VRTrader Update
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TTHQ Staff
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Posted 07 December 2009 - 07:36 AM
TheVRTrader.com VR Silver Newsletter - Monday 12/7/2009
"Tools for the High Performance Trader"
Copyright ©2009, All rights reserved.
Redistribution in any form is strictly prohibited.
"Tools for the High Performance Trader"
Copyright ©2009, All rights reserved.
Redistribution in any form is strictly prohibited.
LEIBOVIT FILES | by MarkLeibovit
Leibovit Files
Monday, December 07, 2009
How Real Is The Rally In The Dollar? And, Does It Really Mean AHill Of Beans Anyway?
--------------------------------------------
UPCOMING ECONOMIC RELEASES/MARKET EVENTS
DECEMBER 7 - 11, 2009:
---------------------------------------------
MONDAY, December 7, 2009:
4-Week Bill Announcement
11:00 AM ET
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET
Federal Reserve Chairman Ben Bernanke speech to the Economic Club ofWashington, D.C.
12:00 PM ET
Consumer Credit
3:00 PM ET
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TUESDAY, December 8, 2009:
ICSC-Goldman Store Sales
7:45 AM ET
Redbook
8:55 AM ET
4-Week Bill Auction
11:30 AM ET
3-Yr Note Auction
1:00 PM ET
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WEDENSDAY, December 9, 2009:
MBA Purchase Applications
7:00 AM ET
Wholesale Trade
10:00 AM ET
EIA Petroleum Status Report
10:30 AM ET
10-Yr Note Auction
1:00 PM ET
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THURSDAY, December 10, 2009:
International Trade
8:30 AM ET
Jobless Claims
8:30 AM ET
RBC CASH Index
9:00 AM ET
Quarterly Services Survey
10:00 AM ET
EIA Natural Gas Report
10:30 AM ET
3-Month Bill Announcement
11:00 AM ET
6-Month Bill Announcement
11:00 AM ET
52-Week Bill Announcement
11:00 AM ET
Federal Reserve Gov. Elizabeth Duke speech to Chicago Fed's mortgageforeclosure policy conference in Chicago.
12:45 PM ET
30-Yr Bond Auction
1:00 PM ET
Treasury Budget
2:00 PM ET
Fed Balance Sheet
4:30 PM ET
Money Supply
4:30 PM ET
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FRIDAY, December 11, 2009:
Retail Sales
8:30 AM ET
Import and Export Prices
8:30 AM ET
Consumer Sentiment
9:55 AM ET
Business Inventories
10:00 AM ET
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STOCKS - ACTION alert -
A much better than expected monthly jobs number juiced the marketearly before sellers made a game of it. Early gains gave way to choppy,two sided trade as the indices ended up in the green for the session.The Dow was up 22.75 at 10388.90, the S&P 500 was up 6.06 at1105.98, and the Nasdaq Composite was up 21.21 at 2194.35. Volumeincreased over Thursday and breadth was strong.
Again, like a cockroach on the counter, the U.S. Dollar mysteriouslybegins to rally, Gold gets whacked and though stocks saw new bullmarket highs early in the session, they gave way a bit into the close.
We have had so many false rallies in the U.S. Dollar Index, it'shard to believe this is the BIG ONE that will supposedly destroy theGold market and the equity market. Let it come. Bring it on! But, weall know where it's headed. There is also the possibility that whathappens with the U.S. Dollar will have progressively diminishing impacton Gold and equities. We'll have to wait and let the market judge.
Gold was extended and needed correct. That's all that happening.Stock indexes saw new bull market highs on Friday (even though they didback-off during the day). The key and 'leading' Dow TransportationAverage broke out to new bull market highs on heavy upside volumegenerating new 'higher' Volume Reversal ™ projections.
From day one I believed and still believe all we're seeing is asuper bear-market rally in stocks. Gold is different story. Themult-year rally has a long, long way to go. Even if stocks areexperiencing a super bear-market rally, can you tell me that rally isOVER or perhaps just reaching a point of rest? My thinking is that, atworst, we correct from here because of 'fear' regrading the impact of arising U.S. Dollar (or some other inane reason) and we temporarilyshake out all the bulls and embolden the bears. Overall, I do notcurrent see the end of the bear-market rally. It is too important toBarrack Hussein Obama and his cohorts at the Plunge Protection Team tokeep this market alive and well. It is one of the only things they havegoing for themselves.
A double-dip recession? Yes, I believe that will occur, but will ithappen now because so many people are warning and talking about it? Orperhaps will it occur in 2011?
One of the keys of my intermediate cyclical analysis to help answerthis question is the completion of my 2010 Annual Forecast Model. Thatwill be done in January. For the time being we're in limbo.
Meanwhile, put up a weekly chart of the Dow Industials or S&P500 and tell me what you see. If that's a bearish pattern, I need tostart smoking weed. Yes, a bearish pattern COULD develop and myresponse is WAIT until it does!
In economic news, November nonfarm payrolls fell by 11,000 vs.consensus of -125,000. Unemployment came in at 10.0% vs. consensus of10.2%. The average work week came in at 33.2 hours vs. consensus of33.1 hours. Average hourly earnings for November increased 0.1%month-over-month vs. consensus of 0.2%.
The pre-market futures were flat up until the November payroll datawas released at which point things really got busy. The Dow shot up toa gain of 150 points before sellers stepped up and pushed the Dow downto a 54 point loss. Buyers then re-emerged and the rest of the sessionwas a see-saw affair.
Small caps put in an impressive performance, advancing 2.38% on thesession. More importantly, the Dow Transports posted a solid gain of2.17% while breaking out to new recovery highs which bodes well for thecontinuation of this rally.
Homebuilders (XHB +2.02%) snapped back somewhat Friday, posting apositive VR. Real estate stocks also fared well as IYR gained 2.69% onheavy volume.
Risk was flowing back into the market as evidenced by the abovementioned outperformance of small caps along with further gains by highyield bonds (HYG +0.68%) and semiconductors (SMH +1.38%). SMH finallyposted above average volume in this rally phase that started November27.
Financials also were a leading participant Friday as XLF gained1.88% on very heavy volume. A good portion of the attention there wascentered around Bank of America as they announced that they priced anoffering at $15.00 per common equivalent security. The offering isexpected to generate some $19.3 billion to help the bank repay its TARPloan.
The dollar was very strong Friday as now the question making therounds is when will the Fed begin draining excess liquidity from thefinancial system (see below). It may be a tad premature for thatargument, but the effect on commodities and bonds was unmistakable.
Energy (XLE -0.73%) and materials (XLB -1.09%) were down Friday, butnot as bad as gold (GLD -4.17%) and silver (SLV -2.52%). It appearsthat money was leaving the relative safety of gold and moving intoequities, most likely small caps.
Gold miners (GDX) got absolutely waxed, dropping 5.31%.
The market has rallied for the last eight months on largely badnews. That's called the wall of worry. Now, the market gets good newsand had trouble holding on to its rally. This is often called "buy therumor, sell the news."
--------------------------------------------
DOW TRANSPORTS - ACTION alert -
Transportation stocks surged after a much better than expectedemployment report, good news from the airlines, and lower oil prices.The Dow Jones Transportation Average jumped 87.22 or 2.17% to 4101.76.
Airlines surged (^XAL +4.33%) as well on Friday. Late Thursday, UAL(UAUA +5.42%) said consolidated traffic increased 1.8% in November to8.63 billion revenue passenger miles, equal to one passenger flown onemile. Seat capacity declined 2.7% to 10.75 billion available seatmiles, helping to lift its load factor to 80.2% from 76.7%. AmericanAirlines (AMR +7.28%) reported its November traffic dipped 0.5% whilecapacity fell 4.2%. That was enough to lift the carrier's load factorto 79.6% from 76.6%. US Airways' (LCC +9.11%) November mainline trafficfell 1.8% while capacity declined 1.3%. Load factor fell 0.4 points to77.3%. JetBlue Airways (JBLU +2.28%) said Friday that its Novembertraffic rose 7.7% to 2.05 billion revenue passenger miles from 1.9billion a year ago. November capacity increased 5.3% to 2.64 billionavailable seat miles from the year ago period. Load factor, or thepercentage of seats filled with passengers, in November rose to 77.4%from 75.7% in the previ ous year.
What does a strong Dow Transportation Average indicate? It indicatesa strenghening economy or a least a strong perception that the economyis strenghening. More business travelers, more shipments ofmerchandise, etc. Ask yourself why did Warren Buffet buy BurlingtonNorthern?
---------------------------------------------
GOLD and METALS - ACTION alert -
Precious metals suffered their first big losses since the beginningof November as the Dollar rallied and traders close out their flight tosafety trades. Gold was down 46.10 to 1161.40 but had been as low as1147.40. Silver fell 0.34 to 18.47. Platinum dropped 43 to 1439.Palladium declined 9 to 372. Coming so close to December 7, was itanalogous to that historic 'day of infamy' from 1941? If you were long,I suppose it was.
Negative Volume Reversals ™ in the Gold shares support the view thatwe're probably headed lower down toward that 1070 level in spot gold.If 1070 doesn't hold, then we have some potentially bigger problems,but let's address that at a later time. Meanwhile, the break could bephony, just as the break we saw on Friday, November 27 when the Dubai'hoax' struct the thin financial markets like a 'creampuff hitting afan'.
VR Gold Leter subscribers were told to sell a week ago Monday and arenow ahead for doing so. We are awaiting either a breakout into newhighs, a pullback to support, and/or the formation of a Positive VolumeReversal ™ to jump back on board.
This has nothing to do with the physical gold you may have stuffedin your mattress or in your safe deposit box. That needs to be helduntil 'the fat lady sings'.
Copper held up much better as traders hope the improved economy willboost demand. March copper futures fell 0.0075 to 3.2375.
The VR Gold Letter is available to Platinum subscribers for only anadditional $50 per month and to Silver subscribers for only $70 permonth. Email me at mark.vrtrader@gmail.com to sign up today!
---------------------------------------------
BONDS - ACTION alert -
Treasuries got hit hard by the strong employment report andincreased odds of a Fed rate hike next year. The long bond futuredeclined 1 12/32 to 118 26/32.
Two-year note yields jumped 10 basis points to 0.83%, the biggestincrease in six months. Yields on 10-year notes increased 9 basispoints to 3.47%, the highest seen since mid-November. For the week,10-year yields are up from 3.21% last Friday, the biggest weeklyincrease since early August. Two-year yields have risen from 0.70% lastFriday, the first weekly increase in five.
