Very importantly, I was able to restore my ch'i, at the Starfleet Presidio (Nassau Bahamas).

Colin Twiggs, has re-affirmed our coordinates: “Having passed its target of 1430 ( 1325 + [ 1325 - 1220 ]) the S&P 500 is headed for a test of its former high of 1500. Expect strong resistance. Probability of a secondary correction (or large consolidation) is increasing as the rally has extended a long way from its base. Twiggs Money Flow (21-day) shows short-term accumulation, but a long-term bearish divergence.” I shall explain later.

On this week’s trip, I’m pleased to say I validated my belief that there is a fundamental relationship between cause and effect, ie, in the notion of causality, which I have often explained in my Commander's Log as the precept on which I have constructed an entire approach to trading, ie, around market structure and the celestial drivers that push and pull prices.

I can also confirm that an emotional judge in Ft. Lauderdale has ordered that our Anna Nicole be returned to the Presidio to be buried with her beloved and dearly departed son. All's well that ends well.

So, today I say to you with confidence that I reject the hypothesis of Prof. John F. Sowa, who posited in this new millennium that "relativity and quantum mechanics have forced physicists to abandon (basic relativity of time) assumptions as exact statements of what happens at the most fundamental levels." Nonsense. I was able to go and return on WestJet.

In layman’s terms, that simply means that on my travels this week I discovered that Prof. Bernanke is clearly not Superman. He cannot, with a single bound, leap over the world’s credit balloon. In fact, he may not be able to do it at all. And, he only seems faster than a speeding bullet because he operates covertly. As for his being more powerful than a locomotive, I suggest he look carefully at Canada’s Bombardier trains being purchased in great numbers by Europeans, and paid for in Euro’s.

I was able to confirm all this to Starfleet headquarters. Now I can relax and spend the day looking at global stock and bond markets, which is my greatest passion.

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Global Market Summary

International Equities: There were signs this week of weakness in the stocks of some of the emerging economies. But Tokyo, London and Toronto stayed strong.

U.S. Equities : The Russell small cap (+1.0 pct) and Nasdaq (+0.8 pct) were up while the Dow 30 (-1.0 pct) and S&P 500 (-0.3 pct) were down. It was a short week, but contained three days of selling in many sectors, including the Financials.

Dow 30 : This week it was 7 up (not 27 like last week) and 23 down. Last week’s three losers (MSFT, PFE and JNJ) were also in the worst eight losers this week. The worst nine in fact lost more than -2.0 pct on the week, which is a lot. Hewlett-Packard (HPQ) dropped -4.4 pct, and GM -6.0 pct on the week. But Wal-Mart (WMT), DuPont (DD) and McDonalds (MCD) were up +2.5 pct, +2.4 pct and +2.3 pct respectively.

U.S. Sector ETFs: After a week earlier when there were 9 ETF up and 1 down (XLE), this week it was 5 up and 5 down. I was down too – in Bahamas, enjoying the rally in Precious Metals. This week the Basic Materials (XLB), which includes the metals and the chemicals etc was sector out-performer #2. A week ago it was #1.

First segment: most influenced by global commodities, forex and capex spending
10: Energy (XLE): #4 (+1.1 pct); Crude futures soared to 61.14
15: Basic Materials (XLB): #2 (+1.4 pct); Excess cash chasing the metals
20: Industrials (XLI): #8 (-0.6 pct); GE must be a concern to the Bulls
Second segment: most influenced by U.S. consumer spending and economic growth
25: Cons. Discretionary (XLY): #7 (-0.3 pct); Whole loss taken Friday
30: Cons. Staples (XLP): #6 (-0.2 pct); Quiet week
35: Healthcare (IYH): #9 (-1.1 pct); PFE, JNJ & AET were 3 of 7 worst
Third segment: most influenced by U.S. interest rates and general economic health
40: Financial (XLF): #10 (-1.2); Friday dropped -0.93 pct
45: Tech (SMH chips): #1 (+3.1 pct); Chips cooking, but tech was burned
50: Telecom Service (IYZ): #5 (+0.2 pct); Quiet
55: Utilities (XLU): #3 (+1.3 pct); Private equity & TXU raised the stakes

Bonds: U.S. Bonds had a modest gain on the week as the yields on the 30-year, 10-year, 5-year and 2-year Treasuries dropped -1, -2, -1 and -2 basis points (bp) respectively. The 3-Month Treasury Bill yield stayed at 5.01 pct. Although Bonds have rallied 5 straight weeks, yields are still a tad higher than the final week of 2006.

Commodities: $CRB lifted +2.6 pct W/W to 314.63. The concern here is that the 200-day Moving Average is close by at 320.78. Once the $CRB crosses above the long-term MA, then I suspect the FOMC won’t be so eager to drop or even hold rates at current levels. As long as the stock market doesn’t crater, the Fed will not drop rates, I believe.

Oil & Gas: $WTIC futures were up +2.14 pct W/W to 61.14. We are still freezing in the North East.

Gold: $GOLD, $SILVER, $PLAT and $PALL all had solid gains on the week, up +2.1 pct, +5.3 pct, +2.3 pct and +4.9 pct. The metals story this week was once again in Copper, where the futures jumped +7.3 pct after being up +5.6 pct the prior week.

Goldminers: $XAU, GDX and XGD (TSX) were up +1.9 pct, +2.2 pct, and +1.5 pct respectively W/W. Silver, palladium and copper had big days on Friday.

Forex: On Friday, the $USD dropped a huge -0.34 pct but was down only -0.04 pct W/W. The Euro gained +0.3 pct and the Pound was up +0.66 pct W/W. The Yen was this week’s big currency story as it plunged -1.48 pct after the week earlier gaining +2.0 pct. On Frday, however, the Yen jumped +0.38 pct.

Economic calendar for next week.

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Cara Stock Watch

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

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This next summary might help those traders who are watching for a possible breakdown of the market’s highest flyers. These are the only Cara 100 stocks that have an RSI-7 above 70 for the Monthly, Weekly and Daily price series. I believe that the key is when the 70 level is broken on the downside by the Daily AND the Weekly. And if that happens, I look more closely at MACD and STO on the Daily and Hourly for evidence of a possible trend reversal.

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Interactive link to Friday Daily unsmoothed RSI-7 >70 in Cara 100 (12 of 25, which is up from 20 a week ago and well above the 8 we had two weeks ago.)

Interactive link to Friday Daily unsmoothed RSI-7 <30 in Cara 100 (9, which is up from just 1 a week ago and back to the 9 we had two weeks ago.)

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The upward momentum reversed itself again this week and is looking soft. There is a real fight between the Bulls and the Bears at the moment. For the most part, the quarterly earnings reports were up to expectations, but guidance for next quarter is not so hot.

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Here are the Cara 100 gainers on Friday.

Interactive chart of the top 12 Watch List gainers

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Here are the top Cara 100 losers for Friday.

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

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Here are the three Cara 100 companies whose stocks hit 52-week highs during the day Friday.

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Here are the Cara 100 companies whose volume on Friday exceeded the average daily volumes. This is important data for the Money Flow indicator, which combines the uptick and downtick volume with the price move. Traders who follow this data believe that volume changes precede price changes. I agree with that notion, particularly in the micro-cap market where you need to watch the promoters like a hawk.

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Sector ETF Review

As you know, with President’s Day, this was a shortened week. That means the five-day week calculations may get messed up. So please don’t be too critical where there are discrepancies in the data. Some of the programs used the 4-day week and others the latest 5 days.

It’s a technology thing that I’m not going to worry too much about. I’m more concerned why my ISP server is giving me problems again this week.

