This weekend, I found that I didn’t have particularly strong feelings as much as say a week ago. One of the factors is the low volumes expected in the US in this vacation week. Another is that there are a lot of stocks down near the short-term Accumulation Zone with Buy alerts that have popped up for some and relatively close for others.

So, the Bulls could fight back, and I’m rather indifferent.

The final five minutes on Friday showed me that the Energy sector (XLE), which had been the rocket used at the open and with 25 minutes to go in the session, to send the broad market higher, pulled back a bit. I see that move as loading up ammo for Monday morning, but in spite of that, I am still not at all convinced the broad market is trending higher.

This being Thanksgiving week, volume will be one of the year’s lowest, so big moves are not expected. It’s probably a good time to sit back and look at the big picture.

Overall, I see the market trend as falling, to be led by the Energy and Basic Material sectors with Industrials and Consumer Discretionary not far behind. With rates falling -- how about that 10-year US Treasury Note yielding -4.16 pct -- the Banks and Utilities may hang in for now. I’ll be interested to see if the big banks can rally this market.

There may be a small bounce here, largely due to a further pull-back in commodity prices that I am anticipating, but at the end of the present long-term cycle, I do expect all ten major sectors of the equity market to be significantly lower.

Remember, there are reasons why commodity prices fall, and it’s usually caused by central banks and/or HB&B tightening or by the general economy slowing. Such conditions make it hard for the Bulls to rally much.

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International Economics Review

There isn’t much economic data coming out this week. This is a major travel week.

US Economic Calendar for next week.

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Relative Strength Index (RSI) analysis of the Cara 100 company stocks .

RSI > 70 (2)

RSI < 30 (8)

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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. (Screenshots will return after I get a new webmaster/techie)

“Jock” reports:

THIS WEEK saw  1 GREEN industry (tobacco) and 20 RED, compared to last week’s 0 green, 20 Red.
 
(insert weekly impulse chart)
 
Of the Cara 100 components, 14 are GREEN (last week: 11) , 52 are RED - (last week: 59):
 
(insert Cara 100 tables)
 
The component stocks of the major indices, on a weekly basis,  were (green/red):
 
(insert table: index components green-red)
 
ALL major US stock indices (DJIA, NDX, S&P500, Nasdaq, Russell2000, Wiltshire4500) stayed RED this week, as did Shanghai.  Hong Kong, and Bombay stayed neutral.
 
The CRB commodity index fell to NEUTRAL.  GOLD & SILVER stocks fell to NEUTRAL.
 
The US dollar index rose to NEUTRAL, and gained 0.62% over last week’s close.
 
BOTTOM LINE: There was minimal change this week in the industries, or stock indices. All index components saw less RED; all but NDX saw more GREEN. Commodities backed off a bit, and the dollar index gained a bit.
 
Time for a bit of levity regarding Wall Street’s expected “Last Laugh” on  the “dodgy debt” crisis:  http://www.youtube.com/watch?v=SJ_qK4g6ntM
______________________________________________________________
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.

For newbie traders, I do recommend Dr. Elder’s books, and I hear from many of you that his boot camps are well worth the time and money. And if you are interested in learning more about technical analysis, i recommend all the work done by Martin Pring.

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US Equity Markets Review

DJIA (interactive) chart

“Traders are taking note of a possible double top.” (WIR 39, Sept. 29)

A week ago, the DJIA closed at 13043, and I remarked that there was an over-sold condition and likely rally back to about 13300. Here’s what I wrote:

Monday and Tuesday gave little indication for the 600 point drop in the Dow 30 from the opening Wednesday through the close Friday. But be wary of that extremely weak close on Friday (13042.7). Usually that is a trap, to set up a possible rally off a strong open on Monday -- say from 13200, with an attempt, using the support of TH’s on FETV, to push through the technical resistance that will be at 13300.

On the Monday, the Bulls did all they could to stem the sell-off, and when the 13000 level held, it was Tuesday when the Bulls tried to rally the market on the back of the Tech and Telecom sectors, closing at the 13300 resistance. On Wednesday, however, they saw that resistance in the 13000-13350 zone was too strong to break-through, and the Bears took control, taking the Dow 30 down to a close just over 13200, and on Thursday to a close about 13100. That’s where the index traded, between 13100- and 13200 on Friday, closing with a 75-point flourish in the last 25-minutes.

