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January 13, 2008
Week in Review #2 (2008-01-13)
Traders are concerned that the Bear is madly destroying wealth in US equity markets, but the same situation in occurring most everywhere in the world, save China and India, at least so far.
The Nikkei 225 and TOPIX are down -7.8 pct and -6.6 pct so far in 2008, which takes the important Japanese equity market back down to November 2005 – yes 2005 -- levels.
The Pound Sterling has just set a record low against the Euro, despite the much higher interest rates set by the Bank of England. Traders are calling it the European Dollar.
Confidence in the international domestic economies is down most everywhere, including once robust Ireland as well as other European markets like UK, Belgium, France and Spain. European retail sales are down, perhaps worse than the US.
While the DJIA and Nasdaq Composite were down this week by -1.5 pct and -2.6 pct respectively, there were losses of -5.2 pct in the Australian index, -4.4 pct in Singapore and South Korea, -2.4 pct in Hong Kong and -2.3 pct in the UK.
A consequence is that the Japanese Carry Trade is winding down. The Yen has lifted from 87.27 the day after Christmas to 91.82. As the topping out process advances in global equity prices over the past four or five months, there have been wild gyrations in the Yen trade – from 88.28 to 84.80, up to 92.77, down to 87.27 and now back to 91.82. Some traders are projecting a 98-100 level during the course of this Bear market in equities as investors are selling off equities and repaying loans made in Japan.
During the summer of 2007, with the Nikkei index trading at highs of about 18300, I opined that the Japanese equity market would be the first to collapse in a global Bear for the reason, I stated, that the Bank of Japan was keeping rates too low for too long and this was leading to increased debts as traders were taking out loans to invest abroad. The policy, I figured, was to depress the Yen in order to help Japanese exporters. I called that a dubious policy at best.
In any case, the slowing of the global economy, the liquidity crisis among the major banks and the need for Humungous Bank & Broker to obtain cash infusions is now a reality that is painfully obvious.
Although there may be pockets of Bull support, the resistance of the Bears will win the day, and equity prices will continue to seek lower levels.
The process of writing down assets and, without printing money excessively, rebuilding capital to once again lead to global economic expansion will take some time. Whether traders will decide to hang in and ride their portfolios slowly down from the top or perhaps sell off the riskier positions quickly, causing another October 1987 scenario, is still unknown.
Global Economics Review
US Economic Calendar for next week.
It is important to review the following reports this week on the US economy. On balance, this is not a healthy picture. It is in fact a worsening condition.
Econoday Report on US International Trade for November.
Econoday Report on US Import and Export Prices for December.
Econoday Report on US Pending Home Sales for November.
The economy is rapidly slowing and inflation surging in many countries of the world. The economic ills of the world are every bit as bad as the US.
Besides, except for the Shanghai Composite (+4.2 pct in 2008), the international stock market indexes have pulled back as far as the US markets.
Econoday International Report (Jan 11).
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.
“Jock” reports:
THIS WEEK closed with 2 GREEN industry and 23 RED, compared to last week’s 1 green, 23 Red. While ENERGY slipped from green to neutral, HEALTH services advanced from neutral to green. DRUGS moved all the way from RED to GREEN.
Among the Cara100, 14 were green, while 63 were red. This is a significant improvement over last week’s 8 to 83.
Ticker Name Score
-5wksScore
-4wksScore
-3wksScore
-2wksScore
-1wksScore
