In this Week In Review, I expect the report to be back to normal. Readers, of course, are going to ask my views on Friday morning's gold:dollar trade, so I'll get to that. I will also get into a list of companies in the platinum, palladium and titanium metals that may be of interest to some of you.

As this week's Value Line's Dow 30 reports are for Altria (MO) and Coca-Cola (KO), I'll provide my views on those companies as well. (MO: Value Line Report Feb. 2) and (KO: Value Line Report Feb. 2)

In Canada, my friend and technical analyst Bill Carrigan wrote an article Friday in the Toronto Star on a company we call the "Bomber". I like the company and will make my views known later. The stock last traded at C$4.75 and (for disclosure purposes) I have an indirect interest in the stock with an Adjusted Cost Base of C$2.60, which just happens to be the long-term cycle bottom.

Tomorrow, I'll be trying a switch-over to a new hosting service. After that settles down, I'll start to introduce a few changes to the website and blog, starting with some banner ads and later some $$premium reports. So if you have a company that does banner ads and you'd like exposure to the world's best trading and investing audience, please send me an expression of interest.

Finally, later this month I'll have a surprise for my readers. It'll be a new info service " both free and $$premium “ that will tie into a new professional trading service I expect will be up and running in a couple months.

Here now is my report. Bear with me; I'm just starting to feel better.

---

Global Market Summary

---

International Equities: Let the melt-up begin. Singapore (+4.2 pct), Mexico (+3.3 pct), South Korea (+3.0 pct) and Germany (+2.9 pct) reflect a globally powerful equity market this week,

U.S. Equities : Russell small cap (+2.7 pct), S&P 500 (+1.8 pct), Nasdaq (+1.7 pct) and the Dow 30 (+1.3 pct) had super gains. The Monthly RSI-7 for the Dow (+89.6) and S&P 500 (+89.0) have exceeded their peak values at the last long-term market cycle top in 2000. Many traders seem to be hitting the "Easy" button, but the smart ones aren't wandering too far from their Sell button.

Dow 30 : There were 25 Dow stocks up and 5 down W/W. No one can deny that money flow has reversed, and stocks are the beneficiaries.

U.S. Sector ETFs: There were 10 ETF's up and none down W/W. Seems surprising when Crude Oil is almost back to $60, but it is what it is.

First segment: most influenced by global commodities, forex and capex spending
10: Energy (XLE): #1 (+3.1 pct); $WTIC closed at $50.02.
15: Basic Materials (XLB): #8 (+1.5 pct); Metals awful on Friday
20: Industrials (XLI): #2 (+2.8 pct); Weak $USD beneficiaries
Second segment: most influenced by U.S. consumer spending and economic growth
25: Cons. Discretionary (XLY): #4 (+2.3 pct); Is the consumer back?
30: Cons. Staples (XLP): #10 (+1.2 pct); Incredible move for lowest mover
35: Healthcare (IYH): #6 (+1.7 pct); PFE up +1.9 pct, but MRK -2.7 pct
Third segment: most influenced by U.S. interest rates and general economic health
40: Financial (XLF): #7 (+1.6 pct); JPM +2.5 pct; bonds finally rallied
45: Tech (SMH chips): #9 (+1.5 pct); Chip wars continue
50: Telecom Service (IYZ): #5 (+2.1 pct); The Big T (+4.7 pct)
55: Utilities (XLU): #3 (+2.3 pct); Is US econ growing so fast?

Bonds: U.S. Bonds had a good week this week as the yields on the 30-year, 10-year and 5-year Treasuries dropped -5 basis points (bp) each. The 3-Month Treasury Bill yield upped 1 bp to 4.98 pct. Yields are still about +20 bp higher than the final week of 2006.

Commodities: $CRB lifted +1.9 pct W/W largely because of Crude Oil closing up over 59.

Oil & Gas: $WTIC futures lifted +6.5 pct to 59.02, including a +3.0 pct rally on Friday. Warm weather in the East? Isn't this a matter of adding to Strategic Petroleum Reserves to make up for most of 2006 when it was politically important to flood the market with oil?

Gold: $GOLD, $SILVER, $PLAT and $PALL all had big losses -1.7 pct to -2.6 pct on Friday. But gold was marginally higher on the week.

Goldminers: Despite taking a hit on Friday, $XAU, GDX and XGD (TSX) were up +0.2 pct, +0.3 pct, and +1.5 pct respectively W/W.

Forex: This week, the $USD dropped -0.34 pct and the Euro, Pound and Yen all gained +0.4 pct W/W.

Economic calendar for next week.

---

Cara Stock Watch

The Cara 100 RSI-7 Highs and Lows, sorted Monthly

Interactive link to Friday Daily RSI-7 >70 in Cara 100 (no smoothing) (12 of 23)

Interactive link to Friday Daily RSI-7 <30 in Cara 100 (no smoothing) (1) >

---

Here are the Cara Watch List gainers on Friday.

Please ignore the GRZ, KRY and ACH. I am going to make some changes in the near future as to how this table is prepared.

Interactive chart of the top 12 Watch List gainers

---

Here are the top Cara Watch List losers for Friday.

Interactive chart of the top 12 Watch List losers (Interactive link)

A couple weeks ago, I noted a comparative softness to the Chinese and Russian stocks. If there is now a cycle of international credit tightening, then I expect to see the impact felt quickest in the more speculative BRIC markets.

---

Sector ETF Review

The tables I show are for ten Sector Index Funds (ETF's) only. For the Tech sector, there are many sub-sector ETF's I could have selected, but I feel the chip industry is a leading group, and a very important one. In the near future, I intend to devote more time and space to ETF's.

Of the ten I have been following here, all 10 of 10 were up this week.

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	58.63	0.33	0.57%	3.13%	3.59%	5.54%	3.62%	5.87%	-0.36%	5.20%
XLI	36.19	0.14	0.39%	2.78%	1.60%	3.16%	2.72%	6.47%	13.48%	14.85%
XLU	37.10	0.19	0.51%	2.34%	2.91%	0.90%	0.76%	3.52%	8.38%	16.59%
XLY	39.71	0.11	0.28%	2.27%	0.25%	3.12%	3.09%	7.67%	23.17%	19.29%
IYZ	30.84	0.16	0.52%	2.09%	4.26%	4.19%	3.98%	7.72%	16.07%	29.31%
IYH	68.89	-0.06	-0.09%	1.74%	0.07%	2.30%	3.66%	4.81%	8.47%	7.89%
XLF	37.39	0.09	0.24%	1.55%	1.16%	1.60%	1.27%	6.43%	13.17%	17.91%
XLB	36.63	-0.06	-0.16%	1.52%	2.40%	6.33%	5.84%	9.70%	17.63%	16.80%
SMH	34.32	0.22	0.65%	1.48%	2.75%	0.38%	2.23%	3.84%	10.39%	-8.67%
XLP	26.80	0.05	0.19%	1.17%	0.71%	1.79%	1.98%	4.73%	8.63%	14.63%

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 has been moving higher for a couple weeks as (i) OPEC has been making noise about production cut-backs, (ii) the President announced recently that Strategic Petroleum Reserves would be start to be re-built after seven months of do-nothing, and (iii) weather in the industrial US north-east has turned quite cold, finally.

