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October 21, 2007
Week in Review #42 (2007-10-20)
Everybody, it seems, wants answers. But, really, is anybody truly optimistic that equity prices are going higher?
Well, some of you must be because, apparently, there will be 110 of the S&P 500 components that next week will report an expected +10 pct to +11 pct Y/Y Earnings Growth Rate. That will be the lead cover story to get the People to hang in to what is a collapsing equity market.
‘Goldilocks Lives’ will be the headline. Read all about it.
The other lead stories will be that (i) commodity prices are falling, (ii) interest rates are falling, and (iii) Finance Ministers and Central Bankers of the economically most powerful nations will be gathering to fix what ails us.
A week ago I commented, “I have noticed (an) increasing numbers of stories about foreign profits for US companies. The news seems to me to be written by promoters, not reporters.” Well, nothing kills a good story in equity markets faster than collapsing stock prices, so we are close to the end of that particular storyline.
Oh, there will be the usual stories that the grass is greener in the emerging economies, which are now the engine behind the global economy, yada yada. But that sucking sound soon to be heard around the world will be air escaping from the BRIC Balloon.
A week ago I wrote, “On Friday, there was a lot of media hype that Small Caps were joining the rally. Yes, the Russell 2000 did gain +0.74 pct on the day, but LOST -0.44 pct W/W.” As markets break down, these positive stories disappear, one at a time.
Also, last week I stated, “Without Friday’s rally in US equity markets, the week would have been a loser.” Another week has rolled by, and this time it was a loser through and through. The losses have now mounted up where ten out of ten sectors were down this week, AND over the past two weeks, and 8 of 10 over four weeks.
Meanwhile, in the past four weeks, only the Metals have kept above water (save for a few life-preserver defensive stocks in the Consumer Staples sector (XLP)). That is not good for the Bulls. Long-time members of this community know that when the Metals (and in particular the Precious Metals) leave the floor, the last dance has been played. The party is over.
This week, equity markets all over the world collapsed. The only market that lost less than -2.0 pct was China, The Shanghai index dropped about -1.5 pct, which, although the best, is nothing to call home about, even if Mandarin or Cantonese has been a happy messenger lately. Friday was particularly bad for US-listed Chinese stocks, where the FXI dropped a shocking -6.2 pct on the day! Can’t wait for Shanghai to open on Monday!
The ugly details of this past week, however, can be summed up by the -10.1 pct dive in the Blackstone-managed India Fund (IFN), including a loss of -4.3 pct on Friday.
When you see the rocket-launched FXI and IFN get creamed an average of over -5 pct in a single day, especially a Friday, you want a front-row seat for the fireworks on Sunday night when those domestic markets open. Therein will lie the clue to next week’s trading everywhere.
A week ago, I opined,
“What I think is happening at this point is that the excitement and froth of Asia-Pacific markets is being super-imposed on the psyche of US traders much like, for example, the 2005 hype of real-estate markets in South Florida, California and Las Vegas were being pushed at investors and home-owners in other US markets, as in get in now in these lagging markets before you find you can never afford to. In the bigger picture, I don’t see how the gains in most of the Asia-Pacific markets are sustainable, just like I argued in the summer of 2005 that real estate in South Florida would soon weaken. These economies are growing at a rapid rate, but nowhere close to the growth rate of share prices, which has actually gone parabolic in many of these markets. When the selling starts in global equity markets, I believe it will start with the weaklings, and those happen to be US, Japan, UK and Europe. Actually, the crack will first show in Asia-Pacific markets (ex-Japan), but the serious selling will occur in what I refer to as the weaklings. Those are the markets saddled by potential earnings and credit market “issues.” I feel strongly about this, but I also know that the best tactic is to go with the flow, staying with rising prices until they start to pull-back.”
News alert to traders who haven’t yet clued in: Prices are no longer rising. They are falling quickly in the BRIC markets (the strongest economies), but the most significant capital losses, in the aggregate, have occurred in the US, Japan, UK and Europe (the economies in trouble because of the failings of HB&B). Sell Alerts were flashed across the board, and around the world.
As I say, when prices pull back, particularly to this extent, there is incontrovertible evidence the gnomes of Wall Street are selling.
Mom & Pop on Main Street no longer have much influence in capital markets, so they have not taken the lead in this sell-off. They don’t even comprehend what it is to swap or to switch today’s spot for futures. They just listen to their HB&B financial advisors, like good sheep.
Here we go again; the fleecing of the Middle Class. It happens every four or five years and it is never pretty. As HB&B is in tough this time around, desperate to save their own skin, it could get downright ugly.
International Economics Review
The following is a very comprehensive report as to the economic situation around the world today. I hope you read it.
Econoday Weekly International Report
Next week’s US econ calendar is quiet. All is quiet on the western front... NOT!
US Economic Calendar for next week.
A week ago, I commented about the hype over US jobs data and retail sales data, “Where is the beef? You know, these spin artists can only stretch the truth so far. CNBC’s new line is “America is open for business,” but (ahem) who is buying?”
Yes, this week, just like happened in the summer of 2005 when at the peak of the real estate cycle they zealously promoted that market in their Crossing America road show, CNBC is up to their hijinks again.
The new road show is promoting the economic health of America, soon to come to your city. Their slogan “America is open for business” is code for “Goldilocks Lives... Don’t panic when HB&B dumps their stocks on the market, and prices collapse. Stay the course.”
It is time to get serious, and realize what is going on here.
Relative Strength Index (RSI) analysis of the Cara 100 company stocks .
Industry and Cara 100 “Impulse” Review
Applied weekly to major industry groups, the “impulse system”, based on the excellent work of Dr. Alex Elder, gives a sense of market internals. (I apologize for not having the time to take screenshots.)
“Jock” reports:
THIS WEEK saw 2 GREEN industries, and 7 RED, compared to last week’s 30 greens, 0 Reds – the largest negative weekly move of the year!
(insert weekly impulse chart)
Of the Cara 100 components, 25 are green (last week: 64) , 35 red - (last week: 12):
(insert Cara 100 tables)
The component stocks of the major indices, on a weekly basis, were (green/red):
(insert table: index components green-red)
The DJIA, S&P500, and Russell2000 all turned from GREEN to RED; the NDX, Nasdaq Comp, and Wiltshire 4500 turned from GREEN to neutral.
The CRB commodity index stayed GREEN. GOLD & SILVER stocks stayed GREEN.
The US dollar index moved from neutral to RED, and hit another multi-decade low.
The Hang Seng stayed GREEN while the Shanghai Composited turned neutral.
Bottom line: This week’s was the largest negative turn of the year. Components of all indices turned sharply RED. Last week’s Russell 2000 was 13/1 green/red; this week’s ratio was 3/10 !