-0wksABB ABB Ltd. +0 +0 -2 +0 -2 -2 ABV COMP DE BEBA AM ADS +0 +0 -2 -2 -2 +2 ABX Barrick Gold Corp. -2 -2 -2 +0 +2 +2 ADBE Adobe Systems Inc. +2 -2 -2 -2 -2 -2 AET Aetna Inc. +2 +2 +0 +0 +0 +2 AMAT Applied Materials Inc. +0 +0 -2 +0 -2 -2 ATVI Activision Inc. +2 +2 +2 +2 +0 +0 BA Boeing Co. -2 -2 -2 +0 +0 -2 BBBY Bed Bath & Beyond Inc. +0 -2 -2 -2 -2 -2 BBD Banco Bradesco S.A. +2 +2 +0 +0 -2 -2 BC Brunswick Corp. +0 +0 -2 -2 -2 -2 BDK Black & Decker Corp. -2 -2 -2 -2 -2 -2 BHP BHP Billiton Ltd. +0 +0 -2 -2 -2 -2 BMY Bristol-Myers Squibb Co. +2 +0 -2 -2 -2 -2 CCJ Cameco Corp. -2 -2 -2 +0 +0 +0 CCL Carnival Corp. -2 +0 +0 +0 -2 -2 CEO CNOOC Ltd. +0 +0 -2 -2 +0 +2 CHA China Telecom Corp. Ltd. +2 +0 -2 +0 -2 +2 CHL China Mobile Limited +0 +0 +0 +0 -2 -2 CHRW CH Robinson Worldwide Inc. +2 +2 +2 +2 -2 -2 COST Costco Wholesale Corp. +2 +2 +0 +0 -2 -2 CSCO Cisco Systems, Inc. -2 +0 -2 +0 -2 -2 CTSH Cognizant Technology Solutions Corp. +0 +0 +0 +0 -2 -2 CVX Chevron Corp. +2 +2 +2 +2 +2 +0 DB Deutsche Bank AG +2 +2 -2 +0 -2 -2 DELL Dell Inc. -2 -2 -2 +0 -2 -2 DEO Diageo plc -2 -2 -2 -2 -2 -2 DIS Walt Disney Co. +0 +0 +0 +0 -2 -2 DOW Dow Chemical Co. +0 +0 -2 -2 -2 -2 DNA Genentech Inc. -2 -2 -2 -2 -2 +2 ECA EnCana Corp. +0 +0 +0 +2 +2 +0 ERJ EMBRAER - Empresa Brasileira de Aeronáutica S.A. -2 +2 -2 +2 -2 -2 ERTS Electronic Arts Inc. -2 -2 +2 +2 -2 -2 EXC Exelon Corp. +2 +0 +0 +0 +0 +2 GE General Electric Co. -2 -2 -2 +0 -2 -2 GFI Gold Fields Ltd. -2 -2 -2 -2 +0 +2 GG Goldcorp Inc. +0 +0 -2 +0 +2 +2 GGB Gerdau S.A. +0 +0 +0 +2 +0 +2 GOL GOL Linhas Aéreas Inteligentes S.A. +0 -2 -2 +0 -2 -2 GOOG Google Inc. +0 +0 +0 +0 -2 -2 GRMN Garmin Ltd. +2 -2 -2 +0 -2 -2 GS Goldman Sachs Group Inc. -2 -2 -2 -2 -2 -2 GSK Glaxosmithkline plc +2 +2 -2 -2 -2 +2 HBC HSBC HLDGS PLC ADS -2 +0 -2 +0 -2 -2 HDB HDFC Bank Ltd. +2 +0 +0 +0 -2 +2 IBKR Interactive Brokers Group, Inc. IBN ICICI Bank Ltd. +0 +0 -2 +0 +0 +2 IMO Imperial Oil Ltd. -2 +0 +0 +2 +0 +0 INFY Infosys Technologies Ltd. +0 +0 +0 +2 -2 -2 INTC Intel Corp. +2 +2 +0 +0 -2 -2 JCP J. C. Penney Company, Inc +0 +0 +0 +0 -2 +0 JNJ Johnson & Johnson +2 +0 +0 +0 -2 +2 KB Kookmin Bank -2 +0 +0 +0 -2 -2 KO Coca-Cola Co. +0 +0 +0 +0 +0 +0 KSS Kohl's Corp. +0 +0 -2 -2 -2 -2 LEH Lehman Brothers Holdings Inc. -2 +0 +2 +2 -2 -2 LLTC Linear Technology Corp. +0 +0 +0 +0 -2 -2 MBT Mobile Telesystems OJSC +2 +0 +0 +2 +0 +0 MFC Manulife Financial Corporation -2 -2 -2 -2 -2 -2 MICC Millicom International Cellular SA +2 +0 +0 +0 +0 -2 NKE Nike Inc. +2 +0 +0 +0 -2 -2 NOK Nokia Corp. +0 +0 -2 +0 -2 -2 NTES Netease.com Inc. +2 +0 -2 -2 -2 -2 NUE Nucor Corp. +2 +2 +0 +2 -2 -2 ORCL Oracle Corp. +2 +2 -2 +2 +2 -2 OXPS optionsXpress Holdings, Inc. +0 +2 +2 +2 +0 +0 PAYX Paychex Inc. +0 +0 -2 -2 -2 -2 PBR PETROLEO BRASILEIRO +0 +2 +0 +2 +0 +0 PDA Perdigao S.A. +0 +0 +0 +0 -2 +2 PG Procter & Gamble Co. +0 +0 +0 +0 +0 -2 PTR PetroChina Co. Ltd. +0 -2 -2 -2 -2 -2 QCOM QUALCOMM Inc. -2 +2 -2 -2 -2 +0 RIO COMPANHIA VALE ADS +0 +0 -2 +0 -2 -2 RIMM Research In Motion Ltd. -2 -2 -2 +2 -2 -2 RY Royal Bank of Canada -2 -2 -2 -2 -2 -2 SBUX Starbucks Corp. -2 -2 -2 -2 -2 +0 SLW Silver Wheaton Corp. +0 +0 -2 +2 +2 +0 SNDK SanDisk Corp. +0 +0 +0 +0 -2 -2 STO StatoilHydro ASA +0 -2 -2 -2 +0 -2 SU Suncor Energy Inc. +0 +0 +0 +2 +2 +0 SWK Stanley Works -2 +0 -2 +0 -2 +0 TCK Teck Cominco Ltd. -2 -2 -2 +0 +0 +0 TEF Telefonica SA +0 +0 +0 +0 -2 +0 TGP Teekay LNG Partners LP. +0 +0 +0 +0 +0 +2 TGT Target Corp. +0 -2 -2 -2 -2 +0 TM Toyota Motor Corp. +0 +0 -2 -2 -2 -2 TOT Total SA +2 +2 -2 +2 +2 +2 TS Tenaris SA -2 -2 -2 -2 -2 -2 TT Trane Inc +2 +0 +2 +2 +2 +2 UBS UBS AG +0 +0 -2 -2 -2 +0 UTX United Technologies Corp. +2 +2 -2 +2 -2 -2 VCP Votorantim Celulose e Papel S.A. +2 +0 -2 +0 -2 -2 VIP Vimpel-Communications +2 +2 +0 +2 +0 +0 WAG Walgreen Co. -2 +0 +0 +0 -2 -2 WBK Westpac Banking Corp. +0 +0 -2 -2 -2 -2 WFMI Whole Foods Market Inc. -2 -2 -2 -2 -2 -2 WHR Whirlpool Corp. +0 +0 +0 +0 -2 -2 WMT Wal-Mart Stores Inc. +2 +2 +2 +0 -2 +0 XOM Exxon Mobil Corp. +2 +2 +2 +2 +2 -2 YHOO Yahoo! Inc. -2 -2 -2 -2 -2 -2 Summary: (+2/-2/other) 29/29/41 20/26/53 9/56/34 23/30/46 10/69/20 18/60/21 Net: (+2)-(-2) +0 -6 -47 -7 -59 -42 ÂAmong the major indices, only the CRB, Shanghai and Bombay were GREEN. All the major US stock indices are RED – the exact same reading as last week. (This week, I’m not able to provide the breakdown of index components, due to time commitments on the Junior Miners project.)
