3 Year Treasury, 7-10 Year Treasury and 20+ Year Treasury Indexes.

2. The Lehman Brothers US Treasury Inflation Notes Index is not included in the Aggregate Index. The indexes rebalance monthly to help maintain maturity range targets.

---

US Bond Funds -- Interactive 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 -- Interactive 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 -- Interactive 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:

---

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
TIP	101.45	0.32	0.32%	1.10%	1.87%	1.36%	-1.54%	0.45%	2.25%	-0.44%
TLT	91.42	-0.11	-0.12%	0.88%	2.21%	2.04%	-0.39%	4.17%	9.21%	2.18%
IEF	83.94	-0.11	-0.13%	0.55%	1.39%	1.11%	0.05%	2.03%	4.57%	1.28%
AGG	100.86	-0.21	-0.21%	0.13%	0.80%	0.79%	0.22%	1.70%	3.42%	1.16%
SHY	80.31	-0.13	-0.16%	0.06%	0.32%	0.27%	-0.01%	0.32%	0.89%	0.26%
FRE	66.93	-0.23	-0.34%	-0.52%	-2.42%	-1.44%	2.50%	5.12%	10.34%	5.32%
FNM	56.83	-0.20	-0.35%	-0.98%	-3.78%	-2.72%	16.60%	8.93%	10.48%	17.59%
CFC	39.97	0.25	0.63%	-1.89%	-1.87%	3.63%	14.33%	18.15%	1.16%	14.79%

Consumer Finance -USA -- Interactive Weekly Data Charts

---

---

Consumer Finance -USA -- Interactive Daily Data Charts

---

---

Consumer Finance -USA -- Interactive Hourly Data Charts

---

Commodities:

The $CRB index gained +3.97 pct W/W to close at 321.23, keeping the current price above the 50-day Moving Average, but below the 200-d MA.

The 50-day MA is presently 307.24, and the more important 200-day MA is at 330.25.

This index first dropped because of falling Crude Oil prices in the Summer. This week, it had a major bounce back because $WTIC jumped +$4.19, but a moderating influence is the chemicals.

Interactive Chart of Weekly CRB Commodities Index:

Interactive Chart of Daily CRB Commodities Index:

Oil:

$WTIC had a huge move of +$4.21 to close at $63.43.

The new 50-Day Moving Average is 60.41, while the 200-Day MA is 67.48.

The Daily price charts show that Crude Oil is now well above the 50d MA and possibly headed to intersect the long-term 200-d MA (67.48).

How many traders in the house are prepared to call that one? I think the probabilities are minor unless (i) widespread war erupts in the Middle East, or (ii) the $USD falls below 80. I suppose an extreme winter in northern U.S. and Europe (which means all of Canada!!) could also do the trick.

Another possibility would be if the U.S. economy is truly not headed to hades in a hand basket (or whatever), but instead is going to soar in 2007to the greatest heights of Kudlow's imagination, which apparently is pretty far out.

I am playing this within the scenario that the current $USD weakness is going to stop in the 80-81 range, and the U.S. economy is going to go into recession in 2007, so that we'll see Crude Oil mostly trading in the 50-60 range for the next six months.

Interactive Chart of Weekly Crude Oil:

Interactive Chart of Daily Crude Oil:

---

Gold:

$GOLD gained $15.20 or +2.39 pct to $650.60. That means $GOLD is up $28.10 in two weeks. We've come a long way since I put my cajones on the railroad track and gave the readers so so many gold miner studies to review plus my recommendation that it was time to buy.

To set up my comments today, I did a search of my "Golds Under the microscope" studies, and here is the first one on Agnico-Eagle (AEM) ($43.44) back seven weeks ago (Oct 14) when it was $32.10. That +35.3 pct move cannot be called a fluke even by whiners like "Claire" because day after day " after the gold market was in the dumps " I gave the readers the names, and the insights and the research links to get that kind of portfolio move.

So if "Claire" can show me a personal portfolio that moved +35.3 pct in the past 7 weeks, I'll kiss his or her derriere. I'm not holding my breath waiting.

Besides, other than my own family, I don't kiss;

Yes, anybody can take shots. I suppose it's fun. But these are people who have never had the responsibility of managing Other People's Money " or possibly even their own " so if they are not here to learn something or engage in an open discussion then it's safe to say I'm going to ban you from the blog. We have zero interest in hearing from people like that.