Most of the damage was done Friday, with all 31 major industry groups down, and closing near their daily lows.
NOTE: Alex Elder’s “impulse system” considers both the “inertia” in prices (where prices stand vs. their 26 wk. moving average) and their “momentum” (the rate their 13wk. and 26wk. moving averages are converging or diverging).
When both indicators (EMA and MACD-H) tick up, the reading is “green”; when both decline, it’s “red”. Applied weekly to major industry groups, indices, and their components, a sense of market internals emerges.
Sorry Jock. I hope to have this new screenshot routine figured out next week.
US Equity Markets Review
“Traders are taking note of a possible double top.” (WIR 39, Sept. 29)
At the close of this week, the DJIA index plunged Friday -2.64 pct, closing at 13522, which, week over week, is a loss of -571 points (-4.05 pct). I can’t recall a hit like that for many years.
A week earlier, I stated, “The media has been in a full-court press to try to hype this market higher... General Motors (GM) has had three weeks of huge gains (+5.04 pct +4.09 pct and 11.62 pct), including a gain of +6.63 pct on Friday alone. So, GM has had a huge impact on the Dow 30. The broad market indexes are now well above both the 50-day and 200-day Moving average technical lines of resistance. But, the Daily, Weekly and Monthly RSI-7 data continue to show the market is over-bought. With earnings season coming up, we have to watch the post-quarter trading for signs of a market sell-off. As we saw with JC Penny (JCP), Boeing (BA) and others, earnings disappointments and negative news of any kind are being met with major sell-off’s.”
So, we did see it coming.
I have pointed out for several weeks that “selling into strength the stocks in your portfolio that have already had a Sell Alert and then a subsequent big run-up in price to a second Sell Alert is usually the right decision.”
NASDAQ Composite (interactive) chart
The Nasdaq Composite is stronger than the DJIA because it is not weighed down by Financials. But, this week the sell-off also hit the Tech stocks. The Nasdaq Composite dropped by -2.87 pct.
Semi-conductors (SMH) sold down a huge -5.49 pct a week earlier, and after a bit of a recovery then sold down -2.97 pct on Friday.
The US equity market Sector ETF Summary
The tables I show are for ten (GICS) Sector Index Funds (ETF’s) only, but they cover the full spectrum of the US equity market.
This week it was a case of zero sector ETFs up,10 down. That's consistent with the DJIA, of which 3 components were up, 1 flat and 26 down. Friday swung the numbers from losses to serious losses.
Table 1: Cara ETF List is sorted by price performance Week over Week (W/W), i.e. 1W%N.
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
You can do this table yourself by entering the following string into the Summary window at Billcara2.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, go to the AMEX.com web site, and click on ETF’s.
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)
Individual Sector ETF Review
Sector 10 (energy: XLE, IYE, VDE, OIH, PBW and IXC)
Here’s the XLE Monthly, Weekly and Daily data charts:
XLE Monthly data:
XLE Weekly data:
XLE Daily data:
Energy (XLE) dropped -3.52 pct W/W, including a smashing -4.58 pct on Friday. Yet, Crude Oil contracts were up +5.1 pct W/W.
No, I never saw $90 crude oil coming.
Yes, Exxon (XOM) dropped -3.1 pct on Friday, so where are the Talking Heads who were telling the audience this stock was going to zoom past $100. NOT!
Last week, I wrote the following:
I like the (Energy) sector based on current period corporate cash flow and earnings per share metrics, but believe it is over-bought here as many of the major companies are guiding lower for these metrics going forward. So, when these stocks drop in price at all, triggering Sell Alerts when Daily or Weekly RSI-7 values fall below 70 (depending on your time horizon, ie, short or intermediate), I am quick to take profits.The operative word is “profits”, which are bound to happen when you buy in the Accumulation Zone (on Buy Alerts that are triggered when the Daily RSI-7 period value moves up above 30) and sell in the Distribution Zone with a Sell Alert.
I am often asked if I always Buy on a Buy Alert or Sell on a Sell Alert, and the answer is “It depends”. If I am trading a Fund, comprised on many component issues, I do. I also do if I am trading the stock that has few peers, like a Whole Foods Market (WFMI). But whenever the stock has several correlated peers, like say the Las Vegas casino operators, or the Big Oil companies or Large Cap Goldminers, for example, I will look – at least for a day or two -- to the weight of the technical evidence in that industry group.
I say this often; a technical indicator is just an indicator. It is an aid to decision making, not an absolute scientific method of trading. But the use of technical indicators provides a disciplined approach to trading, which is a far superior tactic than say reacting to news and stories.
Moreover, when you see technical indicators moving in one direction and the news and stories doing just the opposite, you should ask (more) questions and give the matter more thought. Your decision making improves – albeit your general level of skepticism elevates – when you begin to see through the veil of the so-called “news” and story info.
Whenever prices rise or fall, particularly when a trend or cycle reverses, there are reasons. You may not become aware of them for a long while, but your job is not to figure out the “why”, but only the “what” is happening in your portfolio.
When you are long, you want to be holding the stocks of what you believe to be quality companies or sector/industry Funds (like ETF’s) that are favored by the major drivers of market prices. When the trends and cycles of those prices start to reverse downward, you start to sell. This takes discipline, which the simple RSI technical indicator system provides.
Part of the reason that share prices in the Energy sector have been rising around the world is that Big Oil stocks in China and Brazil are on a tear. But, is that due to improving metrics across the globe or to the froth and enthusiasm of traders in China and Brazil chasing the stocks of favored sectors and industry groups, particularly the well-recognized names of the large caps?
I think a lot of what is going on today is that traders in the major economic markets (US, UK, Europe and Japan) see the cups overflowing in these other markets (ie, China and Brazil) and transfer that image onto the locally-based companies. If so, take heed because the economy in these leading G-7 markets is likely to slow in 2008 and may in some instances fall into recession, along with growing inflation. That combination will hurt the top and bottom line of the Big Oil companies that primarily operate in those domestic and regional economies.
This week in the Oil Patch, PetroBrazil (PBR +6.7 pct) and China National Offshore Oil (CEO +8.5 pct) were the big winners. Who else but? A week earlier, PBR was up +4.4 pct. There seems no end to the frivolity – until there is.
For the past year (52-weeks), PBR is up +99 pct and CEO is up +118 pct. The Canadians I follow (IMO, SU and ECA) are up between +42 pct and +56 pct. US Big Oil (XOM and CVX) gained between +38 pct and +43 pct. These stocks have had their run. Expecting more is to be a market pig, and we know that pigs get slaughtered when going to the market. So, be wary of becoming a pig.
As I said four weeks ago, and repeated the last three, “Smart traders will be watching for a Sell-Alert to realize their gains, and move into cash (or into over-sold but recovering stocks).“ This week, those Sell Alerts came in.
