Weekly Sector And Industry Money Flows

This screen surprise's me almost every week, as it sure cut's through the BS, I'm REALLY surprised to see Healthcare at the top, the XLV is in 7th place, I cover it a little more in the Industry flows below. What doesn't surprise me, is the number of commodity related sectors leading the pack, as it appear's the pump is starting to fire up. I've actually been waiting for gas prices to drop, before filling my trucks up again, as they have traditionaly done after Labor Day, good luck with THAT one!! Inventories have been down, because just luckily, some of the refiner's have shut down for repairs, hahahahahaha, yeeeaaaa, like, in repairing their balance sheets!! I'll tell you what, if gas get's back over $3 bucks a gallon, the consumer could put a nasty crimp in all these bullish projections for the next year.

Anyway, for some strange reason, I'm hearing rumbling's of a nasty 1987 type sell off coming, now, where they are coming up with that idea, I have NO idea!! Just a few of these idea's are coming from the same bunch, like Robert McHugh and the EWI people, but DTI actually had a special webinar about the comparisons, and I just noticed Peter Worden seemed extremely concerned about breath of the market, as the sell off yesterday, although mild price wise, was decidedly negative breath wise.
The chart up there is the S&P 500 in 1987, leading into the October bust. It's pretty obvious, looking at it NOW, that the market was saying some thing, as it had made a lower high off of a double bottom, coming out of August, our current price action is not EVEN close to that, YET! Also apparrent, was the severe divergence in TSV and MS, the current MS is actually SUPPORTIVE of the price action, ALTHOUGH, TSV is in a slight divergence, BUT, it's been doing some divergences all the way up, during the rally out of the March low's, so why should it be any different now???
BESIDE's, we are now in a NEW economic age, as it's entirely DIFFERENT now, when it comes to earnings, as shown in the chart below:

Yea yea yea, it's that same old stupid chart again, of the TTM P/E on the S&P, or, as referred to in some circles, as the ACTUAL earnings, as reported, rather than those MAAAAAAVELOUS projection's, of future earnings, that analyst are so fond of touting for their sale's pitch's. As you can see, going into the crash in 1987, the market was usually considered over valued, when the P/E started getting up into the rare air level, of like, the 22 area, which happened only two times from 1935 leading into 1987, so when it hit those lofty levels in 87', it was only natural that inwestor's rebel, and bring it down to more enticing levels.

Luckily, after 87', thanks to Mr. Greenman, we entered a NEW Economic paradigm, whereby the market only advance's, when the P/E goes up! The Bear's consistently drove the market, and the P/E, higher into the NasDog bubble burst in 2000, when those nasty Bull's finally stepped in, and decided to take it to Da Bears, and show them who's boss, by taking the market down from those incredible P/E levels of 40+, to what they considered to be a CHEAP valuation, of just under 20. Remember, this is a NEW era, so it's all bull shit about the Bear's taking the market DOWN, as it's the Bull's who love low P/E ratio's and stock price's, the BEAR's LOOOOOOOVE, high P/E's, and expensive stock prices, so it's the BEAR's that drive the market higher!

Anyway, the Bear's are in seventh heaven right now, for as reported by S&P, http://www2.standardandpoors.com/spf/xls/index/SP500EPSEST.XLS , the ACTUAL earnings, eeeeeerrrrr, P/E (I can't say EARNINGS, as there are NONE) after all the reports were tallied in September, was 133.57. The REALLY good part, and supporting HIGHER stock prices, is that it's been getting worse, eeeeeeerrrrrrr, I mean, BETTER, as the year progress's, for over the course of the last year, the AS REPORTED P/E went from a totally unacceptable 25.38, to 60.70, to 116.31, to 122.41, finally taking us to our current high in the Market, at that 133.57.

Now, as long as these companies don't do some thing totally stupid over the next few weeks, like, start reporting REAL earnings growth, I can easily see the final P/E for the quarter getting to the +200 area, which would mean the DOW should finally reach that famous guy's price target, of 35,000, before year end, WOOOOOOOOOOO HOOOOOOOOO!! I CAN'T WAIT!!!!