For the record, check the date Oct 14 on this chart of Agnico-Eagle:

---

---

Now check the same date (Oct 14) for GLD:

---

---

Now do the same for SLV (Spot Silver):

---

---

Now check the list of "Under the Microscope" blogs I did on these gold and silver miners at that point:

From 1 to 10:

From 11 to 20:

From 21 to 30 (and beyond):

Now tell me who other than me has done all this in a free blog? I'm not holding my breath for an answer.

Today, the 50-day MA for $GOLD is 609.59 and the 200-day MA is at 612.02. When I started the "Under the Microscope" series, Week #41 (Oct 14), the 50-day MA for $GOLD was 605.37 and the 200-day MA was at 599.78. The current price that day was ($582.70) and the weekly low was just $569.30. Experts were calling for it to fall to 540, 500, 480, 460; but I started off the first article (Agnico-Eagle Mines under the microscope, Sat., Oct. 14, 2006, 7:38 AM) as such:

"I believe we are in a super-cycle for precious and base metals, and that a properly managed metals portfolio will be a successful strategy. As part of my theme that the U.S. is now in such a financial bind that the leaders (President, Secretaries of the Treasury and Commerce, and Fed Governor) are committed to a program of reflation, I am going to continue to recommend and write up the gold miners. For the balance of the month, I am going to focus on precious metal stocks, starting appropriately with the letter "A"."

So unlike the "Cheapshot Clandestine Claire", I've been out here in the ether trying to help people all over the world, and I'll rest on my track record. Enough said.

---

Interactive Chart of Weekly Gold EOD Continuous Contract Index:

Interactive Chart of Daily Gold EOD Continuous Contract Index:

Interactive chart of recent trading for the Gold Bullion index.

---

$SILVER had another great week, gaining +7.27 pct W/W (or 96 cents) to 14.19.

The 50-day MA $SILVER is now 12.27 and the 200-day MA is 11.82. So the current price (14.19) is WELL ABOVE both the 50/200-day MA.

Interestingly, $SILVER was the only one of the precious metal complex that had a winning day on Friday. Otherwise there was a wide round of profit-taking.

But in this case (ie, PM), profit-taking is not a code word for "sell-off" because the $USD was crashing on Friday as well (ie, normally quite a boost to PM), and the goldminer shares were coming off along with the broad market. No, Friday was legit profit-taking.

Interactive 60-minute data

Interactive Chart of Weekly Silver EOD Continuous Contract Index:

Interactive Chart of Daily Silver EOD Continuous Contract Index:

Interactive chart of the Silver Bullion index.

---

$PLAT managed a small gain of +0.20 pct W/W (+2.30) to 1157.40. All November, trading in Platinum was all over the board. Then on Friday (Dec 1), $PLAT dropped -1.92 pct on the day. This is a market for day trading speculators and industry professionals only.

The 50-Day MA for $PLAT is now 1135.61 and the 200-Day MA is 1164.81, so the current price (1157.40) is still above the 50-day MA, but is BELOW the 200-day MA.

I still don't know what's happening here other than chatter about a possible Platinum ETF. I don't wish to speculate on the reasons for the extreme volatility.

Interactive Chart of Weekly Platinum EOD Continuous Contract Index:

Interactive Chart of Daily Platinum EOD Continuous Contract Index:

Interactive chart of the Platinum metal index.

---

This week, $PALL gained +0.55 pct (+$1.82) to close Friday at 331.26.

The 50-day and 200-day Moving Averages for $PALL are 323.03 and 330.70 respectively, so $PALL (331.26) is above the 50-day MA, but just over the 200-day MA.

Interactive Chart of Weekly Palladium EOD Continuous Contract Index:

Interactive Chart of Daily Palladium EOD Continuous Contract Index:

Interactive chart of the Palladium metal index.

---

$COPPER gained +1.15 pct on the week to close at 317.20. It had been up +1.41 pct the prior week.

The 50-day MA is 331.54, and the 200-Day MA is 319.78, so $COPPER (317.20) is still technically bearish. However, both the Weekly and Daily charts for $COPPER have been looking better.