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, 5 of 10 were up and 5 down this week, with Financials (XLF) being the big loser, and Chips (SMH) the big winner. Tech, however, was generally weak.

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
SMH	35.56	0.16	0.45%	3.07%	3.49%	5.99%	5.93%	0.11%	9.75%	-4.05%
XLB	38.40	0.15	0.39%	1.35%	4.43%	6.37%	10.95%	9.56%	21.02%	21.40%
XLU	38.67	0.44	1.15%	1.28%	2.00%	6.41%	5.02%	7.24%	13.17%	19.24%
XLE	58.65	0.15	0.26%	1.14%	0.03%	3.42%	3.66%	1.72%	2.84%	10.70%
IYZ	31.02	-0.02	-0.06%	0.16%	0.68%	2.82%	4.59%	9.53%	17.95%	23.68%
XLP	26.82	0.02	0.07%	-0.19%	0.98%	0.98%	2.05%	3.83%	6.64%	12.69%
XLY	39.85	-0.09	-0.23%	-0.25%	0.05%	2.13%	3.45%	4.46%	22.96%	18.92%
XLI	36.60	-0.10	-0.27%	-0.57%	1.69%	3.54%	3.89%	2.98%	14.02%	12.20%
IYH	68.42	-0.11	-0.16%	-1.11%	-0.58%	0.66%	2.95%	3.81%	7.34%	5.68%
XLF	37.30	-0.35	-0.93%	-1.24%	-0.56%	1.44%	1.03%	3.01%	12.01%	13.65%

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 because the list of ETF’s growing incredibly fast.

I’m going to write something on ETF’s for Sunday evening. I favor ETF’s because (i) they offer risk diversification at a cost that is much less than mutual funds, and (ii) I like to time the Accumulation and Distribution point of cycle.

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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)

This week, XLE gained +1.14 pct to 58.65, while $WTIC (Crude futures) gained +2.14 pct to $61.14.

The oil share prices are relatively weaker than the Crude Oil price for the past three weeks because traders are figuring that exogenous factors (like random political events) are involved in keeping oil prices high.

XLE really hasn’t moved up or down much since last April.

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

XLE Monthly data:

XLE Weekly data:

XLE Daily data:

XLE Hourly data:

Table 2: Senior oil & gas equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
PBR	95.61	-0.04	-0.04%	2.20%	-1.00%	-1.01%	-4.06%	4.86%	7.03%	6.66%
STO	26.55	0.45	1.72%	0.99%	1.61%	4.49%	3.35%	-0.38%	-5.21%	3.67%
XOM	75.22	0.14	0.19%	-0.16%	-0.32%	2.31%	1.50%	3.17%	8.03%	25.72%
CVX	71.07	0.40	0.57%	-0.41%	-3.63%	-0.63%	0.14%	2.11%	8.21%	24.38%
IMO	36.34	-0.26	-0.71%	-0.44%	1.79%	6.20%	1.91%	-0.71%	-6.32%	-62.11%
TOT	69.57	0.24	0.35%	-0.83%	1.12%	4.15%	-1.97%	-1.33%	1.35%	9.30%
CEO	82.85	-0.68	-0.81%	-0.87%	-2.33%	-3.16%	-12.11%	-4.35%	-4.22%	-2.43%
SU	73.62	0.30	0.41%	-0.93%	1.24%	0.27%	-0.39%	-3.51%	-8.26%	-2.02%
ECA	48.29	0.45	0.94%	-1.89%	-1.02%	3.16%	6.51%	-5.13%	-11.93%	14.95%

The oils were largely down, which makes it surprising that XLE was up over +1.1 pct.

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Integrated Oil & Gas - Canada

Oil & Gas Exploration & Production -Canada

The three Cdn oils (ECA, SU and IMO) were down a bit.

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

The Basic Materials ETF (XLB) rallied again this week, going up +1.35 pct to be the #2 performer of my 10 ETF’s. XLB closed at 38.40.

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
MT	52.14	0.20	0.39%	4.07%	9.70%	14.72%	27.79%	23.53%	59.84%	53.22%
RTP	230.37	4.79	2.12%	3.93%	8.17%	7.94%	12.87%	9.86%	11.59%	17.48%
PKX	98.86	-0.91	-0.91%	3.52%	8.85%	15.19%	24.46%	28.62%	60.23%	70.95%
RIO	36.69	-0.41	-1.11%	1.58%	8.84%	12.10%	27.31%	35.99%	75.63%	51.49%
BHP	46.30	0.40	0.87%	1.40%	6.29%	14.77%	19.11%	12.76%	8.89%	26.50%
AA	35.08	0.33	0.95%	1.07%	7.48%	11.47%	19.60%	15.28%	21.26%	16.58%
TS	47.77	0.34	0.72%	0.82%	0.99%	2.62%	-1.55%	3.98%	29.07%	51.99%
GGB	18.50	-0.33	-1.75%	-1.02%	6.32%	12.87%	12.67%	18.82%	29.46%	-18.39%
NUE	64.41	-1.00	-1.53%	-1.36%	1.64%	2.81%	18.18%	8.53%	28.10%	49.20%
TCK	74.08	-1.17	-1.55%	-1.49%	4.85%	2.48%	6.97%	-0.04%	6.53%	0.00%

Some of the moves in the metals and steels this week were excellent, and the losers in my list were merely taking a breather from the week earlier exciting lift.

As I wrote previously, “What is happening is really too much money chasing quality asset plays. The corporate finance departments of Wall Street are working over-time trying to pull off as many take-overs and mergers as possible before the balloon pops. I think the cycle is not yet over, but getting very over-bought. The other thing that is happening is that high metals prices, which are being driven by rapid expansion in the (2.6 billion population) emerging BRIC economies, are throwing off huge profits and cash flow. There are huge share buy-backs and dividend increases in this sector. But the sweet spot of the sector will likely come to a close this year or early next year, well ahead of the Summer Games of 2008 in Beijing.”

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

The Industrials and Transport sector ETF (XLI), aka capital goods producers, was down -0.57 pct W/W to close at 36.60. Fedex (FDX) is carrying the freight, flying the Transports to a new high, keeping the Bull market technically stable.

Yes, I think we’ll see $750+ gold, $70 oil, and a $325 CRB before this game comes to a screeching halt.

As I wrote previously, “As long as I see GE not making a Bull move (remember CEO Jeff Immelt sits on the NY Fed Board of Directors), I don’t think it’s wise to chase stocks this late in the cycle. I also think these industrial conglomerates and transports are in rally mode because of lay-offs, restructurings, share buy-backs, excessive dividends, M&A, pressure from private equity (which is really your debt – or soon will be -- and their equity), etc. If the manufacturing sector in the US was the healthy component of the GDP, and not the services sector, I might agree that there is a trading rationale for the rally in this sector.”