I totally lost it, hahahaha, where was I, oh yea, the money flows, the Industry flow's are above, and it TOTALLY fit's right in with this market, HAHAHAHAHAHAHAHAH, as Waste Management led the pack last week, confirming, THIS MARKET IS A BUNCH OF SHIT, HAHAHAHAHAHAHAHAHAHAHA!!!

In a complete reversal of all the bull shit being spread by the yakking yelling screaming talking heads, about the EARNINGS report's, the worst money flow's came in the same Industries that supposedly blew earnings away this week, semiconductors and Investment Brokerage Houses, hahahahaha, I'm telling Ya, it just get's better and better, don't it???

The part that confuse's me, is that Health Care Plans were right down toward the bottom, in complete contrast to the Healthcare sectors leading the pack, at the top. I guess you would have to completely go through the IYH and XLV, to see which of the actual components were leading the money surge, to see which Industry part of Health Care is seeing the money. I'd do it, but frankly, I don't give a damn.

I consider this terriffic stuff, http://www.zerohedge.com/article/max-keiser-jpmorgan-goldman-sachs-et-als-fraud , it's to bad they put that pollyana kid up against Max Keiser.

Sour Grapes Watch List

6:00pm: WALK IT OFF!! I'm walking, ooo ooo eee, I'm walking, ooo ooo eee, and hoping, the market comes back to meeee!! That is how that song goes, isn't it???

Any way, my question is, do you full fill your expectations, or does the market dictate your performance??? After that wowser week I had last week, my expectations were pretty low for this week, AND I FULL FILLED THEM!!! BUT, being the chicken shit I yam, I blame the stinking market, hahahaha! After all, we have the gap up NR7 day on monday, then the gap down hanging man day on tuesday, with that evening star, abandoned baby, Island reversal, which ever setup you want to call it, on tuesday, IE, SELL CITY, then they gap us like crazy on wednesday, and close us today, almost EXACTLY, at the open from wednesday, IT'S NOT MY STINKING FAULT, I TELL YA!!

Luckily, like the Lady said, next week, is another week!!! I just hope the market doesn't tell me that frankly, it don't give a damn!

HAH! Probably the easiest trade of the day, was to take the DOW out of the open, there wasn't any stinking way they weren't going to try and close it over 10K in front of the weekend, so their mouth peices could yell and scream all weekend, that you HAVE to buy this thing. There must have been some "sour grape" pissed off hedge fund, that decided to deny them the last 20 minutes, hahahahaha! 3 cents indeed!

I was watching two of the single most discretionary stocks in the universe yesterday, HOG and PII, as not only did they have quarter over quarter declines in their revenue and EPS, they had YEAR OVER YEAR declines, of like -25%, so the result was that PII gap's up to new 52 week highs, HOG gaps down, and then immediately blasts off, to make a new 52 week high within 45 minutes, and being the none emotional type I Yam, I left about two hours into the day, and never came back (I may NEVER come back!).
Well, I did come back, this morning anyway, as I have a spread setup in BAC, long January calls with two hedges, IE, I'm trying to see if I can either get a "free" call into January, if it misses and goes down enough, or, if it beats and blast's off, I may pick up enough to cover the hedge's, leaving me with a free trade into January, wad ever, it missed, big time, and combined with the misses in GE and IBM, the futures are down about 1/2% in the premarket, meaning to me, we make new 52 week highs by the close, which I won't see, as I'll be outta here again!

There's a blank space above, as I wrote a long ass sour grapes post on how ridiculous this shit is, BUT SCREW IT, I've decided to go with the flow. My watch list for today is below, these are the 60 stocks in the S&P 500 that are making 52 week highs, that have NEGATIVE earnings growth for the last quarter, and last year, most of them have not reported their latest losses for this quarter, so I HIGHLY suggest you buy them all, NOW, before it's to late!!!!!!!! I ran a screen of stocks trading NEAR their 52 week high, with the same negative earnings, but it's to long, with 200 of them, and beside's, I wouldn't touch number 200, as that stock has ZERO growth over the last year, probably a candidate for a short sale, as you can only make new highs if you have negative earnings.


ANF
APA
AVY
BEN
BJS
CBS
COH
DTE
EMC
EP
EQT
EXPE
FDX
FRX
HAR
HOG
IP
JCP
JNS
KSS
L
LM
LO
LTD
M
MA
MAT
MCK
MEE
MMM
MRO
MSFT
MWV
NBR
NWSA
ODP
PBG
PEP
PPG
PXD
RDC
RSG
SYY
TIF
WAG
WFMI
WYE
XL

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.