Interest-rate futures indicated traders raised bets that the FederalReserve will increase its target rate by mid-2010 on Friday after theLabor Department said the economy shed far fewer jobs than predictedlast month and the unemployment rate unexpectedly declined. The August2010 fed funds contract indicated traders expect rates to rise to 0.52%by then, compared to a 0.34% rate a week ago and from the current rangeof zero to 0.25%. Futures for December 2010 show traders expect thebenchmark rate to be 0.93% by then, compared to 0.81% on Thursday. TheFed typically changes rates in 0.25-point increments, but futurescontracts settle at the average rate fed funds traded at for the month.
We have to ask ourselves is the tail wagging the dog? Are bondsdeclining because the U.S. Dollar Index mysteriously began to rally oris the U.S. Dollar Index rallying anticipating higher interest rates.
There is no way this economy can support higher interest rates orfor that matter higher taxes - either of which will certainly plunge usinto something worse than a 'double-dip'. If the higher rates and taxesdo come, I hope you have your ticket ready to leave the country andmove to business friendly location where at least you can make themoney to pay those taxes and higher rates. How about Brazil?
---------------------------------------------
CRUDE OIL - ACTION alert -
Oil tried to rally on the good economic news, but gave in to thepressure of the sharp rally in the Dollar. As a result, crude oilsettled down 0.99 at 75.47. Oil remains trapped in its trading rangebetween 75 and 82 (though it briefly dropped to 72 before getting backinto its trading range).
Natural gas gained 0.127 to 4.586.
---------------------------------------------
US DOLLAR - ACTION alert -
The US Dollar Index posted its largest gain since June after asurprisingly shallow drop in U.S. jobs raised expectations of astronger U.S. recovery that could prompt the Federal Reserve to hikerates earlier than some had forecast. The US Dollar Index was up 1.116to 75.916.
Where can this bugger rally? I have no idea? And, frankly, I'mdisinterested in even thinking about it. When you show me a steady andlong-standing uptrend (the inverse of what we seen seen for most ofthis decade), then I will look to buy the U.S. Dollar Index on apullback.
Stepping back and looking at a weekly chart of the U.S. Dollar, Ionly see a bear market!
---------------------------------------------
URANIUM - ACTION alert
Ux U3O8 Prices* (Uranium)
November 30, 2009 Posting
Spot: $45.50 UP 2.50. Bull market high in the cash market was $138.00.
The December Uranium Futures closed at $44.50. The current bearmarket low is $42.00. June 13, 2007 hosted the bull market high of154.95. Major support lies well under the market at $36.00.
The spot price of uranium quadrupled from 2004 to 2007. When it hit$138/lb, uranium became a certified bubble, which has now burst. Forinvestors, this is the best possible news, of course. Nuclear power isthe ultimate alternative fuel, as the French will tell you. You get allthe power, 84% cheaper than coal, with none of the politics of roguenations and none of the greenhouse emissions.
A friend of mine in the mining business told me (probably old news)that Denison Mines had closed a couple of its uranium mines due tocurrent market conditions relative to uranium. To my way of thinkingthis is a sure sign we're probably at or near the low for uranium.
---------------------------------------------
ECONOMIC NEWS:
The unemployment rate unexpectedly fell to 10 percent in November asemployers cut the smallest number of jobs since the recession began.The better-than-expected job figures are a rare note of encouragingnews for the labor market. The economy shed 11,000 jobs last month, animprovement from October's revised total of 111,000, the LaborDepartment said Friday. That's much better than the 130,000 Wall Streeteconomists expected. The unemployment rate fell to 10 percent from 10.2percent in October, where economists expected it to remain. Ifpart-time workers who want full time jobs and laid off workers who havegiven up looking for work are included, the so-called underemploymentrate also fell, to 17.2 percent from 17.5 percent in October.
There was other positive news in the report. The average work weekrose to 33.2 hours, from a record low of 33 hours. Economists expectemployers will increase hours for their current workers before hiringnew ones. And 159,000 fewer jobs were lost in September and Octoberthan first reported. Average weekly earnings jumped $4.08 to $622.17,the report said. Temporary help services added 52,000 jobs, the fourthstraight increase. That's also positive news, as companies are likelyto hire temporary workers before adding permanent ones.
Orders for U.S. factory goods expanded in October for the sixthmonth out of the last seven, the Commerce Department reported Friday.Factory orders increased 0.6% in October, above the flat readingexpected by economists. Analysts had expected a weak report after anadvanced report last week that orders for durable-goods decreased 0.6%in October. But the more complete data showed that overall factoryorders rose led by 1.6% jump in nondurable-goods orders. Core capitalequipment orders fell 3.4% in October, revised down from a 2.9% fallestimated a week ago, the government said. Inventories rose 0.4% inOctober, the first gain following 13 straight declines.
CORPORATE NEWS:
Bank of America said late Thursday that it raised more than $19billion selling new securities to help the giant lender wean itselffrom government support. Bank of America announced it priced anoffering of 1.286 billion common equivalent securities at $15 each.That will raise roughly $19.29 billion. The company said it will usethe money, together with existing funds, to repurchase the preferredstock it sold to the Treasury Department as part of the Troubled AssetRelief Program, or TARP.
As a result, trading in Bank of America topped more than 1 billionshares on Friday. The stock has seen daily trading volume in excess of1 billion shares twice before -- both sessions were in the spring of2009.
BAC rallied 3.3% on Friday.
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The Annual Forecast Model (VR Forecaster Report) is now posted at thewebsite - so sign up today! Remember, there is no price too high forgood information! Don't make the mistake of not subscribing. Lastyear's AFM warned in January we were entering a multi-month bearmarket! Gold-bug? Check on the AFM for Gold!
https://www.vrtrader.com/subscribe/index.asp
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TIMER DIGEST signals for Stocks, Gold and Bonds are available toPlatinum subscribers on the Home Page.
TIMER DIGEST has named Mark Leibovit of VRTrader.com 'TIMER OF THEYEAR' for 2006 and was named the #2 Timer for 2007.
More kudos - Mark Leibovit was named the #1 Intermediate MarketTimer for the 10 year period ending in 2007; the #1 Intermediate MarketTimer for the 3 year period ending in 2007; the #1 Intermediate MarketTimer for the 8 year period ending in 2007; and the #8 IntermediateMarket Timer for the 5 year period ending in 2007. NO OTHER ANALYSTSURVEYED APPEARED IN ALL FOUR CATEGORIES FOR INTERMEDIATE MARKET TIMINGAS PUBLISHED IN TIMER DIGEST JANUARY 28, 2008!
Mark Leibovit was also named the #1 Gold Timer for the one-yearperiod ending March 25, 2008. Most recently, from: 12/26/08 to:03/27/2009, he is ranked in the #5 position for 3 month return.
Current TIMER DIGEST signals for stocks:
'Buy' signal March 4, 2009.
'Sell' signal May 27, 2009.
'Buy' signal July 21, 2009.
'Sell' signal September 2, 2009.
'Buy' signal September 3, 2009.
'Sell' signal October 15, 2009.
'Buy' signal November 13, 2009.
'Sell' signal November 30, 2009.
'Buy' signal December 1, 2009.
Current TIMER DIGEST signals for Gold:
'Sell' signal November 30, 2009.
'Buy' signal December 1, 2009.
Mark Leibovit is currently ranked the #2 Market Timer for the 3month period ending October 23, 2009.
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DAILY VR LIST:
Editors note: The Daily VR List here is abbreviated with the fulllist only available to Platinum subscribers by clicking on 'Current VRList' on the Home Page of VRtrader.com. Canadian shares are listed atthe bottom of each section with the title: 'XXX CANADIAN STOCKS XXX'.
Silver subscribers who find this useful should upgrade to Platinumwhere you can pull down VR charts for many securities and watch thepatterns unfold for yourself. There is no technical service on theplanet that posts Positive and Negative VR! Why? Because they areproprietary to VRtrader.com!
How do you use this list? VRs are buy and sell triggers and areparticularly useful in defining lows or highs in stocks and stockindexes. Traders find them particularly useful, especially coming offmarket extremes as an indication of a change of direction. Use the VRsin conjunction with your other technical indicators and you've added aunique technical tool to your arsenal.
What is a Volume Reversal™? There are several proprietarysubtleties to the Volume Reversal ™ algorithm, but essentially aVolume Reversal ™ is a change from a Rally day to a Reaction dayaccompanied by a increase of volume or a change from a Reaction day toRally day accompanied by an increase in volume. Volume Reversals ™coming off intermediate lows or highs have greater significance inhelping to define those lows or highs and important pivot points in themarketplace. The Volume Reversals ™ presented here provide you witha unique research tool that may have trading (short-term) significance,but it also may have 'trend changing' (intermediate) significance aswell. The sector Volume Reversals ™ show where big money is possiblyaffecting an entire group of stocks. The stocks listed under the grouphave posted Volume Reversals ™ along with the group as a whole. Theindividual stocks listed have posted Volume Reversals ™ on their ownand are valid p lays as well.
