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Little by little the signs are noticeable that this party is almost over and the guests are inching their way to the exit. All that's left is to crown The Greatest Fool.

Money Flow indicators are showing technical divergence with rising prices in most (but not all) equity markets. Money flows out of markets when there is higher volume on down ticks and down days. I will continue to show the charts of this evolving situation because it is probably the writing on the wall.

Also, in this WIR, I am going to focus on the 14 words that the Fed changed in the FOMC Report on Tuesday. The picture of the Fed's concern over an under-performing economy is becoming clearer to economists like David Rosenberg (Merrill Lynch).

Rosenberg says "a bond rally led by the front end of the Treasury curve makes perfect sense to us. We believe (the Fed is) becoming more, not less, concerned over the housing downturn." You might wish to download Dec 12 Rosenberg commentary: "The Fed inches closer to neutral" or the Dec 14 Rosenberg's econ outlook for 2007.

While I agree with Rosenberg, I take a slightly different view. He says macro-economics will drive the Fed decision to lower rates (mostly affecting the short Treasuries), I say that the level of equity market indexes will drive the Fed to drop rates. You see, rates must come down to protect the ‘wealth effect' (via PE multiple expansion) and they will when stock prices collapse. But the U.S. economy is fairly robust, though slowing due to problems in a few industries like housing and autos), and, if it gets worse as I suspect, a recession might not occur until mid-year 2007. I expect a severe correction to equity market prices before then.

I expect the equity price correction simply because there was no reason, other than excess money chasing fewer stocks (via buy-backs), for the market value of stocks to grow so excessively since mid-July. By fundamental measures, the enterprise value of corporations has grown moderately during this period. So the price increases have not been supported by value increases, leading to an over-bought condition.

There are, presently, ten stocks of the Cara Global Best 100 Companies that currently have a time-weighted (M-W-D) RSI value of between 75 and 84. In alphabetical order these are: ABV, C, CVX, DB, DEO, DIS, PTR, RIO, TM and XOM.

These 10 are top-quality rated companies whose share prices have become extended on the upside, and, like the rest, will soon have those prices revert to the normal 50 level via a Bear phase that, through the bottom of the Bear cycle will take their detrended prices possibly as far below the 50 level as today they are above it.

On the economic front, personal spending data this week shows that 4Q06 spending in the U.S. is running at a +3.3 pct rate, up from +2.8 pct, which is helping the economy grow at an increase of +2.1 pct (up from +1.7 pct) and so you might wish to review the Dec 13 David Rosenberg commentary on surging Nov retail sales. New computer games (a one-off thing) helped the monthly sales of consumer electronics, but the sales at department stores and clothing stores was "dismal" according to Rosenberg.

All in all, the housing industry picture is the one to continue focusing on. Despite reports to the contrary, it's getting worse (prices have to drop in order to clear a glut of inventory), and will soon start to lay its problems onto the commercial lending system.

That may cause the Fed to ease sooner than later as David Rosenberg opines. And if that's the case, just who is the winner? Surely it will not be the middle class of the U.S.

Commercial bankers are tightening their grip on consumer lending practices as I showed recently in a Fed survey and report. The easing of the Fed will go to their owners at Humungous Bank & Broker for using your deposits to purchase Treasury debt and stocks of blue chip companies in order to keep the post-housing wealth effect alive and well in America.

Actually, it is the Greater Fool Theory that is alive and well in the capital markets today.

Apart from stock and bond prices, what has been happening to society in America was brought home to me this week while watching a CNN Lou Dobbs series special on War on the Middle Class. I admit to not watching more than one evening's production, and only 30 minutes at that, but what I saw and heard was every bit as chilling as the insights into America's social problems shown by CNN's Hurricane Katrina coverage.

I speak of the concerns on the faces and in the words of middle class Americans who have come into the work force with what used to be excellent jobs as firemen and nurses and the like. Their wages can no longer get these people above the poverty line. And I saw and heard well-dressed, well-educated retired folk in Florida who have given a lifetime of service to American society now in their sunset years struggling to meet the high cost of living due to massive increases in property taxes and home insurance, fuel costs and the like.

I saw desperation on the faces of these people " not just discontent.

Meanwhile Wall Street managing directors are pulling down holiday bonuses of $50 million a piece from a bonus pool that aggregates multiple tens of billions of dollars earned on the backs of all of these people. From the employers and past employers of these people, the list of corporate executives that are pulling down annual compensation packages of $50 million or more is getting beyond belief. The losing management teams in corporate takeover wars are walking away with $50 million personal settlements for doing goodness knows what. I have never seen anything like this.

So the rich and well-connected are getting theirs, and the Middle Class is sinking. Economic and social crime is worsening. Personal and government debt is ballooning. And on and on while the Administration and the Fed and too many (but not all) of Wall Street's talking heads are telling you that all is well in the U.S. economy and capital markets. I think not.

I have never seen anything like this in my lifetime, ie, people who live for today, traders who ignore capital and market risk, transference of wealth from the many to the few, transference of capital and jobs from America to its former enemies, and on and on.

I have come to the conclusion that a once proud America is dieing, but doesn't want to admit it, is too embarrassed to admit the reality. Today's America is a paper tiger that now acts mostly, not in the interests of its people, but in support of the cream of its society " the VIP's in Washington, New York and in corporate America.

I am saying this today because part of the issue, as I see it, is that the U.S. equity market is being propped up, mostly by private equity and share buy-backs, for appearances sake and for reasons of personal greed on the part of movers and shakers. But when those VIP's decide the burden of phoniness is too great to bear, which will be when they feel they cannot skim more cream from the system, the greed cycle will be over.

I believe that once the selling starts in the U.S. equity market, the result will look like a combination of 2001-2 and October 1987. It's coming.

Will the rest of the world suffer during this "transition"? Well, financial greed is not just an American phenomenon, but there are reasons to believe the problems are not as bad elsewhere. Besides, Britain and Western Europe seem to be riding the rapid expansion of the economies of the Middle East and Eastern Europe; India with close to 15 percent of the world's population is certainly alive and growing as it takes on service sector jobs for the world; Japan, Korea, Australia, Singapore and Hong Kong seem to be benefiting from the unparalleled growth of China; and Brazil is capitalizing on its strength of low cost manufacturing and rich natural resources, which are in demand from markets like China.

So after the Bear works though its cycle in equity markets, I think those are the places to be invested. In some international markets, the growth of wealth (both market capitalization and enterprise value) is phenomenal and will only be slowed or put in check by much higher interest rates, which I don't see happening on account of America's need to drop their rates in 2007 to stem the bleeding.

While America is causing its own problems, there is a notion it can get by with finger pointing at China, Russia, North Korea, Iran, Afghan and Iraqi insurgents, the Muslim world generally, Pakistan, Cuba, Venezuela; the list seems endless.

As CNN's Lou Dobbs continues to point out, America's biggest problems are within its own borders.

More than ever today, I believe that the next great Bull market will be in hard money, ie, gold and silver and the platinum group. You see, America must, soon I'd say, come to the realization that the policies of its Administration over the past 20 years is tearing the heart out of its middle class, and these 200 million people need money to stay above the rising poverty line.

Moving that bar lower in America is going to cost trillions of USD. America has to print that money, ergo: precious metal prices are going much higher. There was a very significant pull-back in the PM markets on Friday, and the selling may continue for a few days. But, as I see it, this is short-term intervention by central bankers who are trying to keep their ship from sinking. Ultimately, and I believe this will happen in 2007-2008, the $USD will sink to the mid-70's and $GOLD will be trading well above $800.

I will not change this view until after the G-20 nations agree to rebalance currencies within a new band. By then I believe $GOLD will be trading above $800.