Watch List for Thursday 10/14/09

The only half ass decent scan I could find even anything, REMOTELY, interesting, was the three day pull back scan. It seems everyone loves Dr. Pepper, at the top, personally, I am YUCKO on it, I drink caffine free diet coke, drowned in my favorite "stuff". It's definitely riding that 20dma higher, you may be early, or take a chance, and see how it reacts when it hits it again. GXP was interesting, because it found support at the 50dma two weeks ago, hit it again today, and rebounded, almost putting on a bullish reversal bar. I have no idea why I have DLM up there, other than I've eaten their fruit since I was a young'n. They've actually pulled back four days, but they are coming up fast on that 45 degree upsloping 50dma (OK, so it's only 43 degree's, sue me), and the gap area around 11, the reason I like it, is the R/R, I would NOT, want it, under that 50dma.
In running this scan, I was not only surprised to find out AZO had pulled back five days in a row, but it's actually been going down since April. LOVE IS FICKLE, AIN'T IT!!! I wondered why I hadn't been hearing any of the yelling screaming shouting crying sell side analyst on Da Street, pumping this thing lately.

I had a couple of surprises, after running the scans, number one, there were 73 bullish reversal bars today, in the Russell 1000, this, after virtually none have been showing up the last few days, I figured there would be none again today. In contrast, there were ZERO bearish reversal bars, which doesn't surprise me to much. Unfortunately, most of the bullish reversal bars look like AXS above, just absolute junk, just a whip around bar at the highs, like on that one, they took out stops from the last five days, and then closed it higher, the ROACH's! Anyway, if I had to choose even one half way decent one, it "might" be TE.

There was 138 NR7's today, the narrowest range day of the last 7 days, JPM is the poster child for them. It always gives me that warm and cozy feeling when Da Boyz gap the shit out of us in the premarket, then we can't do any thing with it after the open. Other big dogs that show this same pattern are GOOG, CSCO, HANS, WFMI, SNPS, NTAP, MCD, ADM, LVS, CRM, ERTS, MEE, NEM, AFL, and almost all the big name oil stocks, udder dan CVX and XOM.

I pulled my DOW 10K hat out today, from 1999, wooooo hooooo, I'll put it back, and keep it for the next celebration, IN 10 FRICKING YEARS!!!!!!!!!! It just udder-ly amazes me, at the absurdity, of the networks counting this stupid fricking thing down, I mean, FOX was just going off their stinking ROCKER!! Can you imagine, the, "CELEBRATION", going on it Mom and Pop's house hold, when they stop and think, that their stinking stocks have not done a DAMN thing, in TEN YEARS??!!!!!! Hang on to those money market funds, hahahahahahaha, they beat the shit out of STOCKS!!

Speaking of Mom and Pop, I saw an extremely interesting stat today, since the bottom in March (you know that one, Larry Crudlow brought it, and has been calling YOU an idiot, for not buying it), Mom and Pop have been piling into bond funds at an ALARMING rate, putting like 254 BILLION dollars into bond funds, and only like 14 BILLION, into stock funds, I'm talking about mutual funds of course. I have been out of my Vanguard bond fund since June, waiting for a damn chance to get back in, well, the TLT broke the 50dma today, and with all the hype over DOW 10K, we MIGHT, get the fund investor's leaving Dodge as fast as they can. That would be really COOL, as I could finally pile back into my favorites, BONDS, Woooooo Hooooooo! Just a PS here, I'm talking about the VWEHX.

NA NA NA NA NA NA NA NA NA

I might, POSSIBLY, get another shot at Mr. "T". That circle is where I'm looking for it. I would prefer it takes that support line out, and then set's up some kind of candle setup the next few days.

NOT, exactly, a vote of confidence for Inkey, closing on it's stinking lows of the day!

Where's the BEEF!!!!!! We couldn't even get close to the 50 day volume average.

HAHAHAHAHAHAHAHAHAHAHA!! THIS TIME IS DIFFERENT, NO DOUBT!!!!!!!!

