Tze
Bernanke admitted inflation, gold and silver skyrocketed and long-term bonds declined.
Tze
Hey fellow FE traders, before the market opens in the morning, please note the following key macro trend changes and key leveraged ETF score shifts. This model really provides us a lot of information about the dynamics of the market. Talk to you guys on the blog tomorrow.
1. Notice that AGQ (Silver) is now officially kicked into tier 4, which is the bearish territory. This sentiment shift makes me to believe that the correction of silver is not over. Even though gold (UGL) is not as bearish, it is certainly not worth buying.
2. Oil (UCO) remains bullish along with energy shares (ERX, DIG). Large cap stocks (DDM, SSO) continue to be bullish although SSO is now in the tier 2 category while DDM continues to enjoy the tier 1 ranking.
3. Small Cap (TNA) along with emerging market (EDC) remain bullish while financials (FAS) continue to lag
4. Short treasuries made a surprising sentiment move today with TBT taking the tier 1 ranking while the US dollar has no sign of a bounce as shown by the bearish sentiment in EUO and YCS.
Tze
So the consensus is that people are interested in both the ETF model based discussions as well as stock data/model based discussions. I will find the optimal way to present both information on a daily basis and make it easier for people to download the stock data file in the next few days.
So here is the latest rankings for the key Leveraged ETFs. One FE follower suggested that I indicate which leveraged ETF is considered as partnership because if you buy/sell these partnership based ETFs, you will receive K-1 forms at year end, which can be a big tax hassle for some people. Remember all pure commodity/currency and volatility based Proshares ETFs are partnerships.
Looks like free sailing to the up-side. I think we will see SPX 1425 soon. CMI had a good day yesterday (up 7.52%). It gapped through it’s resistance level.
SLV is still carrying a +100 on the SmartScan (MarketClub) it was down 3.95% yesterday. I will be watching that baby. Silver is down in over night spot pricing .24% at this time. SLV is carrying a +.26 bid at this time.
How often do you use SmartScan?
Industrials are strong overall.
Tze – Thank you for providing an updated ETF list as well as including the K1 info. For me at least, it makes a difference as to whether I want to deal with the hassle of waiting for the K1 as the april 15th deadline approaches.
Looking forward to today’s banter !
No problem Wes.
any thoughts on ERY? BP and COP didn’t report great…XOM tomorrow..might be the time to short oil services after they report
Energy stocks are overall bullish. Given the high ranking of ERX, ERY is not a good bet at this point.
its up on a bounce..would need to see xom earnings and what ben has to say about his intention with the $$$$
aapl is trading like crap…possible sign tech is weakening?
Chart from AAPL yesterday on the blog is not looking so good.
Guys I hope somebody got a piece of the action on the short side for WNR and NFLX. I recommended to short both these stocks yesterday…
WNR —> Down 6% today
NFLX –> Down 9% yesterday (5% after I wrote my line)
Now be careful with WNR since it reports earnings next week and it might surprise to the upside….
Indeed JROD. Nice job!
Why don’t you give me a list of the stocks you follow. Once I have my stock model up, I can talk about them in the blog as well and give you credit for your recommendations.
Market will float pretty much flat till Ole Ben opens his mouth. After he tells what everyone wants to hear and paints a rosey picture for everyone (pure bullcrap) then they will take it hook line and sinker and the market will continue it’s upward treck. JMHO
Looks that way. SP500 just breached 1350 briefly. Next level would be 1354.
What a rally in silver! AGQ just made another all-time today. Stocks will continue higher there economy falls into stagflation.
so silver is bullish again…lol…or was this just a bounce on Ben mentioning the reinvestment of MBS once qe2 ends
Definitely a sharp bounce. AGQ’s score is going to improve. Updating the model now.
Ok trying again to see if my post makes it on this site. It has only allowed me to make one post a day.
Testing again to see if I can post more than one time a day.
Ok now is the real test, and that is if I can post again
weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
Very good. I am glad you can post properly now.