With today's WIR intro being a bit of a downer after a surprisingly bullish week in the U.S. and most international equity markets, I suppose I will continue to be held in low regard by those VIPs and traders who stand behind the U.S. Administration, economy, Dollar, and capital markets at any cost.

But, as you know, I'm not going to stop telling traders my opinions of where the dangers and best opportunities lie. Sometimes TV and photo's tell the story best. I referred to Lou Dobbs here. In the wrap up, I will show photos of an amazing development in the Middle East, Dubai City.

With that out of the way, let's see how the week went.

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Global Market Summary

International Equities: Russia and China were very strong equity markets this week. But there are Money Flow indicators that are diverging from the positive price trends in some markets.

U.S. Equities : Three of the four major market indexes (SP500 +1.2 pct; DJIA +1.1 pct; and Nasdaq +0.8 pct) gained on the week. The Russell 2000 (+0.0) was flat. The FOMC report has a few economists thinking that maybe the economy is slowing rather quickly even though there is so much positive news being reported.

Dow 30 : It was a terrific week for the Bulls. There were 23 Dow stocks up and just 7 down. The Dow index stands at 12445 with a bullish target of 12500. However, negative money flow continues to be concern and technical resistance is being closely watched.

U.S. Sector ETFs: There were 7 ETF's up and 3 down. Telecom Services (IYZ) was the big winner.

First segment: most influenced by global commodities, forex and capex spending
10: Energy (XLE): #2 (+1.2 pct); $WTIC jumped; CVX and XOM leading
15: Basic Materials (XLB): #10 (-0.5 pct); From first to last W/W
20: Industrials (XLI): #9 (-0.3 pct); UTX & CAT hard landing
Second segment: most influenced by U.S. consumer spending and economic growth
25: Cons. Discretionary (XLY): #4 (+0.6 pct); Retail spending up
30: Cons. Staples (XLP): #8 (-0.0 pct); Friday was a downer
35: Healthcare (IYH): #6 (+0.3 pct); Friday recovered early loss
Third segment: most influenced by U.S. interest rates and general economic health
40: Financial (XLF): #3 (+1.1 pct); Traders sold on news
45: Tech (SMH chips): #7 (+0.2 pct); Friday recovered early loss
50: Telecom Service (IYZ): #1 (+2.0 pct); T (+2.0 pct), VZ (+3.3 pct)
55: Utilities (XLU): #5 (-0.5 pct); weaker bonds

Bonds: Bonds dropped a bit again as U.S. econ data continues better than expected. Inversion of the yield curve was not so bad again this week as recession fears are being dismissed. Merrill Lynch economist not so sure this is the right call, and Colin Twiggs noted that Fed Model is now getting closer to dreaded 50:50 level, which I think should help bonds.

Commodities: $CRB lifted +0.3 pct pct W/W to 313.34 because of strength in oil.

Oil & Gas: $WTIC futures were up sharply +3.3 pct (+$2.06) to 64.09. Crude Light over $65 will likely damage Consumer spending.

Gold: $GOLD and $SILVER were down sharply on Friday afternoon.

Goldminers: $XAU, GDX and XGD (TSX) were down -0.5 pct, -1.7 pct, and -2.7 pct respectively W/W, for a second straight losing week as the $USD gained for the second week in a row. I take this as moves off previously over-bought ($GOLD) and over-sold ($USD) conditions. I also feel there was strong Fed intervention on Friday afternoon.

Forex: This week, the $USD gained +0.9 pct and the Euro lost -1.0 pct to 84.06 and 130.74 respectively. I believe this week's and last week's $USD bounce was only a technical correction to a near-term over-sold condition. Traders are waiting hopefully for phone calls from Paulson and Bernanke post-Beijing " but they ought to be listening to Mr. Joe as he now holds the power.

Cara100 RSI Report: courtesy of "David"
[note there are data differences with Investertech and other sources]

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Sector ETF:

Seven of the ten sector ETF's I follow here were up this week, but only one by +2.0 pct.

To repeat last week's comment: "My thinking here is that this is a year-end rally, but that enough individual stocks are being sold into broad market strength that technical resistance is quickly forming."

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
IYZ	29.62	0.13	0.44%	2.03%	4.04%	4.81%	28.95%	7.91%	17.63%	24.14%
XLE	61.01	-0.74	-1.20%	1.23%	0.48%	7.73%	15.77%	17.67%	14.17%	16.25%
XLF	36.61	-0.11	-0.30%	1.10%	3.48%	1.19%	13.70%	7.20%	13.66%	14.01%
XLY	38.45	-0.30	-0.77%	0.60%	2.18%	0.71%	16.52%	11.58%	15.50%	14.26%
XLU	36.94	-0.37	-0.99%	0.46%	0.60%	2.61%	15.44%	9.39%	14.01%	13.31%
IYH	66.45	0.19	0.29%	0.33%	0.65%	1.08%	4.43%	1.39%	9.49%	5.49%
SMH	34.26	0.10	0.29%	0.20%	0.71%	-3.36%	-9.65%	-0.26%	2.88%	-10.59%
XLP	26.06	-0.09	-0.34%	-0.04%	2.08%	0.81%	11.18%	1.88%	9.27%	8.86%
XLI	35.20	-0.09	-0.26%	-0.31%	0.80%	-0.51%	11.29%	7.55%	5.55%	10.66%
XLB	35.37	-0.12	-0.34%	-0.51%	1.87%	3.97%	14.39%	13.47%	14.17%	17.31%

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.

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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)

XLE gained +1.23 pct W/W to close at 61.01. a week ago XLE was the only loser of these ten sector ETF's.

A week ago I noted that the $USD was in a trading recovery mode, which was partly responsible for the price of $WTIC (West Texas Intermediate Crude) losing -$1.40/bbl to $62.03. The huge week that XOM and CVX had two weeks ago was consolidated last week, as I said at the time.

This week, with $WTIC moving over the $64 mark, most of these oils strengthened again.

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
CVX	75.38	-0.59	-0.78%	3.50%	3.10%	9.96%	27.59%	21.99%	26.84%	27.72%
XOM	77.30	-1.43	-1.82%	2.38%	0.13%	6.37%	32.20%	19.57%	30.75%	29.94%
SU	80.90	-0.73	-0.89%	2.08%	2.35%	7.11%	23.45%	20.10%	9.24%	24.69%
TOT	72.52	-0.36	-0.49%	1.75%	2.73%	3.66%	-44.25%	15.04%	17.63%	-43.87%
STO	27.63	-0.34	-1.22%	1.58%	-1.00%	3.52%	14.50%	14.55%	2.18%	17.83%
CEO	89.85	0.35	0.39%	1.37%	2.66%	5.16%	29.86%	9.89%	18.46%	29.30%
PBR	97.64	0.22	0.23%	-0.59%	3.98%	9.41%	30.67%	23.21%	24.43%	38.97%
IMO	37.66	-0.85	-2.21%	-2.18%	-0.05%	3.78%	-63.79%	11.82%	10.76%	-62.15%
ECA	50.01	-2.34	-4.47%	-5.28%	-5.55%	1.58%	7.09%	9.84%	2.00%	2.27%

Chevron Texaco and Exxon Mobil gained +3.5 pct and +2.4 pct respectively, which is consistent with the big increase this week in the $WTIC price (to $64.09) that was locked in after inventory data showed a much larger than expected drawdown.

There were a few reports from the Merrill Lynch energy research team. Not my specialty, but the data can be helpful to many.

Download ML Dec 13 energy report
Download U.S. Gas report
Download ML Dec 13 U.S. energy demand outlook

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Integrated Oil & Gas - Canada

Oil & Gas Exploration & Production -Canada

EnCana and Imperial Oil took the big hits in this group, while Suncor actually gained +3.1 pct W/W.

