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We’ve seen more earnings leaks than usual and it goes without saying some have the number in advance of us commoners. So we get these “stick saves” toward the end of trading.

Other than Google, things are a little soft in after hours trading tonight. AMD reported and the stock got sold as did IBM.

click to enlarge


There’s quite a mania going on in Emerging Markets and some commodity sectors. This is driving prices to extreme levels (parabolic) making mincemeat of rational judgment. It’s mostly driven by peer performance pressure, excess liquidity, and low yields; but, still only modest volume. Most investors are still feeling the bitter pain of losses and seem reluctant to take Wall Street’s bait.

I’m a skeptic but willing to go with the flow since that’s my primary mission even if kicking and screaming.

It wouldn’t surprise to see more options related activity tomorrow as those on the options floor will be hunting down strike prices.

We’ll make a few pithy comments on twitter tomorrow maybe.

Disclaimer: Among other issues the ETF Digest maintains positions in: SPY,UPRO, RSP, TYH, IWM, MDY, XLB, UYM, XLF, FAS, XLY, UDN, GLD, DBC, XLE, EFA, EFO, EEM, EDC, and XPP.

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: Friday Outlook: Commodities, Global Markets