In any massive selling wave, even the stocks of the best quality companies get tossed. So bottom-picking is not advised. What until there is a bit of a recovery in these stocks before buying new positions. Use the Accumulation plus Buy Alert system (ie, Daily and/or Weekly RSI >30 depending on your time horizon) before you venture back in.
It could be a few months, maybe longer.
Btw, on Friday, as Crude Oil dropped -1.24 pct, wealthy oil trader Boone Pickens told his followers at CNBC that he thinks Wind is the next big thing. So, Boone apparently is an Energy guy and not an oil man. Hmmm, reminds me of Enron, which all of a sudden became an energy trader, not a gas producer.
I am always nervous when people with proven track records decide to switch horses -- like a well-known Canadian Fund manager who switched from uranium to moly. :-)
Table 2: Senior oil & gas equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Oil & Gas Exploration & Production -Canada
Sector 15 (basic materials: IYM, XLB, IGE and VAW)
Here’s the XLB Monthly, Weekly and Daily data charts:
XLB Monthly data:
XLB Weekly data:
XLB Daily data:
XLB (Basic Materials) lost -2.86 pct on the week to close at 42.10.
Two weeks ago, I set you up to take advantage of the drop in prices last week when I wrote:
The market is frothy. How I know this is that Brazil’s CVRD (RIO) has gained +11.4 pct in six sessions. Besides, two weeks ago I wrote, “Base metal miners like Brazil’s CVRD (RIO) were strong. RIO jumped +11.43 pct this week, and +24.51 pct over two weeks. Yes, the fundamentals are improving, but those kind of gains in share prices must be realized or else they might be given back.(Last week I added)What I was trying to do was set up your approach by keeping your finger close to the Sell Button, awaiting a Sell Alert. Then if, as and when it happens that Daily RSI-7 drops below 70 (intra-day basis if you have these systems), SELL. Lock in your gains. These gains in your portfolio will produce Buffett-type performance results for you. Is that not what you always dreamed about? So, why buy the stories of some other Dream Merchant? This is your portfolio, your life; so, manage it, live it.
And if a few of these stocks happen to rally a further +5 pct or +10 pct, forget it. Realized gains are crucial to long-term performance. Unrealized gains often turn into realized losses, which is the sole reason why the huge majority of traders (ie, about 80 pct) do not keep up to market average performance.
The performance tables I use happen to come from data from Investertech.com that is often incorrect, so it pays to double check the data. For example there are two 2:1 share splits in the RIO stock that are unaccounted for. The 52-week gain for RIO is not +50 pct, but really +200 pct, and that compares favorably to Rio Tinto’s (RTP) gain of +86 pct and BHP Billiton’s (BHP) gain of +113 pct. These three, along with the Zug Metal Men Xstrata (XTA.L and XTA.S) that trades on London and Swiss markets, are the mega-cap gorillas of mining. Their share prices reflect the increase in corporate financial strength and performance metrics, but the question now is, for how much longer will metal prices boom, and share prices zoom, before they hit doom!
Long-time members of this community know I have ridden the metals Bull for a couple years, and you may even be surprised that in the past couple weeks I started talking about a metals commodity price bubble that would sometime come to an end. To repeat, what I am doing here, just as I did for the Energy sector, is to say these stocks are in the Distribution Zone, and will soon trigger Sell Alerts. It will pay handsome returns to stay close to the Sell Button.
There were many Sell Alerts this week. After the return of my Windows system, I shall publish the daily tables sent to me by David. In a couple weeks, you will see how much capital would have been saved merely by hitting the Sell button at the appropriate time.
Trading involves just two steps: strategy (in finding quality for your portfolio) and tactics (in determining when to buy and sell the prices). The rest is noise.
Table 3: Senior metals and steel equities:
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Sector 20 (industrial: IYJ, XLI, VIS, and IYT)
Here’s the XLI Monthly, Weekly and Daily data charts:
XLI Monthly data:
XLI Weekly data:
XLI Daily data:
Table 4: Senior capital goods makers and transportation:
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
XLI (Industrials) lost -3.80 pct this week to close at 39.70.
ABB ($27.87 +3.3 pct) was the winner on my monitor. Here is what I wrote last week:
A week ago I wrote, “Two months ago (Aug 16), ABB hit an intra-day cycle low of $20.42. (Today’s price represents) a move of +36.5 pct, which is an extreme one for a company with a market cap of over $63 Billion. (But) when you see a stock with M-W-D RSI-7 (smoothed) levels of 80.5/76.9/83.2, then you ought to have fairly tight stops.ABB dropped over -3.00 pct on Friday. On the week, GE dropped -2.4 pct, but that was nothing like other Dow Industrials, CAT -8.4 pct, MMM -8.0 pct and HON -5.4 pct.
South Korea’s steelmaking giany PKX dropped -14.4 pct W/W, so there is clearly some froth being removed there. And Big Miners Rio Tinto (RTP -8.4 pct) and CVRD (RIO -7.4 pct) were also hammered.
Sector 25 (consumer discretionary: XLY, IYC and VCR)
Here’s the XLY Monthly, Weekly and Daily data charts:
XLY Monthly data:
XLY Weekly data:
XLY Daily data:
Two weeks ago, I wrote:
(When) XLY zoomed a week ago by +3.4 pct W/W, I stated,”I attribute much of the strength to the hype this week that America can reflate its way out of problems, that a 110,000 jobs number is “a winner for Goldilocks”, and other “greatest stories never told”. All of it nonsense. A week ago, the big losers were Whirlpool (WHR), Starbucks (SBUX) and JC Penny (JCP). This week, pump, pump, pump… WHR was up 5.8 pct, SBUX +2.4 pct and JCP marvelous darling at +8.4 pct W/W. Simply put, the markets have failed as an effective pricing mechanism. Mr. Market has allowed the b.s. artists of Financial Entertainment TV to take control. Discover Financial Services told us this week that the US consumer is feeling yummy and well-heeled, and Mr. Market then waved the green flag. That was quite a run on Tuesday and Wednesday morning. Next we’ll hear of the inventory problems and the write-offs and the drivers will be red-flagged.”Imagine to my shock and horror (NOT and NOT!) that Whirlpool (WHR -5.32 pct) and JC Penny (JCP -9.34 pct) collapsed this week, red-flagged along with Brunswick Corp (BC -7.64 pct). And, do you really believe it when a Talking Head explains pull-backs like that as merely “consolidating gains”? More likely, I say, your chain is being yanked.
No, Consumer Discretionary is not going higher because the American consumer has insufficient money or access to credit.
XLY dropped -5.21 pct W/W to close at 36.00. It’s a pretty ugly picture and I pointed it out at the end of July. When you happen to see growing theft at gas stations and $5 purchases, you know people have no money.