In a report this week, Citigroup says "We are cutting our ECA target px to $47 from $60 on cost run-ups and concerns over ECA's portfolio quality. Our rating goes to 3H (sell) from 1H (buy). 4q 06, & full-yr 07-08 EPS ests move down to $1.16, $4.42, & $3.47 on higher costs. Today the company introduced disappointing 2007 guidance of 1% overall production growth, already 400 bps lower than the goal the company had set out just five weeks ago at its annual investor day in Calgary and New York. Our concern over the portfolio quality is driven by skyrocketing costs, even in the face of reduced spending. F&D costs appear to be headed for a 25-50% increase over 2005 for natural gas, and a 75% increase overall for oil and gas. This is happening in an inflationary environment of only 12-15% for 2006. EnCana's valuation appears full from both an asset value (NPV7) and cash flow basis. As several peer companies that appear to have higher quality portfolios trade at similar levels, we believe that ECA is currently overvalued." Download Citigroup Dec 14 report on ECA

In the Cara 100, there are several oils that I think are even more over-bought presently than ECA. As I see it, CVX, XOM and PTR (PetroChina) are three. In fact, the irony here is I believe that even the shares of Citigroup are presently over-bought.

That's not taking shots against my friends at C; of the ten most over-bought stocks in the Cara 100, those three oils plus C are joined by my all-year as well as Christmas time favorite Diageo (DEO); my favorite auto manufacturer Lexus/Toyota Motor (TM); every pirate's favorite Disney (DIS); the CVRD Happy Valley Gang (RIO); another Brazilian, the happy beer guy AmBev (ABV); and another HB&B, the Deutsche Bank (DB).

Boy when this elevator starts to go down, I can just imagine what's going to happen to the (let's say) less quality merchandise.

Btw, since this section is on Cdn oils (lol), there was a downgrade on ECA (from Buy to Hold by Canaccord vs Hold to Sell at Citigroup. Canaccord also downgraded IMO from Buy to Hold.

Neither IMO ("2.2 pct) nor ECA (-4.5 pct) had a good day Friday in the face of the broker downgrades. That ruined their week. Chief complaint is that cost inflation in Alberta is going to hurt future value. That seems like a long-term concern and the price drop was rather immediate " to ECA and IMO, but not to SU, which is also a major Alberta player.

AG Edwards apparently still considers ECA a Buy (with a 12-month US$59 PT) although they did note that EnCana lowered its production growth and budget to generate free cash flow.

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

The Basic Materials ETF (XLB) went from # 1 performer to #10 performer, probably because it had gained +2.39 pct the prior week. This week XLB dropped -0.5 pct W/W with much of that on Friday.

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
TS	51.02	1.48	2.99%	9.53%	12.08%	17.15%	106.48%	45.40%	44.08%	111.18%
PKX	83.90	1.69	2.06%	6.42%	5.85%	15.26%	66.97%	36.56%	37.93%	71.64%
TCK	78.68	-2.17	-2.68%	3.83%	4.09%	12.21%	31.66%	31.73%	0.00%	0.00%
RTP	220.36	-3.02	-1.35%	2.30%	2.66%	7.02%	16.71%	19.19%	7.52%	26.60%
RIO	29.92	-0.11	-0.37%	2.26%	8.48%	14.15%	39.16%	43.50%	34.35%	45.17%
AA	31.04	0.28	0.91%	-0.23%	0.55%	9.64%	3.81%	10.34%	2.58%	9.95%
BHP	40.38	-0.32	-0.79%	-0.62%	-1.25%	0.72%	15.37%	7.57%	-0.10%	24.48%
GGB	16.18	-0.02	-0.12%	-1.10%	3.98%	7.72%	-7.06%	16.65%	21.29%	-0.86%
MT	41.86	0.33	0.79%	-1.39%	3.56%	2.42%	56.02%	24.10%	27.82%	60.94%
NUE	59.19	0.86	1.47%	-9.70%	0.94%	7.25%	70.67%	26.58%	16.20%	79.42%

A week ago I added Tenaris to the Table with some kind words. This week TS responded with a gain of +9.5 pct W/W. Not a bad quarter this week!

Well I added Mittal to the table as well and MT dropped -1.4 pct W/W " so my crystal ball clouded up when I pointed East, you might say. It's used to my pointing it south across Lake Ontario, and I suppose it managed to see the light emanating from those busy Tenaris steel mills in Brazil and Argentina.

Actually Mittal ran headlong into an adversary called the U.S. International Trade Commission (ITC).

The big deal this week in this sector was not M&A, but an end to U.S. steel tariffs on steel from Canada, Australia, France and Japan. The U.S. steel makers were bitterly disappointed this gravy train was eliminated. Nucor (NUE) plunged -9.5 pct W/W.

This move will help the U.S. automakers and other manufacturers like Caterpillar (CAT) and Deere (DE) as well as the Canadian steelmakers.

Did anybody see this coming? Well, a week ago in the Industrial sector review I did write something about one stock that was shot out of the blocks. Guess which one!

(From WIR#49): "The CAT leaped the highest this week (+3.6 pct)."

And why do you think, Nucor was up +11.8 pct a week before this NUE-hammering news came out. I'd say sucker traders were led into a Bull trap. NUE plunged -9.5 pct this week, a lot of it when on Tuesday management released a negative guidance report. And then another whammy hit on Thursday:

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(From the newswire) "The U.S. International Trade Commission (ITC) allowed some tariffs to end on flat-rolled, corrosion-resistant steel used by automakers. The decision applies on a country by country basis. Product for Australia, Canada, France and Japan will not face tariffs, but steel imported from Germany and Korea will continue to be taxed. The commission withheld its decision on China for the present time. China accounted for 17% of U.S. steel imports last month according to Dow Jones. Treasury Secretary Paulson is currently in China conducting high level talks with Chinese officials. The ITC decision is expected to increase imports and drive down margins for US Steel (X), Nucor (NUE), Mittal (MT) and Steel Dynamics (STLD)."

So how did the U.S. steelmakers handle all this action? Motley Fool said: Steel yourself; when it rains, it pours.

But, Steel Dynamics beat the ITC report to the punch on Wed afternoon with surprisingly positive guidance.

The steel research team of Merrill Lynch published a report a week ago that I re-ran, but I'm going to do it again. It might get updated now.Download Dec 8 Global Steel Price Report of ML.

XLB has a small weighting in PM shares, so was affected, but not pulled down too much by Friday's debacle in the precious metals.

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

The Industrials and Transport sector ETF (XLI), aka capital goods producers, was a loser this week, down -0.3 pct W/W to 35.20.

Australian technical analyst Colin Twiggs had more to say about the Dow Transports (DJT) this week, as in: they are continuing their retracement to test intermediate support at 4600. The breakdown would set up a test of 4150, which is the primary support level.

After the DJT couldn't lift through 4900, I started to say: "I'm interested to see if the Dow Transports Average (DJT) can move to a higher level ; It may or may not happen, but I think the odds are growing that there will be a technical chart failure;. (later) I have been saying that for several weeks. This week (a week ago) the Twiggs chart shows the index at 4755, which was a tiny gain W/W. I still think DJT is headed south to test that 4600. But I do acknowledge that 4150 is the major support line. Below that and traders will be headed for the exits."

This Friday, DJT closed at 4701.

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The Dow Transports Average ETF is IYT. That's a chart you have to watch because it gives you insights to the status of the U.S. economy.