This week, XLE gained +3.13 pct to 58.63. $WTIC gained this week by +6.5 pct to $59.02.

Right at the Daily data cycle bottom in early Janary, I made the following comment: "Meanwhile $WTIC gained +1.3 pct on Friday, and some rather intelligent and forward thinking analysts like Tom McManus at Banc of America were recommending to buy the dips in XOM, CVX and COP. Trader nervousness in the near term seems to be overdone with respect to oil and precious metals. The economy is in a slowdown state, but is not crashing, and there will be snow here sometime soon. Above 55 oil and 600 gold, these producing companies are raking in the profits, which is the point that should be top of mind with traders."

That was good advice.

---

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	74.04	-0.43	-0.58%	3.55%	2.38%	5.35%	4.33%	9.22%	12.23%	26.54%
TOT	68.85	-0.21	-0.30%	2.98%	1.79%	-0.68%	-2.99%	2.36%	2.98%	2.96%
IMO	35.28	-0.83	-2.30%	2.92%	3.73%	3.10%	-1.07%	3.07%	-6.29%	-66.41%
STO	26.88	0.00	0.00%	2.79%	7.52%	8.87%	4.63%	4.47%	-10.40%	-0.63%
ECA	48.19	-0.23	-0.48%	2.64%	3.32%	9.13%	6.29%	3.21%	-11.56%	1.60%
XOM	75.54	0.46	0.61%	2.62%	2.73%	3.88%	1.93%	6.11%	10.31%	21.94%
PBR	99.46	0.16	0.16%	2.15%	5.15%	2.67%	-0.20%	14.35%	5.79%	11.75%
SU	73.98	-0.69	-0.92%	-0.74%	0.26%	4.67%	0.09%	-1.23%	-10.96%	-6.18%
CEO	84.94	-0.33	-0.39%	-1.69%	-2.70%	-7.24%	-9.90%	0.99%	-1.62%	1.97%

The oils had been over-sold in early January, relative to the broad market. Now they have caught up.

---

Integrated Oil & Gas - Canada

Oil & Gas Exploration & Production -Canada

The IMO 6 and 12 month data is bad. I will be making arrangements to correct this data in future.

As long as Crude Oil stays in the 50's as a long-term cycle low, I feel the Western Canadian Oil Sands is a no-brainer.

---

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

The Basic Materials ETF (XLB), dipped on Friday because of the smack-down in metal prices, but the sector was up +1.52 pct W/W, with XLB closing at 36.63.

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	91.50	-0.01	-0.01%	6.52%	11.82%	14.81%	15.20%	28.51%	48.32%	61.60%
NUE	64.83	0.01	0.02%	5.45%	13.36%	18.04%	18.95%	12.90%	21.25%	59.60%
MT	47.56	-0.84	-1.74%	4.25%	13.86%	18.90%	16.57%	13.16%	37.82%	34.85%
GGB	17.07	0.05	0.29%	3.45%	11.21%	5.83%	3.96%	15.89%	8.38%	-19.06%
RIO	34.02	-0.08	-0.23%	3.09%	12.95%	19.49%	18.04%	30.15%	44.83%	38.01%
BHP	41.18	-0.24	-0.58%	2.39%	2.92%	9.11%	5.94%	-3.79%	-2.76%	7.24%
AA	32.44	-0.36	-1.10%	1.15%	3.31%	11.44%	10.60%	13.82%	9.41%	5.84%
TS	47.07	-0.83	-1.73%	0.58%	-2.08%	0.36%	-2.99%	15.11%	17.26%	55.09%
RTP	212.75	-5.10	-2.34%	0.51%	3.65%	7.85%	4.24%	-5.27%	0.54%	5.17%
TCK	71.37	-3.58	-4.78%	-2.15%	3.24%	6.75%	3.06%	-0.15%	-0.21%	0.00%

The steelmakers enjoyed a great week as product prices increased.

The big metal miners BHP, Rio Tinto (RTP) and CVRD (RIO) were strong, although RTP took a big hit on Friday.

As long as the $USD stays in a falling trend, the metals, steelmakers and the oils should all continue to do well. My belief is that the market is in a long-term market cycle final melt-up, which will see the biggest stock price increases in the $USD price sensitive sectors. That's because I believe the Fed has been jattering anti-inflation by way of their mouth while being excessively accommodative in their actions. When that cycle ends, which will be when the public starts screaming about too high oil and metal prices, so too will the Fed reverse policy. They will then tighten on the one hand and, as stock prices start falling, they will start dropping the Fed rate.

I shake my head every time I hear a Fed shill opine that Bernanke has been brilliant at the helm. Let the cycle play itself out before deciding. As to his quite recent personal communications, I must admit that Bernanke has been brilliant (in the positive sense). But being clear-spoken doesn't always mean being straight-forward.

I still don't understand how the Fed and the Administration can participate in the buying and selling of stocks, bonds and physicals (gold, silver, oil) in the open market without the public being given all the details. That's not an honest market. That's like playing cards in a casino and not knowing the dealer has 47 or 57 cards in the deck.

If there is one thing that has to happen, it's having full, true and plain disclosure by all participants in capital markets. If you happen to think the US Fed and Administration has the right to trade in secret, then ask yourself how they are accessing the market without some people knowing. When the FOMC head trader puts in a bid or offer, he's doing it via accounts with banks and broker-dealers. Those traders have a clue what's happening.

---

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

The Industrials and Transport sector ETF (XLI), aka capital goods producers, was up +2.78 pct W/W to close at 36.19.

When the $USD is falling, and job growth is slow, as happened this week, you would expect the major exporting industrials to be doing ok, but when oil prices are rocketing north, how is it that the transports are also doing so well? Ah, this was a crazy week.

---

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

XLI Monthly data:

XLI Weekly data:

XLI Daily data:

XLI Hourly data:

Table 4 Senior capital goods makers and transportation:

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
CAT	65.25	0.26	0.40%	6.81%	9.90%	6.97%	6.69%	7.74%	-7.77%	-4.59%
BA	90.05	-1.00	-1.10%	5.41%	1.60%	0.58%	0.99%	13.70%	14.54%	25.59%
FDX	114.98	3.09	2.76%	4.63%	3.60%	5.99%	4.75%	2.58%	11.29%	16.73%
HON	46.16	0.23	0.50%	4.60%	1.92%	2.40%	2.35%	10.25%	19.55%	19.80%
ABB	18.21	0.19	1.05%	4.24%	4.24%	5.57%	2.19%	24.39%	41.71%	67.68%
UTX	68.00	-0.58	-0.85%	2.97%	4.33%	8.16%	8.26%	5.70%	9.17%	17.75%
ERJ	41.12	0.04	0.10%	2.31%	-0.02%	1.16%	0.83%	1.56%	19.47%	3.81%
GE	36.27	0.04	0.11%	0.55%	-1.84%	-3.92%	-4.48%	4.49%	11.26%	10.24%
MMM	73.87	-0.12	-0.16%	-6.13%	-6.79%	-5.23%	-5.61%	-6.35%	6.12%	2.38%

Some of these gains were huge. GE didn't do much however and 3M (MMM) hit a pothole (-6.1 pct W/W) when it reported that future earnings would not be as firm as the recent quarters.