Also like last week, GOLD and SILVER stocks stayed GREEN.
BOTTOM LINE: Improvement was concentrated in two sectors: Drugs, and Health Services.
Jock
______________________________________________________________
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.
US Equity Markets Review
DJIA=12606, down from 13450 three weeks ago Friday. That’s a loss of -844 points in three weeks in 13 trading sessions. When I saw the initial reaction to the inflation and econ slowdown data, I said I wouldn’t sugar-coat it, and that I was expecting significant downside action.
“Traders are taking note of a possible double top.” (WIR 39, Sept. 29, DJIA=13,895.63)
Two weeks and -760 Dow points ago, I wrote: “I do not think the US major market levels are sustainable. Inflation is too high and also on the rise, which is hurting buying power of consumers, which in turn is leading to lower corporate profits. I do not believe that money by decree of the US Administration and the European Union is any solution. It is merely putting off the day of reckoning for HB&B and providing a longer window for insiders of these distressed financial institutions to be selling their shares.”
This week, HB&B in the form of XLF was one of the US sectors that actually gained, but all of the gain (+0.62 pct) happened on Friday and it was relatively small.
NASDAQ Composite ino.com chart
NASDAQ Composite stockcharts.com chart
Nasdaq=2440 down -234 points from a week ago Friday at 2674.
“Traders are taking note of a possible double top.” (WIR 39, Sept. 29, Nasdaq=2701.5)
This week, the most damage was done by the Nasdaq and Russell 2000 small cap stocks, and the XLF was actually higher, which indicates that traders were mostly focused on the economy this week. But what I think may have been just as big a driver was the fact that the ECB and BoE did not drop rates on Thursday, which gave some hope to the Financial Bulls that maybe the liquidity crisis is over, and so there was some short covering in the Financials on Friday versus the continued sell-off in the Techs and Small Caps based on a continuing stream of negative economic reports.
I look at these Nasdaq stocks and see that while QCOM (+4.3 pct) was up, most were down, and some of the losses were severe. CTSH, RIMM, SNDK, ADBE, ADSK and INFY were all sold down over -5 pct W/W, and CTSH plunged -9.6 pct on Friday and -12.6 pct W/W. AAPL dropped -4.1 pct W/W and GOOG -2.9 pct.
That was quite a pullback after the Cara RSI-7 system generated a Sell Alert on GOOG 2007-12-11 at $699.20. GOOG is now trading at $638.25. Then again, the system generated a Buy Alert on Nortel and Bed Bath & Beyond right before NT and BBBY tanked in recent days.
This is a simplistic alert system. Work is being done to improve it in terms that most of you can still understand what the model is doing. I hate the Black Box thing unless of course I built it for my own use.
Traders need to be confident in any system they use, which means they must fully understand it and recognize its weaknesses and nuances.
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
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 4 up and 6 down.
Presently there are just 2 of the Cara 100 in the Distribution Zone and 8 in the Accumulation Zone. In recent days, there have been six Sell Alerts and five Buy Alerts.
Barrick (ABX +51.20) has been in the Distribution Zone for seven days M-W-D RSI-7 at 76.03 : 77.55 : 80.47. To trigger a Sell Alert, ABX would need to fall below 70 on the Daily (for short-term traders) and the Weekly and Daily for Intermediate-term traders.
Goldcorp (GG/G), which is the ABX peer, btw gave a Sell Alert three days ago after just one day in the DZ (2008-01-09 at $37.15), but since then GG has gained +2.45 pct to close the week at $38.06.
ICICI Bank from India (IBN) is another in the Distribution Zone. The BSE 30 Sensex index has been on a tear recently, and IBN has been very strong. This is a well run bank that is attracting considerable foreign buying of its shares because it is a major player in the stable and rapidly growing economy of India.
If I recall correctly, the other Indian bank I follow (HDB) gave a Sell Alert in December.
A feature I hope to implement will be a table that tracks the gains and losses of this simple RSI-7 system.
The Daily Report tables can be helpful in other ways. For instance, by tracking the changes, you could see that SNDK ($28.58) is rather over-sold (M-W-D RSI-7 at 26.01 : 15.21 : 12.95). If you are monitoring the stock of a quality company whose RSI-7 on the Daily and maybe the Weekly drops to about 10, sometimes it’s best not to wait until the RSI-7 jumps back to a cross-over at 30, but to wait until the peer group appears headed for a rally – even a mini-rally – and then write puts and buy calls.
