joe_sestak.jpg

Admiral Sestak (above) beats 30 year incubate Specter in PA Senate Democrat race

Incumbents Get Toasted

From TalkingPointsMemo.com a rundown of last night’s election across the USA. In almost every case incumbetes lost or did far worse than expected (D – AR.). The only exception is in PA – 12 John Murtha’s old seat where Democrats had a bigger than expected victory over Republicans for the congressional seat. Ron Paul’s son won Republican primary in KY.

Both the far left and far right (Ron Paul) are supporting Teddy Roosevelt like changes to Wall Street.  Libertarian, Ron Paul on the far right wants us out of the MidEast (and other areas our troops occupy) far more than any other Republican and most Democrats.

SCOREBOARD – UPDATED 2:41 AM

PA-SEN (D) Votes
Sestak 54%
562,037
Specter 46%
479,934
99% reporting
AR-SEN (D) Votes
Halter (runoff) 43%
138,477
Lincoln (runoff) 45%
144,989
Morrison 13%
42,317
98% reporting
AR-SEN (R) Votes
Baker 11%
15,840
Boozman 53%
73,708
Coleman 5%
6,876
Hendren 4%
5,490
Holt 17%
24,199
98% reporting
KY-SEN (R) Votes
Grayson 35%
124,238
Paul 59%
206,159
99% reporting
KY-SEN (D) Votes
Conway 44%
226,773
Mongiardo 43%
221,269
99% reporting
PA-12 House Votes
Burns R 45%
60,167
Critz D 53%
70,320
99% reporting

Republican’s Blocking Financial Reform

The following comes from Left wing Huffington Post. Republicans blocking Three Major Financial Reforms

KISS & Stocks (Keep It Simple Stupid)

If you don’t understand a term look in up at Investopedia.com dictionary

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING!

Index Percentage Volume
Dow -1.08% up
NASDQ -1.57% down
S&P 500 -1.42% up
Russell 2000 -1.86% -

Investors411 record – 5 years of beating benchmark S&P 500 and almost all major US indexes

Technicals, Fundamentals & Analysis

Its all about the Dollar. The dollar rose a HUGE +1.07 % and consequently stocks took it on the chin. Dollar is at 87.11 and close to major resistance at just above $88.  The McClellan Oscillator is in oversold territory at ironically the same -88. We sent a record at -123 a week back.  This probably means we could fall another 2 to 4% at on the major indexes before technically a turn becomes almost inevitable.

At some point in time this year stocks will reach +60 on the McClellan like they did almost 10 times last year.

Germany made a solo move and banned naked short selling (a good move , but a lack of coordination with Euro bad) Story = Bearish

All of this is about the European stability and survivability. If this EU falls so does the worlds largest economic zone. (yes its slightly bigger than the USA) The good news for Europe is the lower the Euro goes the better it is for their exports

Significant Indexes

  • McClellan Oscillator fell to -88.08 yesterday.  [+60 or above = Overbought = sell. -60 or below = Oversold = buy]. StockCharts has a better version of the McClellan chart ($NYMO)LINK. - This is OVERSOLD territory. The lower this oscillator go the more oversold markets become. -123 was the multi year low over a week ago.  Bullish
  • US Dollar – Yesterday the dollar rose to $87.11. (sorry for misprint yesterday,dollar started the day near 86) Up +1.07 [Anything over +/- @0.50 is significant.] Mantra - right now The Dollar Rules is very important . The area around $88 is a major resistance area/ multi year high for the dollar.

Positions

The  Positions Section = latest buys and sells  - These are positions I actually own

Have not had a chance to update the positions section of blog.  No buying & selling yesterday.

We are deeper into OVERSOLD territory, McClellan at -88.08 = The momentum on the downside is strong. It looks like we will reach or approach -123 again.

Our top two stock positions IMAX & ESTX are holding up quite well. Others are at or approaching the prices they were bought at.

Still own 5% position in UWM. Stopped out for 2% loss on other 5% Still looking at situation as an upcoming drops as buy the dips.

Long Term Outlook = NEUTRAL

AS ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING

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