---

Interactive Chart of Weekly Copper EOD Continuous Contract Index:

Interactive Chart of Daily Copper EOD Continuous Contract Index:

Interactive chart of 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
GFI	19.03	-0.10	-0.52%	9.18%	13.48%	10.06%	-1.25%	-6.39%	-10.66%	21.83%
GG	30.66	-0.51	-1.64%	8.76%	16.58%	17.07%	26.69%	12.10%	1.83%	45.58%
GLG	45.07	1.09	2.48%	6.78%	16.97%	23.75%	51.50%	19.08%	11.56%	116.37%
AEM	43.44	-0.49	-1.12%	5.03%	16.59%	16.06%	97.10%	12.66%	29.32%	180.44%
ABX	31.20	-0.24	-0.76%	4.87%	9.63%	1.07%	8.26%	-6.67%	1.86%	15.21%
KGC	12.41	-0.12	-0.96%	4.73%	8.10%	-5.70%	25.48%	-13.28%	12.82%	59.10%
NEM	46.84	-0.07	-0.15%	2.83%	5.88%	2.03%	-18.03%	-8.53%	-9.35%	-0.91%
BVN	28.28	-0.26	-0.91%	1.73%	5.48%	5.52%	-4.33%	0.32%	6.52%	-4.46%
MDG	30.29	-0.51	-1.66%	1.10%	12.44%	20.20%	26.42%	1.88%	-3.50%	53.06%
LIHRY	40.75	0.34	0.84%	0.02%	-10.54%	-7.20%	17.50%	0.59%	-13.85%	70.64%

Table 12 shows that most of the big gold miner stocks were well up again this week.

---

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

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

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

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

Here are the key Silver miners and the SLV ETF:

SLV SIL CDE HL PAAS SSRI SLW MGN

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

---

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

Weekly U.S. Goldminers Index:

Interactive Chart of Weekly U.S. Goldminers Index:

I see that Cramer is really pushing hard on goldminer Yamana, which I wrote up October 26 at US$9.69/C$10.95). I like the company and in October had set a 12-month Price Target of US$13.50/C$15.00, but there are issues, pro and con.

Here's the current chart.

At today's price (US$12.85), you will note that in 5 weeks and two days, this recommendation was up +32.6 pct.

To those who demand more of me please understand this is just a free blog. I write when I have time and inclination, and I'm using end of day prices, and so forth. If you want more, be prepared to pay.

For the whole list of charts of the Weekly and Daily price series of the goldminers, there has been in many cases a very important break-out above the 200-day (40-week) MA and with their point & figure technical charts, but the short-term Bull run is a long and successful one from Oct 10 or so. You have to watch these moves by the day.

So, if the $USD continues to fall, it's quite probable that gold and silver miners will be enjoying a very good winter. A further 10 to 15 pct only will take the GDX through the record highs of May, and the potential from there is still considerable.

But, in the interim the trump card is still being held by Ben and Hank.

If they decide to bring down Fed rates sooner than later, then the $USD will probably continue its descent, possibly even below 80, thereby pushing precious metal prices higher. For now, however, the gold players have to be watching their stocks like a hawk because these indexes ($USD, GLD, GDX, etc) have had big runs " one way or the other " and could reverse at any time.

Obviously, my long-term (ie, 12-month) outlook remains very bullish, but I'd like to see some consolidation in the $USD trading price soon.

I think back to 1980 when gold and silver were going crazy to the upside. Volatility was extreme. Nobody knew when the next round of profit-taking would be the one to set off the great sell-off. We were all watching the quote machines closely. That's not the kind of trading I recommend for the average person.

In 1981 or 82, I remember managing the account (ie, with authority to do all trades) of a medical person while I was at DS Investment Management, getting a call from the owner of the account. He wanted me to move all funds back from the options sub-account into the mainstream account. I had tripled his capital inside a week and he was watching on a monitor in his office. He pleaded his case well: "I have to take care of patients and this thing you are doing is driving me nuts." I wasn't even talking to the man, but he knew the positions I had taken.

Here was a senior medical person who didn't have the emotional make-up to watch me pull the trigger. He learned a lot about himself that week. The market is not easy; it's not fun. It is work, and if you enjoy it like I do, you never want the work to stop.

But you always know that there will be bad times because everybody makes mistakes, and the more you trade the more mistakes you are going to make.

In my book I make mention of a trader I know who makes well over 100 trading mistakes a day " that's losses in case you missed the point. This particular individual, using his own wits and his own capital, completes on average 400 round trades a day, which is about 800 buys or sells a day. By my guess, he's got to be ringing up 150 to 200 or more losing trades each and every day " on his way to another winning performance.

Heck I had clients who couldn't take a single loss in their account without letting me know in no uncertain terms. It goes with the territory, so please don't think some wimp using a public library Internet terminal to complain about a bad call I made a year ago is anything more than a laugh to me. I just don't want the person insulting you " other most anything goes here.