---

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

The Consumer Discretionary sector ETF (XLY) was up +2.27 pct W/W to close at 39.71. The move this week has made a pretty fair four-week performance.

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
NKE	100.20	-0.48	-0.48%	5.25%	0.26%	1.55%	2.59%	7.97%	28.25%	20.22%
WHR	92.35	0.10	0.11%	4.28%	6.04%	8.97%	9.08%	7.70%	20.51%	6.92%
JCP	83.70	-1.07	-1.26%	3.26%	1.22%	8.96%	7.23%	8.80%	30.29%	49.30%
EBAY	32.45	0.30	0.93%	2.53%	9.48%	2.72%	7.56%	-0.25%	41.03%	-21.96%
BC	34.60	-0.02	-0.06%	2.34%	10.02%	9.01%	8.40%	11.58%	16.38%	-7.86%
DIS	35.18	0.17	0.49%	1.82%	-0.90%	2.06%	2.87%	10.98%	18.05%	40.16%
SBUX	34.27	-0.14	-0.41%	1.15%	-3.57%	-2.86%	-2.78%	-8.17%	2.67%	-0.38%
TM	131.27	-2.01	-1.51%	-0.21%	-0.80%	-4.72%	-2.98%	11.01%	24.89%	28.57%
CCL	51.77	-0.38	-0.73%	-0.37%	-1.18%	1.77%	1.61%	7.43%	34.40%	-1.86%

Nike (NKE) ran ahead of the pack this week (+5.25 pct), which put the quarter (13 weeks) up +8.0 pct.

In January, I stated: "The discretionary consumer spending analyst at BB&T Capital Markets thinks that the boating industry will not be so pleasurable in 2007, or so they say with a not positive report on Cara 100 Brunswick Corp." The stock is merely up +10 pct since then. Nice timing.

---

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

The Consumer Staples sector ETF (XLP) was the worst performing one this week, up just +1.17 pct (smiley goes here), closing at 26.14.

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
WFMI	44.67	0.70	1.59%	5.08%	1.62%	-4.94%	-1.78%	-25.70%	-12.34%	-37.95%
ABV	52.24	-0.22	-0.42%	2.63%	4.31%	6.42%	6.40%	18.65%	26.92%	31.52%
PEP	65.04	-0.34	-0.52%	0.92%	0.34%	2.99%	3.70%	2.90%	2.91%	13.21%
DEO	79.16	-0.31	-0.39%	0.87%	1.07%	0.14%	-0.47%	6.27%	12.17%	30.71%
BUD	51.37	-0.03	-0.06%	0.86%	1.08%	5.37%	4.37%	8.79%	7.31%	24.99%
WMT	48.08	0.30	0.63%	0.86%	-0.48%	0.63%	1.11%	-0.43%	8.36%	3.89%
KO	48.24	0.14	0.29%	0.86%	-0.04%	-0.74%	-0.70%	3.28%	8.87%	17.00%
PG	65.34	0.00	0.00%	0.74%	-1.13%	2.01%	1.24%	3.27%	12.09%	9.54%
WAG	45.32	-0.42	-0.92%	0.29%	-1.50%	-1.82%	-1.63%	7.37%	-4.99%	3.73%
MO	86.56	-0.92	-1.05%	-1.64%	-0.80%	-1.24%	0.06%	6.39%	8.20%	20.17%

Why it was just at New Year's when I opined that Diageo (DEO) had been red-lining the Daily RSI charts on account of us Guinness drinkers. The stock then dipped, but is still hanging in there at $79.16, off just -1.30 pct from its 52-week high ($80.20). The past 13 months (+34.3 pct) has been very impressive.

I'm glad some of you picked up some groceries at Whole Foods Markets after I indicated that the stock was in the Accumulation Zone. This week WFMI jumped +5.1 pct.

Altria (MO) formally announced what had been leaked many months ago, which is that the company is being restructured with its food group the first to be hived off. Then it'll be tobacco in the non-USA world, leaving the courts to look at a slim-downed, nic-puffed Philip Morris.

MO dropped -1.64 pct W/W, including -1.05 pct on Friday. Wasn't Cramer hyping this one?

---

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

The IYH healthcare ETF gained +1.74 pct W/W to close at 68.89. I had been thinking the Dem's would have knocked this one down a peg by now.

I still understand the decision by Lehman Bros to downgrade the managed healthcare industry because of difficulties in the near-term for the Medicare Advantage program.

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
BMY	28.64	-0.16	-0.56%	9.27%	7.55%	7.31%	8.57%	17.04%	20.89%	26.95%
AET	42.52	0.24	0.57%	3.78%	1.50%	0.95%	-0.84%	2.88%	30.87%	-12.35%
UNH	52.91	0.11	0.21%	2.66%	-0.55%	0.00%	0.65%	8.82%	8.94%	-10.87%
GSK	55.81	1.10	2.01%	2.20%	-0.25%	1.99%	3.72%	3.49%	3.74%	9.65%
PFE	26.80	0.18	0.68%	1.94%	-1.54%	1.59%	1.94%	0.41%	4.65%	3.96%
NVS	58.56	0.07	0.12%	1.77%	0.02%	-0.71%	0.72%	-3.87%	4.87%	6.24%
DNA	87.40	0.20	0.23%	0.96%	-1.85%	4.01%	6.85%	7.24%	9.22%	1.12%
BMET	42.24	-0.02	-0.05%	0.81%	1.37%	1.64%	1.86%	10.17%	22.83%	16.43%
JNJ	66.58	-0.43	-0.64%	0.77%	-1.74%	-0.97%	0.27%	-1.94%	5.43%	15.49%
AMGN	69.45	-0.06	-0.09%	-2.87%	-6.46%	-2.65%	1.54%	-7.77%	-1.75%	-6.98%

Cara 100 AET (+3.8 pct W/W) and former Cara 100 UNH (+2.7 pct W/W) were huge this week, but these gains are just getting them back to square one on the year.

And I feel good about Bristol-Myers Squibb (BMY), which was up this week +9.3 pct to $28.64 ($29.39 high), making it +27.0 pct for the past 12-months. Remember, I almost offed this company from the Cara 100. But then I decided to stick with it, buying it below $21 when all three Monthly-Weekly-Daily RSI-7 values dropped below 30 in August.

That was just a trade though. When I have the time to review the Cara Global 100 thoroughly, I intend to make a number of changes and BMY will be one. In fact, I plan to have a USA 100, a LatamCan 100, Europe 100, and Asia-Pac 100 in addition to Global 100.