That approach btw is used by day traders, but is not recommended for others.
Table 1: Cara ETF List is sorted by price performance Week over Week (W/W), i.e. 1W%N.
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
You can do this table yourself by entering the following string into the Summary window at Billcara2.com and then clicking on the link for Performance. XLE XLB XLI XLY XLP IYH XLF SMH IYZ XLU . You can also add more ETF’s – up to 30 in total.
For a list of components to any ETF, go to the AMEX.com web site, and click on ETF’s.
10 (energy: XLE)
15 (basic materials: XLB)
20 (industrial: XLI)
25 (consumer discretionary: XLY)
30 (consumer staples: XLP)
35 (healthcare: IYH)
40 (financial: XLF)
45 (technology, semiconductor: SMH)
50 (telecom: IYZ)
55 (utilities: XLU)
Individual Sector ETF Review
Sector 10 (energy: XLE, IYE, VDE, OIH, PBW and IXC)
Here’s the XLE Monthly, Weekly and Daily data charts:
XLE Monthly data:
XLE Weekly data:
XLE Daily data:
The Energy sector ETF (XLE), in two weeks, has dropped from 80.31 to 75.61, a loss of -2.44 pct W/W. Also, West Texas Intermediate Crude ($WTIC) moved up from 96.00 to hit 100.09 just seven sessions ago before dropping down to a current 92.16.
Two weeks ago, the XOM closed at 95.00, and I opined that once again the market was giving you an opportunity to make money by selling it. XOM closed this week at 90.30.
I wrote, “A week ago, I wrote, “Isn’t the market terrific? It’s possibly giving you yet another chance to sell XOM at 94 or better. You’ll look back in six months and say thank you, Mr. Market.” You’ll be even happier selling at 95 for all the reasons I gave off the top.”
With Crude at 96, I added, “I have been saying that I think $WTIC is going lower and that in time will work itself down to about 75. In the interim, this is a day trader’s market, so you can expect hour to hour changes.” Now it’s at 92.16, and I still believe the price is in a down cycle.
The 200-day Moving Average of $WTIC is at 77.65, which continues to rise. The 50-day MA is now at 93.60, and rising, but I believe it will now start to fall.
“As I wrote a few weeks ago when the 200d-MA was down at 70) in a month or two, the 200-day MA will likely move up through 75, which is where I think the current price will eventually intersect it.”
Big Oil had a bad day Friday as the Japanese Carry Trade was in an unwind, evidenced by a sharply higher Yen. CNOOC of China (CEO -5.1 pct W/W and -2.3 pct on Friday), PetroBrazil (PBR +1.2 pct W/W but -2.5 pct on Friday) and Statoil (STO -5.9 pct W/W and -3.7 pct on Friday) were big losers on Friday.
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 more ground, dropping -1.96 pct W/W, including -1.02 pct on Friday, closing the week at 39.98.
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 more ground, down 3.66 pct W/W, which was the worst sector performer, to close at 36.37.
As I wrote five or six weeks ago, with XLI at 39.40, “the econ data is still coming through quite soft and this week the same thing is likely (which happened). So I wouldn’t go chasing the Industrials unless there is a definite reversal in the data.”
There were some major losers this week, and Friday was a very big sell-off day.
Boeing (BA -6.2 pct W/W and -2.2 pct on Friday) was a leader to the downside. Several weeks ago I warned that the fundamental and quant data could not look better for the company, which had been fully priced into the stock, which was then probably a good time to sell. BA is down -16.4 pct over the past quarter (13 weeks).
In the same time frame, CAT is down -16.9 pct, GE -15.5 pct, MMM -17.8 pct, and FDX -21.0 pct. These are serious losses in “blue chip” portfolios.
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) continues to ring up losses. XLY dropped -1.95 pct W/W and -2.45 pct on Friday. Friday was the day following Super Thursday the 10th that I had alerted you to.
I wrote in the previous WIR, “I think the focus ought to be on the US Retailers now. The January 10th reporting by the majority of them will indicate the results of the important December period as well as set the important guidance for 1Q08. I remain skeptical that the consumer can handle more spending with more challenging borrowing conditions and higher prices as the fuel pump.”
I can’t see US shoppers returning to the stores and malls until the gasoline price drops at the fuel pump. Right now, they are tapped out according to the credit card companies. American Express (AXP) just reported the humungous write-offs of bad debts this week and BAM!! The stock dropped -10.0 pct on Friday and -18.6 pct over four weeks.
You have been getting the message.
This week, Starbucks was grinding down the shorts after the Chairman returned to the CEO position. The stock rocketed up +9.3 pct W/W.
But, most of this sector was thrown out with the grinds, including EBAY and CCL (-5.2 pct), and WHR -2.8 pct. DIS also dropped -2.6 pct. Friday was a tough day for these stocks because the US news of huge imported inflation, growing international trade deficits and a drop in Pending Home Sales was not a positive for the average American, who is now going into a protective shell.
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) gained +0.53 pct to 28.27, but was down -1.91 pct in Friday’s sell-off.
Altria (MO +5.5 pct) was a winner this week due to a strong recommendation by the Goldman analyst. Wal-Mart (WMT +4.4 pct) managed a gain based on a not too shabby December sales performance.
But there were many losers, including big hits on Friday: DEO -4.4 pct W/W and -3.9 pct on Friday; PG -2.6 pct W/W and -3.2 pct on Friday; and WAG -1.7 pct W/W and -2.4 pct on Friday.