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

XLI Monthly data:

XLI Weekly data:

XLI Daily data:

XLI Hourly data:

Table 4 Senior capital goods makers and transportation:

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
FDX	120.97	1.96	1.65%	3.14%	6.35%	9.42%	10.20%	1.97%	21.99%	13.34%
ERJ	45.80	-0.25	-0.54%	0.93%	3.53%	13.25%	12.31%	8.43%	26.41%	17.41%
HON	47.69	-0.50	-1.04%	0.25%	2.40%	7.90%	5.74%	10.88%	22.91%	15.11%
CAT	67.26	-0.52	-0.77%	-0.53%	2.48%	12.80%	9.97%	7.12%	0.07%	-7.04%
MMM	76.21	-0.14	-0.18%	-0.91%	2.10%	-3.54%	-2.62%	-6.46%	8.35%	3.48%
BA	90.28	-0.30	-0.33%	-1.56%	0.85%	4.78%	1.24%	0.20%	18.23%	22.17%
UTX	67.55	0.05	0.07%	-2.00%	-0.73%	2.02%	7.55%	2.68%	11.16%	15.37%
GE	35.10	-0.30	-0.85%	-2.88%	-1.79%	-3.41%	-7.56%	-2.47%	3.88%	5.53%
ABB	17.85	-0.07	-0.39%	-3.41%	-3.41%	1.19%	0.17%	10.19%	34.62%	50.25%

While FDX was strong (which I believe is due to international ops, UPS is still hanging back. I believe UPS is a better indicator of the strength or weakness of the US economy, but that’s just a guess.

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

The Consumer Discretionary sector ETF (XLY) was down -0.25 pct W/W to close at 39.85, but the nickel loss came all on Friday.

As I say, “From 31 to 40 is mighty impressive. But how long can this Consumer Discretionary sector continue to rally?”

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	108.04	-0.19	-0.18%	2.40%	4.50%	12.73%	10.62%	11.35%	40.59%	24.80%
BC	34.08	-0.20	-0.58%	2.34%	0.95%	2.19%	6.77%	3.02%	18.09%	-14.00%
DIS	35.14	-0.02	-0.06%	1.36%	-0.43%	0.57%	2.75%	6.52%	20.38%	26.81%
EBAY	33.99	0.30	0.89%	0.95%	1.19%	4.75%	12.66%	0.35%	25.94%	-17.56%
WHR	93.35	-0.26	-0.28%	0.81%	3.15%	5.61%	10.26%	8.52%	16.66%	3.04%
TM	135.50	-0.15	-0.11%	-0.93%	2.57%	2.89%	0.15%	13.21%	22.95%	25.74%
SBUX	32.74	-0.27	-0.82%	-1.50%	-2.03%	-3.56%	-7.12%	-10.01%	10.57%	-9.48%
JCP	84.05	0.66	0.79%	-2.11%	0.72%	2.66%	7.67%	3.51%	26.85%	46.58%
CCL	47.61	-1.02	-2.10%	-2.16%	-3.95%	-7.88%	-6.56%	-5.87%	21.39%	-7.64%

Nike (NKE) was up yet again! The stock is up +12.7 pct in four weeks and +40.6 pct in six months. Now that is running.

Brunswick Corp (BC) was also a big winner on the week, going up +2.3 pct.

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

The Consumer Staples sector ETF (XLP) lost -0.19 pct W/W to close at $26.82.

Whole Food Markets Inc (WFMI), where I’m off to for a 10am meet-up, and Wal-Mart (WMT), where I’m not, were the big winners this week.

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	50.47	-1.64	-3.15%	9.57%	11.34%	17.26%	10.97%	2.29%	-4.12%	-21.23%
WMT	49.57	-0.12	-0.24%	2.50%	2.61%	2.95%	4.25%	3.21%	13.28%	8.47%
PEP	64.58	-0.08	-0.12%	0.78%	2.01%	0.25%	2.97%	3.26%	0.80%	8.25%
DEO	82.06	0.64	0.79%	-0.21%	3.62%	4.48%	3.18%	7.54%	13.78%	33.11%
PG	64.82	0.11	0.17%	-0.26%	0.36%	-0.15%	0.43%	1.85%	6.40%	5.43%
MO	85.38	0.54	0.64%	-0.81%	0.19%	-2.81%	-1.31%	1.50%	2.04%	16.35%
KO	47.26	-0.04	-0.08%	-1.23%	-1.25%	-1.42%	-2.72%	0.34%	6.63%	12.44%
WAG	45.32	-0.29	-0.64%	-1.69%	-0.96%	0.40%	-1.63%	10.43%	-6.46%	-1.44%
BUD	50.05	-0.34	-0.67%	-3.29%	-0.28%	-2.00%	1.69%	7.59%	2.46%	19.34%
ABV	52.33	-0.98	-1.84%	-3.33%	1.32%	2.91%	6.58%	12.73%	23.01%	23.13%

A week ago I wrote, “Whole Foods Markets Inc (WFMI) lifted by +1.0 pct this week to close at $46.43, which makes it the top performer of this group in the past 4 weeks.”

Well, this week, WFMI rocketed +9.6 pct for a 4-week gain of +17.3 pct!

When a stock moves so quickly, traders need to read up on the reasons (In this case it was a take-over of the company’s largest competitor), and study the charts to determine the prospects for further gain. The best trading tactic is to wait until the stock runs into the first significant resistance and then sell in order to protect that gain.

In this case, at the 51-52 level on Thursday in the hours following the announcement, the charts showed after 1 pm ET (i) a drop-off of volume (ii) an RSI-7 that fell back through the 70 level on the 10-minute chart (iii) a cycle peak of the RSI at 1 pm that was short of the prior peak, (iv) a negative cross-over of the MACD, and (v) (15 period) Stochastics that dropped below 70.

Had I been watching WFMI at that minute (rather than sitting at a table in the courtyard at Matisse in Nassau), I would have been a seller.

The RSI-7 on the 10-minute data series closed the week at 27.3 (with WFMI at $50.47), which makes me think there will be a small recovery on Monday morning of maybe $0.40 (a guess). I’d be a seller when the Stochastic next reaches above 80 and then pulls back to 70.

As a rule, I don’t trade by price point. Like a pilot who flies by instrument, I’m guided by the indicators.

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

The IYH healthcare ETF gained +0.51 pct W/W to close at 68.88, despite losing -0.45 pct on Friday.

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
AET	46.06	-0.07	-0.15%	2.26%	7.29%	12.07%	7.42%	11.50%	26.61%	-11.96%
BMET	42.39	-0.09	-0.21%	0.09%	0.02%	1.00%	2.22%	11.14%	32.68%	16.46%
UNH	53.03	-0.69	-1.28%	-1.08%	3.49%	1.79%	0.88%	13.90%	6.83%	-10.80%
GSK	56.92	0.56	0.99%	-1.27%	1.93%	3.77%	5.78%	10.42%	5.58%	10.05%
DNA	85.49	-0.02	-0.02%	-1.58%	-1.79%	-2.25%	4.51%	5.71%	5.44%	2.75%
NVS	58.65	0.76	1.31%	-1.76%	-0.03%	0.67%	0.88%	0.00%	3.26%	7.81%
JNJ	64.15	-0.63	-0.97%	-2.49%	-2.45%	-3.79%	-3.39%	-3.92%	0.38%	9.49%
BMY	27.05	-0.04	-0.15%	-2.59%	-5.75%	2.93%	2.54%	9.38%	25.06%	16.59%
AMGN	66.23	-0.51	-0.76%	-3.00%	-5.09%	-11.52%	-3.17%	-8.87%	-1.62%	-11.33%
PFE	25.62	-0.25	-0.97%	-3.43%	-3.10%	-2.81%	-2.55%	-5.46%	-5.60%	-1.99%

Pfizer (PFE), Merck (MRK) and Johnson & Johnson (JNJ) were all losers on the week. This group peaked in the 3rd week of January as shown in the following charts.

Daily

Weekly

Presently, these large caps in the healthcare sector (NASCAR fans can say they drive the 35 car while the Financials drive the 40 car, the Oils the 10 car and so forth) are over-sold. They will either snap back soon for a short rally or they will red flag the 35 car (IYH).