To see a visual representation of Volume Reversals ™, please go ourCurrent Portfolio section and click on any recommended stock. Or, ifyou would like to get a VR Chart for a specific symbol, please clickhere. Please note that not all symbols may be currently available:
http://www.vrtrader.com/vr_platinum/GetVRChart.asp
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Volume Reversals ™ - 12/4/09
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POSITIVE VRs
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XXX CANADIAN STOCKS XXX Canadian Stocks
CTC.A CANADIAN TIRE CORP LT CL A
CWW.UN CLAYMORE S&P GLOBAL WATER
GTE.UN GRAN TIERRA ENERGY
HGD.UN HORIZONS BETAPRO GLB TU-A
HXD HORIZONS BETAPRO S&P/TSX BP A
PMT PARAMOUNT ENERGY TRUS
RIM RESEARCH IN MOTION LI
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U.S. STOCKS
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AEROSPACE/DEFENSE Aerospace/Defense Major Dive
GD General Dynamics Corp
LMT Lockheed Martin Corp
NOC Northrop Grumman Corp
AEROSPACE/DEFENSE Aerospace/Defense Products & S
CVU Cpi Aerostructures Inc
HXL Hexcel Corp
TASR Taser Intl
AUTOMOTIVE Auto Manufacturers - Major
SORL SORL Auto Parts Inc
AUTOMOTIVE Auto Parts
GNTX Gentex Corp
MPAA Motorcar Parts of America` Inc
TEN Tenneco Automotive Inc
TKS Tomkins Plc Adr
AUTOMOTIVE Recreational Vehicles
MPX Marine Products Corp
AUTOMOTIVE Trucks & Other Vehicles
FSS Federal Signal Corp
OSK Oshkosh Truck Corp
BANKING Foreign Regional Banks
FBP First Bancorp Holding Co
BANKING Money Center Banks
MTU Mitsubishi UFJ Financial Group
BANKING Regional - Mid-Atlantic Banks
AMNB American Natl Bnkshrs Va
BBT Bb&T Corp
CPBK Community Capital Corp
FCBC Fst Community Bankshares
BANKING Regional - Midwest Banks
FMER Firstmerit Corp
FRME First Merchants Corp
MBHI Midwest Banc Holdngs Inc
BANKING Regional - Northeast Banks
BARI Bancorp Rhode Island Inc
CAC Camden National Corp
EVBN Evans Bancorp Inc
BANKING Regional - Southwest Banks
MCBI Metrocorp Bancshares Inc
BANKING Savings & Loans
BCSB Bcsb Bankcorp
DCOM Dime Community Bancshare
FFHS First Franklin Corp
HARL Harleysville Svngs Fincl
COMPUTER HARDWARE Networking & Communication Dev
BBOX Black Box Corp
COMS 3com Corp
SMSC Standard Microsystems Cp
COMPUTER SOFTWARE & SERVICES Application Software
ATEA Astea International Inc
CVLT Commvault Systems Inc
EPIC Epicor Software Corp
COMPUTER SOFTWARE & SERVICES Information & Delivery Service
DNB Dun & Bradstreet Corp
DST Dst Systems Inc
COMPUTER SOFTWARE & SERVICES Information Technology Service
SFE Safeguard Scientific Inc
COMPUTER SOFTWARE & SERVICES Security Software & Services
ACTI Activcard
CHKP Check Point Sftware Tech
FIRE Sourcefire` Inc
COMPUTER SOFTWARE & SERVICES Technical & System Software
CNQR Concur Technologies Inc
VMW Vmware Inc
CONSUMER NON-DURABLES Office Supplies
ABD ACCO Brands Corp
CRRC Courier Corp
EBF Ennis Inc
CONSUMER NON-DURABLES Packaging & Containers
ATRO Astronics Corp
BLL Ball Corp
GPK Graphic Packaging Intl
PTV Pactiv Corporation
CONSUMER NON-DURABLES Paper & Paper Products
SWM Schweitzer Mauduit Internation
CONSUMER NON-DURABLES Personal Products
BTH Blyth Inc
PARL Parlux Fragrances Inc
RDEN Elizabeth Arden Inc
CONSUMER NON-DURABLES Rubber & Plastics
GT Goodyear Tire&Rubber Co
ROG Rogers Corp
TG Tredegar Corporation
WST West Pharmaceutical Svcs
CONSUMER NON-DURABLES Textile - Apparel Clothing
BEBE Bebe Stores Inc
GIL Gildan Activewear Inc A
OXM Oxford Industries Inc
DIVERSIFIED SERVICES Business/Management Services
ABCO Advisory Board
APEI American Public Education` Inc
BDMS Birner Dental Management Servi
DIVERSIFIED SERVICES Technical Services
WLDN Willdan Group
DRUGS Biotechnology
BIIB Biogen Idec Inc
EXAS Exact Sciences
MATK Martek Biosciences Corp
DRUGS Diagnostic Substances
ABAX Abaxis Inc
INFI Infinity Pharmaceuticals Inc
DRUGS Drug Manufacturers - Other
SCLN Sciclone Pharmaceutical
SUPG Supergen Inc
DRUGS Drug Related Products
NUTR Nutraceutical Intl Corp
DRUGS Drugs - Generic
SRLS Seracare Life Sciences
ELECTRONICS Diversified Electronics
BELFB Bel Fuse Inc Cl B
CHP C&D Technologies Inc
CTS Cts Corp
ELECTRONICS Semiconductor - Broad Line
IDTI Integrated Device Technology I
WEDC White Electronic Designs
ELECTRONICS Semiconductor - Integrated Cir
AMCC Applied Micro Circuits
CAMD California Micro Devices
ITLN Intellon Corporation Common St
PLXT Plx Technology Inc
ELECTRONICS Semiconductor - Specialized
ACTL Actel Corp
ACTS Actions Semiconductor Co Ltd
NVEC Nve Corp
ELECTRONICS Semiconductor Equipment & Mate
XXIA Ixia
ENERGY Independent Oil & Gas
ATPG Atp Oil & Gas
CPE Callon Petroleum Co
CRK Comstock Resources Inc
FINANCIAL SERVICES Asset Management
BAM Brookfield Asset Management In
EPHC Epoch Holding Corp
OZM Och-Ziff Capital Mgmt
FINANCIAL SERVICES Closed End Fund - Debt
BIF Boulder Growth & Inc Fund
BTF Boulder Total Return Fd
CSJ iShares Lehman 1-3 Yr Credit B
ESD Salomon Br Emerging Mkt Debt
EVG Eaton Vance Short Dur Div Inc
FPX First Trust IPOX-100 Index Fun
HCF Highland Credit Strategies Fun
FINANCIAL SERVICES Closed End Fund - Equity
AGC Advent Claymore Global Convert
BBH Biotech HOLDRS ETF
BEP S&P 500 Covered Call Fund Inc
BOM PowerShares DB Base Metals Dou
BOS Poershares Base Metals Short
CLM Cornerstone Strategic Value
CSWC Capital Southwest Corp
DBE PowerShares DB Energy Fund
DGZ DB Gold Short ETN
DPD Dow 30 Premium & Dividend Inco
DZZ DB Gold Double Short ETN
EMG SPDR DJ Wilshire Mid Cap Growt
FINANCIAL SERVICES Closed End Fund - Foreign
CAF Morgan Stanley China A Share
ETF Emerging Markt Telecm Fd
IIF Morgan Stan India Invsmt Fd
FINANCIAL SERVICES Credit Services
NNI Nelnet Inc
WRLD World Acceptance Corp
FINANCIAL SERVICES Diversified Investments
III Information Services Group Inc
SMCG Millennium India Acq Co Inc
FINANCIAL SERVICES Investment Brokerage - Nationa
KBW KBW Inc
SCHW Charles Schwab Corp
TRAD Tradestation Grp Inc
FINANCIAL SERVICES Investment Brokerage - Regiona
GFIG Gfi Group
NITE Knight Capital Group Inc Cl A
FOOD & BEVERAGE Beverages - Brewers
DEO Diageo Plc Ads
FOOD & BEVERAGE Beverages - Soft Drinks
FIZZ National Beverage Corp
PAS Pepsiamericas Inc
FOOD & BEVERAGE Beverages - Wineries & Distill
BF.A Brown-forman Corp Cl A
BF.B Brown-forman Corp Cl B
FOOD & BEVERAGE Confectioners
HSY The Hershey Co
FOOD & BEVERAGE Food - Major Diversified
ADM Archer Daniels Midland
GIS General Mills Inc
FOOD & BEVERAGE Processed & Packaged Goods
FEED Agfeed Industries Inc
GMCR Green Mountain Coffee Roasters
LNCE Lance Inc
HEALTH SERVICES Health Care Plans
CVH Coventry Health Care Inc
WLP Wellpoint Inc
HEALTH SERVICES Hospitals
MGLN Magellan Health Services Inc
TRI Triad Hospitals Inc
HEALTH SERVICES Long-Term Care Facilities
ALC Assisted Living Concepts Inc.
HEALTH SERVICES Medical Appliances & Equipment
BABY Natus Medical
EXAC Exactech Inc
INTERNET Internet Software & Services
AKAM Akamai Technologies Inc
EGOV Nic Inc
FLWS 1-800-Flowers.Com Inc A
LEISURE Lodging
CHH Choice Hotels Internat
HMIN Home Inns and Hotels Managemen
MAR Marriott Internat Inc A
LEISURE Resorts & Casinos
ASCA Ameristar Casinos Inc
BYD Boyd Gaming Corp
FLL Full House Resorts Inc
LEISURE Restaurants
BOBE Bob Evans Farms Inc
CAKE Cheesecake Factory Inc
GTIM Good Times Restaurant
MANUFACTURING Diversified Machinery
ATU Actuant Corporation
GGG Graco Inc
GRC Gorman-Rupp Co
MATERIALS & CONSTRUCTION Waste Management
WSII Waste Services Inc
MEDIA Broadcasting - Radio
EMMS Emmis Communication Cl A
ETM Entercom Communications
MEDIA Broadcasting - TV
CBS CBS Corp Class B
EVC Entravision Cmmnctns
TVL Lin Tv Corp
MEDIA CATV Systems
LCAPA Liberty Media Capital Class A
LCAPB Liberty Media Capital Class B
LNET Lodgenet Entertainment
MEDIA Entertainment - Diversified
GET Gaylord Entertainment Co
MEDIA Publishing - Books
JWB John Wiley & Sons Cl B
MEDIA Publishing - Periodicals/News
JRN Journal Communications
NYT New York Times Co The
METALS & MINING Gold
GLG Glamis Gold Ltd
XPL Solitario Resources Corp
METALS & MINING Industrial Metals & Minerals
USEG U.S. Energy Corp Wyo
METALS & MINING Steel & Iron
MTL Mechel Steel Group
NX Quanex Corp
REAL ESTATE Property Management/Developmen
TRC Tejon Ranch Co
SPECIALTY RETAIL Specialty Retail
HZO Marinemax Inc
OSTK Overstock.com Inc
PETM Petsmart Inc
SPECIALTY RETAIL Sporting Goods Stores
BGFV Big 5 Sporting Goods Corp
DKS Dick's Sporting Goods
WINA Winmark Corp
TELECOMMUNICATIONS Communication Equipment
ACTG Acacia Research Acacia Tech
ADCT ADC Telecommunications Inc
TRANSPORTATION Railroads
CP Canadian Pacific Ltd
NSC Norfolk Southern Corp
PRPX Portec Rail Products Inc
TRANSPORTATION Shipping
BHO B&H Ocean Carriers Ltd
TRANSPORTATION Trucking
MRTN Marten Transport Ltd
SAIA Saia Inc
USAK Usa Truck Inc
VTNC Vitran Corp Inc Cl A
UTILITIES Diversified Utilities
UTL Unitil Corp
UTILITIES Electric Utilities
AES Aes Corporation
UTILITIES Water Utilities
SJW Sjw Corp
WHOLESALE Building Materials Wholesale
BXC Bluelinx Holdings
IBI Interline Brands
LAWS Lawson Products Inc
WHOLESALE Computers Wholesale
INXI INX Inc
---------------------------------------------
NEGATIVE VRs
---------------------------------------------
XXX CANADIAN STOCKS XXX Canadian Stocks
AEM.UN AGNICO EAGLE MINES
AGI.UN ALAMOS GOLD, INC.