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) was a safe haven beneficiary this week. IYH lifted a powerful +4.39 pct W/W.
Genentech (DNA +7.7 pct) and Amgen (AMGN +6.3 pct W/W) were huge winners. There were mostly winners here.
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 |
Traders returned to the Financials (XLF), which lifted +0.62 pct W/W to close at 27.55. Unfortunately, that all came from a few hours of trading on Friday.
The big winner (mostly due to Friday) was MER (+8.8 pct W/W and +5.1 pct on Friday).
A loser was Credit Suisse (CS -2.8 pct W/W, including -1.1 pct on Friday).
Traders are watching for the share dilution to come in this sector. Balance sheets need to be shored up to maintain reserves before the full SIV losses, and reserves against lawsuits, are taken. The SIV fiasco could lead to a global write-off of up to $1 trillion (my guess, although I have read others talk about $250 billion). That is about 1 pct of total global wealth, but the impact is even greater because now interest rates will have to be higher than otherwise anticipated, which means all bondholders are going to suffer and inflation will be higher, which hurts the profits of producers and the pocketbooks of consumers.
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 |
The SMH (semi-conductor) had another bad week, dropping -3.59 pct W/W, including -2.15 pct on Friday, to close at 28.20. Four weeks ago it was 33.42.
Last week, I wrote, “I continue advising traders to watch the Big Ten of Nasdaq in order to get a feel for where the market is headed.”
This week, CTSH, RIMM, AAPL, SNDK, ADBE, ADSK, INFY, ORCL, SAP and INTC were all hammered. Over two and four weeks, the losses are serious. Is there an end in sight? I think there might be a short-term rally from over-sold levels, but the sellers just hit the bids, so it looks like shock and awe with more to come.
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 -3.63 pct as the 9th worst performer among the ten sectors I follow. IYZ closed at 27.32. In week #51 (Dec 22), IYZ was 30.26. So, the selling has been heavy, down -8.8 pct in 4 weeks and -18.8 pct in three months.
T (-6.6 pct) and VZ (-0.23 pct) were both down on the week. AT&T was highly rated by Deutsche Bank for 2008 and the next day issued a dreadfully weak guidance for the 1Q.
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:
XLU (Utilities), which a week ago had dropped only from 42.99 to 42.92, was actually up +2.55 pct this week to 43.43.
This was a safe haven move from falling prices in other equity sectors supported by rapidly declining yields in the US Treasury instruments.
Bonds & Yields Review
Table 10: US Treasury Yields
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 3 Month | 2.99 | 3.11 | 3.09 | 2.74 |
| 6 Month | 2.95 | 3.08 | 3.09 | 3.11 |
| 2 Year | 2.56 | 2.69 | 2.72 | 3.13 |
| 3 Year | 2.48 | 2.61 | 2.66 | 3.09 |
| 5 Year | 3.04 | 3.15 | 3.18 | 3.46 |
| 10 Year | 3.78 | 3.89 | 3.87 | 4.09 |
| 30 Year | 4.37 | 4.45 | 4.38 | 4.54 |
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 2yr AA | 2.70 | 2.73 | 2.85 | 3.01 |
| 2yr AAA | 2.77 | 2.78 | 2.94 | 3.06 |
| 2yr A | 3.10 | 3.11 | 3.24 | 3.34 |
| 5yr AAA | 2.94 | 2.95 | 3.15 | 3.29 |
| 5yr AA | 2.92 | 2.92 | 3.09 | 3.21 |
| 5yr A | 3.23 | 3.23 | 3.44 | 3.39 |
| 10yr AAA | 3.49 | 3.47 | 3.67 | 3.74 |
| 10yr AA | 3.43 | 3.42 | 3.62 | 3.60 |
| 10yr A | 3.71 | 3.70 | 3.90 | 3.97 |
| 20yr AAA | 4.20 | 4.18 | 4.30 | 4.39 |
| 20yr AA | 4.33 | 4.32 | 4.44 | 4.19 |
| 20yr A | 4.15 | 4.13 | 4.25 | 4.76 |
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 2yr AA | 3.87 | 3.98 | 4.10 | 4.25 |
| 2yr A | 4.06 | 4.21 | 4.29 | 4.55 |
| 5yr AAA | 4.39 | 4.37 | 4.30 | 4.59 |
| 5yr AA | 4.57 | 4.57 | 4.59 | 4.75 |
| 5yr A | 4.45 | 4.46 | 4.51 | 4.75 |
| 10yr AAA | 5.00 | 5.07 | 5.03 | 5.21 |
| 10yr AA | 5.23 | 5.26 | 5.29 | 5.43 |
| 10yr A | 5.32 | 5.43 | 5.45 | 5.60 |
| 20yr AAA | 5.40 | 5.45 | 5.24 | 5.53 |
| 20yr AA | 5.66 | 5.76 | 5.72 | 5.77 |
| 20yr A | 6.05 | 6.10 | 6.06 | 6.28 |
This week, US Treasury yields continued to drop as Bond prices lifted. The yield for the 2-year dropped -16 basis points to 2.56 pct; the 5-year yield dropped -14 bp to 3.04 pct; the 10-year -9 bp to 3.78 pct and the 30-year -1 bp to 4.37 pct. That’s a four-week rally in what I think is a combined safe-haven and Yen rally play (ie, Carry Trade unwind).