The technical indicators reflect a weakening market. While I doubt that the low volume Thanksgiving week will show much if any change, any trend direction is likely to be sideways at best. The Bulls could try to move the market up into a right-side head-and-shoulders formation based on commodity prices, and how that will relieve the pressure on Mom & Pop yada yada. But that story will soon get old, and traders will see that the Energy, Basic Materials and Industrials are sagging, based on a slowing US economy. They will then shift their focus to the corporate earnings picture for these companies as well as for the Techs and Consumers.

I have pointed out for several weeks now 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.”

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NASDAQ Composite (interactive) chart

The Nasdaq Composite acted pretty much like the DJIA this week, with Monday serving as a line in the sand to stem the tide. Then at the end of the day, there was another one of those “Sell the close, and gather ammo for the open” tactics by the Bulls as the Nasdaq index plunged from 2620 to 2585 in minutes. The support that I had anticipated kicked in and on Tuesday the index opened at about 2625 and was rocketed up to a close near 2675.

Wednesday, however, was a day of reckoning as the flourish of opening orders, that started the day off at close to 2695 quickly fell to a trading range of 2660-2680. Even that didn’t hold as there was selling into the close, like for the Dow 30, that took the index down to 2640, and then back to 2600 on Friday morning.

Again, just like the Dow, there was a couple pump jobs during the session, including the last 20 minutes, that boosted the Nasdaq from a losing position on the week to a small winner, up +0.35 pct on the week (after going up +0.72 pct on the day).

I didn’t see anything this week that changes my outlook from last week, which is that “this index is likely to drop quickly to the 2400 level where upon there will be some gathering of the remaining Bulls to thwart a collapse below 2350. That 2350-2400 level is where I believe the next big fight will be.”

Here is the list of the ten highest-weighted non-financial stocks in the Nasdaq Composite. Put them in a watchlist (see Google Finance Portfolio) and watch them like a hawk:
AAPL MSFT GOOG QCOM RIMM CSCO INTC ORCL GILD EBAY

Daily RSI-7 for the Nasdaq 100 Big-10

Weekly RSI-7 for the Nasdaq 100 Big-10

Monthly RSI-7 for the Nasdaq 100 Big-10

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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 the scoreboard reads 1 up (call it flat) and 9 down. That's consistent with the DJIA, of which 25 components were up, and 2 down.

Table 1: Cara ETF List is sorted by price performance Week over Week (W/W), i.e. 1W%N.

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
XLP	28.57	0.13	0.46%	2.47%	2.00%	3.03%	8.71%	7.73%	3.66%	10.52%
IYH	71.02	0.48	0.68%	1.85%	0.45%	0.87%	6.86%	6.48%	-1.36%	8.03%
IYZ	29.69	0.26	0.88%	1.40%	-6.04%	-9.34%	0.10%	-5.11%	-10.95%	5.06%
XLF	30.40	-0.29	-0.94%	0.86%	-4.58%	-6.86%	-17.66%	-8.30%	-19.81%	-15.98%
XLY	34.08	0.04	0.12%	0.50%	-4.51%	-5.33%	-11.53%	-3.46%	-13.28%	-10.74%
XLI	38.75	-0.05	-0.13%	-0.44%	-3.53%	-2.39%	9.99%	3.00%	1.15%	9.53%
SMH	32.79	0.09	0.28%	-0.46%	-4.26%	-7.97%	-2.32%	-8.92%	-12.44%	-7.50%
XLU	41.68	0.01	0.02%	-0.60%	-0.57%	5.20%	13.20%	8.83%	-2.39%	15.78%
XLE	72.40	1.60	2.26%	-2.75%	-4.26%	-2.75%	27.96%	11.21%	10.20%	27.85%
XLB	40.31	0.01	0.02%	-2.94%	-5.44%	-4.25%	16.47%	10.74%	0.40%	18.49%

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.

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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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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:

The Energy sector ETF (XLE) lost -2.75 pct W/W to close at 72.40. That included Friday’s huge rally of +2.26 pct.

Exxon (XOM) down -2.01 pct W/W and -2.87 pct the previous Fri., is off -5.0 pct in 6 sessions, and now down to $85.10. That’s a $10 haircut or, in terms of the big picture, a loss of $55 billion in market cap in a month.