CMW.UN CLAYMORE S&P/TSX GLOB MINING
CRQ.UN CLAYMORE CANADIAN FUN
CXS COUNSEL CORPORATION
EIT.UN ENERVEST DIVERSIFIED
G.UN GOLDCORP
HAU HORIZONS BETAPRO DJ-A
HBU HORIZONS BETAPRO COME
HXU HORIZONS BETAPRO S&P/
IPL.UN INTER PIPELINE FUND C
IVN.UN IVANHOE MINES
PAA.UN PAN AMERICAN SILVER
PD.UN PRECISION DRILLING TRUST
RY.UN ROYAL BANK OF CANADA
SLW.UN SILVER WHEATON CORP
SNC SNC-LAVALIN GROUP COM
TCM.UN THOMPSON CREEK METALS CO
TD.UN TORONTO DOMINION BANK
XCB ISHARES CDN DEX ALL C
---------------------------------------------
U.S. STOCKS
---------------------------------------------
AEROSPACE/DEFENSE Aerospace/Defense Products & S
AVAV Aerovironment Inc
SIF Sifco Industries Inc
SWHC Smith & Wesson Hldg Corp
AUTOMOTIVE Trucks & Other Vehicles
WNC Wabash National Corp
BANKING Foreign Regional Banks
BFR Banco Frances Sa
BANKING Money Center Banks
BAC Bank Of America Corp
GGAL Grupo Financiero Galicia
BANKING Regional - Mid-Atlantic Banks
HMPR Hampton Roads Bankshares Inc
NKSH National Bankshares Inc
WL Wilmington Trust Corp
BANKING Regional - Midwest Banks
CMA Comerica Inc
FBMI Firstbank Corp
HBAN Huntington Bancshares
BANKING Regional - Northeast Banks
ALNC Alliance Financial Corp
ATLO Ames National Corporation
CJBK Central Jersey Bancorp
FLIC First Of Long Island Cp
BANKING Regional - Pacific Banks
BOH Bank of Hawaii Corp
NARA Nara Bancorp Inc
WABC Westamerica Bancorp
BANKING Savings & Loans
CLFC Center Financial Corp
FNFG First Niagara Finl Grp Inc New
WFD Westfield Financial Inc
CHEMICALS Agricultural Chemicals
AGU Agrium Inc
CHEMICALS Chemicals - Major Diversified
APD Air Products & Chemicals
DD Dupont E I Nemours & Co
CHEMICALS Specialty Chemicals
FSI Flexible Solutions Inc
NGBF New Generation Biofuels
OMN Omnova Solutions Inc
PENX Penford Corp
CHEMICALS Synthetics
ALB Albemarle Corp
CCC Calgon Carbon Corp
COMPUTER HARDWARE Computer Peripherals
SCMM Scm Microsystems Inc
COMPUTER HARDWARE Networking & Communication Dev
FNSR Finisar Corporation
RVBD Riverbed Technologies Inc
COMPUTER SOFTWARE & SERVICES Application Software
PRGS Progress Software Corp
COMPUTER SOFTWARE & SERVICES Business Software & Services
CTSH Cognizant Tech Sol Cp A
IHS IHS Inc
LFT Longtop Financial Technologies
DIVERSIFIED SERVICES Staffing & Outsourcing Service
AHS Amn Healthcare
DRUGS Biotechnology
EBS Emergent BioSolutions Inc
ILMN Illumina Inc
MRX Medicis Pharmaceutical A
NLTX Nile Therapeutics Inc
DRUGS Diagnostic Substances
ILI Interleukin Genetics Inc
MYGN Myriad Genetics Inc
DRUGS Drug Delivery
HSP Hospira Inc
DRUGS Drug Manufacturers - Major
CELG Celgene Corp
PFE Pfizer Inc
DRUGS Drug Manufacturers - Other
CEPH Cephalon Inc
IMGN Immunogen Inc
NGSX NeurogesX` Inc
RDY Dr Reddys Labs
SVA Sinovac Biotech Ltd
DRUGS Drug Related Products
PBH Prestige Brands Holdings
ELECTRONICS Diversified Electronics
CNLG Conolog Corporation
FEIC Fei Company
JST Jinpan Internat Ltd
OESX Orion Energy Systems Inc
ELECTRONICS Scientific & Technical Instrum
AMOT Allied Motion Tech Inc
FINANCIAL SERVICES Asset Management
AMG Affiliated Managers Grp
FBCM Fbr Capital Markets Corp
LAZ Lazard Ltd
FINANCIAL SERVICES Closed End Fund - Debt
BLE Blackrock Muni Inc Trust Ii
BNJ Blackrock Nj Municipal Inc Tr
BPK Blackrock Muni 2018 Trm Tr
BYM Blackrock Insured Muni Income
CIM Cim High Yield Sec Sbi
FINANCIAL SERVICES Closed End Fund - Equity
BAL iPath Dow Jones-AIG Cotton Tot
DBB PowerShares DB Base Metals Fun
DGL PowerShares DB Gold Fund
DGP DB Gold Double Long ETN
DUC Duff & Phelps Util & Cbt
DVF Diversified Incm Strat Port
EPS WisdomTree Earnings 500 Fd
FINANCIAL SERVICES Credit Services
COF Capital One Financial Cp
LOAN Dag Media Inc
FINANCIAL SERVICES Diversified Investments
CODI Compass Diversified Trust
FYR Sapphire Indus Corp
TPL Texas Pacific Land Trust
FINANCIAL SERVICES Investment Brokerage - Nationa
IAI iShares DJ Broker Dealer Index
FOOD & BEVERAGE Beverages - Soft Drinks
AKOB Embotereva Cip (france)
FOOD & BEVERAGE Confectioners
MFW M&F Worldwide Corp
FOOD & BEVERAGE Food - Major Diversified
UL Unilever Plc
UN Unilever N.V.
FOOD & BEVERAGE Meat Products
SAFM Sanderson Farms Inc
FOOD & BEVERAGE Processed & Packaged Goods
BGS B&G Foods Inc.
DMND Diamond Foods Inc
PEET Peet's Coffee & Tea
INSURANCE Insurance Brokers
WSH Willis Group Holdings Limited
INSURANCE Life Insurance
AXA Axa Ads
LNC Lincoln National Corp
INTERNET Internet Software & Services
ASIA Asiainfo Holdings Inc
MDRX Allscripts Healthcare Solution
LEISURE General Entertainment
CUK Carnival Plc
LEISURE Resorts & Casinos
CTRP Ctrip.com International
LEISURE Restaurants
PZZA Papa Johns Internat Inc
RICK Rick's Caberet Intl
MANUFACTURING Diversified Machinery
AIXG Aixtron Aktiengesellschaft Ads
CYD China Yuchai Int Ltd
DRC Dresser-Rand Group Inc
MANUFACTURING Industrial Electrical Equipmen
ABB Abb Ltd
UQM Uqm Technologies Inc
MANUFACTURING Industrial Equipment & Compone
MWA Mueller Water Products Inc
MATERIALS & CONSTRUCTION Cement
RMX Ready Mix Inc
MATERIALS & CONSTRUCTION General Building Materials
VAL Valspar Corporationthe
MATERIALS & CONSTRUCTION Lumber
LPX Louisiana-Pacific Corp
MATERIALS & CONSTRUCTION Residential Construction
PHM Pulte Homes Inc
MEDIA Advertising Services
OMC Omnicom Group Inc
MEDIA Broadcasting - TV
FSCI Fisher Comms
MEDIA Entertainment - Diversified
VIA Viacom Inc Cl A
MEDIA Marketing Services
CCO Clear Channel Outdoor Holdings
LAMR Lamar Advertising Co A
MEDIA Movie Production
CNK Cinemark Holdings Inc
RGC Regal Entertainment Grp
METALS & MINING Aluminum
CENX Century Aluminum Company
METALS & MINING Gold
EGI Entree Gold Inc
NG Novagold Resources Inc
THM International Tower Hill Mines
METALS & MINING Industrial Metals & Minerals
JRCC James River Coal Company
PLG Platinum Group Metal
TC Thompson Creek Metals Company
TIE Titanium Metals Corp New
USU Usec Inc
METALS & MINING Silver
TRE Tan Range Exploration Inc
METALS & MINING Steel & Iron
SID Companhia Siderurgica Na
REAL ESTATE Mortgage Investment
HTS Hatteras Financial Corp
NLY Annaly Mortgage Mngt Inc
REAL ESTATE Property Management/Developmen
MIM Mi Developments Inc
ZIPR Ziprealty Inc
REAL ESTATE REIT - Diversified/Industrial
CDR Cedar Shopping Centers Inc
OLP One Liberty Properties
REAL ESTATE REIT - Hotel/Motel
SHO Sunstone Hotel Investors Inc
REAL ESTATE REIT - Residential
AGNC American Capital Agency Corp.
REAL ESTATE REIT - Retail
IRC Inland Real Estate Corp
RETAIL Auto Parts Stores
TA Travelcenters of America LLC
SPECIALTY RETAIL Apparel Stores
BCF Burlington Coat Fac Whse
SPECIALTY RETAIL Specialty Retail
NRGP Inergy Holdings LP
SPECIALTY RETAIL Sporting Goods Stores
DRJ Dreams Inc
TELECOMMUNICATIONS Communication Equipment
ENWV Endwave Corporation
TNS Tns Inc
WRLS Telular Corp
TELECOMMUNICATIONS Diversified Communication Serv
PCTI Pc-Tel Incorporated
TELECOMMUNICATIONS Processing Systems & Products
AV Avaya Inc
TELECOMMUNICATIONS Telecom Services - Foreign
CHA China Telecom
NTT Nippon Tel & Tel Ads
PT Portugal Telecom Sa
TELECOMMUNICATIONS Wireless Communications
DCM Ntt De Co Mo Adr
KNOL Knology Inc
PCS Metropcs Communications Inc
TRANSPORTATION Major Airlines
TAM TAM S.A. ADR
TRANSPORTATION Railroads
GSH Guangshen Railway Co
PWX Providence & Worcestr Rr
TRANSPORTATION Regional Airlines
LFL Lan Chile Sa
TRANSPORTATION Shipping
DAC Danaos Corp
DSX Diana Shipping Inc
UTILITIES Foreign Utilities
VE Veolia Environment
UTILITIES Gas Utilities
NWN Northwest Natural Gas Co
PNY Piedmont Natrl Gas Inc
------------------------------------
Leibovit Files
Monday, December 07, 2009
How Real Is The Rally In The Dollar? And, Does It Really Mean AHill Of Beans Anyway?
