JPM, BAC, and the rest of the bank sector are weak because of mortgage defaults. Surprisingly, IYR (real estate) looks healthy. HPQ looks bad because they have CEO issues. It's better to look at the ETFs. KOL (coal), EEM, IWM (Russells), XRT (retail stores), XLP (consumer staples), IYW (technology), all look healthy. OIH (oil services) is recovering despite Obama's off-shore oil ban. I knew we would rally in anticipation of gridlock in the November elections.
in the recent memory the current dollar move is similar to the one that started in March 2009. But it is actually MORE INTENSE
the street.com poll is bullish, ET poll is bullish. 1 What would best describe your stance heading into the coming week of trading? Bullish 50.94% 81 votes Bearish 40.25% 64 votes Neutral 8.8% 14 votes SPY Next Week? Bullish 16 66.67% Flat 2 8.33% Bearish 5 20.83% I prefer to keep my opinion to myself 1 4.17% Total: 24 votes 100%
If we get a downturn next week, it'll be fun counting the number of threads that will get started predicting The End.
the bulls have succeeded in pushing SPY by only +0.3% 1 hour before EOD despite hugely bullish polls. is USD showing the signs of life? Jack "Shortie" Kevorkian Out