Interactive Chart of 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:

Interactive Chart of XGD Weekly data:

Interactive Chart of XGD Daily data:

I want you to appreciate what I wrote last week:

---

A week ago I laid out my concerns and my decision:

"I have to admit there are items in the technical picture in addition to lower highs and lows -- things like RSI and STO and MACD " that concern me. I do understand that economic recession would pull down commodity prices (and I see the major Wall Street houses lowering their price estimates a bit), but the flip side is that recession in the U.S. will cause the Fed to lower rates faster than we'll see in Europe and Japan. That will weaken the USD (against the Euro and Yen) and longer term ought to be a boost to gold.

My concern is that I have the Stagflation notion all wrong, and that the U.S. economy will grow, permitting the Fed to even raise, which would see (i) a stronger USD, and (ii) real wealth being created more quickly, at a time that tightening monetary policy will put the squeeze on unallocated assets like gold or cash. Now that would worry me if I was deeply invested in gold, basing my strategy on USD hedging.

At certain times, these critical decisions have to be made " like it or not.

So here's my take: Euro to 132-136 (from today's 128.24), taking the $USD down and gold higher. Yes, if there is a broad market pullback, the baby (stocks linked to oil and gold) goes out with the bathwater " for a brief period at least. And if the recession does set in, then oil stocks might have a tough time coming back to former glory unless OPEC decide to march to the same drummer.

But, if the Euro drives north against the USD, then gold ought to be quite fine. Let's hear it for four-9's fine.

Just remember the game of gold, paper, scissors."

Well, this week, at least, it was four nines fine for gold and the goldminers. The $USD took a beating.

This week $USD took a bigger beating. The Euro is now trading at 133.28. My how time flies!

;Time and money!

---

Forex:

A week ago I wrote: "The $USD plunged -1.93 pct to 83.68. That's huge. I expect the U.S. authorities to try to halt the damage on Monday, but this will be interesting."

Well, this week the $USD plunged again, this time -1.45 pct, including -0.55 pct on Friday, to close at 82.47.

The issue now has become: ‘the faster it falls, the quicker the cycle will bottom and rebound". Should the 80-81 level be tested in short order, then, yes, I expect a rebound. But only until the next round of selling of USD reserves by foreign bankers who now understand that Forex is as much an asset class as stocks or bonds, and that reserve positions have to be managed, not just held in USD. Doing the latter is just an excuse to have the U.S. government continue on their deficit spending ways. And the lower the $USD is going to fall; there is something of a simple economic concept called elasticity of demand for the exports of those countries that comes into play.

Just ask Japanese exporters like Toyota.

So, the bigger picture is that the $USD will sell off until the U.S. Congress and the President get their act together and become more fiscally responsible. That could be a long time coming.

Yes, I'm a Dollar Bear and a Gold Bull these days. It wasn't always that way, however.

In any event, the 50-Day MA for the $USD is 85.56, and the 200-Day MA is now 86.44. So, at 82.47, the $USD is now so far below the 50-day and 200-day MA technical resistance, that Dollar Bear Forex traders have to become a little nervous. They know they are not always going to have it this good.

What they are really worried about is having too many friends. A bandwagon isn't like a hay ride you know.

Interactive Chart of Weekly U.S. Dollar Index:

Interactive Chart of Daily U.S. U.S. Dollar Index:

---

The Euro (priced in USD) gained a huge percentage (+1.83 pct W/W) again this week, including +0.62 pct on Friday alone, closing at 1333.28. That's about +3.1 pct in six (6) trading sessions and +4.0 pct in two weeks, which is a very noteworthy event.

The Pound gained +2.49 pct to close at 198.03 on Friday. And Friday, the Pound was up +0.73 pct on the day. The Pound is up +4.5 pct in two weeks.

The CAD dropped -0.85 pct W/W to close at 87.37. I think that Canada's Prime Minister's unnecessary ramblings about a province being a nation was harmful, but not the reason the Cdn Looney was weak this week. The Canadian 3Q07 GDP came in at well under +2 pct growth, and that sort of stunned a few people. That was the reaction in the market, despite higher oil and metal prices this week.

The JPY had a good week too. This week, the Yen was up +0.52 pct to 86.72. That's a two-week gain o +2.1 pct against the USD.

Interactive Chart of Weekly Euro Dollar Index, priced in USD:

Interactive Chart of Daily Euro Dollar Index, priced in USD:

---

Weekly British Pound Index:

Daily British Pound Index:

---

Weekly Japanese Yen Index:

Daily Japanese Yen Index:

---

Weekly Canadian Dollar Index:

Daily Canadian Dollar Index:

---

International Equities:

This week, there was a significant rebound in the Japanese equity market, but I see big weakness in India, China, Canada and elsewhere, where the economic growth picture is becoming somewhat blotchy. Russia, on the back of a strong energy market, had a good week.