The biotechs didn't have such a great week. A couple weeks ago I wrote: "The biotech group with AMGN and DNA had a great week. These have been losers, so maybe that was a last ditch attempt to goose them and sell them before the Bear returns." Let's look at the chart:

---

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

The Financials ETF (XLF) gained +1.55 pct W/W, closing at 37.39.

---

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

XLF Monthly data:

XLF Weekly data:

XLF Daily data:

XLF Hourly data:

Table 8: Senior financial company equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
LEH	85.80	0.83	0.98%	5.83%	3.19%	11.66%	9.12%	12.89%	33.64%	22.96%
UBS	63.57	0.08	0.13%	3.05%	4.23%	4.08%	3.55%	6.43%	16.75%	17.81%
CSR	59.15	-0.11	-0.19%	2.76%	6.25%	7.66%	10.87%	15.73%	-1.00%	40.13%
JPM	50.93	-0.28	-0.55%	2.47%	4.45%	5.69%	5.95%	8.59%	11.96%	27.36%
MS	84.04	0.19	0.23%	2.34%	3.12%	2.60%	2.96%	13.32%	26.89%	37.16%
DB	139.87	-1.53	-1.08%	1.28%	2.54%	3.30%	3.35%	13.03%	23.89%	32.28%
HBC	92.51	0.19	0.21%	1.17%	0.24%	0.26%	-0.49%	-4.45%	1.25%	11.61%
MER	95.01	0.23	0.24%	0.51%	-0.90%	3.23%	1.50%	9.23%	32.03%	29.28%
C	54.66	-0.07	-0.13%	-0.02%	0.29%	-0.73%	-1.07%	9.89%	12.19%	20.98%
GS	213.43	1.43	0.67%	-0.03%	1.49%	7.33%	6.33%	13.90%	42.38%	49.75%

Lehman Bros announced a buy-back of 100 million shares in stock, which pumped the price +5.83 pct W/W to $85.80, making it an $8.5 billion purchase at these levels.

Citi (C) and Goldman Sachs (GS) were down slightly, making it, along with HSBC (HBC) and Merrill Lynch (MER), a slow couple weeks as this broad market powered north.

---

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

The semi-conductor ETF (SMH) had a good week, up +1.48 pct to close at 34.32.

---

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
ADSK	44.29	0.03	0.07%	4.29%	4.88%	7.16%	9.20%	22.96%	35.24%	19.48%
INTC	21.23	0.12	0.57%	3.41%	1.97%	0.28%	4.32%	2.66%	20.76%	0.14%
INFY	58.94	0.23	0.39%	3.39%	5.01%	6.39%	5.59%	14.40%	41.55%	59.38%
CTSH	85.83	0.63	0.74%	3.26%	5.11%	9.81%	10.38%	14.41%	27.67%	66.72%
CSCO	27.13	0.54	2.03%	2.96%	1.61%	-4.64%	-2.20%	12.81%	55.38%	47.69%
ORCL	17.42	0.37	2.17%	1.57%	0.87%	-1.47%	-0.51%	-4.76%	17.86%	40.60%
SAP	46.13	-0.63	-1.35%	-0.15%	-5.93%	-13.95%	-13.29%	-6.05%	1.45%	-9.81%
ADBE	38.97	0.21	0.54%	-0.74%	1.46%	-4.53%	-2.38%	3.48%	20.87%	-1.07%
QCOM	37.19	-0.22	-0.59%	-0.85%	-4.32%	-5.01%	-0.72%	2.23%	8.27%	-20.67%
SNDK	40.80	0.06	0.15%	-4.52%	-3.66%	-3.34%	-2.21%	-12.76%	-11.97%	-37.25%

There is a supposed chip war between Intel and AMD, but INTC was up this week by +3.4 pct. On the other hand NAND flash memory chips seem to be in demand but SanDisk (SNDK) took another hit this week (-4.52 pct). Go figure.

---

Sector 50 (telecom: IYZ, VOX and IXP)

The U.S. telco sector ETF (IYZ) gained +2.09 pct this week to close at 30.84. In the past 12 months, IYZ is by far the best performer, with a gain of +29.3 pct.

AT&T (T) and Verizon (VZ) are up +43.7 pct and +21.0 pct respectively in the past 12 months. AT&T has to be the story of the year, I think. But the price is now very high in the Distribution Zone with M-W-D RSI-7 values of 91.0-75.9-85.8.

Not that I ever figured AT&T for a Cara 100 company, it was clearly a high dividend paying company that had been assimilating its prey without difficulty. This was a restructuring story of the highest magnitude. So we all knew the company wasn't going away. When there was an opportunity to buy the shares four years ago when the M-W-D RSI values were under 30, that would have been a good time to buy.

But the big move in the stock has been made since May 2006, at the point I called a top in the long market cycle (2002-2006). T carried this market on its back after the oils started south in the 3Q06. The question now is, where to from here.

The company is carrying a lot of debt. Should interest rates not head down this year, this is a stock that might give back some profits. Besides the "Triple Play" of cable seems to be making relentless gains.

---

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) were up +2.34 pct W/W to close at 37.10. I am impressed. Where are all the new subscribers coming from?

A few weeks ago I said: "I think excess money is driving the prices of the utilities higher, just like the telco services sector. I don't see a significant improvement in the operating or financial summary metrics to warrant such high market prices; But I have been saying that for some time!"

Once the banks tighten credit, causing rates to rise, I believe that all these debt-heavy sectors will be looking lower for many weeks.

---

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

XLU Monthly data:

XLU Weekly data:

XLU Daily data:

XLU Hourly data:

---

Bond & Interest Rate Review

This was a good week for U.S. Treasury bonds as the yields dropped by -5 basis points (bp) to 4.95 pct, 4.85 pct and 4.84 pct respectively on the 30-year, 10-year and 5-year paper.

As the T-Bill yield only moved up 1 bp at 4.98 pct, the yield curve dipped gain. But now there are Talking Heads saying that the inversely sloping yield curve can be dismissed this time. Why, because central banks are flooding the market with liquidity, part of which buys bonds higher?

A more likely explanation is that growth in the use of credit derivatives has made the debt market appear to be an almost risk-free venture. High-risk credits today are priced not far above Treasuries and AAA corporates. That cannot last. And when the bubble bursts, there will be a lot of problems among the counter parties holding worthless debt.

This is a problem that central banks are watching. If it comes to pass that banks and other financial intermediaries go broke, so be it. Our job is to watch the prices of the stocks because that is for sure where we'll first become aware of problems in the financial system. The Fed will be telling their friends, not us.

