Watch these for leadership and relative strength.
The only weak stock I saw was NQ, not sure why its still on the IBD list.
Another weak one was Buffalo Wild Wings, dropped on 3x normal volume last week.
All others seem to be doing OK.
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IBD Top 50 This Week and Other Items Worth Noting
Started by
PrintFaster
, Feb 09 2014 01:11 PM
6 replies to this topic
#2
PrintFaster
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Posted 09 February 2014 - 01:16 PM
Nasdaq Summation Index now the lowest reading of the year:
Could be the start of a moonshot run just like off the October 1998 lows?
[attachment=21992:nazsum.png]
Edited by PrintFaster, 09 February 2014 - 01:16 PM.
#3
PrintFaster
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Posted 09 February 2014 - 01:31 PM
Watching EEM:
[attachment=21993:eem0209.png]
#4
PrintFaster
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Posted 09 February 2014 - 01:41 PM
Richard Russell sweating bullets, he's convinced we are going to crash.
Also claims we are in a "primary bear market" since 2000, which makes no sense since so many major indexes and sectors have hit all time lifetime highs which far exceeded the 2000 and 2007 tops. Not sure why he thinks this way.
http://ww2.dowtheoryletters.com/
"Something is wrong with me. I've been sweating during all my waking hours. I don't know why this has come about, but I know that sweating comes from fear. I'm not consciously aware of what I might be afraid of, and I assume that the fear comes from my unconscious.
Since infancy I've always been ultra-sensitive to danger. For this reason I have never been caught in a primary bear market -- my sensitivity to impending danger (and Dow Theory) has always saved me and my subscribers. But this time my unconscious fear is unrelenting, and it won't leave me alone. It just won't let me dry off.
I've gone over the symptoms repeatedly. Finally, I've admitted it to myself. I'm afraid we're in a primary bear market in the economy and the stock market. I believe it's going to be an absolute "brute." And I'm afraid of what might lie ahead.
And the worst of it is that we're being deliberately lied to by the Fed and by our government. The markets (which normally tell us the truth) are being controlled and manipulated by the government and the Federal Reserve.
Ben Bernanke is reputed to be an "expert" on the Great Depression of the 1930s. I don't know about his expertise regarding the Depression, but I'm darn sure Bernanke doesn't understand markets.
I've asked myself why Bernanke got himself into this predicament? I believe his problem is that he studied the Great Depression strictly from the standpoint of economics and the Fed's role in the Depression. But Bernanke never studied nor understood the role of the stock market during the 1930s.
I had the fortunate experience of studying the events of the 1930s under the tutelage of the great Dow Theory genius, E. George Schaefer. George understood the power and essence of the primary trend more thoroughly than any analyst I have ever known. I consider a thorough knowledge and understanding of the primary trend the single most important and least understood area of stock market analysis.
I sincerely doubt whether Yellen will realize that we are now in a resumption of the primary bear market that started in 2000. And I can't blame her, since I know only one other market student who agrees with me, and that's my old buddy Robert Prechter of Elliott Wave fame (if anything, Bob is more bearish than I am). John Williams of Shadow Statsmakes a living from telling the truth about the US economy (example -- Williams states that the actual U S unemployment rate is over 20%). I liken the whole current picture to a ship that has sprung a terrible leak and the captain is waving an empty bottle while singing, "Happy days are here again."
As I write, fiat currencies around the world are sinking. Normally when this happens, gold will surge. But rising gold would be a red flag waving in the Fed's face, and there's no doubt in my mind that the Fed has been manipulating gold and preventing its rise.
Question -- will Janet Yellen pursue the same course that Ben Bernanke has chosen? Or will she finally take the Fed's heavy hand off gold? My guess is that she will follow in Bernanke's path and manipulate gold while continuing to print Federal Reserve notes by the trillions.
One amazing thing about a primary bear market is that it tends to exposeall cheating and lying and criminal activity. As Warren Buffet put it, when the tide runs out at the nudist camp, the bathers can finally tell the men from the women.
Following the great crash of 1929, the market rallied into 1930 in a huge upside correction of the crash. The Dow hit a high in January, backed off during the month of February and then rallied to a second lower peak in March. Following its second lower peak, the Dow resumed its bear market action and headed persistently lower. It was here that the US economy started to fall apart in earnest.
If Bernanke understood markets he'd understand why he's now fighting a losing battle with the US economy. By spending trillions of dollars at the 2009 lows, the Fed was able to trigger a huge and overdue upward correction of the crashing primary bear market. Thus, the bear market wastemporarilyheld back.
Returning to the present, the great market advance since the 2009 low was actually an upward correction of the bear market that started in 2000. All the market action since 2000 has been part of a huge, slow-building top. If we follow the 1929 pattern, the Dow may now decline for a month and then rally to a second lower peak. Following the second lower peak, the Dow will then decline persistently as the bear market resumes in earnest.
Ironically and tragically, Bernanke continues to believe that his Fed stimulus will render the US economy so healthy that by the end of this year, Fed stimulus will no longer be needed.
The great irony is that Bernanke will be waiting during a primary bear market for business conditions to improve. This is tantamount to a person running up a down escalator to get from the first floor to the second floor.
Bernanke's reign at the Fed is about over, and the job now falls to Janet Yellen. I doubt if Yellen's knowledge of markets is any better than Bernanke's. If so, I wish her well, but I don't envy her.
As the situation becomes progressively more bearish, my best guess is that Yellen will continue to fight the primary bear trend with all the ammunition at the Fed's command.
With the "down January" and the market suddenly stalling, I expect public sentiment to lose its good-time giddyness and to slowly turn bearish. I also expect the new bearish sentiment to feed on itself. I believe the public will soon demand HONEST statistics and data from the government. Remember, once the bear market is established, all the lying and nonsense will come to an end."