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
GE	37.36	1.15	3.18%	5.93%	5.90%	3.89%	5.63%	7.20%	9.53%	3.78%
ERJ	43.46	0.02	0.05%	4.80%	6.83%	1.76%	10.70%	6.76%	23.61%	4.98%
HON	43.62	0.93	2.18%	2.68%	1.89%	0.69%	16.44%	9.74%	12.05%	14.91%
BA	90.70	0.77	0.86%	0.63%	1.28%	2.24%	28.95%	20.92%	6.94%	28.13%
ABB	17.03	-0.06	-0.35%	0.35%	4.41%	7.04%	67.12%	27.66%	42.99%	85.11%
FDX	115.06	0.09	0.08%	-0.21%	0.17%	-2.61%	11.36%	8.65%	5.08%	14.37%
MMM	78.31	-0.46	-0.58%	-0.32%	-2.09%	-2.47%	-1.01%	5.62%	-3.20%	1.06%
CAT	61.82	-0.30	-0.48%	-2.49%	1.03%	0.73%	6.96%	-5.52%	-12.75%	5.30%
UTX	62.45	0.39	0.63%	-3.51%	-2.21%	-6.46%	10.47%	-3.34%	2.70%	8.42%

A week ago, there was some Tables housekeeping to replace some of these stocks with a couple (FDX and ABB) that my readers have requested. (I know I need to update the tables in the top section of this website too.)

Fedex is a bellwether on the U.S. and global economy. ABB is a very well managed industrial giant that matches up well against GE " although they don't have a seat in the Federal Reserve Bank of New York like GE's CEO Jeff Immelt.

Here are the M-W-D charts (with RSI) of FDX (top) and ABB (below).

FDX

ABB

As I commented a week ago, Swiss industrial giant ABB is a terrific company. It will go into my UK/European 100 for sure. I have written it up a couple times.

Of course, after I wrote it up, ABB went up like a bullet, and GE stayed down. This week, however, the gnomes must be getting a little ticked. The beast GE was finally moved up.

This week GE advanced +5.9 pct to $37.36, which is a real shocker to the hard-done-by shareholders. With that huge +5.9 pct lift, GE has now managed a 52 week gain of +3.8 pct. I suppose the shareholders are in it for the dividends. (lol)

Actually, GE lifted with the news of the lifting of the steel tariff " since GE uses a lot of steel in its manufacturing businesses. Note the M-W-D charts with RSI. The Monthly is what technical analysts refer to as a long base.

Hint: they love those long bases. Once they break out, there's little that can stop the pent-up buying power.

Also note the 3-Minute trading chart for GE (below). Whenever a stock might be breaking out of a long base pattern on the basis of good corporate news, I like to watch the trading more closely.

As you can see, traders who over-pumped this stock were taking some profits off the table. The closing minutes sell off could be gnome-inspired. Maybe they want traders to think badly of this stock while they put together more of their own buying.

In any case, the monthly and weekly at 72.9 and 72.6 is marginally over-bought based on my assessment of the GE peer group. It could be higher. The comparables for Boeing (BA) for example are 79.0 and 77.1.

And look at the BA close on Friday.

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

The Consumer Discretionary sector ETF (XLY) was up +0.60 pct W/W to close at 38.45.

Yes, electronic games and iPODS are being hyped for holiday gift giving, but department store and clothing stores are soft in sales so far.

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	32.92	0.35	1.07%	3.69%	4.97%	-1.17%	-25.96%	18.20%	7.09%	-28.47%
JCP	79.53	-1.06	-1.32%	3.38%	4.19%	-2.57%	40.89%	22.86%	20.79%	46.73%
TM	125.76	0.06	0.05%	3.09%	4.80%	2.59%	17.70%	18.46%	24.77%	29.45%
CCL	47.69	-0.11	-0.23%	0.85%	1.27%	-4.43%	-12.61%	8.86%	24.94%	-13.04%
SBUX	36.42	-0.18	-0.49%	0.00%	3.79%	-7.77%	17.98%	7.59%	-1.01%	15.18%
DIS	34.30	-0.42	-1.21%	-0.26%	3.66%	3.75%	40.57%	13.16%	17.51%	38.64%
BC	32.29	-0.07	-0.22%	-0.80%	2.02%	-0.52%	-20.90%	6.85%	-5.36%	-20.92%
NKE	96.05	-0.95	-0.98%	-1.02%	-1.59%	0.86%	11.75%	15.76%	14.96%	7.02%
WHR	82.29	-3.58	-4.17%	-4.14%	-2.79%	-6.84%	-0.46%	-7.14%	0.40%	-2.19%

Ebay (EBAY) (+3.7 pct W/W to $32.92) got more of the Cramer bounce I spoke of a week ago. JC Penny (JCP) (+3.4 pct W/W to $79.53) were clear winners.

Toyota (TM) (+3.1 pct) uses a lot of tariff-lifted steel in the U.S. They were happy with the removal of steel tariffs.

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Costco reported on Dec 14 a solid Q1 ahead of expectations. Margins were under pressure, but impressive given lighter sales. An aggressive share buy-back this quarter effectively increased eps by +$0.02/share. UBS has a Buy-2 rating with a 12-month Price Target (PT) of $66 (presently it's 53.73). Download UBS Dec 14 report on COSTCO

I am considering Costco Wholesale Corp (NDQ: COST) as a candidate for a Cara USA 100. Presently, COST has a Monthly-Weekly-Daily RSI-7 of 57.9/59.9/52.7, which gives the stock some room to run higher.

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Costco [GICS 25]
(COST: Yahoo Finance file)
(COST: StockChart chart)
(COST: Investertech chart)
(COST: ADVFN Financial Data)
(COST: ADVFN Financial Data)

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

The Consumer Staples sector ETF (XLP) had a huge gain a week ago (+2.12 pct W/W). This week, XLP closed flat (-0.04 pct) to close down a penny at 26.06.

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	48.56	-0.17	-0.35%	2.17%	5.57%	2.51%	26.00%	7.84%	29.70%	29.60%
WAG	44.50	-0.10	-0.22%	1.99%	10.50%	4.17%	-1.96%	-10.93%	2.56%	-3.80%
BUD	48.44	0.02	0.04%	1.34%	1.70%	2.91%	10.92%	2.39%	6.65%	10.09%
DEO	78.03	-0.34	-0.43%	0.75%	0.49%	3.12%	31.01%	11.20%	15.21%	31.10%
MO	85.21	0.24	0.28%	0.45%	1.44%	1.96%	13.64%	2.49%	20.73%	11.21%
WFMI	49.06	-0.14	-0.28%	0.37%	2.04%	-0.81%	-36.37%	-12.89%	-21.87%	-35.46%
PG	64.11	0.76	1.20%	0.34%	2.27%	0.93%	9.07%	5.27%	16.82%	8.68%
WMT	46.45	-0.07	-0.15%	0.22%	1.26%	-3.05%	0.48%	-3.67%	-4.54%	-5.70%
KO	48.93	-0.07	-0.14%	0.04%	5.07%	3.80%	19.63%	9.71%	13.68%	18.88%
PEP	62.87	0.37	0.59%	-0.63%	1.47%	1.73%	5.20%	-3.32%	6.42%	5.49%

Walgreens and AmBev scored well for a second straight week. Pills and beer. I wonder.

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

The IYH healthcare ETF gained 22 cents (+0.33 pct W/W) to close Friday at 66.45. A week earlier, the gain was 21 cents. Once again the whole week's gain was Friday.

Maybe the institutions fill up on the weekend? Do you think?