The stocks that got hammered this week in this sector were JC Penny (JCP) -11.1 pct, Brunswick Corp (BC) -10.6 pct and Ebay (EBAY) -8.0 pct.
Table 5: Senior consumer discretionary equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Sector 30 (consumer staples: XLP, VDC, RTH and IYK)
Here's the XLP Monthly, Weekly and Daily data charts:
XLP Monthly data:
XLP Weekly data:
XLP Daily data:
Table 6: Senior consumer staples equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
XLP (consumer staples stocks) lost just -1.94 pct W/W, closing at 27.73. That loss happens to be the best performance of the ten sectors. As I wrote previously, the stocks in this "defensive" sector have had a rather impressive run in the past month.
Wal-Mart (WMT) dropped -4.4 pct and Whole Foods (WFMI) -8.3 pct was also a loser, while Coca Cola (KO +1.7 pct) was still a beneficiary of the foreign profits and falling $USD story line.
Sector 35 (healthcare: IYH, XLV, VHT, IXJ, and IBB)
Here’s the IYH Monthly, Weekly and Daily data charts:
IYH Monthly data:
IYH Weekly data:
IYH Daily data:
Table 7: Senior healthcare equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
IYH (healthcare) lost -2.63 pct this week to close at 70.41.
The losers included Pfizer (PFE) -4.7 pct and United Health (UNH) -4.5 pct.
Sector 40 (financial: IYG, IYF, XLF, VFH, IXG, VNQ, RWR, IYR, and ICF)
Here’s the XLF Monthly, Weekly and Daily data charts:
XLF Monthly data:
XLF Weekly data:
XLF Daily data:
Table 8: Senior financial company equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Not much of consequence changes week to week in capital markets, certainly not as much as the public is led to believe by Talking Heads. Two weeks ago, the Financial ETF (XLF) gained +4.6 pct to close at 35.77. I was unimpressed. Last week, the public was encouraged by certain news items that hit our monitors. Again, I was unimpressed, so I wrote:
It will be interesting to see what Richard Branson and Wilbur Ross end up offering for Northern Rock. Even more interesting will be the reported $80-$100 billion (SIV) fund being aggregated by HB&B to buy up the syndicated sub-prime debt they couldn't get the market to buy. I have been saying for a couple weeks now that these bankers have come to an agreement to protect themselves from the fall-out that started when Bear Stearns and Merrill Lynch and others began to sell off securities of other banks at fire-sale prices. They first tried to lie to the public about the quality of these securities; then they said that the quality aspect was not so easily quantifiable; and now they are saying they need a $100 billion back-stop fund plus the help of the major central banks of the world to stave a systemic collapse of the financial system. Why should we trust these bankers?I’m just patiently waiting for the next shoe to drop. The core of the problem is most likely within the credit market fiasco, but as with any earthquake, there will be a serious of shocks, any one of which could be 'the big one'.
This week, the Financial ETF (XLF) lost -8.03 pct, to close at 32.64. That’s a loss of -8.8 pct in just two weeks. Didn’t I say something a couple weeks ago that I wouldn’t touch this group with a barge pole?
The best of the Cara 100’s in this sector happens to be HSBC (HBC) down -3.1 pct W/W. As for the worst, Citi (C) -11.5 pct and Lehman (LEH) -11.5 pct were dreadful. Merrill Lynch plunged -11.9 pct this week.
How do you think the staff and the clients feel? They are trying to save face. Sometimes it is just better to bite the bullet, step out of the way of the oncoming train.
Sector 45 (technology: IGM, IGV, IGW, XLK, VGT, IYW, IGN, IXN, MTK and SMH)
Here’s the SMH Monthly, Weekly and Daily data charts:
SMH Monthly data:
SMH Weekly data:
SMH Daily data:
Table 9: Senior technology equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
A week ago, SMH (semi-conductors) plunged -5.49 pct to close at 36.34. This week, the damage was not as serious. SMH dropped -1.95 pct, but the big day was Friday, down -2.97 pct, to close at 35.63.
Sector 50 (telecom: IYZ, VOX and IXP)
Here’s the IYZ Monthly, Weekly and Daily data charts:
IYZ Monthly data:
IYZ Weekly data:
IYZ Daily data:
IYZ (telecommunications) dropped -3,25 pct W/W to close at 32.75.
Verizon (VZ -2.77 pct) and AT&T (T -2.18 pct) were down W/W, which shows that when Bears start eating, not even high dividend yields matter.
Sector 55 (utilities: IDU, XLU, and VPU)
Here’s the XLU Monthly, Weekly and Daily data charts:
XLU Monthly data:
XLU Weekly data:
XLU Daily data:
This week, XLU (Utilities) had a loss of -4.28 pct, closing at 39.62.
Bonds & Yields Review
Table 10: US Treasury Yields
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 3 Month | 3.63 | 3.70 | 4.06 | 3.77 |
| 6 Month | 3.89 | 3.94 | 4.12 | 3.90 |
| 2 Year | 3.77 | 3.90 | 4.22 | 3.98 |
| 3 Year | 3.78 | 3.91 | 4.23 | 4.02 |
| 5 Year | 4.02 | 4.14 | 4.41 | 4.20 |
| 10 Year | 4.39 | 4.49 | 4.68 | 4.54 |
| 30 Year | 4.68 | 4.77 | 4.90 | 4.83 |
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 2yr AA | 3.34 | 3.39 | 3.44 | 3.42 |
| 2yr AAA | 3.37 | 3.39 | 3.46 | 3.47 |
| 2yr A | 3.47 | 3.47 | 3.47 | 3.39 |
| 5yr AAA | 3.46 | 3.51 | 3.55 | 3.49 |
| 5yr AA | 3.43 | 3.47 | 3.53 | 3.51 |
| 5yr A | 3.71 | 3.76 | 3.76 | 3.71 |
| 10yr AAA | 3.76 | 3.76 | 3.83 | 3.71 |
| 10yr AA | 3.67 | 3.66 | 3.79 | 3.69 |
| 10yr A | 3.89 | 3.89 | 3.96 | 3.84 |
| 20yr AAA | 4.40 | 4.41 | 4.45 | 4.31 |
| 20yr AA | 4.60 | 4.61 | 4.64 | 4.87 |
| 20yr A | 4.41 | 4.42 | 4.46 | 4.59 |
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 2yr AA | 4.52 | 4.67 | 4.87 | 4.77 |
| 2yr A | 4.68 | 4.81 | 5.02 | 4.92 |
| 5yr AAA | 4.79 | 4.86 | 4.93 | 4.96 |
| 5yr AA | 4.95 | 5.07 | 5.26 | 5.17 |
| 5yr A | 4.98 | 5.11 | 5.31 | 5.24 |
| 10yr AAA | 5.30 | 5.39 | 5.53 | 5.34 |
| 10yr AA | 5.59 | 5.66 | 5.71 | 5.82 |
| 10yr A | 5.59 | 5.67 | 5.84 | 5.89 |
| 20yr AAA | 5.68 | 5.77 | 5.88 | 5.92 |
| 20yr AA | 5.87 | 5.96 | 6.10 | 5.86 |
| 20yr A | 6.01 | 6.11 | 6.21 | 6.26 |
Are you watching yields in the bond market?