Also claims we are in a "primary bear market" since 2000, which makes no sense since so many major indexes and sectors have hit all time lifetime highs which far exceeded the 2000 and 2007 tops. Not sure why he thinks this way.
http://ww2.dowtheoryletters.com/
"Something is wrong with me. I've been sweating during all my waking hours. I don't know why this has come about, but I know that sweating comes from fear. I'm not consciously aware of what I might be afraid of, and I assume that the fear comes from my unconscious.
Since infancy I've always been ultra-sensitive to danger. For this reason I have never been caught in a primary bear market -- my sensitivity to impending danger (and Dow Theory) has always saved me and my subscribers. But this time my unconscious fear is unrelenting, and it won't leave me alone. It just won't let me dry off.
I've gone over the symptoms repeatedly. Finally, I've admitted it to myself. I'm afraid we're in a primary bear market in the economy and the stock market. I believe it's going to be an absolute "brute." And I'm afraid of what might lie ahead.
And the worst of it is that we're being deliberately lied to by the Fed and by our government. The markets (which normally tell us the truth) are being controlled and manipulated by the government and the Federal Reserve.
Ben Bernanke is reputed to be an "expert" on the Great Depression of the 1930s. I don't know about his expertise regarding the Depression, but I'm darn sure Bernanke doesn't understand markets.
I've asked myself why Bernanke got himself into this predicament? I believe his problem is that he studied the Great Depression strictly from the standpoint of economics and the Fed's role in the Depression. But Bernanke never studied nor understood the role of the stock market during the 1930s.
I had the fortunate experience of studying the events of the 1930s under the tutelage of the great Dow Theory genius, E. George Schaefer. George understood the power and essence of the primary trend more thoroughly than any analyst I have ever known. I consider a thorough knowledge and understanding of the primary trend the single most important and least understood area of stock market analysis.
I sincerely doubt whether Yellen will realize that we are now in a resumption of the primary bear market that started in 2000. And I can't blame her, since I know only one other market student who agrees with me, and that's my old buddy Robert Prechter of Elliott Wave fame (if anything, Bob is more bearish than I am). John Williams of Shadow Statsmakes a living from telling the truth about the US economy (example -- Williams states that the actual U S unemployment rate is over 20%). I liken the whole current picture to a ship that has sprung a terrible leak and the captain is waving an empty bottle while singing, "Happy days are here again."
As I write, fiat currencies around the world are sinking. Normally when this happens, gold will surge. But rising gold would be a red flag waving in the Fed's face, and there's no doubt in my mind that the Fed has been manipulating gold and preventing its rise.
Question -- will Janet Yellen pursue the same course that Ben Bernanke has chosen? Or will she finally take the Fed's heavy hand off gold? My guess is that she will follow in Bernanke's path and manipulate gold while continuing to print Federal Reserve notes by the trillions.
One amazing thing about a primary bear market is that it tends to exposeall cheating and lying and criminal activity. As Warren Buffet put it, when the tide runs out at the nudist camp, the bathers can finally tell the men from the women.
Following the great crash of 1929, the market rallied into 1930 in a huge upside correction of the crash. The Dow hit a high in January, backed off during the month of February and then rallied to a second lower peak in March. Following its second lower peak, the Dow resumed its bear market action and headed persistently lower. It was here that the US economy started to fall apart in earnest.
If Bernanke understood markets he'd understand why he's now fighting a losing battle with the US economy. By spending trillions of dollars at the 2009 lows, the Fed was able to trigger a huge and overdue upward correction of the crashing primary bear market. Thus, the bear market wastemporarilyheld back.
Returning to the present, the great market advance since the 2009 low was actually an upward correction of the bear market that started in 2000. All the market action since 2000 has been part of a huge, slow-building top. If we follow the 1929 pattern, the Dow may now decline for a month and then rally to a second lower peak. Following the second lower peak, the Dow will then decline persistently as the bear market resumes in earnest.
Ironically and tragically, Bernanke continues to believe that his Fed stimulus will render the US economy so healthy that by the end of this year, Fed stimulus will no longer be needed.
The great irony is that Bernanke will be waiting during a primary bear market for business conditions to improve. This is tantamount to a person running up a down escalator to get from the first floor to the second floor.
Bernanke's reign at the Fed is about over, and the job now falls to Janet Yellen. I doubt if Yellen's knowledge of markets is any better than Bernanke's. If so, I wish her well, but I don't envy her.
As the situation becomes progressively more bearish, my best guess is that Yellen will continue to fight the primary bear trend with all the ammunition at the Fed's command.
With the "down January" and the market suddenly stalling, I expect public sentiment to lose its good-time giddyness and to slowly turn bearish. I also expect the new bearish sentiment to feed on itself. I believe the public will soon demand HONEST statistics and data from the government. Remember, once the bear market is established, all the lying and nonsense will come to an end."
#5
AChartist
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- Traders-Talk User
- 5,800 posts
Tim
Posted 09 February 2014 - 01:53 PM
Relative to EEM,
I've been buying the leader relative strength etf VNM, slowly cost averaging.
Looking for some points of diversification.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#6
thespookyone
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- Traders-Talk User
- 6,043 posts
Member
Posted 09 February 2014 - 10:11 PM
Nasdaq Summation Index now the lowest reading of the year:
Could be the start of a moonshot run just like off the October 1998 lows?
[attachment=21992:nazsum.png]
Could be the start of 6 months under the zero line, more likely, imho.
#7
AChartist
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- Traders-Talk User
- 5,800 posts
Tim
Posted 09 February 2014 - 10:20 PM
I think an oversold summation at a higher price low is bullish but it's
not my forte'
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