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

The Financials ETF (XLF) lost -1.24 pct W/W, closing at 37.30. Most of the loss (-0.93 pct) was on Friday – when the metals (silver, palladium and copper) were on a tear.

When metal prices soar, there is a concern that central banks will hike rates (to hold econ growth and inflation back), which will hurt the profits of the lending banks and may cause a pull back in trading volumes and prices, which will also hurt the profits of the investment banks. That happened on Friday, and I saw that readers took note of Jim Cramer’s (legitimate) concern.

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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
CSR	59.15	-0.11	-0.19%	2.76%	6.25%	7.66%	10.87%	15.73%	-1.00%	40.13%
GS	216.50	-2.47	-1.13%	-0.15%	1.22%	1.61%	7.86%	7.02%	41.78%	50.39%
JPM	51.03	-0.61	-1.18%	-0.35%	0.20%	1.63%	6.16%	7.23%	12.10%	24.13%
DB	139.90	0.60	0.43%	-0.58%	0.27%	2.12%	3.37%	5.56%	24.48%	24.41%
C	53.77	0.18	0.34%	-0.81%	-1.23%	-0.30%	-2.68%	5.91%	10.68%	14.89%
HBC	88.75	-0.51	-0.57%	-1.03%	-1.15%	-3.49%	-4.54%	-5.97%	-0.56%	5.14%
UBS	61.73	0.09	0.15%	-1.06%	-3.58%	-0.93%	0.55%	0.47%	9.59%	12.67%
MS	80.97	-1.78	-2.15%	-2.23%	-2.23%	-1.52%	-0.80%	2.23%	18.99%	33.06%
MER	89.04	-2.46	-2.69%	-4.87%	-5.64%	-6.49%	-4.88%	-3.46%	18.64%	16.33%
LEH	79.04	-2.99	-3.65%	-5.10%	-6.37%	-2.37%	0.52%	1.62%	20.49%	7.54%

The Daily price data chart of the XLF has been zooming since July as the Fed has tried printing its way out of problems in US housing and manufacturing. But the breakdown of the 40 team is becoming obvious as Merrill (MER), Lehman (LEH) and Citi (C) cars are in the pits and JP Morgan (JPM) and Goldman Sachs (GS) are experiencing problems on the track and may be waved in shortly.

As for the Swiss bankers, it appears that UBS (UBS) peaked earlier this month and Credit Suisse (CS) did the same a week ago.

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

The semi-conductor ETF (SMH) continued to bounce. A week ago SMH was up +1.68 pct to close at 34.47. This week it lifted again strongly to 35.56.

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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
QCOM	43.36	0.57	1.33%	4.96%	13.33%	13.63%	15.75%	16.09%	18.31%	-7.61%
ADBE	40.63	-0.18	-0.44%	3.57%	6.78%	3.89%	1.78%	-2.82%	25.36%	4.80%
CTSH	94.59	0.21	0.22%	0.13%	0.64%	13.53%	21.64%	17.84%	36.77%	66.74%
CSCO	27.51	0.11	0.40%	-0.22%	-2.27%	4.92%	-0.83%	2.23%	30.63%	39.50%
ADSK	42.47	0.34	0.81%	-0.33%	0.54%	0.47%	4.71%	2.49%	26.02%	15.56%
ORCL	16.82	-0.45	-2.61%	-0.36%	0.60%	-1.00%	-3.94%	-14.40%	9.72%	35.65%
INTC	20.76	-0.21	-1.00%	-2.58%	-2.76%	0.78%	2.01%	-4.46%	12.89%	2.32%
SAP	45.88	-0.39	-0.84%	-3.04%	-1.18%	-1.04%	-13.76%	-13.02%	-1.50%	-11.57%
INFY	57.69	-1.51	-2.55%	-3.22%	-4.66%	1.64%	3.35%	6.58%	32.53%	63.61%
SNDK	38.60	-0.35	-0.90%	-6.20%	-7.70%	-7.19%	-7.48%	-18.77%	-23.79%	-32.85%

The chips may have been cooking this week, but it looks to me some of the tires are going flat the 45 car.

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Sector 50 (telecom: IYZ, VOX and IXP)

The U.S. telco sector ETF (IYZ) was very quiet this week, closing at 31.02, which is up a penny.

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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 up +1.28 pct W/W to close at 38.67. Of course, with all the excitement related to TXU, the gain on Friday (+1.15 pct) took care of the week.

I recall my opinion quite a long time ago that XLU would not see the north side of 33-34. WRONG.

Consider what’s happening here. Thank goodness for blogs because it means we keep a running log of market events, which we can use for review.

A week ago in the WIR, I reported, “Public Service Enterprise (PEG) has jumped +4.34 pct this week and almost +20 pct in the past 100 days or so. Is that a sustainable move?” Hmmm, PEG jumped a further +3.66 pct this week, and is now up +10 pct in the past month. So, what is really going on here? Is Public Service Enterprise really part of the new Nifty Fifty? I think I’ll put in a call to Erin Brockovich. Maybe she’ll dig up some poop?”

Well the poop came from so-called “Private Equity”, which had been mounting a $32 billion buy-out of Texas Utilities (TXU). This private vs public equity thing is now totally out of control. The amount of illegal insider trading is downright ridiculous, and nobody at the SEC seems to care much. I wonder why?

Oh, the credit balloon keeps building and building, and the rich insiders get richer because, guess what, they are transferring that debt from private to public.

These Big Swinging Dicks might own $50 million personal jets, but they cannot personally write checks for 32 billion. Not even when two or three of them sit around the table.

So what’s going to happen when interest rates pop? I’m guessing that some of these deals will fail, and then Mom & Pop will discover their retirement plans will have to be put on hold for another five to ten years because their pension fund manager was an unwitting counter-party in the mess. Oh the law suits I can see coming.

If all this seems to be a blur, then I recommend you go to a bookstore today and purchase a copy of Michael Panzner’s brand new book “Financial Armageddon”. The sub-title is, “Insights on debt, derivatives, government guarantees, the retirement system, and the coming economic unraveling.” My comments are on the book jacket.

Michael has a website by the same name: www.financialarmageddon.com

You know, if it were not for the incredibly rich trying to become incredibly richer, the US would not be staring down a potential crisis in the order of the Great Depression. As the Chinese expression goes, these are interesting times.

Buying control of an electric power utility makes a lot of sense. People who can’t pay have their electricity cut off. I guess if you are Private Equity, it makes a good business model. But, I’m thinking those people will need the National Guard for personal protection at some point.

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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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Bond & Interest Rate Review

This was a quiet week for US Treasury bonds as the yields dropped just one or two basis points (bp).

The yields dropped -1, -2, -1, and -2 bp to 4.78 pct, 4.65 pct, -4.64 pct and -4.78 pct respectively on the 30-year, 10-year, 5-year and 2-year paper.

And, the T-Bill yield remained at 5.01 pct, so the yield curve dipped again, although marginally.

A week ago I wrote, “As long as yields continue to fall (or even stay flat), stocks and bonds will remain strong with the occasional rally. But, if the economy doesn’t pick up, the inverted yield curve and the high price of commodities (oil, metals, etc) will begin to hurt those stock and bond prices, which after all cannot rise on hot air without being called balloons.”

A rising share price for Fedex (FDX) should not be interpreted as an economy growing stronger.