It was impossible to price bonds accurately this week because there was a bit of a panic move from equities, which where in a free-fall, to the safety net of fixed income, especially the US Treasurys.
Yields dropped -22 basis points, -29 bp, -39 bp, -50 bp and -43 bp for the 30-year, 10-year, 5-year, 2-year and 3-month US Treasurys as bond prices were pumped.
There is a school of thought that says if rates for the T-Bills goes too low, there will be a recession. That low a rate means that traders are pulling out of equities (and long dated bonds) and going to cash and short-term US govt debt. They are saying that risk of holding other instruments is too high.
Here is the $USB 30-year Treasury Bond chart.
Interest rates and bond yields.
Interactive Daily data charts:
Interactive Chart of Interest rates and bond yields.
This week, TLT gained +3.23 pct (+1.49 pct on Friday), as the story became one of govt bonds are the safe haven.
I wish I had more time to study the bond market.
US Bond Funds -- Interactive Monthly Data Charts
SHY Monthly data series chart:
IEF Monthly data series chart:
TLT Monthly data series chart:
AGG Monthly data series chart:
LQD Monthly data series chart:
TIP Monthly data series chart:
US Bond Funds -- Interactive Weekly Data Charts
SHY Weekly data series chart:
IEF Weekly data series chart:
TLT Weekly data series chart:
AGG Weekly data series chart:
LQD Weekly data series chart:
TIP Weekly data series chart:
US Bond Funds -- Interactive Daily Data Charts
SHY Daily data series chart:
IEF Daily data series chart:
TLT Daily data series chart:
AGG Daily data series chart:
LQD Daily data series chart:
TIP Daily data series chart:
Table 11: Interest-sensitive securities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
A week ago, I wrote: “Freddie Mac (FRE lost -4.41 pct vs gain of +7.5 pct vs loss of -2.22 pct the previous two weeks), Fannie Mae (FNM lost -1.87 pct vs gain of +10.7 pct vs loss of -3.05 pct the previous two weeks) and Countrywide Financial (CFC lost -7.46 pct vs gain of +6.5 pct vs loss of -3.06 pct). This is like rolling dice.”
Snake-eyes.
This week the losses were -7.75 pct, -3.02 pct, and -3.38 pct for CountryWide, Freddiee and Fannie. Ugly. and that was just Friday!
On the week, Countrywide, Freddie and Fannie plunged -18.73 pct, -12.50 pct and -10.89 pct. One week.
A week ago I wrote: “This week, traders caught the message. They sold off these financial plays and bought more gold ($GOLD was up +6.50 to a new 27-year weekly high close of $753.80.” Well, this week, those traders sold more paper of dubious quality and bought $GOLD up $768.40, which is a gain of +14.60 (+1.94 pct W/W).
Nobody, it seems, wants to hold securities that are backed by mortgages. That more than anything, I think, is an indicator of a recession on the way. Trading icon Julian Robertson not only forecasted a recession when speaking this week, he said it would be “a doozie”. If T-Bill yields keep plunging, the Fed doesn’t cut rates, and these mortgage company share prices keep plunging, I’d have to agree. Batten down the hatches.
Consumer Finance -USA -- Interactive Weekly Data Charts
Consumer Finance -USA -- Interactive Daily Data Charts
Commodities Review
A week ago, the $CRB index gained +4.29 (+1.30 pct) to close at 333.50. This week, it gained +6.61 (+1.98 pct) to close Friday at 340.11.
That means seven weekly gains in the past eight weeks.
The 50-day Moving Average for $CRB is now at 320.86 and the 200-day MA is 312.98.
As I say, “As long as the $USD is headed south, $CRB is going to be going north. Fool those commodity producers once, shame on the Fed; but, fool them twice, shame on the producers. They are not that stupid to be producing metals, and oil & gas, and agri products in exchange for wooden nickels.”
Interactive Chart of Weekly CRB Commodities Index:
Interactive Chart of Daily CRB Commodities Index:
Oil Review
The Crude Oil futures market ($WTIC in the US for Light Sweet Crude called West Texas Intermediate) rocketed +4.21/bbl (+5.09 pct W/W) to close at 86.95, a record high weekly close. CNBC seemed to be in non-stop promotion of 90 and 100 oil.
As I see it, CNBC is the take-out party for somebody big. Investigators ought to sniff around.
The 50d MA for $WTIC is 77.79 and the 200d MA is 67.77, so Oil is so far above both the 50d MA and 200d MA lines that when it falls, and it will, the support is a long way down.
Last week I asked the important question, “The question is, what happens if and when the major economies of the US, UK, Europe and Japan slow down. Does anybody really think that the flaming hot economies of the BRIC markets are going to accelerate from here, to make up the difference?” I don’t think so.
Oil stocks fared rather badly this week as Crude Oil futures were rocketing north. XLE dropped -4.58 pct on Friday, and -3.52 pct W/W.
Here is the e-miNY Sept-07 Crude Oil chart.
Interactive Chart of Weekly Crude Oil:
Interactive Chart of Daily Crude Oil:
Gold & Precious Metals Review
Everybody is asking about gold. This week, $GOLD lifted a further +14.60/oz (+1.94 pct) to close at a new 27-year record high of 768.40. A week ago, it lifted +6.50 (+0.88 pct).
Thanks to an increasingly weaker $USD, the PM beat goes on. I am sure that the world’s leading Finance Ministers and Central Bankers are concerned.
For $GOLD, the 50day MA is now 715.99 and the 200d MA is 677.10.
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.
Spot silver chart for the week
This week, $SILVER lost -0.27/oz (-1.93 pct) to close at 13.64.
For $SILVER, the 50d MA is 12.93 and the 200d MA is 13.22.
Silver Bulls must be disturbed that the weekly price chart clearly shows that $SILVER has not broken out, and over about the past six weeks has under-performed $GOLD. Typically, $SILVER is the leader as Precious Metals get bullish.
I think this Bull run for PM is getting a little long in the tooth. The $USD will need some support soon. If that happens, it could spell the end of this intermediate term Bull cycle for PM. Longer-term, I hardly think the monetary authorities of the world are going to take away the signing pens of the govt legislators who continue to spend money in terms they cannot possibly fathom.
