ETF MSW Update

"HOG" is "only" down about 2%, but the miss is really bad, IMHO, Harley-Davidson net income falls 84% , the thing sure looks to me like a climatic buy day yesterday, huge volume, if it opens UNDER yesterday's low, this thing could take off south in a hurry.
Actually, with the possible gap down this morning, the whole stinking market may try and set up an "Island" reversal pattern, or EVEN worse, an abandoned baby (poor Baby!), which would fit with all the 10K bull shit from yesterday.
In spite of all the misses, the futures are actually trying to turn up, as we had a lot of good economic reports this morning, weekly claims came in much better than "expected", the Empire State index came in at the highest level in 5 years, although I thought the CPI was a little HOT, at .2%, anyway, bonds are falling (woooo hoooo), gold is up off the CPI, ALTHOUGH, the last I looked, the dollar was UP as well, the good old "ALL THE SAME MARKETS".
Anyway, I'm done for the day, you can turn your RS feed back on, sorry about that, good luck out there.

This is later than the ETF post below, I'm watching "C" in the premarket, as they report this morning. I'm intrigued with that triangle on the daily chart, I'm not sure, but I "think", it's a fourth wave triangle, much like SRZ was before it blasted off. I'm not sure if they reported yet or not, as they are down about 15 cents in the PRE, Pre-market, but that could be a reaction to the Goldman earnings, as I think Goldman MISSED, as they are down about 5 points before the pre-market open.
ACTUALLY, the way I see it, it's a BEAT, 5.25 a share, the Street was looking for some thing in the $4 range, the Fast Money players said last night, any thing over five bucks and Goldie is off to the races, Hmmmmmmm! The premarket opens in three minutes, I shall see.

Hmmmmm, I'm not sure what's going on, it sure looked like a beat to me, but Goldie's actually down about 7 points, they closed the post market last night at 194, and opened the premarket at 187. Hahahahahaha, "C" is down about 3%, and flying all over the place, as they, ONLY, lost 27 cents, rather than the 33 cents expected. I may take a play on them based on a break one way or the other, out of that triangle. I prefer to short the stinking peice of Government owned junk.

HAH! This guy sounds just like me (which is why I'm posting it of course, hahaha) Dow at 10,000? Wake me when it's 14,000 , notice the referrence to the "Best six months of the year", I'm telling Ya, Da "Street", is doing every thing they can to try and suck poor old Mom and Pop off the side lines, and the sad part is, is that it may be working, SIGH! Anyway, I'm holding to my semi-prediction I made back here,
http://cluelessqtrader.blogspot.com/2009/09/its-so-simple-it-scares-me.html , where they reverse the "SEASONS", again, and take us up through the "TRADITIONALY" poor months of September-October, and then give the "ALL CLEAR", for the "BEST SIX MONTHS OF THE YEAR", and then, CRUSH'EM!!!!!!!!!

I ran the MSW through 700+ ETF's this morning, just to kind of get an unbaised opinion of what's going on (not that I'm biased of course, HAH!), and it came up with some interesting observations, based on what I've been hearing. My man Clive, Clive Corcoran that is (always good to see what the Brit's are thinking), has been talking about the new carry trade hedge fund mania, using the Australian dollar in the form of the AUD/JPY, and using the "synthetic" proceeds to invest in the emerging markets. The MSW seems to support this some what, with new buys on Asia and Frontier markets, AIA and PMN. It seem's "they" may also be using the money to "invest" in resource's, as it likes carbon and water, SGG and PIO. On the confirmed buys, it like's a lot of the commodity items, especially oil, and is staying with the S&P 500, as it put on a "confirmed" buy on both the SPY and SSO, which is a new signal, on the previous buy.

On the weekly scan, it still like's "stuff", with new buys on TAN and XLE, which should move some what together, it came up with more emerging markets, with EFG, GMM and XPP.

What I was REALLY glad to see, goes along with what I was talking about last night, in regards to Mom and Pop and the bond market, the MSW hates bonds! Almost all the new shorts on the weekly scan are bond funds, and two of the three new shorts on the daily scan, are bond funds. I don't mind Pop getting his ass kicked in these things, because since he's been laid off for two years, he just sit's around all day yelling at the old lady to get him another beer, but I feel sorry for Mom.