One month ago, the yield for the 2-year was 3.13 pct (vs 2.56 today); the 5-year yield was 3.46 pct (vs 3.04 today); and the 10-year was 4.09 pct (vs 3.78 today). These are major moves as traders are fleeing from equities.
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 jumped to 94.14, while TIP moved to 107.26. Most of the gains were made on Friday.
This move into the safety of US Treasuries is an interesting one in that I have been pointing you to central bank re-po issues. What I wrote earlier was, “After year-end, I am expecting some fireworks as central bank funds have to be repaid the massive short-term borrowing they made to banks to avert a year-end liquidity crisis. If the cb’s are repaid, without apparent difficulty, then Bond prices will likely rally because the economy is slowing. But if there are problems in settlement (even possible failures at financial institutions) or if the central banks extend these emergency loans, then I have to believe rates are going to rise and bond prices fall…. The charts are showing the opposite picture though. Looking through the squiggly Stochastics for the Daily and now the Weekly data, it appears that bond prices could rally a bit more. If so, maybe that’s an indication the central banks will extend the loan window an extra couple weeks. That wouldn’t be good for equities though.”
I could have added that it would be terrific for the gold Bulls. This Friday, $GOLD hit an all-time record of $900.10.
Traders are watching.
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 |
In the second last WIR, I wrote, “The whole issue of Countrywide (CFC), Fannie Mae (FNM) and Freddie Mac (FRE) could become a red alert at any moment. On Friday, CFC and FNM were both down -3.21 pct and FRE was down -2.79 pct. Yes, there has been some recent buying, but I prefer to call that short-covering to book some profits before year-end, and some bottom-fishing, which I think is stupid (but it’s not my money!).”
“Stupid money” was the $2 billion that Bank of America injected into Countrywide at over $22/share in August and the $4 billion they added this week. CFC, this week, closed down -24.8 pct, including a loss on Friday of -18.3 pct.
Like I say, it’s not mine. Maybe yours?
Consumer Finance -USA -- Interactive Weekly Data Charts
Consumer Finance -USA -- Interactive Daily Data Charts
Commodities Review
The $CRB was quiet this week -0.29 pct W/W to 365.15, perhaps consolidating the previous week’s gain, but also looking like it may have peaked this week at 369.53.
The 50-day Moving Average for $CRB is presently at 352.19 and the 200-day MA is now 326.90, and still rising.
Interactive Chart of Weekly CRB Commodities Index:
Interactive Chart of Daily CRB Commodities Index:
Oil Review
$WTIC (US Light Sweet Crude called West Texas Intermediate) fell -5.75 pct to 92.16.
The 50d MA for $WTIC is now at 93.60 and the 200d MA is 77.65. The price probably peaked seven sessions ago at 100.09. I look for lower prices over the next several months.
Here is the e-miNY Dec-07 Crude Oil chart.
Interactive Chart of Weekly Crude Oil:
Interactive Chart of Daily Crude Oil:
Gold & Precious Metals Review
Unlike $WTIC, the $GOLD contracts continue to gain. The lift this week was a remarkable +32.00/oz to 897.70 (+3.70 pct). Friday hit a record of 900.10, and I believe the probabilities are that traders will now take profits.
The 50-day MA for $GOLD is now 820.72 and the 200d MA is 723.20.
And this week the gold stocks rallied a lot again. Some of the gains in the majors and intermediate miners were huge.
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 gained +0.91 (+5.87 pct W/W) to close at 16.37. The rally has been most impressive.
For $SILVER, the 50d MA is 14.80 and the 200d MA is 13.60.
I am rushing once again to get this WIR done so I can get out to take a break. Sorry.
Interactive Chart of Weekly Silver EOD Continuous Contract Index:
Interactive Chart of Daily Silver EOD Continuous Contract Index:
Interactive chart of the Silver Bullion index.
$PLAT gained +22.30 this week to close at 1569.40.
The 50d MA for $PLAT is 1487.62. The 200d MA is 1359.50.
As I wrote here six weeks ago, “the charts for Platinum and Palladium show they are entering a bottoming pattern, which might be an indication that gold and silver are ready to bottom as well.” Yes, I saw it happen but didn’t believe it. As you know, I also wrote back then, “But I don’t think so because gold and silver are taking their cue from the strengthening $USD, which is going to push those prices lower.”
For a while, that’s what happened to the $USD and gold & silver as plat and pall lifted.
I could beg off but twice wrong doesn’t make a right. Good traders never use the word â€hope’.
I have also been spending very little time in the market. It’s either that or book off completely because I cannot keep up to the various initiatives I recently started.
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.
This week, $PALL gained +3.65/oz to move to 385.65.
The 50d MA is 368.51 and the 200d MA is 365.96.
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, $COPPER continued its string of gains, going up +14.65 (+4.64 pct) to close at 330.40.
The 50d MA of $COPPER is 312.04, down from 328.81 just four weeks ago, and the 200d MA is 339.02, up from 337.82 three weeks ago, so the current price (330.40) is still below the 200MA, and may, despite the rally of the past four weeks, continue pointing traders to a recession.
Having said that, the $COPPER price easily burst through resistance of the 50d-MA.
Interactive Chart of Weekly Copper EOD Continuous Contract Index:
Interactive Chart of Daily Copper EOD Continuous Contract Index:
Interactive chart of the Copper metal index.