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
BMET	42.00	0.17	0.41%	5.26%	10.76%	8.84%	13.88%	23.93%	18.31%	10.88%
AET	43.20	0.60	1.41%	1.93%	4.50%	4.30%	-8.14%	10.18%	9.28%	-11.29%
PFE	25.64	0.08	0.31%	1.87%	-7.97%	-4.19%	7.82%	-8.56%	8.97%	12.51%
NVS	58.60	-0.05	-0.09%	1.58%	1.33%	0.65%	9.59%	2.70%	11.64%	12.00%
BMY	25.61	0.02	0.08%	1.03%	3.10%	3.85%	10.20%	2.77%	1.35%	17.15%
JNJ	66.29	0.04	0.06%	0.52%	0.49%	-0.36%	7.56%	3.92%	7.84%	10.19%
AMGN	70.22	0.17	0.24%	0.43%	1.30%	-3.06%	-12.62%	0.64%	4.12%	-12.71%
UNH	50.09	0.39	0.78%	0.36%	2.58%	5.19%	-18.86%	-4.06%	11.93%	-20.91%
GSK	51.97	-0.79	-1.50%	-1.05%	-3.28%	0.00%	1.98%	-6.11%	-4.80%	2.61%
DNA	80.79	-0.57	-0.70%	-3.12%	-2.32%	0.09%	-14.05%	2.28%	3.27%	-14.05%

Now I don't want you to think too much of this, but last week I said clearly: "The Cara 100 list in healthcare is Aetna (AET), Biomet (BMET), Bristol Myers Squibb (BMY), GlaxoSmithKline (GSK) and Johnson & Johnson (JNJ)."

Look at the Table 7 to see who the top five weekly performers are. Bingo.

Actually, I had to thank Dubai City for that so I responded accordingly in the wrap-up to this week's WIR. (LOL)

Biomet (BMET) gained +5.2 pct (and hit a 52-week high) a week ago. This week it was another high and another huge gain of +5.3 pct. That's a move of +10.8 pct over two weeks, which is a super quarter. :-)

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

The Financials ETF (XLF) gained +1.10 pct this week to close at 36.61. Several (GS, LEH and BS) reported super earnings this week. A week ago, those solid earnings were no surprise and so traders had bid the XLF up +2.35 pct W/W.

A week ago, I reminded you of the fun and games that the Street plays. I wrote: "Last week's big loss (on a week where bonds had been up too!) seemed to be a set-up for this week's rally ahead of next week's Earnings reports."

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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
C	54.07	0.96	1.81%	4.28%	9.50%	6.73%	9.70%	9.92%	11.07%	10.12%
JPM	48.30	0.35	0.73%	3.29%	4.98%	0.94%	20.18%	2.88%	18.97%	22.03%
CSR	59.15	-0.11	-0.19%	2.76%	6.25%	7.66%	10.87%	15.73%	-1.00%	40.13%
DB	132.90	0.03	0.02%	1.52%	3.07%	4.55%	33.62%	13.19%	24.54%	36.67%
HBC	91.41	0.10	0.11%	1.34%	-1.43%	-3.16%	11.91%	1.58%	4.78%	12.41%
UBS	60.74	-1.07	-1.73%	1.25%	2.14%	-0.64%	23.08%	6.34%	15.52%	26.70%
MER	91.56	0.92	1.02%	1.10%	5.51%	0.53%	33.74%	18.66%	34.94%	34.73%
MS	79.26	-0.34	-0.43%	0.83%	5.30%	0.74%	35.60%	11.71%	38.25%	0.00%
LEH	76.10	0.02	0.03%	-1.21%	3.75%	0.22%	17.19%	6.27%	19.43%	17.37%
GS	199.84	-0.29	-0.14%	-2.56%	2.75%	1.59%	55.07%	22.82%	38.66%	55.76%

Citigroup had a terrific week again (+4.3 pct). The two-week lift is +9.5 pct. I wonder how that $26.5 billion increase in market cap can be related to the discounted present value of the future payouts cut off this week from the highest paid senior brokers.

I wonder if the employees agree with the news releases that got regurgitated on the newswires? I mean, after all, if you can spin a good story, you ought to be able to recognize one. They didn't call the Big Apple the Spin City for no good reason.

I'm sure there are a lot of people wondering how it can be that a trading house can make so much money holding your account. All I can say is that it's a tough business. The commission earners struggle every day to earn a buck. Really. I was in it for too many years not to know.

Still, how many billion dollars did the "Gold"man set aside for year-end bonuses?

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

The semi-conductor ETF (SMH) had a good day Friday, gaining +0.29 pct, which sent the week to a gain of +0.20 pct. SMH closed at $34.26, which was a 7 cent gain.

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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
ADBE	42.81	2.05	5.03%	10.05%	9.24%	2.29%	11.14%	15.70%	47.82%	22.56%
CSCO	27.56	0.24	0.88%	2.15%	3.53%	1.51%	57.94%	20.93%	36.30%	55.18%
INTC	20.94	0.18	0.87%	1.26%	0.38%	-6.22%	-18.11%	7.22%	15.56%	-21.22%
SAP	51.63	0.22	0.43%	0.49%	0.45%	-0.27%	12.36%	6.15%	2.30%	11.20%
QCOM	39.50	0.07	0.18%	-0.10%	8.94%	4.50%	-10.23%	7.31%	-12.01%	-13.64%
CTSH	80.44	-0.22	-0.27%	-0.35%	0.78%	0.25%	58.69%	12.39%	27.66%	60.33%
INFY	54.74	-0.46	-0.83%	-0.44%	3.30%	-2.75%	36.10%	16.69%	57.16%	40.58%
ADSK	41.81	0.47	1.14%	-0.50%	2.35%	13.00%	-2.20%	16.82%	13.95%	-2.52%
ORCL	17.68	-0.34	-1.89%	-0.67%	-5.86%	-7.43%	40.32%	8.27%	29.05%	37.80%
SNDK	42.51	-0.15	-0.35%	-3.58%	-4.62%	-8.95%	-37.21%	-27.35%	-21.93%	-24.36%

Two weeks ago I wrote: "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.""

Then a week ago I wrote: "SNDK dropped a further -1.1 pct this week, including a drop of -2.1 pct on Friday in anticipation of the Cara WIR. (LOL)"

This week, SNDK was on the run, down a further -3.6 pct W/W to close at $42.51. That's a drop of over $6 in four weeks. On Nov. 20, SNDK closed at $48.73.

Adobe had a very strong week (+10.1 pct) to close at $42.81.

Cara 100 ADBE reported a good but expected to be good quarter. I see that RBC Capital Markets reiterated the Outperform Rating but increased their 12-month Price Target +9.3 pct from $43.00 to $47.00. The analyst said: "ADBE's revenues of $682.2M showed upside to the firm's and Street estimate of $670M, though EPS was in line at 33c, from higher sales and marketing and R&D expenses than anticipated."

NetEase.com (NTES) must have had a bad day in China on Tuesday because the stock gapped down on the Nasdaq, closing the week down -3.1 pct to $17.79. I was thinking they were having success with a new computer game.

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Sector 50 (telecom: IYZ, VOX and IXP)

The U.S. telco sector ETF (IYZ) gained +2.03 pct W/W to close at 29.62. That's a big move and is the same as the one that happened the week earlier.

AT&T (T) was up this week +1.97 pct, and Verizon (VZ) was up +3.31 pct.

The story now I guess is that there will be further rounds of consolidation to get rid of legacy technologies and so forth. Tell me, why did the U.S. go through de-regulation and split up of the Bell system if this appears to be an effort to put Humpty together again?

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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) were down -0.51 pct to close at 36.94, which apparently is a gain not a loss. The StockCharts data may be off again.

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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:

A couple weeks ago, I had been thinking that it was time for yields to rise and bonds to dip. They were off last week and then again this week.

This week the U.S. Treasury yield curve clearly flattened. The 30-year to 3-month yield spread went from -34 basis points two weeks ago to -6 bp this week. The 2-year to 3-month spread dropped from -36 bp to -6 bp.

What's happening is that the T-Bill yield has moved down from 4.93 pct to 4.77 pct in just three weeks. Traders are going to cash thinking the Fed is now more likely to lower rates sooner than later.