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.
Spot platinum chart for the week
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.
A week ago, $PLAT gained +26.40/oz (+1.90 pct) to 1414.20. The previous week, the gain was +17.90/oz (+1.31 pct). The week before that the gain was +33.80/oz (+2.53 pct), and the one before that $PLAT gained +32.30/oz (+2.48 pct).
This week, $PLAT gained another $34.40 (+2.43 pct) to close at 1448.60.
To the Chinese, platinum is even better than Gold.
On Aug 18, $PLAT closed the week at 1233.20. A gain of +18.4 pct in nine weeks is a major Bull run. Share prices can run up faster, but, remember, Platinum is money.
The 50d MA is 1323.88 and the 200d MA is 1278.52.
Spot palladium chart for the week
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.
This week, $PALL lost -6.35/oz (-1.65 pct) to close at 377.45.
The 50d MA is 351.17 and the 200d MA is 359.98.
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.
A week ago, $COPPER lost -7.30/contract (-1.96 pct) to close at 365.25, and I wrote, “I suppose the Metal Men of Zug have a better idea than you or me as to why.” This week, $COPPER dropped -10.10 (-2.77 pct) to 355.15.
The 50d MA of $COPPER is 346.52 and the 200d MA is 325.90, so the current price (355.15) is still above both the 50d MA and 200d MA, which is a fair indication that either recession is not close at hand or the $USD is going to continue its southbound journey.
The American peso is something that the Big Four miners have little interest in – unless they receive more of them.
But, maybe this market is leading the PM group? I am not so certain, but if I were unhedged, I’d be watching this market by the hour.
Table 12: Senior gold equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
This week, $XAU lost -5.14 (-2.87 pct) to close at 173.90.
The 50d MA is 156.38 and the 200d MA is 144.18.
A week ago, I asked you politely, “Don’t get fickle on me. These PM markets are not always headed northbound. In fact, once the expressway turns south for all vehicles, the yellow-colored ones almost always join the crowd. They may be last to turn around, but they have this powerful engine and emotional drivers that usually speed up to catch the rest. So, don’t get caught in a smash-up. Move your stops up, tighten your seat belts, and don’t hand back those hard-earned gains.” That was fair warning.
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 Daily data
Interactive Weekly data
MDG LIHRY AEM BGO IAG EGO RGLD GOLD CDE GRS
Interactive Daily data
Interactive Weekly data
CBJ SSRI SIL NG KRY UXG GRZ TSE_HRG TSE_GUY TSE_AGI
Interactive Daily data
Interactive Weekly data
NXG GSS MNG DROOY MFN RNO RANGY MRB CLG
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 Daily data
Interactive Weekly data
A week ago in this space, I added some words of advice,
There is really not a lot I can add at this point. It seems I have made believers out of many of you, and the daily Discourse is moving along at a high level. If I have one word of advice, it’s that you should all be on the look-out for new people coming into the community who may not have taken our non-promotional values to heart. If you happen to spot a lot of hype at the same time that share prices of the hyped stock are spinning their wheels on rather high daily trading volume (compared to the average), then speak up. This is where the ‘wisdom of crowds’ can play a big role. In other words, higher PM prices are fine, but we must remain open-minded and vigilant.
I am starting to see TV commercials on BNN for penny gold stocks that may hold promise but are attached to companies that have no revenues, and are entirely dependent on mining the market for cash in order to continue business. When I see these promotions, and their paid promoters being invited by BNN to speak as authorities, I figure we are close to a blow-off in share prices.
The average trader, including the average professional trader and portfolio manager has virtually no idea how much these people are earning to promote the stocks they are discussing on TV, and behind the podium at investor conferences. They are not regulated in the way an officer or director or broker or portfolio manager is regulated. The companies are required to file agreements and issue news releases when they option stock or pay stock for promotional services rendered, but I hardly think anybody at a securities commission in Canada or the US, or the TV network owner, is monitoring what is going on.
Here are the Weekly and Daily Data charts of the indexes:
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 and Daily data charts:
GDX Weekly data:
GDX Daily data:
The Toronto Exchange-listed goldminer iUnits S&P/TSX Capped Gold Index ETF trades under the ticker symbol TSE:XGD. Yes, just like GDX on the AMEX, you can trade XGD on Toronto.
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
Here is the chart of the week’s trading.
The $USD lost ground yet again, dropping -0.80 (-1.02 pct) to close the week at 77.41. How low can it go?
”This chart looks like a train track into the ocean. Nobody knows how far it can go down. (From a prior WIR)” Well this week, the Fed and HB&B did what they could to plug holes into the dike holding back the ocean. Do you think these people have more fingers than the dike has holes? I guess we’ll find out. (Two weeks ago in the WIR after the $USD had gained some strength)”
From that point on: same old, same old.
Two weeks ago, with some modest strength in the USD, I wrote,
“I will add that the Fed and HB&B are now saying they have the problem under control. It’s good to put these things on the record. Later, when the truth comes out, you can, I think, call a person an idiot without slandering them. You can point to the results and record of accomplishment, what I call “proof of concept”.I do think that the Fed will not want to cut rates again soon, and that may help the $USD, but if, as and when the US equity market crashes, ballooning the average dividend yields (and removing the need for corporations to continue cranking up the dividend payouts), and killing a lot of deals on the burner at Humungous Private Equity Corp, and putting a lot of US Housebuilders and Financial Institutions into a solvency situation, then the Fed will have to cut. And then the $USD will have to sink again. And then the Precious Metals Group will have to rise again.
The following data is a simulation of the M3 as of the past week.
“US M3 (estimated) continues to grow at an excessive rate, as it does in Europe. Central bankers are constantly diluting all fiat money at extreme rates. They have no option under the circumstances. The economy is relatively strong, but the credit markets are imploding.”
Interactive Chart of Weekly U.S. Dollar Index:
Interactive Chart of Daily U.S. U.S. Dollar Index:
Interactive Chart of Weekly Euro Dollar Index, priced in USD:
Interactive Chart of Daily Euro Dollar Index, priced in USD:
The Euro ($XEU) this week gained +1.08 (+0.76 pct) to close at 142.84.
The Euro’s 50d MA is 138.81 and the 200d MA is 135.04.
Weekly British Pound Index:
Daily British Pound Index:
This week, the Pound gained +1.54 (+0.56 pct) to close at 204.95.
The 50d MA is 201.96 and the 200d MA is 199.17. The recent high was 206.40 (July).
Weekly Japanese Yen Index:
The Japanese Yen ($XJY) gained +1.90 (+2.23 pct) to close at 87.02. It appears the Japanese Carry Trade was closing shop last week.