Now you know why I was opining that it would be wise to sell XOM into strength a month ago, and why, last week, I wrote: “ I won’t harp on this, but Mr. Exxon is down to 86.85 and headed lower.”

Chevron, too, is just the same. CVX dropped -1.47 pct this week plus -2.15 pct the prior Fri., for a loss of just shy of -4.0 pct in six sessions.

I still believe that after the pull-back kicks into high gear, it could be a few months, maybe longer, before share prices look attractive again. There are a growing number who think the SIV problems will so damage the US economy that it will take a couple years to repair, in which case the domestic oils will likely be out of favor for a long time.

While I do accept the notion that oil is harder to recover, and the costs are rising so quick that cheap oil is no longer the case, I also know that with the bountiful oil sands of the world able to produce oil in the 40’s, newer discovery and extraction technologies coming along all the time, and oil alternatives like solar, wind, uranium, etc, coming into their own, there was no reason for oil prices to close the prior week at 96.32, as I remarked.

In any case, Crude Oil closed this week down -2.48/bbl (-2.57 pct) to 93.84, and I think it’s going lower. In time, I think the price will work itself down to about 75. The 200-day Moving average sits at 71.53. But, as I say this average is “moving”. The 50-day MA is now at 85.79 and rising, so in a month or two, the 200-day MA will likely move up through 75, which is where I think the current price will intersect it.

Trading is an attempt to hit a moving target like a quarterback throwing to a receiver in motion. Too much time is spent looking back. More of it needs to be focused on the days, weeks and months ahead.

A week ago I wrote, “Cdn oil sands companies in the Cara 100 did poorly this week. Imperial Oil (IMO) was down -3.6 pct and Suncor (SU) down -2.4 pct.” this week IMO dropped -5.3 pct, SU was down -5.9 pct and EnCana (ECA) fell -4.9 pct, so it was another bad week as foreigners pulled their capital out of the Canadian oils, dropping the Loonie -3.4 pct W/W and the Toronto Stock Exchange and the Canadian ETF (EWC) about -5.6 pct.

I started writing about the Oils a month ago -- some say picking on XOM -- because the picture is more transparent than the one say within HB&B who are only going to tell us they have problems when their CEO has a knife in his back and told to jump overboard. Even then, we are not going to often hear from the likes of the Wells Fargo CEO who this week admitted the US housing industry crisis is the worst since the Great Depression of the 1930’s.

As an aside, knowing that Mr. Buffett has such a huge stake in Wells Fargo, do you think the Wells Fargo CEO believes his straight-talking Boss wants to hear the truth? Maybe, he’s angling for the big job after Buffett retires? Do you think? LOL

In any case, the US economy is slowing, and oil prices are likely headed down. And in every Bear market, it’s the speculative positions in commodities that get blown up, so that’s a double whammy.

Table 2: Senior oil & gas equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
CVX	85.98	1.82	2.16%	-1.47%	-2.83%	-3.69%	21.15%	5.64%	6.50%	25.43%
PBR	105.77	5.99	6.00%	-1.85%	13.37%	31.05%	112.26%	97.48%	98.67%	137.05%
XOM	85.10	0.61	0.72%	-2.01%	-3.22%	-7.64%	14.83%	5.49%	4.48%	17.10%
TOT	79.99	2.00	2.56%	-3.24%	0.97%	1.07%	12.71%	14.26%	9.53%	14.34%
ECA	68.04	0.68	1.01%	-4.91%	-6.13%	4.44%	50.07%	19.39%	12.59%	38.21%
IMO	52.91	0.66	1.26%	-5.25%	-3.83%	7.61%	48.37%	34.60%	25.05%	45.80%
SU	102.27	2.50	2.51%	-5.86%	-5.78%	-1.87%	38.37%	21.17%	22.48%	35.40%
CEO	163.26	-3.19	-1.92%	-7.24%	-21.13%	-8.54%	73.18%	68.27%	80.48%	91.08%
STO	30.87	0.38	1.25%	-7.49%	-7.66%	-6.11%	20.16%	18.69%	14.80%	15.66%

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Integrated Oil & Gas - Canada

Oil & Gas Exploration & Production -Canada

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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 -2.94 pct this week after falling -2.58 pct the prior week. That’s quite a stumble.