Russia and China equity markets have been spectacular this year " each up over +50 pct YTD.

The difficulty of course is trading directly in those markets. There are closed end funds (or Exchange Traded Funds) like Templeton that are U.S. listed plus, of course, the ADR's of a select number of stocks. Most of the U.S. or U.K. listed Russian/Chinese companies are relatively solid.

A key is to watch the strength or weakness of the smaller stocks listed on the Russia Trading System (RTS) and the Shanghai/Shenzen/Hong Kong markets. At every trend reversal, these smaller caps tend to move with the greatest momentum.

At every Accumulation or Distribution Zone for the major market indexes I focus on those technical charts.

My (upcoming) book editor asked today why I do that. I replied that there are millions of technical traders around the world, and I "feel" their nervousness at seeing certain patterns or cross-overs of support/resistance lines.

As I continue to say, it is extremely important for traders to see these critical support levels because I "feel" that when they are violated on the downside, there is going to be a lot of pain in the average (bullish, long-oriented) portfolio.

As I have often said, "Traders can take a Bullish action with a Bearish attitude."

I also watch the international markets because they are a key to the confidence level of the big money traders. We don't trade in a vacuum and contrary to the musings of some professors, prices are not random.

As an example, when the proprietary trading desk of HB&B has to buy or sell 1 million shares of an IBM, a Billiton, or whatever, the squawk boxes are getting marching instructions at the speed of light to every equity market, to every major account in every geographical market. That trade is not a NYC deal, and when enough stock of a tech or a miner is moved, one way or the other, there is an immediate reaction in the share prices of other techs and miners " as I say, in every market.

So, if, as and when index levels fall through technical support in Tokyo, London, or Toronto, along with the U.S. equity markets, then you have to face some serious decisions: Hold or Sell.

Exacerbating a trader's angst is the fact that ETF's have become ubiquitous, not just in New York and Nashville, but in New Delhi and Nicosia. Maybe not as much, yet, but you get my point.

When you sell a mutual fund holding back to the Distributor, there is a time consuming process of working those orders through the system. But with ETF's, which not only can be sold, but they can be sold short, and sold short on down ticks, and even sold via buying inverse and double inverse ETF's in tax-sheltered accounts.

At no point in history has there been a possibility of an avalanche of sell orders hitting equity markets in real-time (ie, in less than a second after pushing the button). Yes, there may be some exchanges with so-called circuit-breakers, but not all.

So, we must be watching all the international markets " not just the ones in your own country.

And pretty soon even the Average Joe will be using a depository account with a prime broker in the same way that financial institutions do today. You will be able to Deliver Against Payment the executed sell orders you place anywhere in the world.

And when your local securities regulator says you can't do that because you lack the sophistication of those already mentioned financial institutions you'll be able to show your holdings in a legally structured offshore vehicle, with trades executed in China, Australia, Switzerland; and an account statement that beats the heck out of the performance of ; Amaranth, say.

So tell me, who is the professional?

I say, it is your capital; don't let anybody tell you it is illegal, improper, immoral or whatever, to manage that capital in any way that, above all, protects that capital and allows it to grow as fast as any other individual resident of your country.

As I see it.

But maybe you think it's not a fit and proper thing for the recent Canadian Prime Minister to be holding his trust accounts in Barbados, which keeps his tax liability down at 2.5 pct of income, or those wealthy persons from the Hamptons watching over their trust accounts in Cayman Islands or Bermuda that pay zero tax on income?

I do. Moreover, I think you all should be doing the same thing. What's good for the goose is good for the gander.