--------------------------------------------
UPCOMING ECONOMIC RELEASES/MARKET EVENTS
DECEMBER 7 - 11, 2009:
---------------------------------------------
MONDAY, December 7, 2009:
4-Week Bill Announcement
11:00 AM ET
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET
Federal Reserve Chairman Ben Bernanke speech to the Economic Club ofWashington, D.C.
12:00 PM ET
Consumer Credit
3:00 PM ET
---------------------------------------------
TUESDAY, December 8, 2009:
ICSC-Goldman Store Sales
7:45 AM ET
Redbook
8:55 AM ET
4-Week Bill Auction
11:30 AM ET
3-Yr Note Auction
1:00 PM ET
---------------------------------------------
WEDENSDAY, December 9, 2009:
MBA Purchase Applications
7:00 AM ET
Wholesale Trade
10:00 AM ET
EIA Petroleum Status Report
10:30 AM ET
10-Yr Note Auction
1:00 PM ET
---------------------------------------------
THURSDAY, December 10, 2009:
International Trade
8:30 AM ET
Jobless Claims
8:30 AM ET
RBC CASH Index
9:00 AM ET
Quarterly Services Survey
10:00 AM ET
EIA Natural Gas Report
10:30 AM ET
3-Month Bill Announcement
11:00 AM ET
6-Month Bill Announcement
11:00 AM ET
52-Week Bill Announcement
11:00 AM ET
Federal Reserve Gov. Elizabeth Duke speech to Chicago Fed's mortgageforeclosure policy conference in Chicago.
12:45 PM ET
30-Yr Bond Auction
1:00 PM ET
Treasury Budget
2:00 PM ET
Fed Balance Sheet
4:30 PM ET
Money Supply
4:30 PM ET
---------------------------------------------
FRIDAY, December 11, 2009:
Retail Sales
8:30 AM ET
Import and Export Prices
8:30 AM ET
Consumer Sentiment
9:55 AM ET
Business Inventories
10:00 AM ET
---------------------------------------------
STOCKS - ACTION alert -
A much better than expected monthly jobs number juiced the marketearly before sellers made a game of it. Early gains gave way to choppy,two sided trade as the indices ended up in the green for the session.The Dow was up 22.75 at 10388.90, the S&P 500 was up 6.06 at1105.98, and the Nasdaq Composite was up 21.21 at 2194.35. Volumeincreased over Thursday and breadth was strong.
Again, like a cockroach on the counter, the U.S. Dollar mysteriouslybegins to rally, Gold gets whacked and though stocks saw new bullmarket highs early in the session, they gave way a bit into the close.
We have had so many false rallies in the U.S. Dollar Index, it'shard to believe this is the BIG ONE that will supposedly destroy theGold market and the equity market. Let it come. Bring it on! But, weall know where it's headed. There is also the possibility that whathappens with the U.S. Dollar will have progressively diminishing impacton Gold and equities. We'll have to wait and let the market judge.
Gold was extended and needed correct. That's all that happening.Stock indexes saw new bull market highs on Friday (even though they didback-off during the day). The key and 'leading' Dow TransportationAverage broke out to new bull market highs on heavy upside volumegenerating new 'higher' Volume Reversal ™ projections.
From day one I believed and still believe all we're seeing is asuper bear-market rally in stocks. Gold is different story. Themult-year rally has a long, long way to go. Even if stocks areexperiencing a super bear-market rally, can you tell me that rally isOVER or perhaps just reaching a point of rest? My thinking is that, atworst, we correct from here because of 'fear' regrading the impact of arising U.S. Dollar (or some other inane reason) and we temporarilyshake out all the bulls and embolden the bears. Overall, I do notcurrent see the end of the bear-market rally. It is too important toBarrack Hussein Obama and his cohorts at the Plunge Protection Team tokeep this market alive and well. It is one of the only things they havegoing for themselves.
A double-dip recession? Yes, I believe that will occur, but will ithappen now because so many people are warning and talking about it? Orperhaps will it occur in 2011?
One of the keys of my intermediate cyclical analysis to help answerthis question is the completion of my 2010 Annual Forecast Model. Thatwill be done in January. For the time being we're in limbo.
Meanwhile, put up a weekly chart of the Dow Industials or S&P500 and tell me what you see. If that's a bearish pattern, I need tostart smoking weed. Yes, a bearish pattern COULD develop and myresponse is WAIT until it does!
In economic news, November nonfarm payrolls fell by 11,000 vs.consensus of -125,000. Unemployment came in at 10.0% vs. consensus of10.2%. The average work week came in at 33.2 hours vs. consensus of33.1 hours. Average hourly earnings for November increased 0.1%month-over-month vs. consensus of 0.2%.
The pre-market futures were flat up until the November payroll datawas released at which point things really got busy. The Dow shot up toa gain of 150 points before sellers stepped up and pushed the Dow downto a 54 point loss. Buyers then re-emerged and the rest of the sessionwas a see-saw affair.
Small caps put in an impressive performance, advancing 2.38% on thesession. More importantly, the Dow Transports posted a solid gain of2.17% while breaking out to new recovery highs which bodes well for thecontinuation of this rally.
Homebuilders (XHB +2.02%) snapped back somewhat Friday, posting apositive VR. Real estate stocks also fared well as IYR gained 2.69% onheavy volume.
Risk was flowing back into the market as evidenced by the abovementioned outperformance of small caps along with further gains by highyield bonds (HYG +0.68%) and semiconductors (SMH +1.38%). SMH finallyposted above average volume in this rally phase that started November27.
Financials also were a leading participant Friday as XLF gained1.88% on very heavy volume. A good portion of the attention there wascentered around Bank of America as they announced that they priced anoffering at $15.00 per common equivalent security. The offering isexpected to generate some $19.3 billion to help the bank repay its TARPloan.
The dollar was very strong Friday as now the question making therounds is when will the Fed begin draining excess liquidity from thefinancial system (see below). It may be a tad premature for thatargument, but the effect on commodities and bonds was unmistakable.
Energy (XLE -0.73%) and materials (XLB -1.09%) were down Friday, butnot as bad as gold (GLD -4.17%) and silver (SLV -2.52%). It appearsthat money was leaving the relative safety of gold and moving intoequities, most likely small caps.
Gold miners (GDX) got absolutely waxed, dropping 5.31%.
The market has rallied for the last eight months on largely badnews. That's called the wall of worry. Now, the market gets good newsand had trouble holding on to its rally. This is often called "buy therumor, sell the news."
--------------------------------------------
DOW TRANSPORTS - ACTION alert -
Transportation stocks surged after a much better than expectedemployment report, good news from the airlines, and lower oil prices.The Dow Jones Transportation Average jumped 87.22 or 2.17% to 4101.76.
Airlines surged (^XAL +4.33%) as well on Friday. Late Thursday, UAL(UAUA +5.42%) said consolidated traffic increased 1.8% in November to8.63 billion revenue passenger miles, equal to one passenger flown onemile. Seat capacity declined 2.7% to 10.75 billion available seatmiles, helping to lift its load factor to 80.2% from 76.7%. AmericanAirlines (AMR +7.28%) reported its November traffic dipped 0.5% whilecapacity fell 4.2%. That was enough to lift the carrier's load factorto 79.6% from 76.6%. US Airways' (LCC +9.11%) November mainline trafficfell 1.8% while capacity declined 1.3%. Load factor fell 0.4 points to77.3%. JetBlue Airways (JBLU +2.28%) said Friday that its Novembertraffic rose 7.7% to 2.05 billion revenue passenger miles from 1.9billion a year ago. November capacity increased 5.3% to 2.64 billionavailable seat miles from the year ago period. Load factor, or thepercentage of seats filled with passengers, in November rose to 77.4%from 75.7% in the previ ous year.
What does a strong Dow Transportation Average indicate? It indicatesa strenghening economy or a least a strong perception that the economyis strenghening. More business travelers, more shipments ofmerchandise, etc. Ask yourself why did Warren Buffet buy BurlingtonNorthern?
---------------------------------------------
GOLD and METALS - ACTION alert -
Precious metals suffered their first big losses since the beginningof November as the Dollar rallied and traders close out their flight tosafety trades. Gold was down 46.10 to 1161.40 but had been as low as1147.40. Silver fell 0.34 to 18.47. Platinum dropped 43 to 1439.Palladium declined 9 to 372. Coming so close to December 7, was itanalogous to that historic 'day of infamy' from 1941? If you were long,I suppose it was.
Negative Volume Reversals ™ in the Gold shares support the view thatwe're probably headed lower down toward that 1070 level in spot gold.If 1070 doesn't hold, then we have some potentially bigger problems,but let's address that at a later time. Meanwhile, the break could bephony, just as the break we saw on Friday, November 27 when the Dubai'hoax' struct the thin financial markets like a 'creampuff hitting afan'.
VR Gold Leter subscribers were told to sell a week ago Monday and arenow ahead for doing so. We are awaiting either a breakout into newhighs, a pullback to support, and/or the formation of a Positive VolumeReversal ™ to jump back on board.
This has nothing to do with the physical gold you may have stuffedin your mattress or in your safe deposit box. That needs to be helduntil 'the fat lady sings'.
Copper held up much better as traders hope the improved economy willboost demand. March copper futures fell 0.0075 to 3.2375.
The VR Gold Letter is available to Platinum subscribers for only anadditional $50 per month and to Silver subscribers for only $70 permonth. Email me at mark.vrtrader@gmail.com to sign up today!
---------------------------------------------
BONDS - ACTION alert -
Treasuries got hit hard by the strong employment report andincreased odds of a Fed rate hike next year. The long bond futuredeclined 1 12/32 to 118 26/32.
Two-year note yields jumped 10 basis points to 0.83%, the biggestincrease in six months. Yields on 10-year notes increased 9 basispoints to 3.47%, the highest seen since mid-November. For the week,10-year yields are up from 3.21% last Friday, the biggest weeklyincrease since early August. Two-year yields have risen from 0.70% lastFriday, the first weekly increase in five.