Merrill Lynch's economist David Rosenberg seems to be ahead of the Street on this one. Maybe that housing crisis is starting to worry commercial bankers, which in turn is getting an ear at the Fed.

I agree with David, but I say that the Fed is going to drop rates when this equity market craters, and not before.

The TIP's have taken quit a tumble this month, btw.

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Interest rates and bond yields.

Weekly data charts:

Interactive Daily data charts:

Interactive Hourly data charts:

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US Treasury Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
3 Month	4.77	4.81	4.82	4.94
6 Month	4.86	4.87	4.86	4.94
2 Year	4.71	4.73	4.67	4.81
3 Year	4.61	4.63	4.56	4.69
5 Year	4.56	4.57	4.51	4.62
10 Year	4.59	4.59	4.54	4.61
30 Year	4.71	4.71	4.65	4.69

Municipal Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	3.52	3.52	3.46	3.53
2yr AAA	3.49	3.52	3.46	3.51
2yr A	3.51	3.52	3.52	3.57
5yr AAA	3.54	3.57	3.51	3.59
5yr AA	3.56	3.58	3.51	3.60
5yr A	3.60	3.62	3.55	3.59
10yr AAA	3.67	3.75	3.61	3.73
10yr AA	3.64	3.75	3.60	3.78
10yr A	3.81	3.84	3.79	3.79
20yr AAA	4.07	4.21	4.05	4.20
20yr AA	4.04	4.15	4.04	4.17
20yr A	4.07	4.10	4.05	4.05

Corporate Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	5.04	5.06	4.99	5.16
2yr A	5.13	5.15	5.07	5.21
5yr AAA	5.08	5.07	5.09	5.17
5yr AA	5.08	5.09	5.03	5.18
5yr A	5.17	5.18	5.12	5.24
10yr AAA	5.47	5.42	5.47	5.57
10yr AA	5.36	5.36	5.29	5.39
10yr A	5.40	5.40	5.35	5.44
20yr AAA	5.76	5.76	5.75	5.80
20yr AA	6.01	6.03	5.73	6.01
20yr A	5.89	5.90	5.82	5.87

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Interactive Chart of Interest rates and bond yields.

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US Bond Funds -- Interactive Monthly Data Charts

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SHY Monthly data series chart:

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IEF Monthly data series chart:

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TLT Monthly data series chart:

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AGG Monthly data series chart:

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LQD Monthly data series chart:

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TIP Monthly data series chart:

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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.

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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:

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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:

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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:

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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
CFC	41.71	0.69	1.68%	4.64%	4.35%	2.41%	19.31%	19.65%	11.52%	17.43%
FNM	60.30	0.08	0.13%	1.19%	6.11%	2.10%	23.72%	12.14%	25.08%	25.99%
FRE	68.99	0.04	0.06%	0.61%	3.08%	0.58%	5.65%	7.18%	19.44%	5.31%
SHY	80.17	0.03	0.04%	0.00%	-0.17%	0.15%	-0.19%	0.19%	0.74%	-0.21%
IEF	83.15	0.06	0.07%	-0.16%	-0.94%	0.43%	-0.89%	1.37%	3.48%	-0.36%
AGG	100.29	-0.04	-0.04%	-0.23%	-0.57%	0.23%	-0.35%	1.05%	2.47%	-0.01%
TLT	89.73	0.05	0.06%	-0.57%	-1.85%	0.32%	-2.23%	2.60%	6.19%	-0.74%
TIP	99.85	-0.51	-0.51%	-0.76%	-1.58%	0.26%	-3.10%	-0.30%	0.68%	-2.59%

Consumer Finance -USA -- Interactive Weekly Data Charts

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Consumer Finance -USA -- Interactive Daily Data Charts

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Consumer Finance -USA -- Interactive Hourly Data Charts

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Commodities:

I had a lot of trouble with StockCharts.com data this week. First it was very late to come, and then it was wrong for the commodity markets. So $WTIC, $GOLD, $SILVER, $PLAT, $PALL, and $COPPER were materially wrong when I first published this WIR.

The $CRB index gained +0.31 pct W/W to close at 313.34, which is not much of a gain. The current price is above the 50-day Moving Average (309.66), but below the more important 200-d MA (329.58).

As long as the current price is below the 200d MA, I think the Fed will not tighten " they'll just use their bully pulpit to talk you into worrying about inflation.

This index gained because of rising Crude Oil prices this week.

Interactive Chart of Weekly CRB Commodities Index:

Interactive Chart of Daily CRB Commodities Index:

---

Oil:

$WTIC had a gain of $2.06/bbl (+3.3 pct W/W) to close at $64.09.

The new 50-Day Moving Average is 60.56, while the 200-Day MA is 67.49 " a small move in each case.

A week ago I wrote: "(At $62.03) The Daily price charts show that Crude Oil is still above the 50d MA and possibly " with unseasonably bad weather this year as well as more problems in the Middle East -- headed to intersect the long-term 200-d MA (67.48)."

$WTIC did move up +$2.06 this week, and at this and higher levels will soon cause the spin doctors to tell America that $70-$80 oil is not going to hurt them, yada, yada. Don't believe it. Prices over $65 will hurt an economy that is already in slowdown (I believe pre-recession) mode.

Interactive Chart of Weekly Crude Oil:

Interactive Chart of Daily Crude Oil:

---

Gold:

$GOLD was hammered on Friday losing -1.87 pct on the day to close down -$11.80 (-1.89 pct) W/W to $619.10. That means $GOLD is back to where it was four weeks ago.

Friday was another shocking day for the Dollar Bears and Gold Bulls. But, central bankers are micro-managing these markets. They can print or pull back all the USD they want and they hold the majority of the world's gold, so they can sell it or add to positions any time they want.

The fact that only they and their friends know whether they are buying or selling truly places the global capital market into the realm of fantasy football. The market needs stability, and the U.S. authorities have a mandate to work to that end. As usual, the public sector is making a mess of it.

But to those of us who are long term strategists and tacticians, these short-term actions are of no material consequence. There are only two important drivers of asset allocation and one is the growth of paper money and the other is the growth of economic value in real terms.

At times, like the present, money supply grows faster than real economic value, and that's when traders need to be over-weighted in energy and metals, and there are times when real economic value grows fastest, which is the time to under-weight energy and metals and to over-weight financial and technology sectors.

The faster the U.S. prints money, the more pressure they are putting under the gold price, and the present situation appears to be extreme. I expect the gold price to soon continue on its voyage north to $800 and significantly beyond. Ultimately, a new Detrended price level will likely be found at about that $800 level, I believe.

At the top of the gold cycle, traders will be advised to under-weight precious metals and to over-weight the economically-based sectors.

---

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 an extreme losing week, losing $0.97 (-6.59 pct W/W) to close at $12.98 thanks to Friday afternoon's debacle (-6.95 pct) in $SILVER and the rest of the PM markets.

The 50-day MA $SILVER is now 12.78 and the 200-day MA is 12.03. So the current price (12.98) is still above both the 50/200-day MA.

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 lost -$8.00 (-0.31 pct W/W) to 1108.20, following a loss on Friday of -0.72 pct.

The 50-Day MA for $PLAT is now 1132.58 and the 200-Day MA is 1169.85, so the current price (1108.20) is BELOW both the 50-day and 200-day MA.

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 lost -$9.19 (-2.76 pct W/W) to close Friday at 323.79. Like the rest of the precious metals, trading was quiet until Friday afternoon when prices cratered.

I believe the world has a need to know if those trades were caused by the U.S. Administration. The brokers at HB&B know. They know whose accounts are doing the selling.

I say that if Deep Throat (the number two in charge of the FBI at the time) believed the need to expose the antics of the Nixon Administration, there is surely the need for HB&B traders to come forth anonymously here.