---

---

---

---

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
EWJ	13.83	0.02	0.14%	4.69%	2.22%	0.36%	-0.86%	0.00%	-1.64%	8.47%
TRF	79.26	2.06	2.67%	2.39%	5.68%	17.77%	46.78%	13.96%	7.92%	52.51%
EWU	23.52	-0.03	-0.13%	1.25%	1.25%	2.17%	22.76%	5.90%	12.43%	24.71%
IEV	103.52	-0.43	-0.41%	0.28%	0.72%	3.00%	24.02%	7.34%	13.25%	28.33%
SPY	140.22	-0.31	-0.22%	-0.09%	-0.11%	2.51%	10.67%	6.70%	8.93%	10.68%
EWZ	43.92	-0.44	-0.99%	-0.63%	1.50%	4.08%	26.10%	9.53%	14.08%	25.85%
EWC	25.63	-0.14	-0.54%	-0.93%	2.44%	3.77%	14.16%	2.64%	5.47%	19.49%
FXI	94.15	-1.10	-1.15%	-2.07%	1.35%	8.84%	49.47%	17.67%	27.25%	51.24%
QQQQ	43.49	-0.55	-1.25%	-2.60%	-1.87%	3.45%	5.28%	11.28%	9.44%	3.52%
IFN	47.54	0.29	0.61%	-4.21%	-4.10%	4.23%	15.19%	19.27%	-2.48%	19.75%

Japan's EWJ (a USD-denominated NYSE-traded ETF) gained +4.69 pct W/W to 13.83. Japan's Nikkei 225 and Topix indexes gained +3.7 pct and +4.3 pct respectively this week, which was a corrective bounce, quite different that what happened in any of the other major international markets.

With the goings-on in the $USD, the U.S. consumer spending issues, and the Bernanke/Paulson focus on China, I still feel the Japanese equity market is the major equity index you need to keep an eye on to try to figure things out.

As I have written previously: "Follow the Nikkei 225 index with a close eye on the Colin Twiggs charts; don't under-estimate the size and importance of the Japanese economy and its debt and equity markets. To North and South Americans and Europeans, out of sight should not mean out of mind. Asia Pacific is not all about China and India."

With this week's rally, the Twiggs warning (a week or two ago) of a possible intermediate Bear phase setting in with Japanese equities, seems to have considerably dissipated.

But, we still have to be vigilant.

---

Japanese equity market ETF: EWJ

The Japanese equity market ETF (EWJ, priced in USD), closed at 13.83, up +4.69 pct.

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

Interactive EWJ Monthly data:

Interactive EWJ Weekly data:

Interactive EWJ Daily data:

Interactive EWJ Hourly data:

---

U.K. equity market ETF: EWU

EWU (priced in USD) was up +1.25 pct on the week to 23.52.

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

Interactive EWU Monthly data:

Interactive EWU Weekly data:

Interactive EWU Daily data:

EWU Daily data:

Interactive EWU Hourly data:

---

Canadian equity market ETF: EWC

The EWC of Canada was down -0.93 pct to close at 25.63.

That is against the grain of higher oil and metal prices, which have rallied for two weeks, and which should be helping the Cdn Dollar.

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

Interactive EWC Monthly data:

Interactive EWC Weekly data:

Interactive EWC Daily data:

Interactive EWC Hourly data:

(Japan, Taiwan, Hong Kong, Singapore)

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

(Canada, Mexico, Brazil, Australia).

---

U.S. Equities:

All four major U.S. equity indexes were down this week. The S&P500 and DJIA were down a bit (-0.30 and -0.70 pct respectively) and the NASDAQ and Russell 2000 were down a bit more (-1.91 and -1.40 pct respectively). Despite a moon shot in the closing 90 minutes including a spectacle in the final five minutes, this was not a good week for the U.S. equity market Bulls.

---

The Cara mantra: Remember, we trade prices. Watch the tape. Watch the technical support. You have to do that in addition to watching the economic news and changes to the corporate fundamental and quantitative pictures. You have to put it all together, but at times when market trends might be in a stage of reversal, you really do have to look closer at the technical indicators and trading patterns.

There's not a lot I can say at this point. So much of the trading this week confused me. Normal relationships were not working well.

If you return to the ten sector scorecard, which I keep weekly, you'll see results that are all over the board.

I like to see the commodity price sensitive XLE-XLB-XLI group moving together with a certain measure of correlation, just like the consumer oriented XLY-XLP-IYH group, and the interest rate-economic sensitives XLF-SMH-IYZ-XLU moving rather closely. Not perfect correlation " that never happens " but with some measure of consistency.

This week the performance of the first group was 1-7-8 and the second group 6-5-3 and the third group 9-10-4-2. A week earlier these groupings were much tighter.

