sector

Nightly Recap 4-8-2010

Posted by Investing Freak on April 08, 2010
General / Comments Off on Nightly Recap 4-8-2010

Market Summary:
DOW      +29.55 (10,927.07)
S&P        +3.99 (1,186.43)
Nasdaq  +5.65 (2,436.81)
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Disclaimer:
Open Positions:  SRS at 5.97
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Nightly News Links

US Economy:

Strong Retail Sales Prove Consumer Isn’t Dead (In The Money)
The one sector that is bucking the weakness is the retail sector, after a flurry of same-store sales reports that were very strong. Companies such as Macy’s (M), Target (TGT), and Gap (GPS) all posted double-digit increases in comp store sales, a solid showing. The Reformed Broker: ” On CNBC, a breathless Dana Telsey guided us through this morning’s March Same Store Sales numbers – against incredibly bad comps, the numbers end up looking miraculous. The bulls will make the case that this is the pent-up consumer coming out of the woodwork for good, the bears will remind us that Easter weekend came early this year and was wedged into the month’s tally.”

World Economy:

Greece is Dying! (The Big Picture)
Highlighting the increasingly troubled situation in Greece, the yield curve spread between 2’s and 10’s is now negative. Greek 2 yr note yields are rising a whopping 114 bps to 7.83% while 10 yr yields are up 34 bps to 7.51%. Greek 5 yr CDS is up 35 bps to 448 bps and now exceeds Dubai and Iceland. Greek stocks are down almost 4%. A German official didn’t help the situation by saying that their stance hasn’t changed and they will only assist Greece as a last resort. Well, that may be fast approaching but it’s looking more likely that it will be an IMF bailout that will lead the way.

More Links on Greece:
1.Goldman On Greece: “Could Turn Into The Endgame”
2.S&P Threatens Greece With Downgrade If Bond Spreads Are Not Quickly Reduced
3.PIMCO Compares Greece To Titanic, Says Bonds Not Attractive Even Over 7%
4.Is A Big US Bank Betting On A Greek Default In 11 Days?

Interesting Links:

Hispanics Create More than Half of Food Growth(Retailer Daily)
The U.S. Hispanic segment made up more than 50% of real U.S. food, beverage and restaurant growth between 2005 and 2008, generating $52 billion of new inflation-adjusted spending. In contrast, non-Hispanics generated $40 billion of new inflation adjusted spending during the same period. This means that between 2005 and 2008, Hispanics accounted for 57.7% of sales growth in the food, beverage and restaurant sector.

Southpark: Cartman as Jim Cramer of Facebook
A 1 minute clip which i found funny 🙂

Have a Good Night

-K

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Sell Tech?

Posted by Investing Freak on August 16, 2009
Market Analysis / Comments Off on Sell Tech?

If you check the Current Picks Tab you will see I have updated it again.

After running my strategy… $COMPX , $QQQQ, $IWM, $IYR, $QLD, $URE are all on the SELL list.

I am wondering if the tech sector (COMPX, QQQQ, QLD) is the first one to lead the next correction or if it is just lagging the seemingly never-ending rally of the current market.

Stay tuned and keep checking my twitter for more info. (either on the right column under “Latest Updates” or at http://www.twitter.com/investingfreak )

-K

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SKF (UltraShort Financials) Overbought?

Posted by Investing Freak on March 06, 2009
General / 3 Comments

I hope you saw my post about my February performance. Most of my gains were thanks to shorting the financial sector via SKF.

I have still kept an eye on the ETF after selling it and is now is extremely overbought on many levels. I had a target of $250-255 for it but I did not hold my shares past $200. Now that my target has been reached I am looking for SKF to come back down to earth,  I am looking for at least $182-186 range.

With the market crashing down so fast there is not much incentive to go more short as I am sure SEC has plans for a no shorting rule or at least something to stop the bleeding.  That concludes this post and I will rest my case by providing you the chart which I am basing my case on.

Below I am attaching a chart showing the RSI being overbought but also SKF itself going over the Bollinger bands that I use. 
If you are looking to buy into SKF (besides trading it for quick scalps) then either stay away from it or just take the chart into consideration.    (Click to Enlarge)

skf-1003bb-march062009

As always, I merely post my opinions on here so I am not responsible for anyone’s financial decisions.

Have a good day,
-K

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