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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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  • China Throws Bulls A Curve 1 comment
    Mar 22, 2012 7:50 PM | about stocks: TVIX, SPY, IWM, QQQ, AAPL, XLK, AA, XLB, CAT, XLI, MCD, XLY, AIG, XLF, DVY, IYR, XLV, IEF, TLT, LQD, HYG, UUP, FXE, FXA, GLD, GDX, SLV, JJC, DJP, USO, UGA, CVX, XLE, DBA, JJG, EFA, EEM, EWJ, EWG, EWP, EWZ, RSX, EPI, FXI

    China's PMI declined to 48.1 vs 49.6 indicating a much sharper contraction that "soft landing" proponents believed. This created a ripple effect throughout global markets. Retail Sales in the U.K. were also poor (-.8% vs -.5% expected) which also included energy. Even Canada's Retail Sales (.5% but ex-auto declined .5%) which missed expectations. Back in the eurozone old fears (debt and economic contraction) bubbled again to the surface driving markets there lower.

    In the U.S. Jobless Claims (348K vs 350 expected & another revision higher for prior 352K) allowed for a minor beat and some overhyped headlines. FHFA House Price Index came in absolutely flat which shouldn't surprise given the inventory overhang. Leading Indicators (LEI) were higher (.7% vs .6% expected & prior revised lower to .2%). Together, not so bad, but U.S. markets can't take a solo walk higher given high levels of global integration and correlation.

    Bonds rallied as stocks, gold, the euro, oil and most commodities sold-off as bullish sentiments about economic growth take a holiday. All one can conclude for now is markets rose too far too fast on dreadfully light volume with the latter being the most troubling.

    <READ MORE>

    Themes: ETF, ETFs Stocks: TVIX, SPY, IWM, QQQ, AAPL, XLK, AA, XLB, CAT, XLI, MCD, XLY, AIG, XLF, DVY, IYR, XLV, IEF, TLT, LQD, HYG, UUP, FXE, FXA, GLD, GDX, SLV, JJC, DJP, USO, UGA, CVX, XLE, DBA, JJG, EFA, EEM, EWJ, EWG, EWP, EWZ, RSX, EPI, FXI
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    Yep, TVIX is a real disgrace. Absolutely agree with that comment.
    22 Mar 2012, 09:55 PM Reply Like
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