Interest-rate futures indicated traders raised bets that the FederalReserve will increase its target rate by mid-2010 on Friday after theLabor Department said the economy shed far fewer jobs than predictedlast month and the unemployment rate unexpectedly declined. The August2010 fed funds contract indicated traders expect rates to rise to 0.52%by then, compared to a 0.34% rate a week ago and from the current rangeof zero to 0.25%. Futures for December 2010 show traders expect thebenchmark rate to be 0.93% by then, compared to 0.81% on Thursday. TheFed typically changes rates in 0.25-point increments, but futurescontracts settle at the average rate fed funds traded at for the month.
We have to ask ourselves is the tail wagging the dog? Are bondsdeclining because the U.S. Dollar Index mysteriously began to rally oris the U.S. Dollar Index rallying anticipating higher interest rates.
There is no way this economy can support higher interest rates orfor that matter higher taxes - either of which will certainly plunge usinto something worse than a 'double-dip'. If the higher rates and taxesdo come, I hope you have your ticket ready to leave the country andmove to business friendly location where at least you can make themoney to pay those taxes and higher rates. How about Brazil?
---------------------------------------------
CRUDE OIL - ACTION alert -
Oil tried to rally on the good economic news, but gave in to thepressure of the sharp rally in the Dollar. As a result, crude oilsettled down 0.99 at 75.47. Oil remains trapped in its trading rangebetween 75 and 82 (though it briefly dropped to 72 before getting backinto its trading range).
Natural gas gained 0.127 to 4.586.
---------------------------------------------
US DOLLAR - ACTION alert -
The US Dollar Index posted its largest gain since June after asurprisingly shallow drop in U.S. jobs raised expectations of astronger U.S. recovery that could prompt the Federal Reserve to hikerates earlier than some had forecast. The US Dollar Index was up 1.116to 75.916.
Where can this bugger rally? I have no idea? And, frankly, I'mdisinterested in even thinking about it. When you show me a steady andlong-standing uptrend (the inverse of what we seen seen for most ofthis decade), then I will look to buy the U.S. Dollar Index on apullback.
Stepping back and looking at a weekly chart of the U.S. Dollar, Ionly see a bear market!
---------------------------------------------
URANIUM - ACTION alert
Ux U3O8 Prices* (Uranium)
November 30, 2009 Posting
Spot: $45.50 UP 2.50. Bull market high in the cash market was $138.00.
The December Uranium Futures closed at $44.50. The current bearmarket low is $42.00. June 13, 2007 hosted the bull market high of154.95. Major support lies well under the market at $36.00.
The spot price of uranium quadrupled from 2004 to 2007. When it hit$138/lb, uranium became a certified bubble, which has now burst. Forinvestors, this is the best possible news, of course. Nuclear power isthe ultimate alternative fuel, as the French will tell you. You get allthe power, 84% cheaper than coal, with none of the politics of roguenations and none of the greenhouse emissions.
A friend of mine in the mining business told me (probably old news)that Denison Mines had closed a couple of its uranium mines due tocurrent market conditions relative to uranium. To my way of thinkingthis is a sure sign we're probably at or near the low for uranium.
---------------------------------------------
ECONOMIC NEWS:
The unemployment rate unexpectedly fell to 10 percent in November asemployers cut the smallest number of jobs since the recession began.The better-than-expected job figures are a rare note of encouragingnews for the labor market. The economy shed 11,000 jobs last month, animprovement from October's revised total of 111,000, the LaborDepartment said Friday. That's much better than the 130,000 Wall Streeteconomists expected. The unemployment rate fell to 10 percent from 10.2percent in October, where economists expected it to remain. Ifpart-time workers who want full time jobs and laid off workers who havegiven up looking for work are included, the so-called underemploymentrate also fell, to 17.2 percent from 17.5 percent in October.
There was other positive news in the report. The average work weekrose to 33.2 hours, from a record low of 33 hours. Economists expectemployers will increase hours for their current workers before hiringnew ones. And 159,000 fewer jobs were lost in September and Octoberthan first reported. Average weekly earnings jumped $4.08 to $622.17,the report said. Temporary help services added 52,000 jobs, the fourthstraight increase. That's also positive news, as companies are likelyto hire temporary workers before adding permanent ones.
Orders for U.S. factory goods expanded in October for the sixthmonth out of the last seven, the Commerce Department reported Friday.Factory orders increased 0.6% in October, above the flat readingexpected by economists. Analysts had expected a weak report after anadvanced report last week that orders for durable-goods decreased 0.6%in October. But the more complete data showed that overall factoryorders rose led by 1.6% jump in nondurable-goods orders. Core capitalequipment orders fell 3.4% in October, revised down from a 2.9% fallestimated a week ago, the government said. Inventories rose 0.4% inOctober, the first gain following 13 straight declines.
CORPORATE NEWS:
Bank of America said late Thursday that it raised more than $19billion selling new securities to help the giant lender wean itselffrom government support. Bank of America announced it priced anoffering of 1.286 billion common equivalent securities at $15 each.That will raise roughly $19.29 billion. The company said it will usethe money, together with existing funds, to repurchase the preferredstock it sold to the Treasury Department as part of the Troubled AssetRelief Program, or TARP.
As a result, trading in Bank of America topped more than 1 billionshares on Friday. The stock has seen daily trading volume in excess of1 billion shares twice before -- both sessions were in the spring of2009.
BAC rallied 3.3% on Friday.
---------------------------------------------
The Annual Forecast Model (VR Forecaster Report) is now posted at thewebsite - so sign up today! Remember, there is no price too high forgood information! Don't make the mistake of not subscribing. Lastyear's AFM warned in January we were entering a multi-month bearmarket! Gold-bug? Check on the AFM for Gold!
https://www.vrtrader.com/subscribe/index.asp
---------------------------------------------
---------------------------------------------
TIMER DIGEST signals for Stocks, Gold and Bonds are available toPlatinum subscribers on the Home Page.
TIMER DIGEST has named Mark Leibovit of VRTrader.com 'TIMER OF THEYEAR' for 2006 and was named the #2 Timer for 2007.
More kudos - Mark Leibovit was named the #1 Intermediate MarketTimer for the 10 year period ending in 2007; the #1 Intermediate MarketTimer for the 3 year period ending in 2007; the #1 Intermediate MarketTimer for the 8 year period ending in 2007; and the #8 IntermediateMarket Timer for the 5 year period ending in 2007. NO OTHER ANALYSTSURVEYED APPEARED IN ALL FOUR CATEGORIES FOR INTERMEDIATE MARKET TIMINGAS PUBLISHED IN TIMER DIGEST JANUARY 28, 2008!
Mark Leibovit was also named the #1 Gold Timer for the one-yearperiod ending March 25, 2008. Most recently, from: 12/26/08 to:03/27/2009, he is ranked in the #5 position for 3 month return.
Current TIMER DIGEST signals for stocks:
'Buy' signal March 4, 2009.
'Sell' signal May 27, 2009.
'Buy' signal July 21, 2009.
'Sell' signal September 2, 2009.
'Buy' signal September 3, 2009.
'Sell' signal October 15, 2009.
'Buy' signal November 13, 2009.
'Sell' signal November 30, 2009.
'Buy' signal December 1, 2009.
Current TIMER DIGEST signals for Gold:
'Sell' signal November 30, 2009.
'Buy' signal December 1, 2009.
Mark Leibovit is currently ranked the #2 Market Timer for the 3month period ending October 23, 2009.
---------------------------------------------
DAILY VR LIST:
Editors note: The Daily VR List here is abbreviated with the fulllist only available to Platinum subscribers by clicking on 'Current VRList' on the Home Page of VRtrader.com. Canadian shares are listed atthe bottom of each section with the title: 'XXX CANADIAN STOCKS XXX'.
Silver subscribers who find this useful should upgrade to Platinumwhere you can pull down VR charts for many securities and watch thepatterns unfold for yourself. There is no technical service on theplanet that posts Positive and Negative VR! Why? Because they areproprietary to VRtrader.com!
How do you use this list? VRs are buy and sell triggers and areparticularly useful in defining lows or highs in stocks and stockindexes. Traders find them particularly useful, especially coming offmarket extremes as an indication of a change of direction. Use the VRsin conjunction with your other technical indicators and you've added aunique technical tool to your arsenal.
What is a Volume Reversal™? There are several proprietarysubtleties to the Volume Reversal ™ algorithm, but essentially aVolume Reversal ™ is a change from a Rally day to a Reaction dayaccompanied by a increase of volume or a change from a Reaction day toRally day accompanied by an increase in volume. Volume Reversals ™coming off intermediate lows or highs have greater significance inhelping to define those lows or highs and important pivot points in themarketplace. The Volume Reversals ™ presented here provide you witha unique research tool that may have trading (short-term) significance,but it also may have 'trend changing' (intermediate) significance aswell. The sector Volume Reversals ™ show where big money is possiblyaffecting an entire group of stocks. The stocks listed under the grouphave posted Volume Reversals ™ along with the group as a whole. Theindividual stocks listed have posted Volume Reversals ™ on their ownand are valid p lays as well.