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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	5.01	5.02	5.01	4.97
6 Month	4.93	4.94	4.92	4.94
2 Year	4.78	4.84	4.80	4.91
3 Year	4.68	4.75	4.68	4.83
5 Year	4.64	4.70	4.65	4.79
10 Year	4.65	4.71	4.67	4.79
30 Year	4.78	4.83	4.79	4.89

Municipal Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	3.75	3.74	3.71	3.57
2yr AAA	3.59	3.60	3.57	3.64
2yr A	3.63	3.64	3.55	3.62
5yr AAA	3.66	3.65	3.60	3.64
5yr AA	3.57	3.59	3.57	3.65
5yr A	3.70	3.69	3.64	3.72
10yr AAA	3.81	3.84	3.71	3.75
10yr AA	3.75	3.76	3.71	3.75
10yr A	4.12	4.14	4.01	4.05
20yr AAA	4.11	4.13	4.09	4.12
20yr AA	4.08	4.09	4.04	3.88
20yr A	4.04	4.09	4.06	4.13

Corporate Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	5.05	5.11	5.06	5.19
2yr A	5.13	5.19	5.13	5.26
5yr AAA	5.09	5.16	5.08	5.17
5yr AA	5.15	5.21	5.16	5.27
5yr A	5.19	5.24	5.20	5.34
10yr AAA	5.36	5.43	5.38	5.65
10yr AA	5.43	5.48	5.43	5.55
10yr A	5.48	5.51	5.49	5.59
20yr AAA	5.73	5.81	5.87	5.87
20yr AA	5.81	5.89	5.95	5.95
20yr A	5.87	5.95	6.00	6.01

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Interactive Chart of Interest rates and bond yields.

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TLT had a good five days, up +0.58 pct to 88.84, but the gain was just +0.23 pct this shortened week, and all of that and much more was earned on Friday after TLT jumped +0.70 pct on the day.

Two weeks ago, I wrote: “The inflation-sensitive TIP had a good bounce on Friday afternoon. Let’s see what Monday brings.” Well, the TIP dipped on Monday, stayed flat on Tuesday and then went up on moon shots on Wednesday and Friday, as metals prices (including copper) started screaming hot.

This week, the TIPs were up again.

I’d be extra cautious with interest-rate sensitive holdings.

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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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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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The charts for the Bonds are technically bullish, but not so much I want to be a buyer of them.

I also noted where PIMCO’s Bill Gross (world’s biggest bond trader) issued a warning.

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
FNM	59.49	-0.66	-1.10%	0.83%	5.42%	5.16%	-0.62%	2.45%	20.99%	4.11%
TIP	99.84	0.29	0.29%	0.72%	0.85%	1.44%	0.61%	-0.31%	-1.66%	-2.64%
TLT	88.84	0.62	0.70%	0.58%	0.78%	2.14%	-0.26%	-1.79%	1.94%	-2.58%
IEF	82.75	0.27	0.33%	0.23%	0.55%	1.16%	0.08%	-0.77%	0.85%	-0.18%
AGG	100.29	0.24	0.24%	0.15%	0.33%	0.75%	0.38%	-0.35%	1.05%	0.05%
SHY	80.18	0.09	0.11%	0.12%	0.29%	0.28%	0.17%	-0.09%	0.19%	0.17%
FRE	65.00	-0.69	-1.05%	-1.80%	0.78%	0.78%	-4.26%	-4.65%	5.18%	-4.21%
CFC	39.33	-0.81	-2.02%	-5.95%	-9.77%	-2.38%	-6.60%	-2.77%	17.97%	12.24%

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 Review

The Commodities Index ($CRB) jumped this shortened week +2.58 pct W/W to close at 314.63. The reason the price lifted so much was largely on account of a run up in the price of Crude Light ($WTIC). The metals prices play a much smaller part in the $CRB index, but they ran up this week as well.

I have opined previously, “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 of $CRB is now 300.91, while the 200-Day MA is 320.78 (if you can trust the data at StockCharts), so 314.63 is possibly starting to concern the Fed. I am now seeing a possible problem here with credit tightening.

I opined previously that I would be concerned if and when Crude hits $70 and Gold goes to $750, which are my cycle targets. Well, Crude is now up to 61.14 and Gold at 686.70. I believe that sometime before the market reaches my cycle high targets, the Fed will begin to take action to rein in credit used for purchase of securities and commodities.

I am guessing that when the $CRB reaches 325; the Fed would have to address the inflation issue by specific policy action, and not merely via empty words. So, I am expecting to see bond yields begin to turn north soon, which will hurt Bonds, Mortgage Backed Assets (MBA), real estate, commercial bank lending, and so forth.

As for $CRB, there was a cycle bottom in mid-Jan. at 301.13 and a previous high of 322.56 at the end of November. The present 314.63 price level is in the upper half of the cycle now.

Interactive Chart of Weekly CRB Commodities Index:

Interactive Chart of Daily CRB Commodities Index:

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Oil:

$WTIC jumped from 59.86 to 61.14.

The 50-Day Moving Average (from StockCharts) is now 58.26, while the 200-Day MA is 65.15.

A week ago, I wrote, “We may see Oil into the 60’s, but there doesn’t seem to be either enough speculative enthusiasm or cold weather or supply shut-downs or $USD weakness or economic strength in the US to drive prices back to $70.”

I still hold to that view, but the price is moving in that direction and could blow up overnight.

A week ago, the short-term cycle low was 51.03 in mid-January and the cycle high was 60.80. The market took out that cycle high this week.

Interactive Chart of Weekly Crude Oil:

Interactive Chart of Daily Crude Oil:

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Gold:

This week, $GOLD gained 13.90 (+2.07 pct) to 686.70. The 50d MA is at 642.97 and the more important 200d MA is at 625.67. So technically $GOLD is very bullish.

A week ago, I wrote, “The cycle bottom was 603 (for the near futures) in early January and on Wednesday this week we hit a (possibly interim) short-term cycle high of 676.60. It’s possible $GOLD may move back through that level to establish a higher cycle high. That depends on $USD strength in the following days.”

On Friday this week, the $USD weakened -0.34 pct, closing at 84.04, down -0.04 pct on the week from 84.07. The USD seems to be holding up well despite the bullish moves in oil and the metals prices.

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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.

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$SILVER jumped +5.33 pct W/W, closing at 14.74. The 50-day MA $SILVER is now 13.26 and the 200-day MA is 12.32 (although I don’t trust this data at StockCharts).

A week ago I wrote, “There was a short-term cycle low of 12.10 in early January. On Wednesday this week there was a high of 14.13. Yes, the “silver crazies” are pumping out spam email and faxes, talking about $20 silver. I think there will be a long-term cycle high at about 17. If there is a high level of speculative froth, I could foresee silver going to 18, but I don’t care for all the hype in the market today.”

Silver prices are hot. On Friday, the $SILVER (near futures) was up +3.4 pct on the day to close up +$0.75 on the week.

Interactive 60-minute data

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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.

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$PLAT lifted by 28.10 (+2.32 pct W/W) to 1240.30. The 50-Day MA for $PLAT is now 1163.19 and the 200-Day MA is 1189.23.

A week ago I wrote, “The short-run cycle low was 1099.30 in mid-Dec and the subsequent cycle high was on Wednesday at 1225.60.” So, we have a new short-term cycle high.

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.

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$PALL had very bullish week, rising +4.93 pct W/W to close at 361.60, up 17.00.

The 50-day and 200-day Moving Averages for $PALL are 340.03 and 333.53 respectively, which is pretty flat, but below the current price, as is the case for the whole PM group.
That’s very bullish.

There has been a bullish pattern here since early October (290.88).

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.

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A week ago I wrote, “$COPPER rallied big time this week. Some shorts must have been squeezed. $COPPER closed at 265.90, up +5.62 pct W/W.”

This week those 2,000 lb Copper contracts rocketed up 19.40 (+7.30 pct) to close at 285.30.

