Stock Bulls Picking Up Nickels And Dimes
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November 25, 2014

11-25-2014 8-36-14 PM NICKELS

I know of one investor who has $5 million invested in nickels. Where he stores them is a mystery but that’s how extreme some feel about money and what central banks are doing. What do I do for walking around money, well I don’t carry pockets full of nickels—$20 worth of quarters are my bag, baby!

Let’s not forget FDR’s executive order confiscating gold in1933 and later Nixon’s ending of it in 1971 with Bretton Woods. Government manipulations are not economic policies, they’re done to protect the existing pretense and anything that benefits large banks and other insiders.

11-25-2014 7-17-51 PM Gold

 

Now that’s an executive order with some stank on it making for confiscation. FDR paid about $20 for the gold and then raised the price to $35. Let that roll around in your brain for a bit. Maybe Obama can outdo that one before he exits.

In light of this history, Gold ETFs may be the victim of another confiscation as many choose to buy physical coins and bullion instead. Meanwhile Central Banks are buying bullion hand over fist. If they choose, many then lease it for the revenue that provides. So I guess in the late 60’s Mr. Goldfinger knew what he was doing even as he failed getting the Fort Knox inventory. Hmm, maybe the story would have been, Goldfinger raids Fort Knox and doesn’t find any. Well that’s for Hollywood. And, what does this have to do with the price of IBM Apple? A lot actually but that’s for another day.

Headline U.S. market sectors eked-out the tiniest of gains. Beneath those headlines most stocks in the U.S. and emerging markets were weak while those in Europe rose given ideas the ECB may actually “do” something.

Economic data included: GDP rose to 3.9% vs 3.3% expected & prior 3.5%; Corp Profits fell to 3.8% vs prior 4.6%; FHFA House Price Index fell to 0.0% vs 0.4% expected & prior 0.1%; S&P Case-Shiller HPI rose slightly to 0.3% vs 0.3% expected & prior 0.1%. Not Seasonally Adjusted 0.0% vs 0.4% expected & prior 0.2%; Consumer Confidence fell sharply to 88.7 vs 96.5 expected & prior 94.1 (within index consumer expectations fell 6.5 pts); and, Richmond Fed Mfg Survey drops substantially to 4 vs 16 expected & prior 20.

Leading market sectors higher included: Gold Miners (GDX), Junior Gold Miners (GDXJ), Industrials (XLI), Consumer Discretionary (XLY), Metals & Miners (XME), Bonds (TLT), Germany (EWG), Europe 350 (IEV), Europe Monetary Union (EZU), Agriculture (DBA), Platinum (PPLT) and Natural Gas (UNG).

Leading market sectors lower included: Energy (XLE), Natural Gas Producers (FCG), Solar (TAN), Homebuilders (ITB), Materials (XLB), Emerging Markets (EEM), China (FXI), India (EPI), Mexico (EWW), Indonesia (IDX), Russia (RSX), Australia (EWA), Agricultural Producers (MOO), Coal (KOL), Crude Oil (USO), Base Metals (DBB) and Commodity Tracker (DBC).                                                               

The top 20 market movers by percentage change in volume whether rising or falling is available daily.

Volume was light once again and breadth per the WSJ was for the most part flat.

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11-25-2014 7-18-42 PM Diary

 