---

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

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

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

Here is the Hourly data chart of the Interactive Chart of 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
XOM	77.20	0.39	0.51%	6.66%	6.23%	8.44%	32.03%	13.36%	26.33%	30.08%
T	34.00	0.09	0.27%	4.07%	4.94%	-0.06%	37.60%	7.56%	26.35%	34.39%
PFE	27.86	0.37	1.35%	3.61%	4.11%	4.38%	17.16%	-0.36%	16.57%	30.31%
HD	38.88	0.91	2.40%	3.08%	2.83%	4.52%	-5.72%	12.24%	0.86%	-6.40%
MRK	45.06	0.55	1.24%	1.99%	0.92%	-0.75%	37.59%	10.01%	33.31%	51.82%
DIS	33.09	0.04	0.12%	0.55%	0.09%	4.38%	35.61%	10.71%	8.07%	32.57%
AA	30.87	-0.30	-0.96%	0.52%	9.04%	8.32%	3.24%	6.41%	-5.22%	9.16%
MCD	42.08	0.11	0.26%	0.48%	0.98%	0.07%	25.54%	14.47%	24.94%	19.11%
MO	84.00	-0.21	-0.25%	0.30%	0.51%	3.24%	12.03%	0.23%	16.01%	15.07%
JNJ	65.97	0.06	0.09%	0.18%	-0.84%	-2.84%	7.04%	1.93%	8.77%	6.96%
HON	42.81	-0.17	-0.40%	0.12%	-1.18%	2.25%	14.28%	10.42%	3.13%	14.90%
BA	89.55	1.02	1.15%	-0.25%	0.95%	13.07%	27.31%	18.72%	7.07%	28.53%
HPQ	39.44	-0.02	-0.05%	-0.30%	-1.79%	2.20%	37.09%	7.97%	21.62%	33.42%
VZ	34.64	-0.30	-0.86%	-0.32%	-3.62%	-6.35%	14.02%	-2.61%	8.39%	7.78%
KO	46.57	-0.26	-0.56%	-0.75%	-1.21%	-0.30%	13.86%	3.33%	6.03%	8.71%
GE	35.28	0.00	0.00%	-1.15%	-1.89%	1.64%	-0.25%	3.34%	2.11%	-1.31%
PG	62.69	-0.10	-0.16%	-1.32%	-1.31%	-0.92%	6.65%	1.26%	15.07%	8.76%
MMM	79.98	-1.48	-1.82%	-1.44%	-0.39%	1.39%	1.10%	11.52%	-5.36%	0.90%
C	49.38	-0.21	-0.42%	-1.85%	-2.53%	-0.72%	0.18%	0.02%	-0.90%	1.08%
AIG	69.77	-0.55	-0.78%	-2.01%	-3.58%	4.63%	0.22%	8.79%	14.06%	2.89%
MSFT	29.10	-0.23	-0.78%	-2.22%	-1.26%	1.25%	8.42%	12.66%	27.52%	4.34%
IBM	91.25	-0.67	-0.73%	-2.25%	-2.38%	-0.47%	11.20%	12.09%	13.09%	2.29%
AXP	58.55	-0.17	-0.29%	-2.25%	-1.71%	1.90%	11.35%	11.42%	6.88%	12.62%
JPM	46.01	-0.27	-0.58%	-2.67%	-3.85%	-1.90%	14.48%	0.61%	5.58%	19.29%
CAT	61.19	-0.84	-1.35%	-2.67%	-0.29%	1.04%	5.87%	-9.04%	-16.51%	3.71%
UTX	63.86	-0.67	-1.04%	-3.23%	-4.34%	-0.73%	12.97%	0.95%	1.04%	17.78%
INTC	20.86	-0.49	-2.30%	-3.38%	-6.58%	0.87%	-18.42%	4.93%	15.63%	-23.25%
DD	46.45	-0.48	-1.02%	-4.09%	-2.48%	2.07%	7.87%	14.75%	8.38%	7.23%
WMT	45.87	-0.23	-0.50%	-4.24%	-4.26%	-5.01%	-0.78%	0.92%	-5.21%	-4.50%
GM	29.69	0.46	1.57%	-4.93%	-16.44%	-14.34%	57.09%	-1.92%	10.37%	31.31%

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)

---

This week, Value Line analyzed General Motors (GM) and Johnson & Johnson (JNJ). Over 1 and 4 weeks, these stocks are up/(down) (-4.93 pct) and (-14.34 pct) for GM and +0.18 pct and (-2.84 pct) for JNJ, respectively. Not very good, but if the names aren't Boeing (BA) +13.1 pct, Exxon (XOM) +8.4 pct or Alcoa (AA) +8.3 pct, or a very few others (HD, PFE and DIS), the performance hasn't been so hot.