The 50-day MA is 268.91, and the 200-Day MA is 323.35. This is StockCharts.com data.

There was a February low of 238.50, and a high of 270.00. The cycle high may be taken out soon.

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.

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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
AUY	15.06	0.12	0.80%	6.66%	7.96%	15.85%	22.14%	34.11%	46.78%	78.65%
KGC	14.04	0.27	1.96%	4.00%	5.64%	9.01%	22.94%	21.35%	1.15%	51.29%
GFI	18.47	0.08	0.44%	3.82%	7.57%	8.71%	0.76%	6.76%	-9.90%	-18.06%
AEM	41.05	0.51	1.26%	1.26%	0.15%	4.99%	5.47%	2.55%	10.95%	60.41%
NEM	46.85	-0.86	-1.80%	0.73%	2.27%	5.95%	6.00%	4.39%	-11.45%	-17.17%
LIHRY	40.75	0.34	0.84%	0.02%	-10.54%	-7.20%	17.50%	0.59%	-13.85%	70.64%
GG	28.45	0.13	0.46%	-0.77%	0.35%	5.64%	4.06%	3.91%	-6.35%	14.21%
ABX	31.06	-0.40	-1.27%	-1.43%	0.88%	5.68%	4.12%	6.92%	-7.23%	13.44%
MDG	30.35	-0.63	-2.03%	-2.63%	1.54%	7.55%	15.44%	5.42%	6.12%	22.68%
BVN	29.25	-0.25	-0.85%	-2.82%	-0.07%	2.88%	5.94%	6.02%	2.85%	8.90%

Two weeks ago I opined about gold stocks: “I don’t see a reason to sell this rally. It’s early yet.” Then last week I added, “This week, the precious metal miners were a little stronger.”

Well this week, there was a stronger move yet again.

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

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$XAU, GDX and (TSE’s) XGD were up the previous week +1.02 pct, +2.07 pct, and +0.43 pct. This week the gains were +1.89 pct, +2.17 pct, and +1.48 pct, respectively.

The $XAU index closed at 145.82. The 50d-MA (139.25) and 200d-MA (138.45) [StockCharts data] are both below the current price, which 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:

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Forex Review

The $USD closed at 84.04, a small loss of -0.04 pct W/W. The $USD 50-Day MA is 84.42, and the 200-Day MA is 85.12, so the current price (84.04) is technically bearish.

The following data requires your attention M3 update as of the past week. Lot’s of good stuff here.

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Interactive Chart of Weekly U.S. Dollar Index:

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

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The Euro (priced in USD) gained on the week +0.27 pct W/W, closing at 131.69. The $XEU 50-Day MA is 130.55, and the 200-Day MA is 128.37, so the current price (131.69) is technically bullish.

But, I’d still like to see the Euro move up through the December high of 132.55.

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

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

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The British Pound was up +0.66 pct W/W to close at 196.35. The $XBP 50-Day MA is 195.85, and the 200-Day MA is 189.94, so the current price (196.35) is technically bullish.

Weekly British Pound Index:

Daily British Pound Index:

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After the Japanese Yen had a very significant rally against the $USD a week ago, closing at 83.87, up +1.97 pct, this week the market took back those gains. The $XJY closed this week at 82.63, down -1.48 pct W/W. The 50-Day MA is 83.38, and the 200-Day MA is 85.57, so the current price (82.63) is still technically bearish.

There was a double bottom to the Yen (81.91 and 81.98) on Jan 29 and Feb 12. In a rising phase, the target is 84.70, which was the January high.

Weekly Japanese Yen Index:

Daily Japanese Yen Index:

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Weekly Canadian Dollar Index:

Daily Canadian Dollar Index:

The Canadian Dollar continues to gain ground o the USD. This week, the $CDW gained +0.42 pct W/W to close at 86.28. It was 84.40 at the week’s end on Feb 3.

The $CDW 50-Day MA is 85.51, and the 200-Day MA is 88.17, so the current price (86.28) is still technically bearish, but only on the long-term chart.

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International Equities Review

The India market ETF (IFN) continues to struggle, as it has since mid-November. It was down -2.80 pct this week, including a massive loss on Friday of -5.25 pct.

The Bombay Sensex 30 closed at 13,579.02, down on the week from 14,355.55, which is a loss of -5.4 pct, including -4.3 pct on Friday (according to Yahoo Finance).

I noted that a reader said the Yahoo data is incorrect for the Friday close. Another site has the BSE 30 index falling -389 points on Friday to close at 13,633.

In any event, the news is bad, both with falling prices and with inflation. Brokers reported margin calls; and inflation is at +6.63 to +6.73 pct this month. In New York, the India IFN ETF dropped -5.25 pct this week to close at 41.30. The loss on Friday was -2.80 pct.

The Templeton Russia Fund that I use to follow the Russian market gained +1.30 pct on Friday to close the week down just -0.13 pct, at 74.65.

The China FXI took a big hit on Friday, dropping -2.41 pct, to end the week down -0.75 pct at 105.40. The Shanghai Composite closed for the week for Chinese New Year, stuck at 2998.47.

The downside action in these emerging markets could be serious. Traders ought to watch carefully.

One thing that hurts the exporters of these countries is the falling $USD. And the influx of capital is an upward pressure on inflation when the inflows become extreme. Physical resources and the highest quality workers become sought after commodities, which drives up the price.

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Asia-Pacific indices (Interactive link)

European indices (Interactive link)

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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
QQQQ	45.26	-0.16	-0.35%	0.98%	1.71%	3.62%	4.67%	1.18%	18.67%	9.99%
EWJ	15.04	0.13	0.87%	0.80%	5.69%	5.77%	5.92%	13.42%	8.59%	10.91%
EWC	26.31	0.09	0.34%	0.61%	3.01%	5.24%	6.52%	3.10%	5.37%	13.90%
EWU	24.04	0.07	0.29%	0.38%	1.09%	2.08%	2.08%	3.40%	10.78%	21.78%
EWZ	49.02	-0.29	-0.59%	0.18%	1.98%	5.22%	4.97%	10.96%	27.79%	16.94%
IEV	108.73	0.26	0.24%	0.11%	1.24%	4.01%	2.96%	4.94%	15.19%	26.30%
TRF	74.65	0.96	1.30%	-0.13%	-2.42%	-3.52%	-15.70%	-0.98%	2.89%	-4.18%
SPY	145.30	-0.57	-0.39%	-0.34%	0.19%	2.14%	2.78%	3.11%	11.98%	12.57%
FXI	105.40	-2.60	-2.41%	-0.75%	-1.62%	0.72%	-9.45%	9.89%	33.77%	42.43%
IFN	41.30	-1.19	-2.80%	-5.25%	-10.00%	-6.77%	-8.91%	-17.05%	4.11%	-15.80%

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Japanese equity market ETF: EWJ

Japan’s EWJ (which is a USD-denominated NYSE-traded ETF) gained +0.80 pct W/W to 15.04. The gain just on Friday was +0.87 pct.

The EWJ 50-Day MA is 14.34 and the 200-Day MA is 13.76, so the current price (15.04) is technically very bullish, but possibly over-heated.

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) had a gain of +0.38 pct W/W to close Friday at 24.04. Friday’s gain was +0.29 pct.

The EWU 50-Day MA is 23.56, and the 200-Day MA is 22.32, so the current price (24.04) is technically quite 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:

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Canadian equity market ETF: EWC

EWC (priced in USD) had a gain of +0.61 pct W/W to close Friday at 26.31. Friday’s gain was +0.34 pct.

