Seeking Alpha

David Fry's  Instablog

David Fry
  • on ETF Quick Picks And Lists
9,729 Followers
0 Following
Send Message
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
My company:
ETF Digest
My blog:
Dave's Daily
My book:
The Best ETFs: U.S. Equities (A Companion Guide To Building Your ETF Portfolio)
  • MARKETS LOSE SOME ALTITUDE 0 comments
    Mar 28, 2012 7:40 PM | about stocks: SPY, IWM, QQQ, AAPL, XLK, AA, CAT, XLI, XLY, BAC, XLF, LEN, ITB, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, DBC, DJP, USO, UGA, XLE, JJG, DBA, MOO, EFA, EEM, EWJ, EWA, EWC, EWG, EWQ, EWH, EWZ, RSX, EPI, FXI

    Bernanke's ABC TV performance Tuesday was unremarkable saying little to stimulate QE bulls. (It sort of reminded me of a Jackie Kennedy White House tour - yeah, I'm that old.)

    Wednesday's Durable Goods Orders missed (2.2% vs 3% expected & prior -4%: ex-transportation 1.6% vs expected 1.5% & prior -3.2%) and didn't thrill bulls. Inside the numbers inventories remain high and sales, particularly of electronic goods, was disappointing.

    Oil inventories showed a large and unexpected build with over 7M bbls vs 2.5M expected. France (they won't be the last to do this in a political year) indicated they might be willing to release oil from their strategic reserve. Not mentioned is whether France, or any country, has the refining capacity to handle increased supplies. I doubt it. Nevertheless, supplies and the French news drove crude prices (USO) lower along with the energy sector (XLE).

    Stocks overall declined led by losses in materials (AA & XLB) and industrials (CAT & XLI). Meanwhile financials (BAC & XLF) continued to rise, if only slightly. Widely held market darling Apple (AAPL) thumbed its nose at selling while rising slightly as did homebuilders (LEN & ITB). So, we have the odd pairings of Apple, Bank of America and Lennar stronger on the day. This is sector rotation of a different kind.

    <READ MORE>

    Themes: Ben Bernanke, Stocks, Bonds, Commodities, U.S. Treasuries, Technology, Major Markets, ETF, ETFs Stocks: SPY, IWM, QQQ, AAPL, XLK, AA, CAT, XLI, XLY, BAC, XLF, LEN, ITB, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, DBC, DJP, USO, UGA, XLE, JJG, DBA, MOO, EFA, EEM, EWJ, EWA, EWC, EWG, EWQ, EWH, EWZ, RSX, EPI, FXI
Back To David Fry's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Most Commented
Posts by Themes
AAPL, Actively Managed ETFs, Africa, AG, Agricultural Commodity ETFs, Algo, Algos, Alt ETFs, Alternative ETFs, Apple, Argentina, Asia, Australia, Banks, Base Metals, Basic Materials, Ben Bernanke, Bernanke, Bill Gross, Bonds, bonds, Bonds ETF, Brazil, BRIC, Chile, China, China Economy, China ETFs, Chinese, Chinese ETFs, Colombia, Commodities, Commodities , Commodity ETFs, Commodity Producer ETFs, Copper, Copper , Corporate Bonds, COT report, Crude Oil, CSI 300, Currencies, Currency, DeMark , Direct Energy, Dividend ETFs, Dollar, dollar index, Dollar Index, earnings,
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.