If you want another indicator of where the North American and European equity markets are headed, you can watch the Yen:USD pair. If the Yen strengthens a lot, it is likely that capital is being pulled out of foreign markets and debts to banks are being repaid.
Daily Japanese Yen Index:
Weekly Canadian Dollar Index:
Daily Canadian Dollar Index:
The Canadian Loonie is on a tear. this week, it traded up +1.05 (+1.02 pct) to close at 103.68 American.
The Loonie’s 50d MA is 97.68 and the 200d MA is 91.58, which aren’t even in the same world with the current price 103.68).
You might say this is good opportunity for Canadians to buy ocean-front condos in south Florida (at fire sale prices to boot). Others might say, wait until the Loonie approaches $1.10, and those condo prices drop a further -25 pct.
Interesting situation with the harsh Canadian winter coming. Years ago, my next door neighbor in the countryside some 75 miles from toronto was Prior Smith (“Canada Calling”) who was/is a well-known broadcaster and author (I think) who has been the centre of communications for the million or so Canadians who spend time in the winter in Florida. I once did too, until I decided that The Bahamas was really the place to be.
International Equity Markets Review
Here is the latest session data for the exchanges of the Americas.
Here is the latest chart for the Brazilian Bovespa stock exchange in Sao Paulo.
Here is the latest session data for the Toronto Stock Exchange composite index.
Europe>
Here is the latest session data for the bourses of Europe.
Asia-Pacific
Here is the latest session data for the Asia-Pacific stock exchanges.
Here is the latest chart for the Japanese Nikkei 225 index.
Here is the latest chart for the Singapore index .
Here is the latest chart for the Shanghai Composite index .
Here is the latest chart for the Hong Kong Hang Seng index .
Here is the latest chart for the India BSE 30 index .
Here is the latest chart for the Australian All Ordinaries index .
Table 13: International equities via an ETF perspective (ie, $USD)
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Japanese equity market ETF: EWJ
Here is the Japanese (EWJ) equity market ETF Monthly, Weekly and Daily data charts:
U.K. equity market ETF
Here is the United Kingdom (EWU) equity market ETF Monthly, Weekly and Daily data charts:
EWU Daily data:
Canada’s equity market
Here is the Canadian (EWC) equity market ETF Monthly, Weekly and Daily data charts:
US Equity Markets Review
A dozen NASDAQ stocks to watch.
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.
Table 14: Dow 30 List
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
You can do this table yourself by entering the following string into the Summaries window at www.billcara2.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 Billcara2.com that I broke into groups of ten, which you can add technical indicators for as well. (list one) (list two) (list three)
Value Line Report(s) this past Friday
Within this group of four, there are no companies presently in the Cara 100, although DuPont would be closest based on financial strength, profitability and Return on Equity. The problem for me with DuPont is simply that earnings are difficult to predict, which sets up a good opportunity for insiders and traders who are close to the situation to do much better than the rest of us who lack that advantage. I avoid casinos too for the simple reason I have no edge.
In the mid-1980’s, trying my best for a while as an institutional salesman for Dean Witter, Merck was my #1. I had a high regard for management at the time, and got to recommend switches between other Big Pharma stocks and MRK. As the 1990’s came to an end, I lost my interest in Merck. Then I switched my Big Pharma interest to Pfizer, but a while ago I removed the company from the Cara 100, and it is not likely to return.
With the greatest respect for the hard working people of Western Pennsylvania, I have as much interest in Alcoa (AA) as I do in, say, General Motors (GM) or Ford (F), which is to say zero.
Alcoa (AA)
(AA: Value Line Report Oct. 19: next one is due Jan. 18)
DuPont (DD)
(DD: Value Line Report Oct. 19: next one is due Jan. 18)
Merck (MRK)
(MRK: Value Line Report Oct. 19: next one is due Jan. 18)
Pfizer (PFE)
(PFE: Value Line Report Oct. 19: next one is due Jan. 18)
The Dow 30 Company links
Alcoa [GICS 15, Dow 30]
(AA: Yahoo Finance file)
(AA: StockChart chart)
(AA: Billcara2 chart)
(AA: ADVFN Financial Data)
(AA: Value Line Report Oct. 19: next one is due Jan. 18)
Altria Group Inc [GICS 30, Dow 30]
(MO: Yahoo Finance file)
(MO: StockChart chart)
(MO: Billcara2 chart)
(MO: ADVFN Financial Data)
(MO: Value Line Report Aug. 3: next one is due Nov. 2)
American International Group [GICS 40, Dow 30]
(AIG: Yahoo Finance file)
(AIG: StockChart chart)
(AIG: Billcara2 chart)
(AIG: ADVFN Financial Data)
(AIG: Value Line Report Aug. 24: next one is due Nov. 23)
American Express [GICS 40, Dow 30]
(AXP: Yahoo Finance file)
(AXP: StockChart chart)
(AXP: Billcara2 chart)
(AXP: ADVFN Financial Data)
(AXP: Value Line Report Aug. 24: next one is due Nov. 23)
AT&T [GICS 50, Dow 30]
(T: Yahoo Finance file)
(T: StockChart chart)
(T: Billcara2 chart)
(T: ADVFN Financial Data)
(T: Value Line Report Sep. 28: next one is due Dec. 28)
Boeing Co [GICS 20, Dow 30. Cara 100]
(BA: Yahoo Finance file)
(BA: StockChart chart)
(BA: Billcara2 chart)
(BA: ADVFN Financial Data)
(BA: Value Line Report Sep. 21: next one is due Dec. 21)
Caterpillar [GICS 20, Dow 30]
(CAT: Yahoo Finance file)
(CAT: StockChart chart)
(CAT: Billcara2 chart)
(CAT: ADVFN Financial Data)
(CAT: Value Line Report Jul. 27: next one is due Oct. 26)
Citigroup [GICS 40, Dow 30, Cara 100]
(C: Yahoo Finance file)
(C: StockChart chart)
(C: Billcara2 chart)