The EWC 50-Day MA is 25.26 and the 200-Day MA is 24.49, so the current price (26.31) is technically very 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:

(Japan, Taiwan, Hong Kong, Singapore)

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

(Canada, Mexico, Brazil, Australia).

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U.S. Equities Review

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

The Nasdaq Composite and Russell 2000 small cap index were up +0.75 pct, and +1.04 pct, respectively, while the S&P500 and DJIA dropped -0.30 pct and -0.95 pct, respectively.

Therefore, the higher beta, smaller cap stocks were up while the larger caps turned weak. Could that be an institutional move ahead of the retail marketplace?

I don’t know, but the week’s biggest sector loser was the Financials (XLF), down -1.24 pct W/W and -0.93 pct on Friday. That’s the first time I can recall the Financials leading the pack south, which is what often happens in Bear markets.

What happened in the US stock market this week was that the commodities (metals and oils) all jumped. The $CRB jumped up to 314.63, which is approaching the dreaded 200-day Moving Average. I have been saying for weeks that once that $CRB crosses above the 200-MA, that’s the point the Fed governors call a sit-down and start to consider tightening the system. That in turn will pull down the whole stock market, but the central bank policy change will take time to hit the metals once they start on their final melt-up run. Why? That’s because traders in the new-rich of the BRIC markets don’t care so much for NYSE and Nasdaq listed stocks, but they sure like to join long line-ups in a buying panic for the gold, silver and platinum metal. All Ben Bernanke can do at that point is to wait until the lines dissipate. By then, gold could be 750 and silver at 17 or 18, the way it’s been going.

This is a normal sector rotation. The financials and regulated utilities roll over first, then the consumers and techs, then the industrials and basic materials, followed by the oils and metals. The precious metals are usually last to fall, particularly if they increase their dividends and share buy-backs at this point.

Last week I wrote, “I suspect that after the next Bear market we will have witnessed the greatest transfer of wealth in the history of the world. If it goes on for two or three years, that capital flow just might tally up to the dollar aggregate of all the stock market losses in over 100 years. Think about it. I think these close-to-the-margin hedge funds are nervous. I think the prime broker Big Swinging Dicks of Wall Street who have extended credit are nervous. And I think those who are sitting in cash today are licking their chops, waiting for the pigs to be slaughtered and cooked up. This is after all the Year of the Pig.”

I wrote previously about a call I made on February 1 about the melt-up: “The truth is that the credit balloon can only be blown up so far before it pops. I expect that popping sound sometime in the next two to six months.” Last week I added, “Right about now, you can hear the sizzle.”

Your lead will be the Wall Street Financials. Those Big Swinging Dicks turn wimpy when they start selling their own stocks. They don’t shout “Fire!” So watch the Humungous Bank & Broker stocks.

For the record, this week, with Nasdaq and the Russell 2000 gaining +0.8 pct and +1.0 pct, Lehman Bros dropped -5.1 pct (despite the plan to buy back mega billions of its own stock), and Merrill Lynch was a close loser, going down -4.9 pct W/W.

And how about Friday? Lehman, Merrill, Morgan Stanley, JP Morgan and Goldman Sachs (a bunch of Pirates of the Caribbean if I ever saw one) dropped on Friday alone -3.7 pct, -2.7 pct, -2.2 pct, -1.2 pct and -1.1 pct, respectively. Certainly not respectfully.

I poke fun of course that these investment bankers let the clients re-arrange the Titanic’s deck chairs while they quietly are hoping aboard the life rafts. Yes, I josh, but did you retail/institutional clients know that the Wall Street sell-side has a motto quite the opposite of the physicians and surgeon’s oath of Do No Harm. In the case of HB&B, it’s Protect Your Capital, Above All.

I’m 100 pct serious on that score. So, it behooves you to monitor the big investment banks. The little commercial banks, of course, are getting their clocks cleaned thanks to an inverted yield curve and a continuing disaster of their mortgage backed asset business, which the investment banks are forcing them to eat the big losses.

Tell me, in 2000, when Goldman Sachs corporate finance department stuffed so many bad tech IPO’s into the clients’ accounts at grossly over-priced values, how many did they buy back after the margin calls went out? So why are these humungous investment banks giving the straight arm to the sub-prime mortgage lenders, forcing them to buy back previously sold securities?

Next it could be the hedgies who don’t offload their long commodity positions at the cycle top and get stuck when the watershed trickle becomes a flood – as it will. Their prime brokers will show no mercy!

In other words, if traders of the commodities love a spike in a market melt-up, they will absolutely hate it in reverse -- unless of course they switched from long to short (or gotten out) at the top.

Sometime this year, I am guessing, Commander Cara will be suspected by many of his followers of leaving the Federation Starfleet in favor of those dreaded Romulans. You see, I really am no gold bug; I am a trader. I too will switch out of gold and into a bigger cash position at the appropriate point.

But when the time comes, I will do my duty and tell you that I am abandoning the starship Enterprise in order to preserve capital and prepare myself for a return to the stock market on the side of the Bulls.

Not yet, not even close, but there will be a time. I just want you to be prepared that precious metals occasionally lose their glister.

My target as you know (since Jan 3) is 750. At about that point, I expect to be short the stock and commodity markets, and switching to Bonds first and then watching the RSI-7 M-W-D Cara 100 list fill up with wonderful purchase opportunities.

But then I’m an active Trend & Cycles trader.

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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.

As I see it, there are indications from the RSI and Stochastics that next week could be a losing week all around.

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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
WMT	49.57	-0.12	-0.24%	2.50%	2.61%	2.95%	4.25%	3.21%	13.28%	8.47%
DD	52.99	0.35	0.66%	2.36%	3.62%	6.71%	8.05%	8.99%	33.51%	30.61%
MCD	46.01	-0.04	-0.09%	2.29%	3.74%	7.00%	4.88%	9.16%	29.28%	29.28%
DIS	35.14	-0.02	-0.06%	1.36%	-0.43%	0.57%	2.75%	6.52%	20.38%	26.81%
AA	35.08	0.33	0.95%	1.07%	7.48%	11.47%	19.60%	15.28%	21.26%	16.58%
HON	47.69	-0.50	-1.04%	0.25%	2.40%	7.90%	5.74%	10.88%	22.91%	15.11%
VZ	38.41	-0.03	-0.08%	0.03%	1.21%	2.43%	1.56%	10.53%	11.69%	13.24%
XOM	75.22	0.14	0.19%	-0.16%	-0.32%	2.31%	1.50%	3.17%	8.03%	25.72%
PG	64.82	0.11	0.17%	-0.26%	0.36%	-0.15%	0.43%	1.85%	6.40%	5.43%
JPM	51.03	-0.61	-1.18%	-0.35%	0.20%	1.63%	6.16%	7.23%	12.10%	24.13%
AIG	68.79	-0.55	-0.79%	-0.48%	-1.15%	-0.15%	-4.66%	-3.88%	8.84%	2.37%
CAT	67.26	-0.52	-0.77%	-0.53%	2.48%	12.80%	9.97%	7.12%	0.07%	-7.04%
T	37.00	-0.05	-0.13%	-0.62%	-1.02%	0.57%	5.87%	13.25%	21.39%	32.43%
C	53.77	0.18	0.34%	-0.81%	-1.23%	-0.30%	-2.68%	5.91%	10.68%	14.89%
MO	85.38	0.54	0.64%	-0.81%	0.19%	-2.81%	-1.31%	1.50%	2.04%	16.35%
MMM	76.21	-0.14	-0.18%	-0.91%	2.10%	-3.54%	-2.62%	-6.46%	8.35%	3.48%
IBM	97.73	-0.77	-0.78%	-1.20%	-1.90%	0.23%	0.47%	4.50%	24.23%	21.86%
KO	47.26	-0.04	-0.08%	-1.23%	-1.25%	-1.42%	-2.72%	0.34%	6.63%	12.44%
AXP	58.02	-0.13	-0.22%	-1.41%	-0.80%	0.43%	-3.88%	-3.12%	9.47%	6.32%
BA	90.28	-0.30	-0.33%	-1.56%	0.85%	4.78%	1.24%	0.20%	18.23%	22.17%
HD	40.96	-0.22	-0.53%	-1.68%	-0.32%	2.17%	-0.27%	7.51%	21.83%	-1.49%
UTX	67.55	0.05	0.07%	-2.00%	-0.73%	2.02%	7.55%	2.68%	11.16%	15.37%
MSFT	28.90	-0.49	-1.67%	-2.13%	-1.20%	-5.12%	-3.22%	-3.38%	12.50%	8.40%
MRK	42.94	-0.26	-0.60%	-2.14%	-2.23%	-6.65%	-2.45%	-3.24%	6.13%	21.27%
JNJ	64.15	-0.63	-0.97%	-2.49%	-2.45%	-3.79%	-3.39%	-3.92%	0.38%	9.49%
INTC	20.76	-0.21	-1.00%	-2.58%	-2.76%	0.78%	2.01%	-4.46%	12.89%	2.32%
GE	35.10	-0.30	-0.85%	-2.88%	-1.79%	-3.41%	-7.56%	-2.47%	3.88%	5.53%
PFE	25.62	-0.25	-0.97%	-3.43%	-3.10%	-2.81%	-2.55%	-5.46%	-5.60%	-1.99%
HPQ	40.82	0.04	0.10%	-4.36%	-3.89%	-2.13%	-1.92%	2.77%	15.77%	26.10%
GM	34.26	-0.37	-1.07%	-5.98%	1.36%	3.38%	16.33%	10.20%	13.52%	66.39%