Table 12: Senior gold equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
This week, $XAU (the Philadelphia Exchange goldminer index) gained +7.32 (+3.93 pct) to move to 193.55. The past few weeks have been much more explosive to the upside than I had expected.
The goldminer ETF’s (the US’s) GDX (+5.55 pct) and (Canada’s) XGD (+8.25 pct) joined the party.
The 50d MA for $XAU is 176.17 and the 200d MA is 155.39, which are both up on the week.
The precious metals stocks could begin to see profit-taking any day. The current price vs the 50d MA and 200d MA is quite extreme. Day traders have been and will continue to enjoy the ride. If I wasn’t so stressed from overwork, I’d be right there with them.
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
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
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
The following data is a simulation of 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.”
Here is the chart of the week’s trading.
This week the $USD gained +0.25 pct to close at 76.01. The pullback on Thursday surprised me. I hadn’t anticipated that both the BoE and ECB would toe the line on rates, which immediately caused a sell-off in the $USD.
Now what does Bernanke do? Well, if he wants to see $1000 gold at the end of the month, he’ll drop the Fed rate by -50 basis points. The alternative is to atch equity prices get smashed.
Choose your poison.
The 50d MA is 76.20 and the 200d MA is 79.68.
Interactive Chart of Weekly U.S. Dollar Index:
Interactive Chart of Daily U.S. U.S. Dollar Index:
The Euro ($XEU) this week gained +0.11 pct to close at 147.88.
The Euro’s 50d MA is 146.35 and the 200d MA is 139.32.
Had there been a rate cut by the ECB on Thursday, the Euro was headed south and $GOLD would have been dumped. Traders are on edge here.
Interactive Chart of Weekly Euro Dollar Index, priced in USD:
Interactive Chart of Daily Euro Dollar Index, priced in USD:
The Pound lost -0.79 pct to 195.73.
The 50d MA is now 203.30, and the 200d MA is 201.48.
Weekly British Pound Index:
Daily British Pound Index:
Weekly Japanese Yen Index:
The Japanese Yen ($XJY) lost -0.46 pct to close at 91.82. But on Friday, the gain was +0.46 pct on the day, which followed the decisions by the BoE and ECB to hold rates. Traders then sold USD and bought Yen.
The 50d MA of the Yen is 89.80 and the 200d MA is 85.64.
“As the Yen falls, the money flow is into US and Japanese equities.” And vice versa.
But you heard that already. :-)
Daily Japanese Yen Index:
The Loonie (Cdn Dollar) dropped -1.89 to 98.09, for a loss of -1.89 pct.
That is consistent with the lower oil price, but not the gain in gold this week.
The Loonie’s 50d MA is 101.45, and the 200d MA is 96.27.
It is a far cry from 110.17, just a few weeks ago.
Weekly Canadian Dollar Index:
Daily Canadian Dollar Index:
International Equity Markets Review
I have added another 16 country index charts from StockCharts.com (with their formal approval btw as long as I don’t publish too many) because I think it is important to be watching these markets move through a trend juncture together.
The domestic equity markets are, of course, quite different than ETF and closed-end fund securities that are $USD denominated and trade in the US.
The international markets were mostly weak again this week. The Japanese markets were especially weak.
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.
Brazilian Bovespa stockcharts.com chart
Here is the latest session data for the Toronto Stock Exchange composite index.
Toronto 300 stockcharts.com chart
Toronto CDNX stockcharts.com chart
Europe
Here is the latest session data for the bourses of Europe.
Here is the latest session data for the London stock exchange FTSE.
FTSE 100 stockcharts.com chart
Here is the latest session data for the German DAX.
Here is the latest session data for the French CAC 40.
Here is the latest session data for the Milan Italy stock exchange MIBTEL.
Italian Milan Index stockcharts.com chart
Here is the latest session data for the Swiss market index.
Swiss Market Index stockcharts.com chart
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.
Tokyo Nikkei 225 Index stockcharts.com chart
Here is the latest chart for the Singapore index .
Singapore Straits Times Index stockcharts.com chart
Here is the latest chart for the Shanghai Composite index .
Shanghai Composite Index stockcharts.com chart
Here is the latest chart for the Hong Kong Hang Seng index .
Hong Kong Hang Seng stockcharts.com chart
Here is the latest chart for the India BSE 30 index .
Mumbai BSE 30 Sensex Index stockcharts.com chart
Here is the latest chart for the Australian All Ordinaries index .
Sydney All Ordinaries Index stockcharts.com chart
Russia (RTS) stockcharts.com chart
Table 13: International equities via an ETF perspective (in $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
The major US stock indexes were all down this week, but the losses were not more significant than the key international markets.
One thing traders need to watch for is a sign that the Bulls can muster some strength. I look to the Daily RSI-7 for that – across the major market indexes in the US and then the various industry groups. If you see a STO bouncing across the bottom, take that as a sign the Bulls have been cut into steak and are grilling on the barbi.
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
This week, Value Line reported on General Electric (GE), Hewlett-Packard (HPQ), Honeywell (HON), IBM (IBM) and Intel (INTC). General Electric and Intel are Cara 100 Global Best Companies.
How can I look at five important Dow stocks in ten minutes (that I have before rushing out of here) and do justice? The simple answer is I can’t. But I’ll give it a shot.
General Electric [GICS 20, Dow 30, Cara 100]
(GE: Value Line Report Jan. 11: next one is due Apr. 11)
The Value Line analyst wimped out. Probably wrote this from a cruise ship somewhere. Jeff Immelt (GE CEO) could have written this crap.