---

General Motors [GICS 25, Dow 30]

(GM) Value Line conclusion Dec. 1: Bottom line recovery continues, but long-term share price appreciation potential is lackluster. Until somebody shows me how they will resolve their $70 billion under-funded pension liability or pay down their long-term debt of $244 billion, GM will remain off my radar screen. Is that permanent? No; I like some of their cars, which I believe will help them stem the market share losses to Toyota Motor, but the turnaround could take another 4 or 5 year stock cycle. Speculators are trading against experts who are armed with better info, including insider info, so I wouldn't advise it.

Some of those experts were probably caught out by Kirk Kerkorian who neatly skimmed about $100 million from Wall Street's GM table this year. He carefully staged his sales, and now the pros are left wondering if any other suitor can be rounded up. I doubt it, and I never believed that Kerkorian would be successful either, or that he didn't think he wouldn't make money with his short-term play for this company.

Despite the sharp-tongued reader who commented here recently, GM has been a speculation, and will be, until they put their long-term plan in place with solid financing. They need a solid economy to boost sales.

I just don't have any interest in rolling the dice.

---

---

---

Johnson & Johnson [GICS 35, Dow 30, Cara 100]

(JNJ) Value Line conclusion Dec. 1: Looking good for conservative accounts seeking annual returns over 3 to 5 years ranging from 7 pct to 12 pct. Thank you, but I'll wait to buy the stock cheaper. In a Bear market, JNJ will be a baby being tossed with the bathwater that includes GM.

---

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 Oct. 20: next one is due Jan. 19)

---

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 Nov. 3: next one is due Feb. 2)

---

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 Nov. 24: next one is due Feb. 23)

---

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 Nov. 24: next one is due Feb. 23)

---

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 Oct. 27: next one is due Jan. 26)

---

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 Nov. 24: next one is due Feb. 23)

---

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 Nov. 3: next one is due Feb. 2)

---

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 Nov 17: next one is due Feb. 16)

---

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 Oct. 20: next one is due Jan. 19)

---

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 Oct. 13: next one is due Jan. 12)

---

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 Dec. 1: next one is due Mar. 2)

---

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 Oct. 13: next one is due Jan. 12)

---

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 Oct. 6: next one is due Jan. 5)

---

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 Oct. 27: next one is due Jan. 26)

---

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 Oct. 13: next one is due Jan. 12)

---

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 Oct. 13: next one is due Jan. 12)

---

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 Dec. 1: next one is due Mar. 2)

---

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 Nov. 24: next one is due Feb. 23)

---

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)

---

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 Nov 17: next one is due Feb. 16)

---

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 Oct. 20: next one is due Jan. 19)

---

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 Nov. 24: next one is due Feb. 23)

---

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 Oct. 20: next one is due Jan. 19)

---

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 Oct. 6: next one is due Jan. 5)

---

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 Oct. 27: next one is due Jan. 26)

---

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)

---

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 Nov. 10: next one is due Feb. 9)

---

Wrap up:

When I get to the end of these WIR's, I have pretty much tired myself out. There is so much more to say, I know I haven't scratched the surface.

I don't have much time to read other blogs but this week I did take a peek at Nouriel Roubini's, as well as Trader Mike's and Barry Ritholtz's Big Picture. I am very impressed with them all. Moreover the executive editor of one of the world's major book publishers gave me a ringing endorsement of the Kirk Report. I responded that I think David Jackson has done a marvellous job with Seeking Alpha.

As I sit back and ponder the world of blogging within the realm of securities trading, I have to think that the Average Joe can now get plentiful alternative media that will serve to educate and inform to the point that armed with the appropriate trading technology and capital, the opportunities of global capital markets now sit on your desktop.

There is no reason now for there not to be literally millions of work-at-home independent traders earning a respectable living from the capital markets.

But I think that the greatest satisfaction for me in doing this blog has been learning about you and seeing how far up the curve you have gone to reach a point where as a minimum you can speak knowledgeably with a stock broker, investment manager or mutual fund salesperson. You don't have to be an expert to ask the right questions of these people. They too have a job to do, and part of it is to work with you, to explain their products and services, and to discover your needs and interests.

And if you decide to try this wealth management task on your own, they will understand, and the good ones will even stick around in case you have a need down the road.

It being 4:25pm and my wife and her sisters arriving at 5:10 from Ft. Lauderdale, I have some chores to do. My daughter will do the airport Meet & Greet as I don't care too much for the airport scene. Besides, this 90 minutes will also give me a chance to sit back and ponder my navel, looking south across Lake Ontario with a glass of Shiraz in my hand.

It's been a slice.

Have a good one.

BCara@BillCara.com