9:30am: I'm outta here!!! I'm watching AMAT this morning, because I got so many stupid positions in it, and of course, it just starts going straight down out of the open, Inkey did pretty much the same thing. So, I got short calls, and I'm watching it, and it's meeping and weeping, like AMAT has a tendency to do, I consider it a tough stock to trade, very over lappey, that's why I'm in it, I figure if I can trade it, I can probably "do" any of them. ANYWAY, the stinking thing has, at a MINIMUM, gap fill written all over it, at 13.45, so it hit's a low of 13.51, and sit's there screwing with it, for almost an hour. Finally, the bear's get control, and break the .51, at the white line, take it down to .47, within two cents of da fill, the next bar opens up, and they take it straight up, hahahahahahaha, what a bunch of stinking ROACH's!! I mean, the thing should have easily gone down to that .33 S1 level. I mean, the idea is acceptable, that is, the market maker's take out the LOD, and try and suck in some more short's, and then take it up on the next bar, but come on, usually they at least try and make it look decent, like set some kind of bar up first, like an inside bar or some thing, that was pretty ridiculous. Anyway, that's enough for me, have fun out there.

7:00AM: I'm doing my Zen Budda chant, hahahahahaha, as since I don't have any thing to do until after the open, I read John Hussman's article for this week, http://www.hussmanfunds.com/wmc/wmc091011.htm . I've read John for years, and I have to admit, it's the funniest thing I've ever read, but unfortunately, I don't think he intended it that way. I just find it hilarious that he's resorted to ZEN to try and figure out why this market keeps going up, hahahahahahaha! Hey, it sounds good to me, NA NA NA NA NA NA NA!!

Since most of my positions are options, I can't do any thing until after the open, but I intend to be selling like crazy, NOT SHORTING, just, selling, as in selling call's against my existing positions. I find it very interesting that Inkey, some times known as INTC, is sitting in the premarket, exactly where it was sitting when the post market closed last night. Wad Ever!

I was looking at the 25 biggest gappers for this morning in my TS, and the highest pricest stock had a TWO handle on it, IE, $2 and some thing, meaning "inwestors" are giving up, and chasing the absolute junk, trying to find some possible returns.

Mr. "T" and the intraday Women

There will be no watch list for tomorrow, for there is no joy in Mudville, as the mighty INTC has blown away earnings, as such, a watch list would be completely worthless (eeeerrrrr, more than usual!)!

Mr. "T" is one of my "in Play" stocks, so I kind of watch it all the time. It has been dumping with the entire sector, and has been approaching an "area" of support, which beside's approaching that short term trend line, $25 has kind of acted as the lower level range. With the dump in the market at the open, it took out yesterday's low, and looked to be in a continuation pattern to the down side, and to be honest, I was "hoping" it would dump down to around 25.

45 minutes into the day, the "market" started to turn around, and Mr. T went with it, and I started sitting up in my chair, when it approached yesterday's close at 25.58, a move above this would set up the magic bullish reversal bar on the daily chart. It actually kind of wallowed there for a few minutes, as da bull's and bear's battled it out, but the magic bulls won, and I went for it.

As a disclaimer, I am already gone from this thing, as I never intended this to be any thing more than a scalp, and the intraday time frame is very extended, but it has been my experience with this thing in the past, that when it set's up a day like this, it "can" continue to show strength for a few days. If it can pull back to that pivot at 25.65, I may revisit it again.

The whole sector is moving, VZ look's much better, as it's not as extended, even "S" is trying to be a man, as it's working on a triple bottom, and if the day continue's like this, it may set up a bullish reversal bar on the daily.

Of couse, the love could all end over night, so I wouldn't hold on to any thing that you wouldn't consider an investment, at the very least I'd consider a stop under the low of the day on all these things.

Later PS: I forgot to mention about why I have the Trader Floor pivots up there, that's another thing about Mr. "T", he has a "tendency" to react very well to the pivots, as you can see, he stopped right on S1, and so far, R2 has been a rock solid top.