(C: ADVFN Financial Data)
(C: Value Line Report Aug. 24: next one is due Nov. 23)
Coca Cola [GICS 30, Dow 30]
(KO: Yahoo Finance file)
(KO: StockChart chart)
(KO: Billcara2 chart)
(KO: ADVFN Financial Data)
(KO: Value Line Report Aug. 3: next one is due Nov. 2)
Disney [GICS 25, Dow 30, Cara 100]
(DIS: Yahoo Finance file)
(DIS: StockChart chart)
(DIS: Billcara2 chart)
(DIS: ADVFN Financial Data)
(DIS: Value Line Report Aug. 17: next one is due Nov. 16)
Dupont [GICS 15, Dow 30]
(DD: Yahoo Finance file)
(DD: StockChart chart)
(DD: Billcara2 chart)
(DD: ADVFN Financial Data)
(DD: Value Line Report Oct. 19: next one is due Jan. 18)
ExxonMobil [GICS 10, Dow 30, Cara 100]
(XOM: Yahoo Finance file)
(XOM: StockChart chart)
(XOM: Billcara2 chart)
(XOM: ADVFN Financial Data)
(XOM: Value Line Report Sep. 14: next one is due Dec. 14)
General Electric [GICS 20, Dow 30, Cara 100]
(GE: Yahoo Finance file)
(GE: StockChart chart)
(GE: Billcara2 chart)
(GE: ADVFN Financial Data)
(GE: Value Line Report Oct. 13: next one is due Jan. 11)
General Motors [GICS 25, Dow 30]
(GM: Yahoo Finance file)
(GM: StockChart chart)
(GM: Billcara2 chart)
(GM: ADVFN Financial Data)
(GM: Value Line Report Aug. 31: next one is due Nov. 30)
Hewlett-Packard [GICS 45, Dow 30]
(HPQ: Yahoo Finance file)
(HPQ: StockChart chart)
(HPQ: Billcara2 chart)
(HPQ: ADVFN Financial Data)
(HPQ: Value Line Report Oct. 13: next one is due Jan. 11)
Home Depot [GICS 25, Dow 30]
(HD: Yahoo Finance file)
(HD: StockChart chart)
(HD: Billcara2 chart)
(HD: ADVFN Financial Data)
(HD: Value Line Report Oct. 5: next one is due Jan. 4)
Honeywell [GICS 20, Dow 30]
(HON: Yahoo Finance file)
(HON: StockChart chart)
(HON: Billcara2 chart)
(HON: ADVFN Financial Data)
(HON: Value Line Report Oct. 13: next one is due Jan. 11)
IBM [GICS 45, Dow 30]
(IBM: Yahoo Finance file)
(IBM: StockChart chart)
(IBM: Billcara2 chart)
(IBM: ADVFN Financial Data)
(IBM: Value Line Report Oct. 13: next one is due Jan. 11)
Intel [GICS 45, Dow 30, Cara 100]
(INTC: Yahoo Finance file)
(INTC: StockChart chart)
(INTC: Billcara2 chart)
(INTC: ADVFN Financial Data)
(INTC: Value Line Report Oct. 13: next one is due Jan. 11)
Johnson & Johnson [GICS 35, Dow 30, Cara 100]
(JNJ: Yahoo Finance file)
(JNJ: StockChart chart)
(JNJ: Billcara2 chart)
(JNJ: ADVFN Financial Data)
(JNJ: Value Line Report Aug. 31: next one is due Nov. 30)
JP Morgan [GICS 40, Dow 30]
(JPM: Yahoo Finance file)
(JPM: StockChart chart)
(JPM: Billcara2 chart)
(JPM: ADVFN Financial Data)
(JPM: Value Line Report Aug. 24: next one is due Nov. 23)
McDonalds [GICS 30, Dow 30]
(MCD: Yahoo Finance file)
(MCD: StockChart chart)
(MCD: Billcara2 chart)
(MCD: ADVFN Financial Data)
(MCD: Value Line Report Sep. 7: next one is due Dec. 7)
3M Company [GICS 20, Dow 30, Cara US 100 June 25-06]
(MMM: Yahoo Finance file)
(MMM: StockChart chart)
(MMM: Billcara2 chart)
(MMM: ADVFN Financial Data)
(MMM: Value Line Report Aug. 17: next one is due Nov. 16)
Merck [GICS 35, Dow 30]
(MRK: Yahoo Finance file)
(MRK: StockChart chart)
(MRK: Billcara2 chart)
(MRK: ADVFN Financial Data)
(MRK: Value Line Report Oct. 19: next one is due Jan. 18)
Microsoft [GICS 45, Dow 30]
(MSFT: Yahoo Finance file)
(MSFT: StockChart chart)
(MSFT: Billcara2 chart)
(MSFT: ADVFN Financial Data)
(MSFT: Value Line Report Aug. 24: next one is due Nov. 23)
Pfizer [GICS 35, Dow 30]
(PFE: Yahoo Finance file)
(PFE: StockChart chart)
(PFE: Billcara2 chart)
(PFE: ADVFN Financial Data)
(PFE: Value Line Report Oct. 19: next one is due Jan. 18)
Procter & Gamble Co. [GICS 30, Dow 30, Cara 100]
(PG: Yahoo Finance file)
(PG: StockChart chart)
(PG: Billcara2 chart)
(PG: ADVFN Financial Data)
(PG: Value Line Report Oct. 5: next one is due Jan. 4)
United Technologies [GICS 20, Dow 30, Cara 100]
(UTX: Yahoo Finance file)
(UTX: StockChart chart)
(UTX: Billcara2 chart)
(UTX: ADVFN Financial Data)
(UTX: Value Line Report Jul. 27: next one is due Oct. 26)
Verizon [GICS 50, Dow 30]
(VZ: Yahoo Finance file)
(VZ: StockChart chart)
(VZ: Billcara2 chart)
(VZ: ADVFN Financial Data)
(VZ: Value Line Report Sep. 28: next one is due Dec. 28)
Wal-Mart [GICS 30, Dow 30, Cara 100]
(WMT: Yahoo Finance file)
(WMT: StockChart chart)
(WMT: Billcara2 chart)
(WMT: ADVFN Financial Data)
(WMT: Value Line Report Aug 10: next one is due Nov 9)
Wrap up:
Once again, without my templates for screenshots and the routine for uploads to my web server, I cancelled the 30-some odd screenshots for today (Knobias Cara 100 tables, David’s RSI tables, Jock’s Impulse tables and so many other screen shots I take as I work myself through this WIR. I cannot afford to put in more time to figure out screenshots in Mac OS, when I decided the system has quite limited file management capabilities. I’ll get back to my usual routine next Tuesday or Wednesday after I get my Windows systems back from the repair shop.
Today (leaving in about 40 minutes) through Monday, I will be attending the Cambridge Natural Resources Conference in Toronto. Some of you have decided to join me in meeting some noted minerals explorationists, like Rob McEwen, Steve Wilkinson, and others who I have written about in these pages. It’s a free show and everybody is invited. I know plenty of you plan to attend, and I’m looking fwd to spending time with you.
btw, your discourse in the blog this week has been outstanding. It is interesting, informative and entertaining. Your capabilities and personalities shine. Thank you.
It’s been a slice once again. Have a good one. Wherever you are in this big world, we are connected. Not always in agreement, but definitely discussing, listening, thinking, improving…
And watching Asia-Pacific markets very early Monday morning.
Posted by Posted by Bill Cara on October 21, 2007 06:48:07 AM | Category: Cara Week in Review