Charts of the Day
  • SPY 5 MINUTE

    SPY  5  MINUTE

  • SPX WEEKLY

    SPX WEEKLY

  • INDU WEEKLY

    INDU WEEKLY

  • RUT WEEKLY

    RUT WEEKLY

  • NDX WEEKLY

    NDX WEEKLY

  • XLB WEEKLY

    XLB WEEKLY

  • XLE WEEKLY

    XLE WEEKLY

  • XLF WEEKLY

    XLF WEEKLY

  • ITB WEEKLY

    ITB WEEKLY

  • IYR WEEKLY

    IYR WEEKLY

  • TAN WEEKLY

    TAN WEEKLY

  • XLI WEEKLY

    XLI WEEKLY

  • FCG WEEKLY

    FCG WEEKLY

  • XME WEEKLY

    XME WEEKLY

  • TLT WEEKLY

    TLT WEEKLY

  • UUP WEEKLY

    UUP WEEKLY

  • FXE WEEKLY

    FXE WEEKLY

  • FXA WEEKLY

    FXA WEEKLY

  • FXY WEEKLY

    FXY WEEKLY

  • GLD WEEKLY

    GLD WEEKLY

  • GDX WEEKLY

    GDX WEEKLY

  • SLV WEEKLY

    SLV WEEKLY

  • JJC WEEKLY

    JJC WEEKLY

  • USO WEEKLY

    USO WEEKLY

  • DBC WEEKLY

    DBC WEEKLY

  • EFA WEEKLY

    EFA WEEKLY

  • EEM WEEKLY

    EEM WEEKLY

  • EZU WEEKLY

    EZU WEEKLY

  • EWL WEEKLY

    EWL WEEKLY

  • EWD WEEKLY

    EWD WEEKLY

  • EIRL WEEKLY

    EIRL WEEKLY

  • RSX WEEKLY

    RSX WEEKLY

  • FXI WEEKLY

    FXI WEEKLY

  • PEK WEEKLY

    PEK WEEKLY

  • NYMO DAILY

    NYMO  DAILY

    The NYMO is a market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. When readings are +60/-60 markets are extended short-term.


     

  • NYSI DAILY

    NYSI DAILY

    The McClellan Summation Index is a long-term version of the McClellan Oscillator. It is a market breadth indicator, and interpretation is similar to that of the McClellan Oscillator, except that it is more suited to major trends. I believe readings of +1000/-1000 reveal markets as much extended.


     

  • VIX WEEKLY

    VIX WEEKLY

    The VIX is a widely used measure of market risk and is often referred to as the "investor fear gauge". Our own interpretation is highlighted in the chart above. The VIX measures the level of put option activity over a 30-day period. Greater buying of put options (protection) causes the index to rise.

 

 

Closing Summary

Like I said, it was a mixed bag Monday. Tuesday we get more economic data including: GDP, FHFA House Price Index, S&P Case-Shiller HPI; Consumer Confidence and Richmond Fed Manufacturing Index. Remember, Wednesday is even more data given that many will be leaving town early. Thursday markets are closed and Friday is a half-day just to annoy everyone.

Let’s see what happens.

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Dave Fry is founder and publisher of ETF Digest and has been covering U.S. and global ETFs since 2001.

He is the author of "Create Your own ETF Hedge Fund: A Do-It-Yourself Strategy for Private Wealth Management" published by Wiley Finance and "The Best ETFs: U.S. Equities, A Companion Guide to Building Your ETF Portfolio"



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Disclaimer: The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell only any security. Market sectors and related ETF's are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotation's aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com

 

ETF Digest

Market Summary
NYSE Composite Index S&P 500 Index Nasdaq Composite Index Russell 2000 Small Cap Index NYSE Composite Index S&P 500 Index Nasdaq Composite Index Russell 2000 Small Cap Index 10 Year Treasury Note Yield Gold Bugs Index Morgan Stanley High Tech 35 Index Market Chart
Commodity Quote Change Change % NY
Gold1,198.20-4.00-0.33 %16:55
WTI Crude Futr73.64-0.45-0.61 %16:20
Index Quotes Change Change % Local
CRB266.65-0.20-0.07 %16:28
US Dollar88.190.000.00 % 16:42
Index Quotes Change Change % Local
VIX12.07-0.18-1.47 %16:14
MSCI Value Daily MTD YTD
Brazil2134.0730.61 %-1.74 %-3.79 %
Russia571.953-2.32 %-4.27 %-27.31 %
India523.768-0.30 %0.78 % 28.59 %
China64.384-0.33 %0.11 % 2.03 %