Watch List for Tuesday 10/12/09

Sigh! I'm really not into this, BUT, my mentor Toni Hansen, http://www.tonihansen.com/blog/ , is back from Europe, and pretty much lay's out how I feel about the market right now, go on over and take a gander.
Anyway, like I "think" I said over the weekend, after what is NOW, for all intents, SEVEN days UP in a row, I ain't really to wild, about taking long's, ESPECIALLY, with earnings starting in, aaaaaaahhhhhh, EARNEST, tomrrow night, when Inky reports. The bullish reversal scan is supporting my idea, as, out of three thousand stocks, it only came up with three, and I ain't, eeeeeerrrr, EXCUSE ME, I am not, to interested in them. I showed LEAP, it full fill's the parameters, BUT, I drew a line on the TSV and MS (which you probably can't see), and neither one of them are to supportive of a move higher in it, PMTI looks EXACTLY the same, and RST, well, after that huge gap down in August, I think the BS has been exposed, as to what that stock is truly worth.

In contrast, it put up 64 bearish reversal patterns, most of which look fairly decent, I put the list above, so you can check them out for your self. The index's actually tried to put in a bearish reversal day today, the main NasDog's actually did finish negative, but I prefer to see a lower open, and THEN take out the high, as you know, they all gapped higher, so the first parameter was not present.

Regardless, I'm really not that interested in shorting right now, for the same reasons as mentioned above, I have no idea what's going to happen with earnings, you could short a terriffic pattern, and wake up in the morning, and find out Da Boyz are blasting us higher, off of some MISS, by one of the big boys, as they chase the shit out of the shorts. Short at your own risk.

Speaking of shorts, Sysin brought up a scan in the comments section, from yesterday, that I need to work on, and code into my Telecharts (I'm glad to see he's doing this, good yob buddy!). I'm showing DIS, but they all look like this, it's the Gravestone doji, after all, we all need a better mouse trap, woooooo hoooooo!!!! This thing would have shown up on my bearish reversal scan, but it opened HIGHER, therefore negating the first parameter, otherwise, it's a terriffic looking pattern to short, I just love it when they make new rally highs for the period, and then fail to hold those highs, definitely looking weak, that also fall's into the category of a BOF, a break out failure bar, a Pristine staple. In case you are to lazy to push the comments button, the other ones he mentioned were ALXN, DNR, SYK, TXT, and WLT.

A completely irrelevant (Unrrelevant, Nonrrelevant, Disrrelevant???) later PS: I spent almost the whole afternoon out at the ranch, we have a couple of storms moving in, and my days are numbered as to how long I'll be able to get out there. I park on a hill (in case my battery fails, it's a loooooong walk to town, I've taken it a few to many times), and walk into where I'm going. Anyway, I pop through the brush, and right into the two bulls. They always hang out together, chasing the girls around, and in case you guys are wondering, we have two bulls for about one hundred of the girls, just about the right ratio, RIGHT GUYS, LOL! ANYWAY, they make me a little, aaaaaaahhhhhh, uncomfortable, especially when the big one stare's at me. What I do in that situation, is IGNORE them, IE, I usually set up, and turn my back on them. Now, we dehorn these things when they are calf's, so, that's no problemo, but my old man got crippled up by a cow, when he got stuck in between an enraged cow, and her calf, by the stupid dog, the dog had been worrying the cow and calf, and then ran behind the old man, to hide, the ROACH!! So, I've found it better, to just act nonchalant, and not get into a staring contest with him, or them, in this case (it might as well be HIM, because the younger one only does what the big one does). Now, I can hear them, in case they start to mooooooooove (that's what Big Bertha told me to do, when she grabbed me at the Senior Prom, and wanted to dance, she said Mooooooooooove), as they aren't exactly subtle when they go. So I'm doing my thing, and inching toward this decent fence, about 20 yards away, trying to figure out how close I need to be, in case I start hearing, THE NOISE, and if I can even make it over the fence to begin with. But, all goes well, until I have to move, which is on the udder side of dem, so I have to make a choice, to either try and casually walk by them, a little closer than where I am, OR, just stumble through the brush, and take the long way around them.

You know, probably 20 years ago, I would have walked over, and punched the SOB in the fricking slobbering nose, and yelled at him to get the F--K out of my way, but, SIGH, I took the chicken shit way out, and stumbled through the brush, hahahahahahahahaha!

I guess, the point of this, is that I ain't gonna stare this stupid bull shit market in the face, and try to kick it's fricking ass by shorting it, I'm probably going to keep doing what I'm doing, and just kind of stumble through the brush, trying to pick up a little here, and a little there, and hope I don't get crippled up, in the process.