The 50-day and 200-day Moving Averages for $PALL are 326.31 and 332.87 respectively, so $PALL (323.79) is now BELOW both the 50-day MA and 200-day MA.

In a free and open market, traders need to respect these technical indications; but, in a case of market intervention, I believe additional information is required before decisions ought to be made.

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 dropped -$9.55 (that's on the 2,000 lb contracts) (or -3.07 pct W/W) to close at 301.65. The contracts have dropped -$15.55 in two weeks.

The 50-day MA is 325.91, and the 200-Day MA is 324.26, so $COPPER (301.65) is technically bearish.

Point & Figure charts have been indicating a bearish objective at $268.00, after a Dec 6 chart breakdown occurred. From a Dow Theory perspective, there has been a series of lower highs and lower lows in the copper price cycle for six months.

---

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

This week, the Big Three (Barrick (+1.13 pct W/W), Newmont (+1.24 pct W/W), and Gold Fields (+1.27 pct W/W) were up a bit. Most of the others were down. There were some big losses on Friday in the second tier majors and the intermediate gold miners like Goldcorp, Agnico-Eagle, Kinross and Meridian Gold.

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	18.27	0.02	0.11%	1.27%	-3.99%	8.94%	-5.19%	3.87%	1.84%	11.54%
NEM	47.49	-0.08	-0.17%	1.24%	1.39%	7.35%	-16.89%	7.57%	-5.98%	-5.00%
ABX	30.45	-0.39	-1.26%	1.13%	-2.40%	6.99%	5.66%	4.71%	8.59%	13.20%
LIHRY	40.75	0.34	0.84%	0.02%	-10.54%	-7.20%	17.50%	0.59%	-13.85%	70.64%
AUY	12.65	-0.06	-0.47%	-1.17%	-1.56%	16.06%	76.92%	26.50%	44.57%	120.77%
AEM	40.77	-1.43	-3.39%	-2.04%	-6.15%	9.42%	84.98%	33.32%	43.46%	128.28%
BVN	27.54	0.01	0.04%	-2.27%	-2.62%	2.72%	-6.83%	2.23%	5.48%	-3.57%
KGC	11.82	-0.29	-2.39%	-3.90%	-4.75%	2.96%	19.51%	-0.84%	19.88%	45.21%
GG	28.01	-0.88	-3.05%	-4.14%	-8.64%	6.50%	15.74%	22.10%	3.78%	40.40%
MDG	28.06	-0.93	-3.21%	-4.98%	-7.36%	4.16%	17.11%	10.08%	-5.33%	40.44%

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 AUY 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

---

The goldminer indexes and ETF's all took losses this week, and we're creamed on Friday once again. I think this is end of the week short covering in the $USD, but maybe not.

$XAU, GDX and (TSE's) XGD were down on the week -0.47 pct, -1.65 pct, and -2.73 pct respectively. But the week earlier these losses were -2.76 pct, -2.50 pct, and -2.68 pct respectively.

The $XAU index, currently at 142.93, is still above the 50d-MA (136.95) and 200d-MA (139.51).

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

Weekly U.S. Goldminers Index:

Interactive Chart of Weekly U.S. Goldminers Index:

My long-term (ie, 12-month) remains very bullish, but I am looking to see some weakness in the $USD trading price soon.

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:

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Forex:

A week ago, the previous $USD plunge was arrested and $USD closed the week at 83.32, a gain of +0.85 (+1.03 pct). This week, $USD closed the week at 84.05, a gain of +0.73 (+0.88 pct).

Last week I commented: "Will a single (recovery) week stem the flood? I doubt it, but we'll have to see." Now we are looking t a second recovery week, so Dollar Bull traders are getting a little cocky.

They are openly saying that Hank Paulson has zero chance of convincing the Chinese to liberate the Yuan. We'll see. But, I think the USD issues are so much bigger than the Yuan.

The 50-Day MA for the $USD is 85.05, and the 200-Day MA is now 86.08.

Interactive Chart of Weekly U.S. Dollar Index:

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

---

The Euro (priced in USD) dropped -0.99 pct W/W, closing at 130.74. The pull-back to test 130 had been expected. I think the Euro will soon be headed back up, but honestly I have been out of touch with the markets this week.

The British Pound dropped -0.11 pct W/W to close at 195.12, which was hardly anything.

The CAD dropped -0.70 pct W/W to close at 86.38, which ought to keep the manufacturing exporters and the hospitality/inbound tourism industry happy.

The JPY had a terrible week, following a terrible Friday a week earlier where the daily loss was -1.08 pct. This week, the Yen dropped -1.43 pct W/W, so that's a heck of a six-day run to the downside. The Yen closed Friday at 84.65.

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

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

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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, Canada and India were down, but most of the equity markets had a good run to the upside.

---

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	83.10	2.45	3.04%	4.98%	4.84%	10.80%	53.89%	23.39%	32.26%	52.93%
FXI	101.00	0.60	0.60%	4.28%	7.28%	8.72%	60.34%	27.00%	42.25%	61.68%
IEV	106.11	-0.51	-0.48%	1.51%	2.50%	3.24%	27.12%	11.99%	22.16%	28.70%
QQQQ	44.43	0.06	0.14%	1.21%	2.16%	0.25%	7.55%	10.77%	14.95%	5.86%
EWZ	46.59	0.28	0.60%	1.06%	6.08%	7.67%	33.76%	21.80%	31.80%	37.19%
EWJ	14.15	0.00	0.00%	0.78%	2.31%	4.58%	1.43%	5.52%	8.43%	8.02%
SPY	142.34	-0.78	-0.54%	0.65%	1.51%	1.40%	12.34%	7.87%	12.86%	11.69%
EWU	24.08	-0.18	-0.74%	0.63%	2.38%	3.66%	25.68%	11.02%	17.87%	25.74%
EWC	25.80	-0.18	-0.69%	-0.62%	0.66%	3.12%	14.92%	9.69%	12.57%	18.62%
IFN	47.24	0.07	0.15%	-0.86%	-0.63%	-4.70%	14.47%	15.05%	6.16%	16.33%

Not much was happening except that Russia and China had extremely good weeks, up over +4 pct for the ETF's.

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Japanese equity market ETF: EWJ

Japan's EWJ (a USD-denominated NYSE-traded ETF) gained +0.78 pct W/W to 14.15.

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:

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U.K. equity market ETF: EWU

EWU (priced in USD) was up +0.63 pct on the week to 24.08.

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:

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Canadian equity market ETF: EWC

The EWC of Canada lost -0.62 pct to close at 25.80.

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:

For a couple weeks, I have been alerting readers to the continuous distribution that has been taking place in the U.S. equity markets.

A divergence between Money Flow and Price direction does not always result in price reversals, but when you have looked through hundreds of thousands of charts like me over the 30 years that computers have made this easy you do pick up some experience.

Mine is saying that Money Flow divergences (with positive or negative price trends) usually result in a trend reversal. When I see those divergences showing up simultaneously in different markets, in different sectors, in key stocks, then I feel there is a change about to occur.

In any case, this week was a good one for the Bulls. All four major U.S. equity indexes were up again this week. The S&P500, DJIA and NASDAQ Composite were up (+1.22 pct, +1.13 pct and +0.81 pct respectively) and the Russell 2000 was flat +0.02 pct, and was actually down -0.19 pct on Friday.

The U.S. indexes had a winning week, but they clearly ran into signs of resistance and distribution. Once again, there was a huge opening hour rally on Monday, followed by large volume on falling prices through mid-day Tuesday. Then there was a massive opening gap to the upside on both Thursday and Friday (on almost no volume), and then a sell-off the rest of both days.

Yes, that's called distribution. It happened the previous week too.

Some analysts are saying that the market is hitting resistance points; I call it a plan. Big money is sending sell orders into the market. The timing for when the plug (ie, the supporting bids) gets pulled pretty soon, as I see it.