To see a visual representation of Volume Reversals ™, please go ourCurrent Portfolio section and click on any recommended stock. Or, ifyou would like to get a VR Chart for a specific symbol, please clickhere. Please note that not all symbols may be currently available:
http://www.vrtrader.com/vr_platinum/GetVRChart.asp
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Volume Reversals ™ - 12/4/09
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POSITIVE VRs
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XXX CANADIAN STOCKS XXX Canadian Stocks
CTC.A CANADIAN TIRE CORP LT CL A
CWW.UN CLAYMORE S&P GLOBAL WATER
GTE.UN GRAN TIERRA ENERGY
HGD.UN HORIZONS BETAPRO GLB TU-A
HXD HORIZONS BETAPRO S&P/TSX BP A
PMT PARAMOUNT ENERGY TRUS
RIM RESEARCH IN MOTION LI
---------------------------------------------
U.S. STOCKS
---------------------------------------------
AEROSPACE/DEFENSE Aerospace/Defense Major Dive
GD General Dynamics Corp
LMT Lockheed Martin Corp
NOC Northrop Grumman Corp
AEROSPACE/DEFENSE Aerospace/Defense Products & S
CVU Cpi Aerostructures Inc
HXL Hexcel Corp
TASR Taser Intl
AUTOMOTIVE Auto Manufacturers - Major
SORL SORL Auto Parts Inc
AUTOMOTIVE Auto Parts
GNTX Gentex Corp
MPAA Motorcar Parts of America` Inc
TEN Tenneco Automotive Inc
TKS Tomkins Plc Adr
AUTOMOTIVE Recreational Vehicles
MPX Marine Products Corp
AUTOMOTIVE Trucks & Other Vehicles
FSS Federal Signal Corp
OSK Oshkosh Truck Corp
BANKING Foreign Regional Banks
FBP First Bancorp Holding Co
BANKING Money Center Banks
MTU Mitsubishi UFJ Financial Group
BANKING Regional - Mid-Atlantic Banks
AMNB American Natl Bnkshrs Va
BBT Bb&T Corp
CPBK Community Capital Corp
FCBC Fst Community Bankshares
BANKING Regional - Midwest Banks
FMER Firstmerit Corp
FRME First Merchants Corp
MBHI Midwest Banc Holdngs Inc
BANKING Regional - Northeast Banks
BARI Bancorp Rhode Island Inc
CAC Camden National Corp
EVBN Evans Bancorp Inc
BANKING Regional - Southwest Banks
MCBI Metrocorp Bancshares Inc
BANKING Savings & Loans
BCSB Bcsb Bankcorp
DCOM Dime Community Bancshare
FFHS First Franklin Corp
HARL Harleysville Svngs Fincl
COMPUTER HARDWARE Networking & Communication Dev
BBOX Black Box Corp
COMS 3com Corp
SMSC Standard Microsystems Cp
COMPUTER SOFTWARE & SERVICES Application Software
ATEA Astea International Inc
CVLT Commvault Systems Inc
EPIC Epicor Software Corp
COMPUTER SOFTWARE & SERVICES Information & Delivery Service
DNB Dun & Bradstreet Corp
DST Dst Systems Inc
COMPUTER SOFTWARE & SERVICES Information Technology Service
SFE Safeguard Scientific Inc
COMPUTER SOFTWARE & SERVICES Security Software & Services
ACTI Activcard
CHKP Check Point Sftware Tech
FIRE Sourcefire` Inc
COMPUTER SOFTWARE & SERVICES Technical & System Software
CNQR Concur Technologies Inc
VMW Vmware Inc
CONSUMER NON-DURABLES Office Supplies
ABD ACCO Brands Corp
CRRC Courier Corp
EBF Ennis Inc
CONSUMER NON-DURABLES Packaging & Containers
ATRO Astronics Corp
BLL Ball Corp
GPK Graphic Packaging Intl
PTV Pactiv Corporation
CONSUMER NON-DURABLES Paper & Paper Products
SWM Schweitzer Mauduit Internation
CONSUMER NON-DURABLES Personal Products
BTH Blyth Inc
PARL Parlux Fragrances Inc
RDEN Elizabeth Arden Inc
CONSUMER NON-DURABLES Rubber & Plastics
GT Goodyear Tire&Rubber Co
ROG Rogers Corp
TG Tredegar Corporation
WST West Pharmaceutical Svcs
CONSUMER NON-DURABLES Textile - Apparel Clothing
BEBE Bebe Stores Inc
GIL Gildan Activewear Inc A
OXM Oxford Industries Inc
DIVERSIFIED SERVICES Business/Management Services
ABCO Advisory Board
APEI American Public Education` Inc
BDMS Birner Dental Management Servi
DIVERSIFIED SERVICES Technical Services
WLDN Willdan Group
DRUGS Biotechnology
BIIB Biogen Idec Inc
EXAS Exact Sciences
MATK Martek Biosciences Corp
DRUGS Diagnostic Substances
ABAX Abaxis Inc
INFI Infinity Pharmaceuticals Inc
DRUGS Drug Manufacturers - Other
SCLN Sciclone Pharmaceutical
SUPG Supergen Inc
DRUGS Drug Related Products
NUTR Nutraceutical Intl Corp
DRUGS Drugs - Generic
SRLS Seracare Life Sciences
ELECTRONICS Diversified Electronics
BELFB Bel Fuse Inc Cl B
CHP C&D Technologies Inc
CTS Cts Corp
ELECTRONICS Semiconductor - Broad Line
IDTI Integrated Device Technology I
WEDC White Electronic Designs
ELECTRONICS Semiconductor - Integrated Cir
AMCC Applied Micro Circuits
CAMD California Micro Devices
ITLN Intellon Corporation Common St
PLXT Plx Technology Inc
ELECTRONICS Semiconductor - Specialized
ACTL Actel Corp
ACTS Actions Semiconductor Co Ltd
NVEC Nve Corp
ELECTRONICS Semiconductor Equipment & Mate
XXIA Ixia
ENERGY Independent Oil & Gas
ATPG Atp Oil & Gas
CPE Callon Petroleum Co
CRK Comstock Resources Inc
FINANCIAL SERVICES Asset Management
BAM Brookfield Asset Management In
EPHC Epoch Holding Corp
OZM Och-Ziff Capital Mgmt
FINANCIAL SERVICES Closed End Fund - Debt
BIF Boulder Growth & Inc Fund
BTF Boulder Total Return Fd
CSJ iShares Lehman 1-3 Yr Credit B
ESD Salomon Br Emerging Mkt Debt
EVG Eaton Vance Short Dur Div Inc
FPX First Trust IPOX-100 Index Fun
HCF Highland Credit Strategies Fun
FINANCIAL SERVICES Closed End Fund - Equity
AGC Advent Claymore Global Convert
BBH Biotech HOLDRS ETF
BEP S&P 500 Covered Call Fund Inc
BOM PowerShares DB Base Metals Dou
BOS Poershares Base Metals Short
CLM Cornerstone Strategic Value
CSWC Capital Southwest Corp
DBE PowerShares DB Energy Fund
DGZ DB Gold Short ETN
DPD Dow 30 Premium & Dividend Inco
DZZ DB Gold Double Short ETN
EMG SPDR DJ Wilshire Mid Cap Growt
FINANCIAL SERVICES Closed End Fund - Foreign
CAF Morgan Stanley China A Share
ETF Emerging Markt Telecm Fd
IIF Morgan Stan India Invsmt Fd
FINANCIAL SERVICES Credit Services
NNI Nelnet Inc
WRLD World Acceptance Corp
FINANCIAL SERVICES Diversified Investments
III Information Services Group Inc
SMCG Millennium India Acq Co Inc
FINANCIAL SERVICES Investment Brokerage - Nationa
KBW KBW Inc
SCHW Charles Schwab Corp
TRAD Tradestation Grp Inc
FINANCIAL SERVICES Investment Brokerage - Regiona
GFIG Gfi Group
NITE Knight Capital Group Inc Cl A
FOOD & BEVERAGE Beverages - Brewers
DEO Diageo Plc Ads
FOOD & BEVERAGE Beverages - Soft Drinks
FIZZ National Beverage Corp
PAS Pepsiamericas Inc
FOOD & BEVERAGE Beverages - Wineries & Distill
BF.A Brown-forman Corp Cl A
BF.B Brown-forman Corp Cl B
FOOD & BEVERAGE Confectioners
HSY The Hershey Co
FOOD & BEVERAGE Food - Major Diversified
ADM Archer Daniels Midland
GIS General Mills Inc
FOOD & BEVERAGE Processed & Packaged Goods
FEED Agfeed Industries Inc
GMCR Green Mountain Coffee Roasters
LNCE Lance Inc
HEALTH SERVICES Health Care Plans
CVH Coventry Health Care Inc
WLP Wellpoint Inc
HEALTH SERVICES Hospitals
MGLN Magellan Health Services Inc
TRI Triad Hospitals Inc
HEALTH SERVICES Long-Term Care Facilities
ALC Assisted Living Concepts Inc.
HEALTH SERVICES Medical Appliances & Equipment
BABY Natus Medical
EXAC Exactech Inc
INTERNET Internet Software & Services
AKAM Akamai Technologies Inc
EGOV Nic Inc
FLWS 1-800-Flowers.Com Inc A
LEISURE Lodging
CHH Choice Hotels Internat
HMIN Home Inns and Hotels Managemen
MAR Marriott Internat Inc A
LEISURE Resorts & Casinos
ASCA Ameristar Casinos Inc
BYD Boyd Gaming Corp
FLL Full House Resorts Inc
LEISURE Restaurants
BOBE Bob Evans Farms Inc
CAKE Cheesecake Factory Inc
GTIM Good Times Restaurant
MANUFACTURING Diversified Machinery
ATU Actuant Corporation
GGG Graco Inc
GRC Gorman-Rupp Co
MATERIALS & CONSTRUCTION Waste Management
WSII Waste Services Inc
MEDIA Broadcasting - Radio
EMMS Emmis Communication Cl A
ETM Entercom Communications
MEDIA Broadcasting - TV
CBS CBS Corp Class B
EVC Entravision Cmmnctns
TVL Lin Tv Corp
MEDIA CATV Systems
LCAPA Liberty Media Capital Class A
LCAPB Liberty Media Capital Class B
LNET Lodgenet Entertainment
MEDIA Entertainment - Diversified
GET Gaylord Entertainment Co
MEDIA Publishing - Books
JWB John Wiley & Sons Cl B
MEDIA Publishing - Periodicals/News
JRN Journal Communications
NYT New York Times Co The
METALS & MINING Gold
GLG Glamis Gold Ltd
XPL Solitario Resources Corp
METALS & MINING Industrial Metals & Minerals
USEG U.S. Energy Corp Wyo
METALS & MINING Steel & Iron
MTL Mechel Steel Group
NX Quanex Corp
REAL ESTATE Property Management/Developmen
TRC Tejon Ranch Co
SPECIALTY RETAIL Specialty Retail
HZO Marinemax Inc
OSTK Overstock.com Inc
PETM Petsmart Inc
SPECIALTY RETAIL Sporting Goods Stores
BGFV Big 5 Sporting Goods Corp
DKS Dick's Sporting Goods
WINA Winmark Corp
TELECOMMUNICATIONS Communication Equipment
ACTG Acacia Research Acacia Tech
ADCT ADC Telecommunications Inc
TRANSPORTATION Railroads
CP Canadian Pacific Ltd
NSC Norfolk Southern Corp
PRPX Portec Rail Products Inc
TRANSPORTATION Shipping
BHO B&H Ocean Carriers Ltd
TRANSPORTATION Trucking
MRTN Marten Transport Ltd
SAIA Saia Inc
USAK Usa Truck Inc
VTNC Vitran Corp Inc Cl A
UTILITIES Diversified Utilities
UTL Unitil Corp
UTILITIES Electric Utilities
AES Aes Corporation
UTILITIES Water Utilities
SJW Sjw Corp
WHOLESALE Building Materials Wholesale
BXC Bluelinx Holdings
IBI Interline Brands
LAWS Lawson Products Inc
WHOLESALE Computers Wholesale
INXI INX Inc
---------------------------------------------
NEGATIVE VRs
---------------------------------------------
XXX CANADIAN STOCKS XXX Canadian Stocks
AEM.UN AGNICO EAGLE MINES
AGI.UN ALAMOS GOLD, INC.