XLB closed the week at 40.17 after hitting a low on Friday of 39.76. It opened Oct 29 at 44.14. That’s quite a haircut (-9.0 pct) in 15 sessions.

Do I want to talk about Gold here or later?

(WIR#45 Nov 10): Even $GOLD was down on Friday after having such a stellar week. But goldminer shares were down on the week, and took a hit on Friday, which is a warning shot over the bow.

This week, $GOLD plummeted -47.70 an ounce (-5.71 pct). Don’t you just love it when the Trader Wizard puts up the right colored flag?

This week, Teck (TCK) dropped -11.0 pct, Rio Tinto -7.5 pct, and some major steelmakers, Nucor (NUE) and MittalArcelor (MT) -4.3 pct and -3.1 pct respectively.

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
GGB	30.03	1.06	3.66%	3.44%	-0.30%	6.11%	82.89%	54.87%	35.64%	99.93%
TS	48.25	1.27	2.70%	3.43%	-6.33%	-5.60%	-0.56%	13.37%	6.23%	10.79%
PKX	158.95	2.34	1.49%	1.85%	-4.48%	-0.25%	100.11%	27.67%	40.44%	118.37%
RIO	35.40	0.90	2.61%	-0.84%	-2.69%	6.43%	22.83%	-7.35%	-22.01%	35.06%
BHP	74.73	0.63	0.85%	-1.42%	-10.75%	-9.57%	92.26%	42.97%	44.94%	86.41%
AA	36.31	-0.02	-0.06%	-2.10%	-5.84%	-3.02%	23.80%	13.75%	-6.99%	28.26%
MT	70.75	1.20	1.73%	-3.10%	-6.56%	-8.86%	73.41%	31.46%	23.39%	73.11%
NUE	52.46	1.48	2.90%	-4.25%	-9.41%	-11.28%	-3.74%	14.39%	-20.96%	-4.95%
RTP	442.43	1.47	0.33%	-7.51%	19.34%	29.69%	116.77%	88.55%	55.88%	114.87%
TCK	42.12	0.25	0.60%	-11.03%	-13.23%	-12.70%	-39.18%	12.14%	3.41%	-39.93%

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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:

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
ERJ	48.83	0.87	1.81%	5.49%	1.98%	1.86%	19.74%	16.26%	3.48%	14.33%
MMM	81.57	1.92	2.41%	2.59%	-3.91%	-5.83%	4.23%	-4.48%	-5.16%	1.59%
UTX	74.30	0.35	0.47%	1.07%	-1.78%	-2.24%	18.29%	4.53%	8.50%	11.29%
GE	38.65	0.34	0.89%	0.70%	-4.17%	-3.47%	1.79%	3.90%	4.94%	7.48%
CAT	69.44	-0.29	-0.42%	-1.38%	-7.12%	-5.61%	13.54%	-4.88%	-8.57%	13.15%
FDX	96.80	-4.57	-4.51%	-2.95%	-5.50%	-6.31%	-11.82%	-7.07%	-11.14%	-18.06%
HON	55.88	-1.28	-2.24%	-3.25%	-5.85%	-4.18%	23.90%	3.25%	-3.89%	28.99%
BA	89.99	-1.35	-1.48%	-4.48%	-7.95%	-4.16%	0.92%	-2.97%	-5.61%	1.44%
ABB	27.97	0.22	0.79%	-6.58%	-9.10%	3.06%	56.96%	31.44%	38.12%	75.80%

XLI (Industrials) lost -0.44 pct W/W to close at 38.75, which was ok because the prior week’s loss was -3.1 pct.

After Fedex (FDX) dropped -2.63 pct the prior week, there was an attempt to rally it this week -- looks good for the “America Open for Business” nonsense -- but, then along came Friday... when FDX was hammered -4.5 pct, closing the stock down -3.0 pct on the week.

Woe is American business. When the shippers shut down, can the recession be far behind?

Anyway, last week I did opine that FDX “is breaking down. Most of the rest in my table -- and these are mostly high quality companies -- were down from -3 to -6 pct on the week.” This week, the losers were ABB (ABB) down -6.6 pct, Boeing (BA) -4.5 pct, and Honeywell (HON) -3.3 pct. But, Brazil’s Embraer (ERJ) gained +5.5 pct W/W.

