Tuesday Outlook: Commodities, Emerging Markets

<< Return to page 1 - Closing Time

I posted the above image for subscribers on Sunday to remind investors that even if you miss a few hands, having more chips than you started with is a huge advantage. So it is with investment portfolios. If you’ve lost a lot of money you’ll have to do very well over a long period of time just to get even. Knowing when to play and when to pass is a skill combined with some luck. We’re just fortunate to be on the sidelines having a larger stack of chips now than when the year began.

Am I bored? Well a little. We’re all anxious for markets to finalize whatever it is Mr. Market wants to do. But, staying cool, patient and disciplined is an imperative now.

I have to run off to the airport and meet our son.

Have a pleasant evening.

Disclaimer: The ETF Digest has no positions in any featured securities.

Comments

[NOWHEREMAN:]

Thanks for the charts, nice to have a synopsis available so I can make own decisions.

The Dollar will be dead meat shortly (less than a year), whether it makes it to 92 or not is moot. The downside has yet to be fulfilled. the current upside is Bubble like and will enter overbought territory quickly if the move persists.

Meanwhile Gold is definitely overbought and has turned to the downside, I see no support until the low $600 area.

Too bad you can't stretch FXI back a few years, say 2004. But the EFA is starting to look like an interesting place to park my money, very, very oversold and the savings rate amongst the people is over 20% even with the crush they have suffered in the markets.

CRB has major support around 225 -230, will be interesting if it drops down to 200.

Have you ever looked at the BKX? Use the all data chart.

I never liked candlestick charting but love to use MACD. Candlesticks were a popular fad when the Japanese were taking over the US in the late 70's. They sure as hell didn't help the Japanese predict a 26 year downturn.

All comments are the Beholders and are opinions only.

2008 Nov 18 01:06 AM

[Kingsley An...:]

Dave, once again, fantastic work.

Paultat, I have to agree with you about the dollar. To me, it looks like it has come to far, to fast. The rise from the bottom looks hyperbolic. I think it will have to consolidate before it breaks through the 90-95 area.

2008 Nov 18 07:13 AM

[gjvoor1:]

Are the volume numbers on the NYSE correct? The up volume almost 90% and down volume 10% - Not sure these are right - if so would bode well for a short term bounce - unless the big three are allowed to drown.

2008 Nov 18 08:19 AM

[SA Guest:]

The very best CNBC clip ever - with a guest commentator (Scott Nations of Fortress Trading) speaking out loud for their (hundreds) of viewers the acronym "PPT". The talking heads went into panic mode as did the other guest commentator Mickey Levy of Bank of America. Even the great Santelli cleverly denied its existence while the always pleasant Becky Quick distanced CNBC from Scott Nation's assertions. I somehow think he will be black listed.

www.cnbc.com/id/158402...

2008 Nov 18 11:51 AM