CMW.UN CLAYMORE S&P/TSX GLOB MINING
CRQ.UN CLAYMORE CANADIAN FUN
CXS COUNSEL CORPORATION
EIT.UN ENERVEST DIVERSIFIED
G.UN GOLDCORP
HAU HORIZONS BETAPRO DJ-A
HBU HORIZONS BETAPRO COME
HXU HORIZONS BETAPRO S&P/
IPL.UN INTER PIPELINE FUND C
IVN.UN IVANHOE MINES
PAA.UN PAN AMERICAN SILVER
PD.UN PRECISION DRILLING TRUST
RY.UN ROYAL BANK OF CANADA
SLW.UN SILVER WHEATON CORP
SNC SNC-LAVALIN GROUP COM
TCM.UN THOMPSON CREEK METALS CO
TD.UN TORONTO DOMINION BANK
XCB ISHARES CDN DEX ALL C
---------------------------------------------
U.S. STOCKS
---------------------------------------------
AEROSPACE/DEFENSE Aerospace/Defense Products & S
AVAV Aerovironment Inc
SIF Sifco Industries Inc
SWHC Smith & Wesson Hldg Corp
AUTOMOTIVE Trucks & Other Vehicles
WNC Wabash National Corp
BANKING Foreign Regional Banks
BFR Banco Frances Sa
BANKING Money Center Banks
BAC Bank Of America Corp
GGAL Grupo Financiero Galicia
BANKING Regional - Mid-Atlantic Banks
HMPR Hampton Roads Bankshares Inc
NKSH National Bankshares Inc
WL Wilmington Trust Corp
BANKING Regional - Midwest Banks
CMA Comerica Inc
FBMI Firstbank Corp
HBAN Huntington Bancshares
BANKING Regional - Northeast Banks
ALNC Alliance Financial Corp
ATLO Ames National Corporation
CJBK Central Jersey Bancorp
FLIC First Of Long Island Cp
BANKING Regional - Pacific Banks
BOH Bank of Hawaii Corp
NARA Nara Bancorp Inc
WABC Westamerica Bancorp
BANKING Savings & Loans
CLFC Center Financial Corp
FNFG First Niagara Finl Grp Inc New
WFD Westfield Financial Inc
CHEMICALS Agricultural Chemicals
AGU Agrium Inc
CHEMICALS Chemicals - Major Diversified
APD Air Products & Chemicals
DD Dupont E I Nemours & Co
CHEMICALS Specialty Chemicals
FSI Flexible Solutions Inc
NGBF New Generation Biofuels
OMN Omnova Solutions Inc
PENX Penford Corp
CHEMICALS Synthetics
ALB Albemarle Corp
CCC Calgon Carbon Corp
COMPUTER HARDWARE Computer Peripherals
SCMM Scm Microsystems Inc
COMPUTER HARDWARE Networking & Communication Dev
FNSR Finisar Corporation
RVBD Riverbed Technologies Inc
COMPUTER SOFTWARE & SERVICES Application Software
PRGS Progress Software Corp
COMPUTER SOFTWARE & SERVICES Business Software & Services
CTSH Cognizant Tech Sol Cp A
IHS IHS Inc
LFT Longtop Financial Technologies
DIVERSIFIED SERVICES Staffing & Outsourcing Service
AHS Amn Healthcare
DRUGS Biotechnology
EBS Emergent BioSolutions Inc
ILMN Illumina Inc
MRX Medicis Pharmaceutical A
NLTX Nile Therapeutics Inc
DRUGS Diagnostic Substances
ILI Interleukin Genetics Inc
MYGN Myriad Genetics Inc
DRUGS Drug Delivery
HSP Hospira Inc
DRUGS Drug Manufacturers - Major
CELG Celgene Corp
PFE Pfizer Inc
DRUGS Drug Manufacturers - Other
CEPH Cephalon Inc
IMGN Immunogen Inc
NGSX NeurogesX` Inc
RDY Dr Reddys Labs
SVA Sinovac Biotech Ltd
DRUGS Drug Related Products
PBH Prestige Brands Holdings
ELECTRONICS Diversified Electronics
CNLG Conolog Corporation
FEIC Fei Company
JST Jinpan Internat Ltd
OESX Orion Energy Systems Inc
ELECTRONICS Scientific & Technical Instrum
AMOT Allied Motion Tech Inc
FINANCIAL SERVICES Asset Management
AMG Affiliated Managers Grp
FBCM Fbr Capital Markets Corp
LAZ Lazard Ltd
FINANCIAL SERVICES Closed End Fund - Debt
BLE Blackrock Muni Inc Trust Ii
BNJ Blackrock Nj Municipal Inc Tr
BPK Blackrock Muni 2018 Trm Tr
BYM Blackrock Insured Muni Income
CIM Cim High Yield Sec Sbi
FINANCIAL SERVICES Closed End Fund - Equity
BAL iPath Dow Jones-AIG Cotton Tot
DBB PowerShares DB Base Metals Fun
DGL PowerShares DB Gold Fund
DGP DB Gold Double Long ETN
DUC Duff & Phelps Util & Cbt
DVF Diversified Incm Strat Port
EPS WisdomTree Earnings 500 Fd
FINANCIAL SERVICES Credit Services
COF Capital One Financial Cp
LOAN Dag Media Inc
FINANCIAL SERVICES Diversified Investments
CODI Compass Diversified Trust
FYR Sapphire Indus Corp
TPL Texas Pacific Land Trust
FINANCIAL SERVICES Investment Brokerage - Nationa
IAI iShares DJ Broker Dealer Index
FOOD & BEVERAGE Beverages - Soft Drinks
AKOB Embotereva Cip (france)
FOOD & BEVERAGE Confectioners
MFW M&F Worldwide Corp
FOOD & BEVERAGE Food - Major Diversified
UL Unilever Plc
UN Unilever N.V.
FOOD & BEVERAGE Meat Products
SAFM Sanderson Farms Inc
FOOD & BEVERAGE Processed & Packaged Goods
BGS B&G Foods Inc.
DMND Diamond Foods Inc
PEET Peet's Coffee & Tea
INSURANCE Insurance Brokers
WSH Willis Group Holdings Limited
INSURANCE Life Insurance
AXA Axa Ads
LNC Lincoln National Corp
INTERNET Internet Software & Services
ASIA Asiainfo Holdings Inc
MDRX Allscripts Healthcare Solution
LEISURE General Entertainment
CUK Carnival Plc
LEISURE Resorts & Casinos
CTRP Ctrip.com International
LEISURE Restaurants
PZZA Papa Johns Internat Inc
RICK Rick's Caberet Intl
MANUFACTURING Diversified Machinery
AIXG Aixtron Aktiengesellschaft Ads
CYD China Yuchai Int Ltd
DRC Dresser-Rand Group Inc
MANUFACTURING Industrial Electrical Equipmen
ABB Abb Ltd
UQM Uqm Technologies Inc
MANUFACTURING Industrial Equipment & Compone
MWA Mueller Water Products Inc
MATERIALS & CONSTRUCTION Cement
RMX Ready Mix Inc
MATERIALS & CONSTRUCTION General Building Materials
VAL Valspar Corporationthe
MATERIALS & CONSTRUCTION Lumber
LPX Louisiana-Pacific Corp
MATERIALS & CONSTRUCTION Residential Construction
PHM Pulte Homes Inc
MEDIA Advertising Services
OMC Omnicom Group Inc
MEDIA Broadcasting - TV
FSCI Fisher Comms
MEDIA Entertainment - Diversified
VIA Viacom Inc Cl A
MEDIA Marketing Services
CCO Clear Channel Outdoor Holdings
LAMR Lamar Advertising Co A
MEDIA Movie Production
CNK Cinemark Holdings Inc
RGC Regal Entertainment Grp
METALS & MINING Aluminum
CENX Century Aluminum Company
METALS & MINING Gold
EGI Entree Gold Inc
NG Novagold Resources Inc
THM International Tower Hill Mines
METALS & MINING Industrial Metals & Minerals
JRCC James River Coal Company
PLG Platinum Group Metal
TC Thompson Creek Metals Company
TIE Titanium Metals Corp New
USU Usec Inc
METALS & MINING Silver
TRE Tan Range Exploration Inc
METALS & MINING Steel & Iron
SID Companhia Siderurgica Na
REAL ESTATE Mortgage Investment
HTS Hatteras Financial Corp
NLY Annaly Mortgage Mngt Inc
REAL ESTATE Property Management/Developmen
MIM Mi Developments Inc
ZIPR Ziprealty Inc
REAL ESTATE REIT - Diversified/Industrial
CDR Cedar Shopping Centers Inc
OLP One Liberty Properties
REAL ESTATE REIT - Hotel/Motel
SHO Sunstone Hotel Investors Inc
REAL ESTATE REIT - Residential
AGNC American Capital Agency Corp.
REAL ESTATE REIT - Retail
IRC Inland Real Estate Corp
RETAIL Auto Parts Stores
TA Travelcenters of America LLC
SPECIALTY RETAIL Apparel Stores
BCF Burlington Coat Fac Whse
SPECIALTY RETAIL Specialty Retail
NRGP Inergy Holdings LP
SPECIALTY RETAIL Sporting Goods Stores
DRJ Dreams Inc
TELECOMMUNICATIONS Communication Equipment
ENWV Endwave Corporation
TNS Tns Inc
WRLS Telular Corp
TELECOMMUNICATIONS Diversified Communication Serv
PCTI Pc-Tel Incorporated
TELECOMMUNICATIONS Processing Systems & Products
AV Avaya Inc
TELECOMMUNICATIONS Telecom Services - Foreign
CHA China Telecom
NTT Nippon Tel & Tel Ads
PT Portugal Telecom Sa
TELECOMMUNICATIONS Wireless Communications
DCM Ntt De Co Mo Adr
KNOL Knology Inc
PCS Metropcs Communications Inc
TRANSPORTATION Major Airlines
TAM TAM S.A. ADR
TRANSPORTATION Railroads
GSH Guangshen Railway Co
PWX Providence & Worcestr Rr
TRANSPORTATION Regional Airlines
LFL Lan Chile Sa
TRANSPORTATION Shipping
DAC Danaos Corp
DSX Diana Shipping Inc
UTILITIES Foreign Utilities
VE Veolia Environment
UTILITIES Gas Utilities
NWN Northwest Natural Gas Co
PNY Piedmont Natrl Gas Inc
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