Friday Outlook: Commodities, Global Markets

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I don’t have much of a comment today and need to cut this short anyway since we’re launching our redesigned website this weekend. There’s lots of little odds and ends to take care of in a project like this.

What the markets need right now is more fuel from good news. Where will it come from? The Jobless Claims data was the kind of thing bulls spun in the past to get things going their way but not today.

Let’s see what happens and you can follow our pithy comments on twitter.

Disclaimer: Among other issues the ETF Digest maintains positions in: VTI, UXI, UYM, TYH, UPRO, TBT, ULE, GLD, DBC, EFA, EEM, EET, 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.

Comments

[Maxe Paul:]

There is a lot of action going on with the MACD's Will they cross seems to be the question.

Nov 13 06:15 AM

[enigmaman:]

The good news is W Buffet says "the worst is over, the bottom in stocks has been made, dont pass on something thats attractive today" WS pundits say traders should lock in profits but long term investors should stay fully invested to keep the market stabilized, Fidelity is blasting account owners with new weekly offerings which were non existent a few months ago. This is all to familiar to many investors who recall the same being said and done as the markets began to collapse in the late 90s. To make matters worse this admin has no idea what is required to create jobs, they no longer talk about these, or foreclosures, or the CRE problems, they bury the big problems but then push harder on burdensome legislation that will further compromise our economic recovery. As usual the only ones that really believe the worst is over are those who win no matter the outcome.

Nov 13 07:39 AM

[mc2406:]

I agree-- Jobs?- Geitner is talking out both sides of his mouth because the administration doesn't know what to do about jobs. He just asked for another $1.2 Trillion debt increase approval from Congress, while saying that fiscal responsibility is their goal (once jobs are found, of course.) "Coincidently" the 1.2 Trillion additional debt being asked for now would take the administration through the 2010 election cycle.


On Nov 13 07:39 AM enigmaman wrote:

> To make matters worse this admin has no idea what
> is required to create jobs, they no longer talk about these, or foreclosures,
> or the CRE problems, they bury the big problems but then push harder
> on burdensome legislation that will further compromise our economic
> recovery. As usual the only ones that really believe the worst is
> over are those who win no matter the outcome.

Nov 13 09:09 AM

[absolute re...:]

I think Geitner has more than 2 sides to his mouth.

David, Good insight as always. Is this the 8-25-9 MACD........probably says but in a big hurry this morning.

David Brown on Seeking Alpha gave 4 stock ideas this week. NAFC, bought the calls on his recommendation Tuesday and stock is up almost 9%. The group are all higher. I wish someone gave some good stocks for puts as well. If anyone follows someone who gives ideas on the really bad companies please advise.

I like to hedge on both sides.

Thanks David and all who make this a great site.

Nov 13 09:44 AM

[schlumpf:]

Ups, he told this also Oktober / November 2008


On Nov 13 07:39 AM enigmaman wrote:

> The good news is W Buffet says "the worst is over, the bottom in
> stocks has been made, dont pass on something thats attractive today"

Nov 13 09:59 AM