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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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  • MARKETS REBOUND TO CLOSE LOSING WEEK 0 comments
    Mar 23, 2012 7:38 PM | about stocks: SPY, TVIX, IWM, QQQ, MU, SOXX, NKE, XLY, BAC, KBE, XLF, TOL, XHB, ITB, IYR, CAT, XLI, XLB, IEF, TLT, MUB, UUP, FXE, FXY, GLD, GDX, SLV, JJC, DBB, DJP, USO, UGA, UNG, IXC, JJG, EFA, EWJ, EEM, EWA, EWC, EWG, EWI, EWY, EWT, IDX, EWZ, RSX, EPI, FXI

    Fed governors are out on the stump making speeches and arguing publicly regarding current and future monetary policy. Fisher says no more QE as does Lockhart (for now). Meanwhile, Bullard and Evans want QE now. Bullard's comments were interesting since it seemed he wanted QE now based on what he perceives as weakening inflation.

    Most market moving news Friday was negative frankly. China continues to put out disappointing economic data. State-owned enterprises (always a scary description) reported a decline in profits and banks "misstated" default exposure by over 20%. In the U.S., New Home Sales disappointed (313K vs 325 expected & prior revised lower to 318K) which isn't what bulls (ITB & XHB) hoped for obviously.

    Rumors of a coup in China have been dismissed out of hand (see Stratfor.com); other rumors had Israel in "mobilization" while the WH quickly released a note stating Iran is far away from nukes, and those pesky "we want a hand-out" North Koreans launched another missile.

    <READ MORE>

    Stocks: SPY, TVIX, IWM, QQQ, MU, SOXX, NKE, XLY, BAC, KBE, XLF, TOL, XHB, ITB, IYR, CAT, XLI, XLB, IEF, TLT, MUB, UUP, FXE, FXY, GLD, GDX, SLV, JJC, DBB, DJP, USO, UGA, UNG, IXC, JJG, EFA, EWJ, EEM, EWA, EWC, EWG, EWI, EWY, EWT, IDX, EWZ, RSX, EPI, FXI
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