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<< Return to page 1 - Bad News = Another Rally








































































So many markets, so little time is all I can say. I’m sure there are some favorites missed but you just need to remind me.

The news? Fahgett about it! BAC needs $35 billion, Chrysler bond holders get stiffed, GM isn’t a functioning enterprise, DIS reports a 46% decline in profits and the stock rallies because, you guessed it, this beat estimates.

Every time I think the market rally has run its course there’s another Emeril Lagasse “let’s kick it up another notch” moment. So, we go with it because that’s what the system tells us to do. Every time I try to fade my system it costs me, whether I'm not being aggressive enough or just not making indicated trades. But we’re all human and after 35 years of doing this you’ll forgive me for saying that I’ve developed some attitude. Yeah, a technician with an attitude—sounds dangerous.

Now dear readers please understand that we’re not looking for any sympathy and Francie will probably be upset I posted her situation for all the world to see. Nevertheless, I wanted you to know that postings may become intermittent. This is all I’ll say on this subject.

I don’t know if there will be a post tomorrow as I’ll be moving about.

Disclaimer: Among other issues the ETF Digest maintains positions in: SPY, MDY, IWM, VTI, RSP, QQQQ, XLI, XLB, XLY, IYR, IEF, TLT, TBT, DBV, DBC, USL, XLE, DBA, MOO, DBB, XME, EFA, EEM, IEV, ILF, EWW, EWZ, EWC, EWJ and FXI.

The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at
www.etfdigest.com.

Source: Thursday Outlook: Commodities, Global Markets