---

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	4.98	4.96	4.97	4.88
6 Month	4.93	4.93	4.95	4.86
2 Year	4.91	4.94	4.95	4.73
3 Year	4.84	4.87	4.89	4.66
5 Year	4.79	4.82	4.84	4.63
10 Year	4.80	4.82	4.85	4.64
30 Year	4.90	4.91	4.95	4.74

Municipal Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	3.66	3.60	3.56	3.54
2yr AAA	3.65	3.65	3.68	3.58
2yr A	3.70	3.67	3.63	3.59
5yr AAA	3.68	3.67	3.68	3.58
5yr AA	3.73	3.71	3.69	3.51
5yr A	3.80	3.79	3.77	3.56
10yr AAA	3.83	3.81	3.81	3.67
10yr AA	3.82	3.82	3.83	3.65
10yr A	4.13	4.11	4.11	3.97
20yr AAA	4.20	4.20	4.20	4.21
20yr AA	3.96	3.96	3.96	4.06
20yr A	4.14	4.03	4.15	4.09

Corporate Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	5.19	5.21	5.25	5.04
2yr A	5.26	5.28	5.32	5.14
5yr AAA	5.22	5.24	5.25	5.07
5yr AA	5.28	5.30	5.34	5.14
5yr A	5.35	5.37	5.41	5.21
10yr AAA	5.66	5.68	5.77	5.20
10yr AA	5.59	5.57	5.70	5.36
10yr A	5.61	5.63	5.65	5.43
20yr AAA	5.87	5.87	5.93	5.71
20yr AA	5.95	5.95	6.01	5.79
20yr A	6.01	6.01	6.07	5.84

---

Interactive Chart of Interest rates and bond yields.

---

The rumor of the week is that maybe Bank of America will be acquiring Countrywide Financial (CFC). CFC shares lifted +7.21 pct W/W, which is, to say the least, a lot of lifting by somebody. The stock is up +38.4 pct over 12-months.

TLT had a good week, up +0.33 pct, but the inflation-sensitive TIPS were up even more (+0.55 pct).

Fannie and Freddie also had great weeks (up +2.5 pct and +2.4 pct respectively). Maybe traders think that BoA is going to take these USA protectorates off the government's hands? Do you think?

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:

---

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:

---

I don't see any break-out on the Daily price series of the Bonds. Other than a huge day Wednesday, followed by the first of the month distribution day on Thursday, which included some selling that ran into Friday, I don't see anything here that says Bonds are for me.

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
CFC	45.03	1.00	2.27%	7.21%	8.98%	6.18%	6.93%	16.75%	23.67%	38.43%
FNM	57.06	-0.09	-0.16%	2.46%	0.11%	-4.68%	-4.68%	-2.33%	20.92%	-0.59%
FRE	65.95	0.34	0.52%	2.36%	1.46%	-2.91%	-2.86%	-2.89%	14.92%	-0.72%
TIP	98.88	0.18	0.18%	0.55%	0.48%	-0.42%	-0.35%	-1.21%	-1.46%	-3.58%
TLT	87.20	0.11	0.13%	0.33%	-0.90%	-2.66%	-2.10%	-2.67%	1.66%	-3.34%
IEF	81.81	0.10	0.12%	0.02%	-0.47%	-1.37%	-1.05%	-1.46%	0.76%	-1.20%
AGG	99.43	0.14	0.14%	-0.10%	-0.41%	-0.69%	-0.48%	-0.64%	1.18%	-0.52%
SHY	79.81	0.03	0.04%	-0.20%	-0.23%	-0.39%	-0.29%	-0.35%	0.14%	-0.27%

I think there are hedge funds that must love salting capital away in these interest-rate sensitives like CFC, FNM and FRE. Maybe they are getting squeezed. I don't know but I do know that when I hear unsubstantiated rumors like Bank of America to buy out Countrywide Financial, I tend to find other places to bide my time.

Consumer Finance -USA -- Interactive Weekly Data Charts

---

---

Consumer Finance -USA -- Interactive Daily Data Charts

---

---

Consumer Finance -USA -- Interactive Hourly Data Charts

---

Commodities Review

The Commodities Index is back over 300. $CRB lifted +1.85 pct W/W to close at 301.33.

Several weeks ago I noted, "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."

The Fed still talks a great game, but I happen to believe that Jerry Seinfeld had more to say.

When that 200 day MA line is intersected by a rising $CRB, then I'll start paying attention to Ben Bernanke. Until then, I am just going to assume that the Fed talks tough and then accommodates all their friends, which puts sufficient money into the system to push stock and bond prices and precious metals higher.

And as long as Crude Oil and Food prices don't go through the roof, I think precious metals will be allowed (to an extent) to rally.

The 50-Day Moving Average is now 303.56, while the 200-Day MA is 324.14, so 301.33 is really not worrying the Fed.

Interactive Chart of Weekly CRB Commodities Index:

Interactive Chart of Daily CRB Commodities Index:

---

Oil:

$WTIC has jumped +6.50 pct this week! It's now 59.02!

The 50-Day Moving Average is now 58.85, while the 200-Day MA is 66.04.

Big Oil (XOM and CVX) are now making more money than young Texans can count. When do the Dem's start asking them to fund medicare?

Interactive Chart of Weekly Crude Oil:

Interactive Chart of Daily Crude Oil:

---

Gold:

$GOLD gained +0.12 pct to $651.50. The 50d MA is at 638.98 and the more important 200d MA is at 625.07.

Do you recall a couple weeks ago here I wrote: "In any case, I think the $600 level held. But by midway through Friday morning, it was real bad. Then I saw something shining. It happened to be Crystallex, which is gold, and Silver Wheaton, which is, of course, silver."

Yes, that was the cycle bottom. I'm glad you were listening. Now if anybody can tell me how we all can stop talking about Crystallex, please do. I'm about to KRY.

For the final time, there is nothing more to say about KRY until the environmental permit is acquired. Full stop. And please, don't tell me how great Gold Reserve is. They are both in the same boat, and everybody knows the story.

---

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 was flat, closing at 13.38. The 50-day MA $SILVER is now 13.22 and the 200-day MA is 12.28.

I still like SLW and PAAS, but I see that analysts like Silver Standard (SSRI) a lot. I like them all. Silvercorp (my friend Rui Feng) is doing great things in China. I wish they had a full US listing though.

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 dropped -1.48 pct to 1164.00. The 50-Day MA for $PLAT is now 1148.78 and the 200-Day MA is 1183.97.

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.

---

$PALL had a losing week, down -3.61 pct to close at 339.83. The 50-day and 200-day Moving Averages for $PALL are 335.38 and 335.12 respectively, which is pretty flat.

Interactive Chart of Weekly Palladium EOD Continuous Contract Index:
I wrote a little about the platinum miners in Oct-06.

Here is a brief summary of the industry.

The three largest platinum producers are (1) Anglo American (2) Impala, and (3) Lonmin.

Lonmin plc, which, like the others, mines in South Africa, is the world's third largest platinum producer. It is also a significant producer of palladium. The shares trade on the London Exchange under the ticker LMI, presently at 3,065 pounds.

Interactive Chart of Daily Palladium EOD Continuous Contract Index:

Interactive chart of the Palladium metal index.

---

The palladium miners in North America are Stillwater Mining and North American Palladium.

