http://etfdigest.com/ Up-to-date market data, commentary, and annotated charts directly from Dave Fry. Wed, 11 Nov 2009 17:12:58 CST en-us http://etfdigest.com/daveDaily.php?id=946 http://etfdigest.com/daveDaily.php?id=946 MARKET COMMENT November 11, 2009 There wasn’t much news other than more bullish thinking low interest rates are with us as far as the eye can see. Markets are getting a little overbought now as dip buyers have pounced on stocks once again. News was sparse other than most companies continue to post losses but are beating estimates. Applied Materials shares rose nearly 2% after they announced another 1,500 or so job cuts. dave@etfdigest.com Wed, 11 Nov 2009 17:12:57 CST http://etfdigest.com/daveDaily.php?id=945 http://etfdigest.com/daveDaily.php?id=945 NO MARKET COMMENT TODAY November 10, 2009 There will be no MARKET COMMENTARY for today. Just a very big THANKS to all our suscribers. Best, Dave Fry dave@etfdigest.com Tue, 10 Nov 2009 15:46:33 CST http://etfdigest.com/daveDaily.php?id=944 http://etfdigest.com/daveDaily.php?id=944 MARKET COMMENT November 9, 2009 BENNY AND TIMMY WANT TO PUMP YOU UP! Market behavior is mind-numbing but there are those stepping outside the logical box trying to reason with what’s happening like this note from Black Swan Capital today: “Enough is enough. The correction in risk-appetite trades has gone on long enough. Maybe the logic goes a little something like this: - Global economic growth is improving . dave@etfdigest.com Mon, 09 Nov 2009 17:11:51 CST http://etfdigest.com/daveDaily.php?id=943 http://etfdigest.com/daveDaily.php?id=943 MARKET COMMENT November 6, 2009 ASK ALICE, I THINK SHE KNOWS Let’s see, everyone was hoping for a good employment report but instead we got a stinker and the stock market did what?!? Yeppers, it rallied. This is where logical and rational thinkers become lost like Alice. dave@etfdigest.com Fri, 06 Nov 2009 17:34:14 CST http://etfdigest.com/daveDaily.php?id=942 http://etfdigest.com/daveDaily.php?id=942 MARKET COMMENT November 5, 2009 WALL STREET ROULETTE Wow! You can’t make up this much two-way action except with a roulette wheel. For the tourists, Da Boyz got the DJIA back to 10,000 but volume was again relatively light which is mystifying. Once again shorts are squeezed and this two-way action is difficult for most investors to either trade or comprehend. dave@etfdigest.com Thu, 05 Nov 2009 17:34:18 CST http://etfdigest.com/daveDaily.php?id=941 http://etfdigest.com/daveDaily.php?id=941 MARKET COMMENT November 4, 2009 President: “Mr. Gardener, do you agree with Ben, or do you think we can stimulate growth through temporary incentives?” Chance the Gardener: “As long as the roots are not severed, all is well. And all will be well in the garden. dave@etfdigest.com Wed, 04 Nov 2009 17:30:31 CST http://etfdigest.com/daveDaily.php?id=940 http://etfdigest.com/daveDaily.php?id=940 MARKET COMMENT November 2, 2009 STOCK MARKET THRILL RIDE Which is more perilous? Investing in markets the past two years or being a daredevil? Um, that’s a tough choice Mr! Anyway, stock markets tried really really hard to rally off short-term oversold conditions. dave@etfdigest.com Mon, 02 Nov 2009 17:12:34 CST http://etfdigest.com/daveDaily.php?id=939 http://etfdigest.com/daveDaily.php?id=939 MARKET COMMENT October 30, 2009 HEAVIER VOLUME SELL-OFF AGAIN What’s left to say other than, BOO!?! You can do that on Halloween or to the markets this week. And, this week has given new meaning to “volatility” as many investors’ need a chiropractor for whiplash injuries. dave@etfdigest.com Fri, 30 Oct 2009 18:14:13 CDT http://etfdigest.com/daveDaily.php?id=938 http://etfdigest.com/daveDaily.php?id=938 MARKET COMMENT October 29, 2009 THE OVERSOLD RALLY AS ADVERTISED Even Superman is no market fortune teller. But, with the McClellan Oscillator as low as we’ve outlined the past two days; the end of month at hand for portfolio “window dressing”; and “dip buyers” at the ready, it didn’t take much brilliance to expect this kind of outcome. We actually put a few small short positions on today and kept them that way given the likelihood of a day like today. So the GDP data came in better than expected and the media was shouting from the rooftops the recession is over. dave@etfdigest.com Thu, 29 Oct 2009 18:01:31 CDT http://etfdigest.com/daveDaily.php?id=937 http://etfdigest.com/daveDaily.php?id=937 MARKET COMMENT October 28, 2009 BEARS STRIKE BACK The above image is from Pritchett Cartoons (we paid for it unlike some others) one of our favorite cartoonists. The image is appropriate given today’s action. A decline like this is something many, including us, has felt likely if only in our bones but for other reasons as well. Aside from obvious issues articulated by many already (no growth in jobs, high PEs, stock rally ahead of itself and so forth) we just didn’t like the pattern of high volume (distribution) on down days and extraordinarily low volume on rallies. dave@etfdigest.com Wed, 28 Oct 2009 17:42:31 CDT http://etfdigest.com/daveDaily.php?id=936 http://etfdigest.com/daveDaily.php?id=936 MARKET COMMENT October 27, 2009 LIKE WALKING THROUGH A MINEFIELD Perhaps the old radio show slogan should have as our answer: “Mr. Market knows!” It’s been a rocky ride at high prices—one day up, the next down, and repeat. How expensive are stocks? dave@etfdigest.com Tue, 27 Oct 2009 17:36:41 CDT http://etfdigest.com/daveDaily.php?id=935 http://etfdigest.com/daveDaily.php?id=935 MARKET COMMENT October 26, 2009 NO STICK SAVE TODAY It’s a “yo-yo” market which may be just part of a topping process many bears expect. There was no “stick save” today and just about every asset class lost ground save the much oversold dollar. Once again we started higher abetted by much bullish enthusiasm for better days ahead only to see things undone by sellers and rumors. The latter was S&P would downgrade two banks that sent investors to the exits. dave@etfdigest.com Mon, 26 Oct 2009 17:40:53 CDT http://etfdigest.com/daveDaily.php?id=934 http://etfdigest.com/daveDaily.php?id=934 MARKET COMMENT October 23, 2009 HIGH VOLATILITY = GREED & FEAR Volume increased again as earnings, both good and bad were reported. Markets gapped higher and then immediately the selling started. Wednesday’s late day selling was attributed to much traveled analyst Dick Bove’s weird comments regarding WFC. Yesterday those sentiments were quickly reversed as markets skied. dave@etfdigest.com Fri, 23 Oct 2009 17:54:15 CDT http://etfdigest.com/daveDaily.php?id=933 http://etfdigest.com/daveDaily.php?id=933 MARKET COMMENT October 22, 2009 DRIVE-THRU SOUP KITCHEN 2009 So, what the hell was yesterday about anyway? It lends credence to the idea of heavy liquidations in Galleon’s hedge funds since there don’t appear any other credible ideas—but, I’m open to suggestions. The rally today was led by earnings from McDonalds, Travelers and 3M. The 2:15 PM Buy Program Express arrived on time to squeeze shorts from yesterday’s closing debacle. dave@etfdigest.com Thu, 22 Oct 2009 17:32:57 CDT