More Of The Same

Tuesday we saw a little pop-up, Wednesday was sideways, Thursday was a big drop and then Friday  a little claw back. For the week the DJIA was down .9%

Is Greece out the picture now? …I doubt that we have seen the last of the European distractions 

So we continue with no clear picture…again

So what did I see in my weekend review?

The 10-yr Treasury yield is now at 1.67, now up a little  

IBD (Investor Business Daily) now has dropped to: Up Trend Under Pressure

Copernicus Systems: Is still mixed, but short.

Moneys flows are up in 3/3 portfolios, but only 2/3 portfolios are up in price.

IBD 50 Top Five: 

QCOR, SXCI, ALXN, GNC, SWI

Last Week:

LQDT, QCOR, SXCI, ALXN, MLNX

Copernicus Top Stocks are: 

ARBA, EBAY, BIIB, DIS, WMT

Last Week:

ARBA, NTES, WMT, T, EBAY

 Currently my "Stocks for a Trade" now consists of:

None at this time

 IBD 50 Basket Holdings Are:

None at this time

 ETF’s for a trade are:

(All gains or losses shown are the total since purchase)

GLD (3) buys for -7.39%  

SH -3.31%

SDS -6.86%

What will I do?

Once again I did not close out the short ETF’s….will I ever? (Yes)

I noticed that LQDT had a nasty drop this week, but all of the stocks in both top five groups above clawed up in ratings except for ARBA which was already in a number one spot and WMT which did drop a couple of spots...not sure what to make of this, but it is interesting

I hope you have a great week

I would like to say Cautiously Optimistic, but

I am just cautious. However,  it was great to see that market rally on Thursday and Friday and the resulting change in "Outlook" at  IBD.

But now Greece is once again the distraction with. “The pro-bailout New Democracy party came in first Sunday in Greece's national election and could gather enough support to form a pro-bailout coalition to keep the country in the Eurozone.”As I understand this means this party gets the first chance at forming a new government and if unsuccessful the party that came in second gets their chance which would be:  “The radical left Syriza party, which has vowed to repeal Greece's international bailout deal”

So no clear picture there in my mind and the uncertainty continues…we will see how our market views this on Monday morning

So what did I see in my weekend review?

 The 10-yr Treasury yield is now at 1.59, virtually unchanged 

IBD (Investor Business Daily) now has: Confirmed Up Trend

Copernicus Systems: Is still short in the market, but again not unanimous. I do see one of the key indicators bouncing off of a lower limit…might this be a good sign?

Moneys flows are actually up in 3/3 portfolios and 3/3 portfolios are up in price.

IBD 50 Top Five: 

LQDT, QCOR, SXCI, ALXN, MLNX

Last Week:

LQDT, GNC, SXCI, ALXN, MLNX

Copernicus Top Stocks are: ARBA, NTES, WMT, T, EBAY

Last Week:

ARBA, NTES, WMT, EBAY, BMC

 Currently my "Stocks for a Trade" now consists of:

None at this time

 IBD 50 Basket Holdings Are:

None at this time

 ETF’s for a trade are:

(All gains or losses shown are the total since purchase)

GLD (3) buys for -4.23%, up a little this week but still negative

SH -2.04%

SDS -3.75%

What will I do?

I still have not closed out these short positions and they actually improved a little. Perhaps it is now time. I will see what happens on Monday.

If the market does clearly turn this week I am looking at: LSDT, QCOR and NTEX for initial positions

I hope you have a great week.

The Picture Becomes More Favorable

Not sure how truly favorable it is but “Stock index futures pointed to steep gains on Sunday, looking to extend Wall Street's recent rally after euro zone finance ministers agreed on an aid package to help Spain.”

This at least will remove a little of the dreaded unknowns as the Spanish banks should require less attention…but various  European distractions that our Markets have become so fond of are available to pop-up at any time.

So what did I see in my weekend review?

 The 10-yr Treasury yield is now creeping up from last week, now at 1.6%. I have to tell myself this is a good sign.

IBD (Investor Business Daily) continues to have: Market in Correction, but notes “Another hint of somewhat better action is a higher number of decent stocks breaking out than what was seen in previous weeks.

Copernicus Systems: Is still short in the market, but again not unanimous. Moneys flows are actually up in 2/3 portfolios and 3/3 portfolios are up in price.

IBD 50 Top Five: 

LQDT, GNC, SXCI, ALXN, MLNX

Last Week:

LQDT, SXCI, ALXN, GNC, MLNX 

Copernicus Top Stocks: ARBA, NTES, WMT, EBAY, BMC….note the presence of Wal-Mart

 Currently my "Stocks for a Trade" now consists of:

None at this time

 IBD 50 Basket Holdings Are:

None at this time

 ETF’s for a trade are:

(All gains or losses shown are the total since purchase)

GLD (3) buys for -6.12%

SH -2.42%

SDS -4.38%

What will I do?

It looks like time to close out these shorts…but I may wait a little longer until the trend is clear. Perhaps I will let the rules help me with this one, which does mean dropping SDS soon.

If the market does clearly turn this week some of the top stock listed above will be reviewed for initial positions

I hope you have a great week.

Ominous News Continues

What else can you say when the DJIA (the Dow) continues to drop, now at 12,119. It is just Ominous.

This was preceded by a Friday close last week of 12455, that along with the things, I follow I labeled as ominous.

This week I read: “The indexes ended May with hefty losses. The Nasdaq lopped off more than 7% — its worst monthly performance in the past two years. The NYSE composite dropped 8%, while the S&P 500 fell about 6%.”

And: “Since 2003, a monthly loss in the Nasdaq of 5% or more has usually been followed by one or more additional down months.”

So what did I see in my weekend review?

The 10-yr Treasury yield is now at 1.47%.

It was noteworthy to read: “Investors stampeded into U.S. government bonds Thursday, driving the interest rate on the 10-year Treasury note as low as 1.54 percent, a record”

And:  “the record low rate beat the previous mark of 1.55 percent, which was set in November 1945. That was just after the end of World War II, when government price controls kept interest rates artificially low to preserve financial stability.” 

IBD (Investor Business Daily) continues to have: Market in Correction

Copernicus Systems: Is still calling for a short in the market, but still not completely  unanimously, which I should point out is rare.

Moneys flows are still down 3/3 and now the portfolio prices are in step – no divergences in price.

IBD 50 Top Five: 

LQDT, SXCI, ALXN, GNC, MLNX.   I make note of MLNX’s entry, but I also took a look at the chart of each, and all are pretty boring for top stocks.

Last Week:

LQDT, ALXN, GNC, SXCI, TSCO   

Conversely some of the top stocks I see in the Copernicus rankings: ARBA, NTES and T …all look very nice.

 Currently my "Stocks for a Trade" now consists of:

None at this time

 IBD 50 Basket Holdings Are:

None at this time

 ETF’s for a trade are:

(All gains or losses shown are the total since purchase)

GLD (3) buys for -4.44%, up a little this week

SH +1.39% now positive.

SDS +2.75%

What will I do?

I did not add to SH , which I alluded to last week. Perhaps I will this week on an up-day. It looks like the levered market inverse SDS should be added to as well.

I hope you have a great week.