September 22nd, 2009

Update

Readers, my apologies. I’m out of town so I won’t be able to post an update. But from my vantage point, I see the market is still chugging along on its way to 1125-1150, my target for a long while back. From what I hear, the $US declined today (by nearly 1%) and commodity and other stocks closely tied to the dollar rose (GLD up 1.33%, close to making new high) just as I called for in the previous post.

Much to my surprise (and chagrin because I sold many of these stocks after huge run-ups), the financial, auto and truck parts and REITs are still doing very nicely.

I will be back late Friday and hope to add a more complete report. In the meanwhile, hold the fort against the bears and

Happy Trading

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  • Anonymous

    Bernstein raised WFC to $40 that means XLF will go to 24…

  • Minnesotalee

    I have PO of 44 for WFC on my charts and 21 on the XLF. Looks like I'm right there with you. I hope Jesse gets on board too.

  • Jesse Caris

    back by popular demand, fellas XLF to $24 is a pipe dream! Bears came in at 1080. my 1050-1100 still stands! get short or get crushed

  • Anonymous

    Sanford Bernstein raised its price target on shares of Goldman Sachs Group to $220 from $190..repeat XLF to $24

  • Minnesotalee

    We definitely found our contrarian indicator. I thought it was Cramer, but I was wrong. Remember the SP500, DJ30, TRANS and UTIL all have given the best technical signals for a BUY signal. Remember you only need two, but here we have four.

  • Minnesotalee

    We definitely found our contrarian indicator. I thought it was Cramer, but I was wrong. Remember the SP500, DJ30, TRANS and UTIL all have given the best technical signals for a BUY signal. Remember you only need two, but here we have four.