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 comments:

This week, Value Line has given us their quarterly update reports on five Dow 30 companies, including:

Citigroup (C)

AIG (AIG)

American Express (AXP)

JP Morgan (JPM)

Microsoft (MSFT)

After pulling out my remaining hair this weekend over the mind-boggling idiocy of the Microsoft tools I use, I feel the last thing I want to do is comment publicly. I know the language I used in my missives to their Redmond WA headquarters in the past 48 hours is suitable for a public blog.

I am so far behind I will have to forego my intended analysis and discussion of these five Dow stocks. I have to go some 30 miles to a meeting this morning.

Let’s leave it that the best stock of the five is probably AIG. The problems that Eliot Spitzer had with the former CEO and so forth are over and the operations bottomed in 2005.

I do agree with the AIG discussion and conclusions of the Value Line analyst Erik Manning. I expect the stock to out-perform the Dow 30 over the next 48 months, and if you can buy it on dips, the upside ought to be good.

There may be a bigger than expected dip in AIG if the bond market tanks at the same time as the stock market this year, but that would set up a terrific buying opportunity, I think.

As for (Cara 100) Citigroup (C), I like what the company is doing to expand its international business. But I do agree with Value Line analyst Frederick L. Harris III etc etc that “long-term capital appreciation potential is not attractive at the present quotation.”

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Alcoa [GICS 15, Dow 30]
(AA: Yahoo Finance file)
(AA: StockChart chart)
(AA: Investertech chart)
(AA: ADVFN Financial Data)
(AA: Value Line Report Jan. 19: next one is due Apr. 20)

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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: Value Line Report Feb. 2: next one is due May. 4)

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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: Value Line Report Feb. 23: next one is due May 25)

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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: Value Line Report Feb. 23: next one is due May 25)

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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: Value Line Report Dec. 29: next one is due Mar. 30)

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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: Value Line Report Dec. 22: next one is due Mar. 23)

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

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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: Value Line Report Feb. 23: next one is due May 25)

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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: Value Line Report Feb. 2: next one is due May. 4)

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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: Value Line Report Feb. 16: next one is due May 18)

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Dupont [GICS 15, Dow 30]
(DD: Yahoo Finance file)
(DD: StockChart chart)
(DD: Investertech chart)
(DD: ADVFN Financial Data)
(DD: Value Line Report Jan. 19: next one is due Apr. 20)

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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: 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: Value Line Report Jan. 12: next one is due Apr. 13)

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

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

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

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

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

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Johnson & Johnson [GICS 35, Dow 30, Cara 100]
(JNJ: Yahoo Finance file)
(JNJ: StockChart chart)
(JNJ: Investertech chart)
(JNJ: ADVFN Financial Data)
(JNJ: Value Line Report Dec. 1: next one is due Mar. 2)

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JP Morgan [GICS 40, Dow 30]
(JPM: Yahoo Finance file)
(JPM: StockChart chart)
(JPM: Investertech chart)
(JPM: ADVFN Financial Data)
(JPM: Value Line Report Feb. 23: next one is due May 25)

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McDonalds [GICS 30, Dow 30]
(MCD: Yahoo Finance file)
(MCD: StockChart chart)
(MCD: Investertech chart)
(MCD: ADVFN Financial Data)
(MCD: Value Line Report Dec. 8: next one is due Mar. 9)

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3M Company [GICS 20, Dow 30, Cara 250 June 25-06]
(MMM: Yahoo Finance file)
(MMM: StockChart chart)
(MMM: Investertech chart)
(MMM: ADVFN Financial Data)
(MMM: Value Line Report Feb. 16: next one is due May 18)

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

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Microsoft [GICS 45, Dow 30]
(MSFT: Yahoo Finance file)
(MSFT: StockChart chart)
(MSFT: Investertech chart)
(MSFT: ADVFN Financial Data)
(MSFT: Value Line Report Feb. 23: next one is due May 25)

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

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Procter & Gamble Co. [GICS 30, Dow 30, Cara 100]
(PG: Yahoo Finance file)
(PG: StockChart chart)
(PG: Investertech chart)
(PG: ADVFN Financial Data)
(PG: Value Line Report Jan. 5: next one is due Apr. 6)

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United Technologies [GICS 20, Dow 30, Cara 100]
(UTX: Yahoo Finance file)
(UTX: StockChart chart)
(UTX: Investertech chart)
(UTX: ADVFN Financial Data)
(UTX: Value Line Report Jan. 26: next one is due Apr. 27)

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

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Wal-Mart [GICS 30, Dow 30, Cara 100]
(WMT: Yahoo Finance file)
(WMT: StockChart chart)
(WMT: Investertech chart)
(WMT: ADVFN Financial Data)
(WMT: Value Line Report Feb. 9: next one is due May 11)

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Wrap up:

Changing to the new ISP server caused me more problems in publishing the WIR this weekend. I could not even access my own blog for four hours early today. Sorry; these things are technical and out of my control.

I also encountered plug and play issues after returning from my trip. All the screen settings were messed up on my laptop, which after a couple frustrating hours of techie work on Friday gave a new meaning to the word ‘play’. In time, I fixed everything -- except through yesterday I had one annoying feature. My cursor for MS Word became the size of a micro dot, causing me to constantly search for my place on the page. This WIR subsequently took forever to finish.

Maybe I should go back to a hotel lobby in Nassau? Do you think?

Enjoy your day. Wherever you are in the world, whether it’s New York, New Toronto, New Delhi or Nassau, I have a feeling we are on the same page, wanting and needing to protect and grow our capital.

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