With not much relevant econ news to come this week, there may be a small lift in the XLI, but frankly, I see lower prices in the weeks after that.

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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:

Consumer Discretionary (XLY) perked up a bit this week, gaining +0.50 pct, to close at 34.08. I think that was a small bounce following a loss of -7.1 pct in six sessions.

A week ago, I wrote: “This week, JC Penny (JCP) collapsed -12.0 pct and Starbucks (SBUX -11.6 pct W/W) was close behind.”

Well, this week, JCP dropped a further -7.9 pct, down to $43.19, which is about half what it was in late February.

Yes, “this picture will not get better until consumers have tickee, ie, disposable income to spend. Instead, people are having their homes foreclosed.”

SBUX, which dropped -11.6 pct a week ago, closed this week up +2.7 pct, which was not a latte bounce. In fact, Friday’s grind dropped the price -3.9 pct for the day.

Even McDonald’s (MCD) is getting into the act... “Dress down, close your eyes and ears to the sniveling kids, and enjoy our deep-discount prices for your daily Cup of Joe.” NOT

Coffee at Starbucks is a social outing. It’s just that with the reverse wealth effect happening, we’re not feeling all that sociable these days. Things will improve. I don’t know when, though. Maybe that new Exec VP of Partners will bring in the Hooter’s Girls? Do you think? LOL

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
SBUX	23.17	-0.93	-3.86%	2.66%	-9.24%	-11.23%	-34.27%	-12.93%	-17.84%	-41.33%
CCL	44.91	0.21	0.47%	2.32%	-2.58%	-4.95%	-11.85%	3.27%	-6.22%	-10.00%
TM	110.20	-0.28	-0.25%	2.17%	-2.48%	3.57%	-18.55%	-3.26%	-10.05%	-10.10%
WHR	76.16	-2.19	-2.80%	0.95%	-3.75%	-11.59%	-10.04%	-17.93%	-31.75%	-13.78%
NKE	62.64	-0.41	-0.65%	0.69%	-1.93%	-1.09%	28.28%	17.77%	18.21%	31.54%
DIS	32.53	0.13	0.40%	-0.64%	-4.10%	-3.79%	-4.88%	-0.15%	-9.66%	-1.60%
EBAY	32.74	0.61	1.90%	-2.15%	-6.51%	-10.84%	8.52%	-2.68%	-1.53%	-1.71%
BC	20.51	-0.70	-3.30%	-3.62%	-7.32%	2.55%	-35.75%	-14.61%	-37.55%	-36.81%
JCP	43.19	-1.14	-2.57%	-7.89%	-18.95%	-21.97%	-44.67%	-32.66%	-42.96%	-47.09%

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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

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	46.34	0.14	0.30%	8.02%	4.87%	3.02%	-2.54%	6.53%	-1.78%	-3.28%
WAG	39.97	0.38	0.96%	4.91%	2.20%	5.60%	-13.24%	-11.41%	-11.73%	-6.44%
WFMI	45.31	-0.49	-1.07%	4.45%	-7.36%	-4.11%	-0.37%	10.06%	13.79%	-8.39%
PG	73.19	1.36	1.89%	3.93%	5.23%	3.38%	13.40%	14.31%	15.59%	15.22%
KO	62.62	0.67	1.08%	2.94%	3.49%	6.57%	28.90%	17.31%	18.73%	32.84%
ABV	74.75	1.23	1.67%	1.84%	-9.37%	-1.57%	52.24%	34.52%	15.64%	57.80%
PEP	74.15	0.57	0.77%	0.91%	1.60%	5.33%	18.22%	8.45%	8.03%	19.98%
MO	73.18	0.91	1.26%	0.65%	1.48%	3.80%	12.72%	10.28%	4.56%	16.68%
DEO	89.30	0.37	0.42%	0.12%	-2.67%	-1.11%	12.28%	13.05%	5.57%	18.01%
BUD	49.74	-0.07	-0.14%	-0.14%	-1.82%	-3.06%	1.06%	5.94%	-1.07%	5.67%

XLP (consumer staples stocks) gained a striking +2.47 pct to close at 28.57 this week, giving this sector the #1 ranking.