You might also look into Titanium, which is in high demand this year. There are five of them that were reviewed at mineshares.com: (1) Titanium Metals (TIE) (2) Allegheny Technologies (ATI) (3) RTI International Metals (RTI) (4) Kronos Worldwide (KRO) and (5) Valhi Inc (VHI). Alcan Aluminum of Canada is seeking to buy one of these miners.

Yahoo Finance file for TIE
Yahoo Finance file for ATI
Yahoo Finance file for RTI
Yahoo Finance file for KRO
Yahoo Finance file for VHI

StockChart chart for TIE
StockChart chart for ATI
StockChart chart for RTI
StockChart chart for KRO
StockChart chart for VHI

Investertech chart for TIE
Investertech chart for ATI
Investertech chart for RTI
Investertech chart for KRO
Investertech chart for VHI

---

$COPPER has stayed down at 253.50 on the 2,000 lb contracts. It had bounced off this level a couple weeks ago, but dropped back -3.87 pct this week. The 50-day MA is 285.10, and the 200-Day MA is 327.79.

I think the copper over-supply story is somewhat over-done at this point, but the price trend is your friend as the technical analysts say.

---

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
ABX	29.98	-0.31	-1.02%	2.99%	4.79%	1.18%	0.50%	-2.88%	-6.89%	-1.41%
MDG	28.92	-0.89	-2.99%	2.81%	7.23%	13.10%	10.00%	14.76%	1.44%	8.11%
BVN	29.35	-0.02	-0.07%	2.69%	5.61%	7.39%	6.30%	9.51%	-4.68%	9.84%
NEM	44.89	-0.26	-0.58%	1.42%	3.82%	2.02%	1.56%	-2.22%	-14.96%	-26.66%
AUY	13.33	-0.39	-2.84%	0.98%	11.18%	12.30%	8.11%	22.97%	21.62%	48.11%
AEM	39.85	-0.80	-1.97%	0.56%	8.70%	5.45%	2.39%	6.47%	6.38%	56.95%
GFI	16.82	-0.17	-1.00%	0.30%	-0.53%	-4.21%	-8.24%	-2.72%	-26.26%	-29.71%
LIHRY	40.75	0.34	0.84%	0.02%	-10.54%	-7.20%	17.50%	0.59%	-13.85%	70.64%
KGC	13.03	-0.09	-0.69%	-0.08%	5.17%	20.20%	14.10%	-0.99%	7.15%	15.51%
GG	27.22	-0.88	-3.13%	-0.29%	6.45%	2.95%	-0.44%	3.93%	-11.88%	-0.07%

This week, the gold stocks group were doing well until Friday morning when the yellow metal got hammered.

A couple weeks ago I stated, "As the $USD continued to strengthen this week, $GOLD plummeted. Yamana and Goldcorp dropped -9.7 pct and -9.2 pct respectively, and Agnico-Eagle was down -9.3 pct over the past five sessions. (But) $GOLD is down but not out. A week ago Friday, I noted that "prices were mixed, as the $USD gained some strength. Yamana Gold and Goldcorp had solid moves". Over four weeks, the table here shows the damage done to this group. I believe that pullback is now over."

Since then, the metal and the stocks have rallied hard. Friday morning, however, was a take-down day. There will be more of those. But, not to worry. Gold is going higher and so too will the miners.

I believe the average price for gold this year will be north of $700/oz and that in two months, it will be up another +$90. This is not the time to bail on gold or the gold stocks.

The critical point to quit the gold trade is when there is the clear and present danger of global central bank tightening. In the meantime, fiat money " USD, Euro, Pounds, Yen " is depreciating across the board. Since gold is priced in USD, you can see that the gold price jumps when the USD falls. But the push for gold is much more than just the falling USD.

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 RGLD GOLD CDE GRS
Interactive 15-minute data
Interactive 60-minute data
Interactive Daily data
Interactive Weekly data

CBJ SSRI SIL NG KRY UXG GRZ 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
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 also lifted this week. Despite the Friday hit, $XAU, GDX and (TSE's) XGD were up on the week +0.17 pct, +0.33 pct, and +1.46 pct respectively.

The $XAU index, currently at 138.88 (a lucky number), is now close to BOTH the 50d-MA (139.54) and 200d-MA (139.50). That's neutral, but the recent trend is bullish.

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

Weekly U.S. Goldminers Index:

Interactive Chart of Weekly U.S. Goldminers Index:

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:

---

Forex Review

The $USD closed at 84.95, a loss of -0.34 pct W/W. The $USD 50-Day MA is 84.08, and the 200-Day MA is 85.26, so the current price (84.95) is still technically long-term bearish.

The following data requires your attention M3 update as of the past week.

---

Interactive Chart of Weekly U.S. Dollar Index:

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

---

The Euro (priced in USD) gained on the week +0.38 pct W/W, closing at 129.61. The $XEU 50-Day MA is 130.79, and the 200-Day MA is 127.95, so the current price (129.61) is still technically long-term bullish.

The British Pound was also stronger, up +0.37 pct W/W to close at 196.65. The $XBP 50-Day MA is 195.57, and the 200-Day MA is 188.87, so the current price (196.65) is technically bullish.

The Japanese Yen was also stronger, up +0.40 pct W/W to close at 82.57. The $XJY 50-Day MA is 84.31, and the 200-Day MA is 85.85, so the current price (82.57) is technically bearish, but the market is starting to think that the Bank of Japan has pushed the Yen too far down in an effort to help domestic exporters and auto makers like Toyota (TM) that seem to need the support of a falling Yen. They also need more cash in the pockets of U.S. car buyers.

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:

The Canadian Dollar dropped a further -0.39 pct W/W to close down at 84.40. The $CDW 50-Day MA is 86.12, and the 200-Day MA is 88.41, so the current price (84.40) is bearish.

The CAD has been dropping mostly because the U.S.-sensitive economy suddenly hit the wall, close to recession numbers, because of econ problems in the U.S., hurting exporters, and damage to inbound tourism with this idiotic requirement to force elderly people to spend hundreds of dollars on a passport so they can enjoy a trip to Casino Niagara on the Ontario side. The bad weather also hurt the Eastern Canada ski operators for quite a while.

I am starting to hear so-called currency experts on TV talk of a 70 cent and even a 60 cent dollar. The mind boggles at how these idiots get air time.

---

International Equities Review

A couple weeks ago, in referring to the BRIC (Brazil, Russia, India and China), I wrote: "These extreme (equity market) moves on the upside are unlikely to continue should there be any central bank tightening. If there are moves higher like that in the BRIC markets (Brazil, Russia, India and China), then Gold will soar. I feel strongly about this; unless the global equity market is to crash at this point, which I doubt, the central banks will try to keep things afloat by printing more money; but at the first sign that the purse strings are loosened once again I think precious metals will fly. And, yes, I think it will start to happen this quarter."

The Chinese government seems to be the only sensible one of the lot, but then they do have the US Treasurer by the short hairs. What other hairs does the man have?

The rest of these central bankers are sticking their head in the sand, which is good for gold, but pragmatically unwise for the future of stocks and bonds. These banks are way too accommodative, and that is why gold is going to run up here, and why I have been calling for a stock market melt-up.

