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Dec 4, 2006 - Issue #035
Hot Stuff opens for business!
Dow score card for the week ending 12/1/06.
DJ-30: 12194.13 -86.04 -0.70%. In the Real World: 50.74 -0.36 -0.70%.
UP: 11 (+3), Down: 19 (-3).
Trends (weekly): This is the subjective part.
Rising 12 (-7):
AA, DIS, HD, HON, HPQ, JNJ, JPM, KO, MO, T, VZ, XOM.
Consolidating 15 (+5):
AIG, -*AXP, -*BA, -*DD, GE, -*IBM, -*INTC, MCD, -*MMM, MRK, -*MSFT, PFE, PG, UTX, WMT.
Declining 3 (+2):
-*C, CAT, -*GM.
* denotes change of category.
+/- denotes change of direction.
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Notice the backing off in the Dow components. Is the market reversing or merely pausing
before continuing to rise?
Rising bond prices (declining bond yields) would indicate money moving out of stocks
After declining, crude oil is bouncing back. XOM is up sharply.
Foreign markets all look 'toppy' to me. I don't see any bargains, do you?
Precious metals (gold, silver, platinum) are up.
Option volatilities are starting to rise.
These are negatives.
On the other hand, Dow components that have already been sold down and that exhibit signs
of strength should be accumulated on pull-backs. In my opinion, AA, HD, INTC, and now WMT.
Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!