Mark Haines

Mark Haines

YOUR Comments

Once again YOUR Comments is perhaps the most interesting/informative part of the Investors blog. Everything from investment concepts to political editorials/trends is covered there.

Of special note is a tribute to a tribute to legendary financial reporter Mark Haines who died yesterday started by JS

Link Here (scroll down to read comments)

Today’s from comments has another editorial from Yankee Bob.

Never in my wildest dreams could I envision a Party that is as anti-American as the GOP is They have served themselves up for sacrifice IF AND ONLY IF THE DEMS CAN ACT AT LEAST A LITTLE LIKE THE PARTY OF FDR ….

1. Raising taxes. They won’t raise taxes on the rich or corporations but they WILL raise taxes on services they hate like Abortions Why can’t we have a minimim corporate tax that they can’t squirm out of or why can’t you tax corporate profits earned in the US. You want to declare yourself as owned offshore,..fine. But why can’t your US revenue be taxed here except  that the GOP will be against it.

2.  They are against gov regulation. Disaster in the Gulf. Disaster in Massey Mines. Disaster on Wall St. That’s what less regulation gets you.Their willfull desire for less regulation brings death from food pathogens

3. They are actually clamoring for lifting rerictions on child labor. It’s astonishing. What would that be for except to lower wages.

4. they are against ending the Wars.The Wars that waste trillions of dollars with absolutely NOTHING to show for it. Iraq is still a mess,and Afghanistan is still little changed. If those trillions had been spent on Domestic Infrastructure, then we would  have low  unemployment and a booming economy and good roads,bridges, dams,schools,parks mass transit . The money was spent on GOP wars. We have nothing to show for it but a bloated deficit and a bad economy.

It doesn’t have to be that way but,the GOP demands it. The same money spent on domestic infrastructure,education,transportation  alternative energy projects, and healthcare would have transformed the us into a vibrant dynamo. Couple that with increased tax on the wealthy and making corporations actually pay their share, reducing the defense budget would balance the budget.

Do you realize that the Defense spending has doubled since the fall of the Soviet Union? What a waste! Do you feel safer. Any nut with a pack of matches can burn most of the West but we spend billions on anti-terrorism. On What. Air cargo is still not inspected. Incoming cargo in our ports is scarcely looked at. If the terrorists are so plentiful and represent such a grave threat,…then they certainly haven’t done much.  My dog shows more ambition and determination then they have.

Yankee Bob


Systemic Risk That

Threatens Global Economy

Japan- The amount of radiation spewing from the broken nuclear reactors will soon top Chernobyl. Yesterday had the highest readings yet recorded from reactor #1

Europe’s weak economiesThe financial stability of these countries keeps growing - Story LINK

The problem here is the trend. News keeps getting worse and the solutions used to fix the wounds don’t always work.

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KISS & Stocks

(Keep It Simple Stupid)

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

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING!

DOUBLE CHECK ALL DATA, I MAKE MORE THAN GRAMMAR MISTAKES

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Index Percentage Volume
Dow +0.31% Down
NASDQ +0.55% Up
S&P 500 +0.32% Up
Russell 2000 +1.30% -

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Technicals, Fundamentals & Analysis

  • Yesterday a rumor of Fed POMO #3 spread around 3 PM EST and stocks shot higher. Then the rally collapsed when it became just a rumor. This illustrated again how closely tied stock market bulls are tied to Fed liquidity.
  • Historically, trading decreases before a holiday weekend. So next Tuesday becomes the pivotal day.
  • UUP (the dollar ETF) still the index to watch. In the globalized world, when the goes dollar down stocks movie higher. Why? – It means our goods are cheaper abroad and theirs more expensive here. The dollar’s fall/weakness has been a major factor in stocks moving higher. All this is obviously linked to the Fed’s liquidity injections creating more $ and therefore weakening our currency. [Investors411 will has and will keep repeating the above mantra, because its so important to US equities and greatly impacts and improving US economy]
  • From Yesterday – Reading Tea Leaves -  Getting a little more bearish each day. However still believe and oversold bounce is likely, especially if/as the MO falls below -60 and we reach the 1295 support level.  Right now it looks like any bounce will just be another lower high. Sure looks like the call for bounce is happening.
  • Reading The Tea LeavesHolding with short term prediction of oversold bounce (see MO & US Dollar forecasts below) and bears asserting themselves as we get closer to and beyond June 30th.

