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David Fry
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David Fry writes a subscription newsletter focused on technical analysis of exchange-traded funds, called ETF Digest (www.etfdigest.com). Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and... More
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ETF Digest
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The Best ETFs: U.S. Equities (A Companion Guide To Building Your ETF Portfolio)
  • FACEBOOK IPO THE WORST KEPT SECRET ON WALL STREET 0 comments
    Feb 1, 2012 7:51 PM | about stocks: IWM, QQQ, GM, XLI, AMZN, FDN, BRCM, SOXX, STX, QCOM, XLK, ITB, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, DJP, USO, UGA, JJG, EFA, EZU, EWJ, EWU, EWG, AAXJ, EWZ, RSX, EPI, FXI, SPY
    openingimage

    Yes, the copy that follows has little to do with Facebook. After all what do we really know about it?

    The much watched ISM Manufacturing Data (54.1 vs 54.5 consensus and previous 53.1 revised lower) stimulated bulls Wednesday. Cynics believe auto manufacturers are just stuffing inventory to dealers. We'll see if these cars get sold or not. One thing is clear; it's easier to buy a car for consumers given industry self-financing than it is to buy a home period. If you have a pulse, you can buy a car. (See U.S. Sector, Stocks & Bond ETFs for GM and linked ETF XLI) Plus owning a new can be more satisfying than most things at least until the new car smell wears off and payments accumulate.

    Bulls did rally stocks from the opening bell on global manufacturing data including the U.S. ISM report. News that China's PMI was slightly higher than expected (50.5 versus 50.4 previous) as was Europe's (48.8 versus 46.9) was part of the stimulant. It may mean no manufacturing slowdown in those regions. Further the eurozone news that Greek debt negotiations with its bond holders would be resolved soon was also bullish. But, later it was announced a settlement may not occur until next week. Where have we heard this stuff before? (See Overseas Sectors & ETFs below for FXI, EZU and EFA).

    <READ MORE>

    Stocks: IWM, QQQ, GM, XLI, AMZN, FDN, BRCM, SOXX, STX, QCOM, XLK, ITB, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, DJP, USO, UGA, JJG, EFA, EZU, EWJ, EWU, EWG, AAXJ, EWZ, RSX, EPI, FXI, SPY
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