Watch List for Monday 10/11/09

The bullish reversal scan of the Russell 3000, produced two, count'em, TWO, possible candidates, and MMSI ain't worth showing. Now, I consider the pattern on CIEN, "interesting", it fullfilled the requirements for the bullish reversal, and it's sitting on prior support, BUT, it actually closed LOWER, than the open, not good, but this is the best I could come up with. On a personal basis, I HATE THIS OUTFIT, it's one of the infamous REVERSE SPLIT stocks from last year, IE, it's actually trading at $1.28, and I wouldn't touch this thing with a 1000' pole held by YOU!

In a complete reversal (notice how I cleverly worked the word "reversal", into this screen, hahahahaha, SIGH!), the bearish reversal screen came up with 66 candidates, I'm just using DELL as an example, and knowing what I think of THIS outfit, a fitting one. It has the parameters, IE, it opened lower on the day, rallied to take out the previous days high, and then closed lower than the previous days close. It had an initial drop, stopping on the 50dma, and has put on a bear flag, stopping just under the 20dma. The baaaaaaad things (damn SHEEP!), are that it closed higher than the open, plus, it's obviously in an uptrend. My personal opinion, is that with earnings getting into full swing this week, and the unbelievable BS going on, shorting may be hazardous to your health, but, wad ever, they could be worth a shot, you just NEVER know. Others that look decent, include ERTS, MHP, LIZ, LULU, MAC, LAMR, CTCM, HUN, SWSI, ODP, etc etc etc.

Another way to possibly play this thing, is to take the market at it's word, and take strong looking stocks, in "hopes", of a beat. JRN is typical of these, a break over $4.50, and this thing will probably see $4.51 pretty damn quick!!! Other's that "look" like this, include NYT, UNT, FTI, FRX, TWTC, BJS, XL, MF, OI, RRC, AXP, etc etc etc.

Sunday Musings

You know, I was going to spend the entire day, doing a fricking rant and rave, about the idiocy of this market, but SCREW IT, it ain't worth it, even though I spent a couple of hours this morning assembling a list of post's that Wackosphere'ers have made, to prove my point! Wad ever, go for the fricking thing, GO ALL IN, EVERY THING IS VUNDERBULL, http://deechurch.homestead.com/beautiful.html !

WELL, THAT WAS INTERESTING, at least I got a little of it out. ANYWAY, if your'e a bear, I might reach down and grab ahold of the crown jewels, this thing COULD go UP! The stupid upper bollinger is flaring up, in the upper green circle, the unreal senario I see for this, is Da Boyz gap us up at the open tomorrow, and then take us flying higher, riding that bollinger into NEVER NEVER LAND (or LA LA LAND, which ever way you want to look at it). The volume is still not supporting this, for even with all the gap-I-tist we had last week, we still could not even hit the 50 day average, much less than the big volume we've had on down days, like I, SIGH!!, pointed out before. Wad ever, it don't stinking matter.
Sysin left a link in the comments section of yesterday's post, that you might want to take a look at it, I don't know what it is, I refuse to read the guy (a personality conflict), but Sys is usually spot on.

Now, ME, I kind of prefer to read thoughtful and honest people, and I find this guy to be one of the better read's in the Wackosphere, http://www.mybudget360.com/ , and I couldn't agree more with what he says about the state of Joe Six pack and his family.
I also like this guy, http://www.fundmymutualfund.com/ , the first post is funny, but I'm referring to the friday post about Barton Briggs, HAHAHAHAHAHAHAHA, TALK ABOUT THE FRICKING WACKOSPHERE!!!! I think Barton always did have a little trouble with math, and I was glad to see that the blogger brought that up, I honestly believe that Barton is trying to say we will have another 400 points in the current rally, or, IE, we will be attacking the all time highs from 07'. When you do his own math, the blogger is correct, that is, about the 72% "TARGET", actually being about 1145, or about 7% higher than we are now, still, a very nice gain.