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Shorter Term Forecasting Indexes

There are hundreds of forecasting tools, – These two tools have worked

When they stop working Investors411 will use other Indexes

  • The Dollar (USD) [Any daily price move over +/- 0.50 is significant. Dollar usually moves inversely to stocksDollar was flat yesterday -0.01%.  Since late April we have been in a bullish trend and established two higher highs and now a higher low. The dollar is the key index to watch and has a strong inverse correlation with socks. Trend for stocks = Bearish/Neutral (More Bearish than neutral)
  • McClellan Index - (MO) [The very rough guideline is over +60 = overbought market = sell positions or short stocks, & -60 = oversold market = buy stocks .] MO was basically flat. Closing price  -28.43 Yesterday Investors411 mentioned that stocks in April bounced off a low of just above -50. The same bounce seems to have started now.  Short term trend = Bullish/Neutral

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Paul’s Corner

As expected we had a bounce Wednesday. Silver up another 3.2%, US Oil up 1.7% and the Russell 2000 Small Cap Index up 1.3%  The S&P 500 up 0.3%. The small caps, aka “risk trade” lead they way. The oil stocks are moving up once again. Most indexes where up all afternoon and volume a bit higher than normal which is good. Is this the end of the correction or just a bounce?

The following group indexes all were up today with a decent move up through their Bollinger bands.

  • Trvl&Leisr-Gaming Index (INDEX)
  • Health-Products Index (INDEX)
  • Office Supplies&Equip Index (INDEX)
  • Comp-Educ/Enter Index (INDEX)
  • Health-Instruments Index (INDEX)
  • Retail-Jewelry Index (INDEX)
  • Chem-Speciality Index (INDEX)
  • BusSvc-Cml Printing Index (INDEX)
  • Comp-Financial Index (INDEX)
  • Health-Dent/Med Sup&Svc Index (INDEX)
  • Health-Bio/Genetic Index (INDEX)
  • Constr-Mobile/RV Index (INDEX)
  • Retail-Mail Order Index (INDEX)
  • Comp-Networks Index (INDEX)
  • Container Prod Index (INDEX)
  • Hsld-Furn/Office Index (INDEX)
  • Enrg-O&G Equip Index (INDEX)
  • Chem-Fertilizer Index (INDEX)

Here is how Your Stock List looked at the close yesterday.

  • SPRD jumped 8.6% closed on the 50 DMA
  • LYB up 4.63% with the oils, closed above the 50, buyable
  • BEXP up 4.44% with the oils, below the 50 above the 17 buyable
  • CPHD up 3.75% closed above the 17 in buying range
  • KSU up 3.3% mostly white candles the past 8 days, all green indicators
  • POT up 2.68% Below the 50 chart does NOT say buy at the moment
  • RVBD up 2.57% above the 17
  • PCLN up 1.61% chart still breaking down, most indicators red
  • ABC up 1.49% sitting just below the 17, basing
  • ALTR up 1.46% below the 17, above the 50 basing
  • RNOW up 1.32% below the 17  and the 50
  • ADTN up 1.27% appears to have settled down into a basing period, at the 50
  • SKWS up 0.32%, not buyable, on the 200
  • SAP up 0.35% broken down below the 50
  • JNPR up 0.14% Woof!
  • BIDU up 0.28% the mighty BIDU appears to be breaking down, NOT buyable
  • IMAX down 0.04% sell off with a hammer candle stick, usually a bounce after a hammer.

So what’s the market going to do today? Let’s load up Quote Tracker………here we go folks another day of fun!

Chart review is for education and NOT a stock recommendation.  Remember, you are responsible for your investment decisions, and I am not.  Please do your diligence, and please take ownership for your actions because I’m sure not going to.

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Positions

SLV and AGQ had another excellent day. Often, technically,  when stocks/ETF’s gap higher for the third time in a row it means exhaustion or they have temporarily run out of buyers. So if silver again gaps higher at open you could see a reversal. Very tempted to take 1/2  the profits into rally and let the rest ride.

Disclosure – I have a long term position in GLD for a senior center account I manage  and member of my family. I also own some SLV from a covered call position bought over two months ago. I own every position in the hypothetical Investors portfolio which now consists of SLV & REMX

CautionAGQ (2X leveraged silver ETF) does not exactly tracks silver. There are opening and closing distortions. Contact me if you want to know more. Same for ZSL(double short silver) DGP is double long gold – for those that like great risk

Last warning on YSL.

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Check out the advice, recommendations, analysis by bloggers on stocks,politics and trends in the comments section of the blog Many of the best concepts regarding YOUR Financial Future are discussed their. Watch for Paul’s Corner every Tuesday and Thursday

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Longer Term Outlook

NEUTRAL

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING

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