And just before that happens there will be an avalanche of put option purchases and the VIX will start to go a little nuts.

With the oil price now well above $60, there is even a crying towel to throw out. Perhaps it'll be Hank Paulson and Ben Bernanke complaining of ill treatment in China? Who knows, but I do know there is always a cover story.

---

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. Then, 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.

---

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
GE	37.36	1.15	3.18%	5.93%	5.90%	3.89%	5.63%	7.20%	9.53%	3.78%
C	54.07	0.96	1.81%	4.28%	9.50%	6.73%	9.70%	9.92%	11.07%	10.12%
DD	48.75	0.35	0.72%	3.94%	4.95%	2.35%	13.21%	15.38%	19.11%	13.61%
VZ	36.48	0.39	1.08%	3.31%	5.31%	1.50%	20.08%	1.87%	13.33%	19.18%
JPM	48.30	0.35	0.73%	3.29%	4.98%	0.94%	20.18%	2.88%	18.97%	22.03%
AXP	61.64	-0.26	-0.42%	3.03%	5.28%	3.47%	17.23%	14.68%	15.06%	19.85%
HD	39.88	-0.09	-0.23%	2.78%	2.57%	5.47%	-3.30%	7.15%	6.72%	-6.34%
MSFT	30.19	0.12	0.40%	2.69%	3.75%	2.44%	12.48%	12.48%	36.79%	12.15%
HON	43.62	0.93	2.18%	2.68%	1.89%	0.69%	16.44%	9.74%	12.05%	14.91%
AIG	72.13	0.10	0.14%	2.53%	3.38%	-0.32%	3.61%	9.75%	20.16%	10.46%
XOM	77.30	-1.43	-1.82%	2.38%	0.13%	6.37%	32.20%	19.57%	30.75%	29.94%
T	35.66	0.00	0.00%	1.97%	4.88%	10.06%	44.31%	11.93%	28.60%	43.50%
PFE	25.64	0.08	0.31%	1.87%	-7.97%	-4.19%	7.82%	-8.56%	8.97%	12.51%
IBM	95.26	-0.10	-0.10%	1.49%	4.39%	1.92%	16.09%	14.85%	21.26%	14.04%
INTC	20.94	0.18	0.87%	1.26%	0.38%	-6.22%	-18.11%	7.22%	15.56%	-21.22%
HPQ	39.95	0.04	0.10%	0.78%	1.29%	-0.52%	38.86%	10.42%	25.31%	36.82%
BA	90.70	0.77	0.86%	0.63%	1.28%	2.24%	28.95%	20.92%	6.94%	28.13%
JNJ	66.29	0.04	0.06%	0.52%	0.49%	-0.36%	7.56%	3.92%	7.84%	10.19%
MO	85.21	0.24	0.28%	0.45%	1.44%	1.96%	13.64%	2.49%	20.73%	11.21%
PG	64.11	0.76	1.20%	0.34%	2.27%	0.93%	9.07%	5.27%	16.82%	8.68%
MRK	44.04	0.44	1.01%	0.25%	-2.26%	-1.37%	34.47%	7.15%	28.28%	47.93%
WMT	46.45	-0.07	-0.15%	0.22%	1.26%	-3.05%	0.48%	-3.67%	-4.54%	-5.70%
KO	48.93	-0.07	-0.14%	0.04%	5.07%	3.80%	19.63%	9.71%	13.68%	18.88%
AA	31.04	0.28	0.91%	-0.23%	0.55%	9.64%	3.81%	10.34%	2.58%	9.95%
DIS	34.30	-0.42	-1.21%	-0.26%	3.66%	3.75%	40.57%	13.16%	17.51%	38.64%
MMM	78.31	-0.46	-0.58%	-0.32%	-2.09%	-2.47%	-1.01%	5.62%	-3.20%	1.06%
MCD	43.41	-0.28	-0.64%	-0.80%	3.16%	4.18%	29.50%	15.05%	30.16%	24.10%
GM	29.26	-0.51	-1.71%	-1.08%	-1.45%	-17.65%	54.81%	-7.58%	14.34%	32.22%
CAT	61.82	-0.30	-0.48%	-2.49%	1.03%	0.73%	6.96%	-5.52%	-12.75%	5.30%
UTX	62.45	0.39	0.63%	-3.51%	-2.21%	-6.46%	10.47%	-3.34%	2.70%	8.42%

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)

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Dow 30 list:

The Value Line report this week is on (Cara Global 100) Exxon Mobil (XOM). At almost half a trillion dollars in market cap, XOM is almost $100 billion in cap bigger than GE at number two.

Value Line rates Exxon Mobil very highly (2 for Timeliness and 1 for Safety), but they project five-year annual total returns ranging from a low of +1 pct to a high of just +7 pct. When the dividend yield is +1.7 pct, why would anybody be interested in buying these shares?

The answer is because this is a terrific company. It's a Cara Global 100 company. And when the RSI-7 falls to something in the order of 30, 30 and 30 rather than 79-76-75 as it is today for the M-W-D data series according to one reader, or 81.9, 72.2 and 58.1 according to Investertech, then it becomes a terrific Buy.

The Value Line analyst gives his strong views on the quality of management. (Report the XOM report from Value Line, dated Dec. 15.)

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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)

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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)

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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)

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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)

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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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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)

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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)

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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)

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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)

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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)

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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)

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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 Dec. 15: next one is due Mar. 16)

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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)

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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)

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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)

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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 Dec. 8: next one is due Mar. 9)

---

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:

I was in a rush for dinner, and missed the fact that StockCharts.com data was wrong for the Oils and Precious Metals. So I have made corrections to the text.

The rest of Sunday is committed to work on the manuscript. Trust me, I'd rather be writing a blog.

Wednesday evening we're meeting our daughter at Ruth Chris for a steak and champagne. It's her 25th birthday. Earlier in the day, I'll be dropping off my first copy of the manuscript with a publisher, and in the morning I'll be meeting a surgeon for less pleasant matters. She and I have been meeting too much the past few months.

And I'm making plans to visit Nassau and Paradise Island in mid January to move my business affairs along.

A friend who is a capital markets adviser to the Emir in Dubai (United Arab Emirates) recently returned and sent me some eye-opening photos. I thought this was oil money at work, but he says just 9 pct of Dubai's GDP is from oil.

When I checked on wiki, I discovered that: "Oil reserves in Dubai are less than one-twentieth those of Abu Dhabi, and oil income represents a small proportion of the emirate's income."

To me, that ability to build an economy on servicing the world's needs, without simply exploiting the oil crisis, makes these photo's of Dubai City even more impressive. This is a brand new world class city, still of relatively small population (1.5 million), built mostly on capital markets and tourism.

If you have just a few minutes, read the Wiki section on Dubai Real Estate and Property and then look at these striking photos.

---

Sadly, there is nothing like it in America. For comparables, you have to look to China.

The architecture would be appreciated by my friend Michael HK Wong, who has visited Dubai recently. Michael called me Thursday evening at 11:30, catching me sound asleep and bleery-eyed complaining that the clock read 1:30am. I thought he was calling from China where he has over $1 billion in projects underway. But, no he says, he had just left the office in preparation for his departure in the early morning for China and he hadn't noticed the time.

Michael wanted to catch up on things and to tell me more about the incredible developments that are happening in China today. He's one of three architects responsible for the main stadium of the China Summer Games of 2008 and one of fewer than ten lead firms working on the site. As a friend remarks, his Air Canada mileage must allow him at some point to buy the plane.

I never got to open my eyes before Michael clicked off, saying he'd be back for Christmas and let's get together.

It's been a slice. Actually Wednesday will be a slice. Ouch!

As always, have a good one.

BCara@BillCara.com