There is a nice intraday W bottom in the small caps today signaling a possible rebound. The market is actually healthy when you look at the NYAD line. JNJ is holding back the Dow.
If IBM decides to walk the talk then tomorrow could be exceptional - even today was OK but tomorrow could be groovin.
Since you ribbed me last year...
Your new slogan should be: "Lookin' up! At the G Fund!"
Oh, wait, that's already taken.
CURRENT ALLOCATION: 100% I AS OF C.O.B. 5/22/2017
"Natural gas for delivery Wednesday soared to $135 per million British thermal units at Transco Zone 6, a pipeline delivery point in New Jersey where New York gas prices are set, according to Intercontinental Exchamge Group Inc. On Friday, prices traded between $10 and $25 per million BTUs. Tuesday's sharp climb beat a previous record of $90 per million BTUs for the hub set on Jan 6, when another Arctic blast stoked gas demand." It would appear to me that some utilities are going to pay out the nose to provide electricty to consumers and businesses. That doesn't happen when you use an inventory of good old coal as a feed stock. Coal is far from dead and the lessons will be learned. And winter is not over yet.
We are inching our way toward rarefied air and once there the fuel to power an escape velocity will be visible - wait for it because it's inevitable. Snort.
Netflix (NFLX) is flying after hous - could this be the surprise catalyst some of us hoofhearted types have been longing for that starts a parabolic lift off higher.
The action today will suffice - small caps are floating my oceanic boat. I now only have 7 more trading days to open the profits spigot - but I'm now sure I won't come any where close to my +$300K goal - so I'll settle for +$100K. Here is what 2013 February looked like on a weekly basis: +$53K, +$2K, +$72K, -$100K, -$21K for a montly gain of +$2K - certainly need to do better than that next month this time around. I'm very close to tapping the margin honey jar again so I'll be patient. I did manage to pump in excess of +$200K during my December buying spree - it's going to take more and more liquidity to make things right. Staying long and strong.
So today's weakness seems tied to China - we go through these fears at least once per year. Frankly, the bears should show more respect for the new all time index highs printed yesterday: Transports, S&P midcap 400, S&P small cap 600, R2K. And so close on Barron's 400, total stock market. China is only a bump in the sidewalk in my humble opinion.
US existing home sales total 4.87 million vs. 4.94 million estimate
US manufacturing growth slows in January
jobless claims edge up
The market has been oblivious to the lack of growth within the economy simply because the government has been borrowing more money to pump into the economy. Now that the funnel of cash is slowing, the market may be realizing it should start pricing the economical factors in instead of covering them up with borrowed money.
I know you are perma-bull, but bump (or thump rather) on the sidewalk might be your ass hitting it one day when the market falls. Love you Birch!
You know what happens when you stretch a rubber band - zingo to new all time territory. So I'll take the bumps and grinds and wait for the return of Ferdinand to really blaze the trail forward. I believe once the hedge funds wake up to economic progress 2014 may be stronger than 2013. There were two months (June and Augus) during 2013 when I was off -$173K and -$172K, respectively. But I never got discouraged and just rode the wooly beast.
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EFA (I Fund) (delayed) (Stockcharts.com Real-time) |
BND (F Fund) (delayed) (Stockcharts.com Real-time) |
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