In the latter case, it's a case of too much money chasing too few pieces of paper (given the extensive share buy-backs and elevated cash dividends). In the case of gold, it's like land in Manhattan; they are making much of it these days.

Asia-Pacific indices (Interactive link)
European indices (Interactive link)

---

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
IFN	45.85	0.35	0.77%	2.99%	2.12%	3.87%	1.12%	0.53%	14.91%	-2.16%
EWZ	48.04	0.05	0.10%	2.21%	4.96%	4.21%	2.87%	13.84%	21.62%	20.55%
IEV	106.90	-0.10	-0.09%	1.97%	1.38%	1.81%	1.23%	6.37%	14.55%	25.32%
SPY	144.81	0.20	0.14%	1.86%	1.39%	2.22%	2.43%	5.87%	13.06%	14.11%
EWU	23.82	0.12	0.51%	1.45%	0.59%	1.36%	1.15%	3.48%	9.67%	21.41%
QQQQ	44.16	0.16	0.36%	1.35%	-0.02%	0.23%	2.13%	5.04%	19.71%	6.59%
EWJ	14.41	-0.09	-0.62%	1.26%	1.55%	0.42%	1.48%	4.57%	5.41%	4.65%
EWC	25.33	-0.25	-0.98%	0.72%	2.30%	4.15%	2.55%	2.55%	4.84%	6.92%
TRF	76.41	-0.17	-0.22%	-0.71%	-1.09%	-5.44%	-13.71%	13.54%	11.79%	15.95%
FXI	103.95	-0.39	-0.37%	-1.47%	-2.26%	-7.44%	-10.70%	20.17%	33.06%	48.27%

---

Japanese equity market ETF: EWJ

Japan's EWJ (which is a USD-denominated NYSE-traded ETF) gained +1.26 pct W/W to 14.41. The declining Money Flow has reversed. Traders everywhere believe that central bank tightening is not too likely.

The EWJ 50-Day MA is 14.31, and the 200-Day MA is 13.77, so the current price (14.41) is technically long-term bullish.

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) had a gain of +1.45 pct W/W to close Friday at 23.82. The EWU 50-Day MA is 23.63, and the 200-Day MA is 22.15, so the current price (23.82) is technically long-term bullish.

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

EWC (priced in USD) had a gain of +0.72 pct W/W to close Friday at 25.33. The EWC 50-Day MA is 25.14, and the 200-Day MA is 24.38, so the current price (25.33) is technically long-term bullish.

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:

A Canadian company I like is Bombardier. Here is the Weekly and Monthly chart.

For the "Bomber", I think it's quite possible that the company is going to be split in two. There was to be a decision by the end of January on the continuance or shut-down of the commercial jet-liner business. These are small regional passenger jets that Boeing doesn't offer, so I think the Bomber is holding out for the best price from Boeing.

The "C-series" has always been a grab at the teat of the Canadian taxpayer, so that kind of largesse is not going to just be shut down. No, I say Boeing is an expert at that game and they need a manufacturing plant in Canada to do it. This is the right play for Boeing, and I think it's going to happen in the next 3 to 6 months.

Bombardier is doing a rock-solid business in selling mass transit systems all over the world. That division is very profitable, and the trend in a world going urban is for mass transit to serve the people rather than pollution spewing automobiles on costly highway systems.

So I think the Bomber is basically going to become a manufacturer of passenger rail cars, and if so, the stock is going to be riding the rails north. It's likely a double and maybe a triple before peaking this cycle. I have an interest in the stock (albeit a tiny one " this is no Cara 100 candidate). These managers couldn't figure out how to drive a ski-doo properly.

---

(Japan, Taiwan, Hong Kong, Singapore)

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

(Canada, Mexico, Brazil, Australia).

---

U.S. Equities Review

All the broad market indexes in the U.S. were up strongly this week.

The S&P500, DJIA, Nasdaq Composite and Russell 2000 small cap index were up +1.84 pct, +1.33 pct, +1.66 pct, and +2.70 pct respectively. Traders now think submitting a Buy order means hitting the "Easy" button.

I am impressed by the percentage of Daily RSI-7 in the >70 range (28 pct on Friday). But I also haven't seen such elevated Monthly-Weekly-Daily RSI-7 values for the broad market indexes in many years.

In fact, it's scary to me that the Dow 30 and S&P 500 Monthly RSI-7 values were nowhere near this high at the absolute top of the last Bull market in 2000.

Here are the RSI-7 values on Friday:

S&P 500: (M) 89.0 (W) 74.3 (D) 71.6
Dow 30: (M) 89.6 (W) 72.1 (D) 65.8
Nasdaq: (M) 73.1 (W) 62.2 (D) 63.9
Russell 2000: (M) 78.1 (W) 68.9 (D) 73.0

Yes, these RSI values can climb from here. But we're at the 15,000 level of Mt. Everest. How many of us think we are equipped to make it to the top?

The Cara mantra: Remember, we trade prices. Watch the tape. It's not always going to be green arrows. Watch the technical support. It can disappear overnight.