ANYWAY, the thing that get's me flying off the handle, is the "Climbing the Wall of Worry" BS, which seem's to be in high favor these days, with the back up stat's usually pointing to the AAII surveys, or some udder worthless crap, as the writer usually completely ignore's the fact, that by saying what they are saying, they are BULLISH, or let me try and put it another way, if some one post's an article, which is bearish, and then 10 people come out and write articles about that bearish person, saying, see, SEEEEEEE, this guy is bearish, so, WE ARE CLIMBING THE WALL OF WORRY, even though those 10 people are actually BULLISH, meaning the stat's are actually saying that people are 10 to 1 on the bullish side! SIGH, I'm losing it, let me put it another way, I PREFER, to see what people are ACTUALLY doing, as compared to what they are SAYING, they are doing, and this guy tell's you exactly what they are actually DOING, http://cotstimer.blogspot.com/ , read the stat's on the S&P Cot's, they don't exactly say we are climbing a wall of fricking worry. Wad ever.

Hmmmmmmmm, was there a POSITIVE, reaction, to AA's earnings??? It sure didn't feel like it to me, http://bit.ly/1le76A .

ANNNYYYWAAAYYY (I SWEAR, that's the last time I'll say that), yea, the chart at the top, I circled the lead in to the last earnings cycle, in July, mainly, to point out that I don't exactly think, that we have the same setup leading into earnings, that we had then, I get the feeling, that we have some rather, aaaaaaahhhhhhhh, HIGH, expectations, leading into the coming week's big docket of earnings.
I'm cutting it short, I was going to go into some tirade about the dog shit earnings that are going to be posted, and how it ain't gonna matter, as the power's that be, will just blast us off anyway, but I'd rather just post a chart, of what I consider, the POSTER CHILD, for the bull shit going on in the market:

Aaaaaaaahhhhhh, good ole JP, hahahahahaha!! NOW, I'm NOT EVEN, going to mention the tttttrrrriiillllliion dollar's PLUS, of Buffet's weapons of mass financial destruction, that they still have sitting on their books, eeeeeeeeeerrrrrrrr, EXCUSE ME, they DON'T have them sitting on their books, because our Vunderbull policticians let them take them OFF the books, ok, then I won't mention Bear Stearns, that we the tax payer's, gave to them for two bucks a share, or how we gave them WaMu, that might sound like I have a personal ax to grind between US, and THEM (nor should I bring up BAC, and the 20 year's of lawsuits they are going to face, over us giving them that mafia run CountryWide, and Mother Merrill), no, instead, let's just look at their Key Statistics, http://bit.ly/yFUTR .
Now, I'm going to get my aaasssssss kicked here, because I ain't a funnymental type of analyst, but EVEN I can look at some thing like this, and say some thing to myself, like, geeeeeeeeeee, JP's trading at, basically, it's ALL TIME high (close ENOUGH), and yet, some how, it don't quite look like the funnymental's support that thesis. I digress, but I actually got into this, because I was looking in my Telecharts, at the P/E's in the .BKX, and it had good ole JP at 135, that's a TTM of course, and I thought, geeeee minnie christmas sake, that can't be right, but the key stat's support that number. Of course, they blasted off after the last earnings release, because their P/E dropped to a miniscule 41, hahahahahahaha, even though in their prior life, when they might be considered half ass reasonably valued, they averaged 22.82 over the previous five years. I just love that PEG of 11.24, although I read another one that said it was "ONLY" 2.24, wad ever, how bout the dividend yield of ZERO.40%, woooo hoooo, I'll get RICH I tellya!!!
Of course, "invwestors" will be yelling and screaming that you can only base your decisions on "PROJECTED" earnings, HAHAHAHAHAHAHAHA, YEA, like the analyst's that were "PROJECTING" S&P earnings of $84-105, for the last year!!!!! The "PROJECTED" P/E, is 15.13, but when I do some dumb ass thing like look at the ACTUAL EPS growth over the last five years, it has gone DOWN 24%.
Hey, look, I'm done, you brainiac funnymental type's will come up with all kinds of metric's you can point to, saying it's CHEAP, FINE, go for it, but considering that beside's trading at just about it's all time high, and, the metric's on that page trail in just about every category when compared to the Industry averages, I say, IT'S BULL SHIT!!!! JUST LIKE THIS RALLY IS!!!


PS: I am, NOT, bearish, so don't go pegging me on your climbing the wall of worry bull shit stats!