I week ago I wrote: “InBev (ABV -11.0 pct) and Whole Foods Market (WFMI -11.3 pct) were torched this week, but the defensive stalwarts (PG, MO, PEP and KO) were up a bit. This is classic flight to safety stuff. It’s about the only thing that an independent Talking Head (one who hasn’t been totally bought and paid for) wants to discuss on Financial entertainment TV.”

So, yessirree, this is “classic flight to safety stuff”. Straight to Wal-Mart (WMT +8.0 pct W/W to 46.34) and Walgreen’s (WAG +4.9 pct).

The two Wallies would have been tied except a week ago I happened to go on and on about the Greatness from Bentonville. I wrote: “ The WMT is presently $42.90, undergoing a re-test of the Sept low. What I suggest is to buy the stock on weakness this week, or write a ton of 40 puts, or both.”

Ka-ching. Ka-ching.

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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

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
JNJ	67.75	0.87	1.30%	3.97%	4.58%	5.48%	2.03%	9.93%	7.45%	1.83%
UNH	53.42	0.40	0.75%	3.39%	9.15%	12.58%	1.62%	9.33%	-0.71%	12.18%
PFE	23.39	0.10	0.43%	2.45%	-1.18%	-2.83%	-11.03%	0.00%	-14.39%	-12.59%
AMGN	55.49	0.70	1.28%	2.23%	-2.00%	-0.82%	-18.87%	12.31%	2.14%	-23.40%
NVS	52.84	0.05	0.09%	1.42%	0.44%	0.48%	-9.12%	1.91%	-8.01%	-9.24%
AET	54.92	0.07	0.13%	0.55%	0.99%	3.92%	28.08%	12.40%	5.49%	32.59%
BMET	45.99	0.06	0.13%	0.24%	0.31%	0.48%	10.90%	1.05%	8.47%	41.68%
DNA	74.99	0.46	0.62%	-0.13%	0.21%	-0.01%	-8.33%	2.42%	-4.51%	-7.10%
GSK	48.95	-0.33	-0.67%	-1.55%	-3.68%	-3.57%	-9.03%	-1.71%	-13.82%	-5.81%
BMY	27.79	0.04	0.14%	-1.77%	-3.77%	-5.22%	5.34%	1.53%	-7.61%	12.69%

IYH (healthcare) gained +1.87 pct W/W to close at 71.02. But IYH lost -1.37 pct a week ago and is up just +0.87 pct over 4 weeks, which is not too hot.

The winner was Johnson & Johnson (JNJ) up +4.0 pct and United Health again (UNH +3.4 pct W/W) and the loser was BristolMyers (BMY -1.8 pct).

Btw, Johnson & Johnson makes Band-Aid, which are adhesive bandages used to cover small wounds. If your wounds from trying to catch falling knives get worse, you can always fall back on your United Health plan.

I think when the mayhem of this Bear is over, perhaps a year or two from now, there will be a lot of institutional investors institutionalized. Band-Aids will not suffice.

Some of you are starting to catch on because I see UNH is up from a low of 48.12 this month to a close of 53.42 on Friday. How are the accommodations, anyway? Spread the word.

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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

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
LEH	62.38	-0.59	-0.94%	7.42%	3.76%	9.02%	-20.67%	13.94%	-14.96%	-17.85%
GS	225.25	-1.77	-0.78%	6.59%	-1.89%	3.47%	12.22%	32.62%	-0.82%	14.50%
MER	56.11	-1.19	-2.08%	5.33%	-2.04%	-15.32%	-40.06%	-21.12%	-39.33%	-38.39%
UBS	47.55	-0.20	-0.42%	4.07%	-3.49%	-12.78%	-22.54%	-8.79%	-25.27%	-22.21%
C	34.00	-0.58	-1.68%	2.72%	-9.89%	-19.74%	-38.46%	-28.50%	-38.08%	-32.89%
JPM	43.09	-0.44	-1.01%	1.84%	-0.14%	-4.29%	-10.36%	-5.23%	-18.67%	-9.95%
DB	123.48	0.45	0.37%	1.38%	-2.43%	-1.22%	-8.76%	-2.12%	-21.38%	-2.86%
CS	60.28	0.03	0.05%	1.23%	-4.33%	-8.39%	-14.02%	-7.69%	-20.80%	-7.83%
HBC	87.31	0.04	0.05%