---

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
CAT	65.25	0.26	0.40%	6.81%	9.90%	6.97%	6.69%	7.74%	-7.77%	-4.59%
BA	90.05	-1.00	-1.10%	5.41%	1.60%	0.58%	0.99%	13.70%	14.54%	25.59%
T	38.12	0.37	0.98%	4.73%	8.70%	10.49%	9.07%	12.05%	24.66%	43.74%
HON	46.16	0.23	0.50%	4.60%	1.92%	2.40%	2.35%	10.25%	19.55%	19.80%
MCD	44.54	0.06	0.13%	3.75%	-0.60%	2.30%	1.53%	5.92%	25.15%	25.64%
INTC	21.23	0.12	0.57%	3.41%	1.97%	0.28%	4.32%	2.66%	20.76%	0.14%
UTX	68.00	-0.58	-0.85%	2.97%	4.33%	8.16%	8.26%	5.70%	9.17%	17.75%
XOM	75.54	0.46	0.61%	2.62%	2.73%	3.88%	1.93%	6.11%	10.31%	21.94%
JPM	50.93	-0.28	-0.55%	2.47%	4.45%	5.69%	5.95%	8.59%	11.96%	27.36%
HD	40.83	-0.25	-0.61%	2.23%	0.69%	0.64%	-0.58%	9.76%	19.70%	2.18%
DD	50.25	-0.33	-0.65%	2.15%	-1.16%	3.20%	2.47%	10.42%	26.70%	29.21%
PFE	26.80	0.18	0.68%	1.94%	-1.54%	1.59%	1.94%	0.41%	4.65%	3.96%
DIS	35.18	0.17	0.49%	1.82%	-0.90%	2.06%	2.87%	10.98%	18.05%	40.16%
IBM	99.17	0.17	0.17%	1.77%	3.12%	0.87%	1.95%	8.17%	29.94%	22.09%
AA	32.44	-0.36	-1.10%	1.15%	3.31%	11.44%	10.60%	13.82%	9.41%	5.84%
HPQ	42.07	-0.29	-0.68%	0.91%	0.17%	0.94%	1.08%	9.02%	29.45%	36.10%
VZ	38.17	0.17	0.45%	0.90%	2.47%	0.37%	0.93%	3.19%	13.84%	21.02%
WMT	48.08	0.30	0.63%	0.86%	-0.48%	0.63%	1.11%	-0.43%	8.36%	3.89%
KO	48.24	0.14	0.29%	0.86%	-0.04%	-0.74%	-0.70%	3.28%	8.87%	17.00%
JNJ	66.58	-0.43	-0.64%	0.77%	-1.74%	-0.97%	0.27%	-1.94%	5.43%	15.49%
PG	65.34	0.00	0.00%	0.74%	-1.13%	2.01%	1.24%	3.27%	12.09%	9.54%
AIG	69.07	0.16	0.23%	0.70%	-3.22%	-3.41%	-4.27%	3.58%	14.58%	5.50%
GE	36.27	0.04	0.11%	0.55%	-1.84%	-3.92%	-4.48%	4.49%	11.26%	10.24%
AXP	58.16	0.09	0.15%	0.54%	0.12%	-2.94%	-3.64%	1.22%	12.34%	10.65%
GM	32.99	-0.04	-0.12%	0.18%	4.56%	11.30%	12.02%	-4.82%	4.37%	39.79%
C	54.66	-0.07	-0.13%	-0.02%	0.29%	-0.73%	-1.07%	9.89%	12.19%	20.98%
MSFT	30.19	-0.36	-1.18%	-1.34%	-2.96%	1.27%	1.11%	5.05%	24.19%	9.07%
MO	86.56	-0.92	-1.05%	-1.64%	-0.80%	-1.24%	0.06%	6.39%	8.20%	20.17%
MRK	44.73	-0.40	-0.89%	-2.74%	-1.91%	-0.84%	1.61%	-1.48%	9.02%	32.26%
MMM	73.87	-0.12	-0.16%	-6.13%	-6.79%	-5.23%	-5.61%	-6.35%	6.12%	2.38%

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

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

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

---

Dow 30 comments:

Value Line published reports this week on Altria Group (MO) and Coca-Cola (KO).

(MO: Value Line Report Feb. 2)
(KO: Value Line Report Feb. 2)

Altria (MO: $86.56) is a company undergoing re-organization due to the massive lawsuits facing it in the US. The stock is over-priced. The Value Line analyst gives a price range of 80-110 between 2009-2111. On the low end, that's a negative Total annual Return. I'm not a smoker but even if I was I wouldn't take odds like that. Courtroom lawyers are the ones that will love this company. The rest of us should look elsewhere for purchase candidates.

As to Coca-Cola (KO: $48.24), the company is strong financially and likely to continue to thrive in a falling USD environment. But with a Monthly RSI-7 of 75.7, the stock is of no interest to me. The stock was last in the Accumulation Zone at the end of calendar year 205 at just over $40.00. If I could buy the stock at say $40 again and sell it at the Value Line upside 2009-2111 target of 70 in say 12 to 24 months after purchase, I'd be making a good trade.

2007 earnings are projected by VL at $2.50/share, and dividends are likely to be $1.36. At 22 times earnings in a strong market, my target would be $55. So if I could buy the stock at $40, my gain would be +37.5 pct plus a dividend yield of +3.4 pc for a Total Return of +40.9 pct. That's a Warren Buffett type number, so I'd be interested. But at today's price ($48.24), I'm not interested. It's also not a Cara 100, and wouldn't even be close to making a USA 100, so I'd pass.

---

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

---

Altria Group Inc [GICS 30, Dow 30]
(MO: Yahoo Finance file)
(MO: StockChart chart)
(MO: Investertech chart)
(MO: ADVFN Financial Data)
(MO: ADVFN Financial Data)
(MO: Value Line Report Feb. 2: next one is due May. 4)

---

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 Dec. 29: next one is due Mar. 30)

---

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 Dec. 22: next one is due Mar. 23)

---

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

---

Citigroup [GICS 40, Dow 30, Cara 100]
(C: Yahoo Finance file)
(C: StockChart chart)
(C: Investertech chart)
(C: ADVFN Financial Data)(C: ADVFN Financial Data)
(C: Value Line Report 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 Feb. 2: next one is due May. 4)

---

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

---

ExxonMobil [GICS 10, Dow 30, Cara 100]
(XOM: Yahoo Finance file)
(XOM: StockChart chart)
(XOM: Investertech chart)
(XOM: ADVFN Financial Data)
(XOM: ADVFN Financial Data)
(XOM: Value Line Report Dec. 15: next one is due Mar. 16)

---

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

---

General Motors [GICS 25, Dow 30]
(GM: Yahoo Finance file)
(GM: StockChart chart)
(GM: Investertech chart)
(GM: ADVFN Financial Data)(GM: ADVFN Financial Data)
(GM: Value Line Report 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 Jan. 12: next one is due Apr. 13)

---

Home Depot [GICS 25, Dow 30]
(HD: Yahoo Finance file)
(HD: StockChart chart)
(HD: Investertech chart)
(HD: ADVFN Financial Data) (HD: ADVFN Financial Data)
(HD: Value Line Report Jan. 5: next one is due Apr. 6)

---

Honeywell [GICS 20, Dow 30]
(HON: Yahoo Finance file)
(HON: StockChart chart)
(HON: Investertech chart)
(HON: ADVFN Financial Data)(HON: ADVFN Financial Data)
(HON: Value Line Report Jan. 26: next one is due Apr. 27)

---

IBM [GICS 45, Dow 30]
(IBM: Yahoo Finance file)
(IBM: StockChart chart)
(IBM: Investertech chart)
(IBM: ADVFN Financial Data)(IBM: ADVFN Financial Data)
(IBM: Value Line Report Jan. 12: next one is due Apr. 13)

---

Intel [GICS 45, Dow 30, Cara 100]
(INTC: Yahoo Finance file)
(INTC: StockChart chart)
(INTC: Investertech chart)
(INTC: ADVFN Financial Data)
(INTC: ADVFN Financial Data)
(INTC: Value Line Report Jan. 12: next one is due Apr. 13)

---

Johnson & Johnson [GICS 35, Dow 30, Cara 100]
(JNJ: Yahoo Finance file)
(JNJ: StockChart chart)
(JNJ: Investertech chart)
(JNJ: ADVFN Financial Data)
(JNJ: ADVFN Financial Data)
(JNJ: Value Line Report 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 Jan. 19: next one is due Apr. 20)

---

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

---

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

---

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

---

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 Dec. 29: next one is due Mar. 30)

---

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 had planned to get into more details for this report, but the truth is, for the time I put into it, things went very quickly. So without further ado, I'll get onto other things on my "to-do" list, which I actually plan to do now that I'm feeling better (not perfect, but much better).

Enjoy your day. Wherever you are in the world, I have a feeling we are on the same page.

---

BCara@BillCara.com