Hewlett-Packard [GICS 45, Dow 30]
(HPQ: Value Line Report Jan. 11: next one is due Apr. 11)
This is a good write-up. The analyst is pointing you to the reasons why the company has been prosperous and will continue to do so.
Value Line just raised the Safety and Technical ratings from 3 to 2. This is one that could be raised again to a 1.
Not my favorite company but the mistake in not putting it in the Cara 100 is all mine.
Honeywell [GICS 20, Dow 30]
(HON: Value Line Report Jan. 11: next one is due Apr. 11)
Another good analytical study of a solid company.
Share buy-backs and growing dividends are helping keep the price high. But the analyst does see strong continued profit growth for 3 to 5 years.
IBM [GICS 45, Dow 30]
(IBM: Value Line Report Jan. 11: next one is due Apr. 11)
VL raised the Technical from 3 to 2 this week. Solid prospects for a well managed company.
But again, it’s about share buybacks and rapid dividend growth. This company really should be in the Cara 100.
Intel [GICS 45, Dow 30, Cara 100]
(INTC: Value Line Report Jan. 11: next one is due Apr. 11)
In a rather shaky semi-conductor industry, the VL analyst just raised the Safety rating from 3 to 2 this week.
The operations growth may have slowed a lot in 2006, and for the foreseeable future, but the company is back on the rails.
I like this company, as you know, but it still is not the best time to add positions.
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 Nov. 2: next one is due Feb. 1)
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 Nov. 23: next one is due Feb. 22)
American Express [GICS 40, Dow 30]
(AXP: Yahoo Finance file)
(AXP: StockChart chart)
(AXP: Billcara2 chart)
(AXP: ADVFN Financial Data)
(AXP: Value Line Report Nov. 23: next one is due Feb. 22)
AT&T [GICS 50, Dow 30]
(T: Yahoo Finance file)
(T: StockChart chart)
(T: Billcara2 chart)
(T: ADVFN Financial Data)
(T: Value Line Report Dec. 28: next one is due Mar. 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 Dec. 21: next one is due Mar. 21)
Caterpillar [GICS 20, Dow 30]
(CAT: Yahoo Finance file)
(CAT: StockChart chart)
(CAT: Billcara2 chart)
(CAT: ADVFN Financial Data)
(CAT: Value Line Report Oct. 26: next one is due Jan. 25)
Citigroup [GICS 40, Dow 30]
(C: Yahoo Finance file)
(C: StockChart chart)
(C: Billcara2 chart)
(C: ADVFN Financial Data)
(C: Value Line Report Nov. 23: next one is due Feb. 22)
Coca Cola [GICS 30, Dow 30]
(KO: Yahoo Finance file)
(KO: StockChart chart)
(KO: Billcara2 chart)
(KO: ADVFN Financial Data)
(KO: Value Line Report Nov. 2: next one is due Feb. 1)
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 Nov. 16: next one is due Feb. 15)
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 Dec. 14: next one is due Mar. 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 Jan. 11: next one is due Apr. 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 Feb. 29)
Hewlett-Packard [GICS 45, Dow 30]
(HPQ: Yahoo Finance file)
(HPQ: StockChart chart)
(HPQ: Billcara2 chart)
(HPQ: ADVFN Financial Data)
(HPQ: Value Line Report Jan. 11: next one is due Apr. 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 Jan. 4: next one is due Apr. 4)
Honeywell [GICS 20, Dow 30]
(HON: Yahoo Finance file)
(HON: StockChart chart)
(HON: Billcara2 chart)
(HON: ADVFN Financial Data)
(HON: Value Line Report Jan. 11: next one is due Apr. 11)
IBM [GICS 45, Dow 30]
(IBM: Yahoo Finance file)
(IBM: StockChart chart)
(IBM: Billcara2 chart)
(IBM: ADVFN Financial Data)
(IBM: Value Line Report Jan. 11: next one is due Apr. 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 Jan. 11: next one is due Apr. 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 Feb. 29)
JP Morgan [GICS 40, Dow 30]
(JPM: Yahoo Finance file)
(JPM: StockChart chart)
(JPM: Billcara2 chart)
(JPM: ADVFN Financial Data)
(JPM: Value Line Report Nov. 23: next one is due Feb. 22)
McDonalds [GICS 30, Dow 30]
(MCD: Yahoo Finance file)
(MCD: StockChart chart)
(MCD: Billcara2 chart)
(MCD: ADVFN Financial Data)
(MCD: Value Line Report Dec. 7: next one is due Mar. 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 Nov. 16: next one is due Feb. 15)
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 Nov. 23: next one is due Feb. 22)
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 Jan. 4: next one is due Apr. 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 Oct. 26: next one is due Jan. 25)
Verizon [GICS 50, Dow 30]
(VZ: Yahoo Finance file)
(VZ: StockChart chart)
(VZ: Billcara2 chart)
(VZ: ADVFN Financial Data)
(VZ: Value Line Report Dec. 28: next one is due Mar. 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 Nov 9: next one is due Feb 8)
Wrap up:
It’s been a slice. Now I’ll do the Hash House Harrier thing. It gets me out of the house.
Time for a break.
Posted by Posted by Bill Cara on January 13, 2008 03:30:50 PM | Category: Cara Week in Review