kaltbaum weekend

Here is an updated leader’s list. Notice the word “tight” when mentioning a few. Tight action is what one wants to see when a stock is consolidating. A move off of these ranges make them potentially buyable.
AMGN-Sitting for 5 weeks as 50 day catches up.
AAPL- Sitting for a whole two weeks.
AMZN- Continues to move higher.
ALXN- Held 50 day and setting up again…but has had a big move.
BIIB- Held 50 day and putting in tight base.
CRUS-Very strong and extended…lots of insider selling showing up.
EQIX- Should have played at 180…too extended here.
EXPE- Holding 50 day this past week…worried about TRIP and PCLN action in same group.
EBAY- Continues to drift higher.
HD- Sitting very tight past 2 weeks.
HAIN-May be setting up in powerful short stroke pattern.
KORS- No issues so far but no new entry.
MLNX- Strong name. Looks like RIMM from Dec 03. Sitting on 21 day here…may probe off it…but not sure.
N-Moved a little off tight range Friday but on no volume.
PETM- Another sitting very tight..
ROST- Sitting tight for past 2 weeks.
SHW- No issues…no entry..
SWI- Sitting tight for 4 weeks.
TJX- Tried moving again Wed but tucked back in.
UA-Trying to edge out here.
V-Holds 50 day Friday…very tight action.
WFM-Still fine but have to think about TFM now.
Currently, this service owns amzn,kors,rost,tsco,tjx,wfm with all doing fine so far. All are acting fine but I am going to watch closely WFM because TFM acted poorly on their number…and also knowing TJX and ROST have had multiple moves.
I sold gld and slv this week because of the fed. The service had gains and didn’t want to give gains back. Obviously, whatever Bernanke said juiced them again…as they are now very strong in anticipation of Mr Bubble printing more money. Just go ahead and buy them back…knowing they meet next week. It sickens me they would even consider more money printing knowing markets are near highs and that economy is not in recession…but that is why his name is Mr Bubble. That is all he is good at. In case you wanted to know, RGLD is the strongest name but extended…most others are in mid-level bases evidenced by the chart of GDX.
Not adding any names today but will send out intradays if anything starts to move. I was in camp that market may be getting into some trouble as the commods and commod countries have started to lead down again…but Bernanke may have taken it off the table. If Bernanke now DOESN’T do anything next week, there is going to be some yelling and screaming as he now becomes Ben Kardashian. Whenever Kim Kardashian wants attention, she just tweets a picture of herself in a two piece. Not sure I can picture Bernanke in a two piece but whenever he wants attention, he just yaps a bit about more QE. I was thinking he wouldn’t do anything because it would make him look political but with Romney saying he would fire him, I think it is very political now. You obviously can tell what I think of this man’s manipulation and interference…and you also know what I think of the outcome of all this money printing.



…even though Mr. Bubble did not announce anything today. He is printing still. He is at 0% rates still…and of course, much more to come.

JACKSON HOLE, Wyo. (AP) – Chairman Ben Bernanke made clear Friday that the Federal Reserve will do more to boost the economy because of high U.S. unemployment and an economic recovery that remains “far from satisfactory.”

He also argued that the Fed’s moves so far to keep interest rates at record lows and encourage borrowing and spending have helped bolster the economy.

Bernanke stopped short of committing the Fed to any specific move, such as another round of bond purchases to lower long-term rates. But in a speech at an annual Fed conference in Jackson Hole, Wyo., Bernanke said that even with rates at super-lows, the Fed can do more.


SOURCE: http://www.dailyfinance.com





What Americans Do On An Average Workday

Breakdown Of Leisure And House Work


SOURCE: http://www.npr.org





SOURCE:  http://www.aol.com

kaltbaum premarket

Let’s see:
Eurozone unemployment worse than expected…Germany retail sales worse than expected…oops…Europe announces they are looking at buying up short term stuff. What happens? Euro soars…European markets up strong…we gap up almost 1%…and this all before the Fed…OR someone on crooked Wall Street found out what the fed is going to do and is frontrunning. OR…others saying that market thinks Romney has a good chance to win after last night…and the market is reacting to that.
Ok…all that is noise…bottom line…markets hit resistance at the highs…have pulled back and have potentially formed cup and handles on the indices. The only thing service did yesterday was sell gold and silver. The service kept all the stocks…amzn,kors,rost,regn,tjx,tsco,wfm.
We now wait for 10 am noise from Mr Bubble. No clue what he says or does…and have no clue to the reaction. Hopefully, it is a good reaction and market can break out.
Will have a full report with leaders list over the holiday weekend. Enjoy the 3 days off.

kaltbaum email

I will be waiting for the fed at 10 am and will see what the idiot says and if the market reacts. i would love if the market just ignores him. Crappy day but no biggie for leaders. But market seems to be turning to the defensive side here so we are on watch.



NEW YORK (AP) — Facebook co-founder Dustin Moskovitz is shedding another 450,000 company shares for a take of about $8.7 million.

Moskovitz has been selling 150,000 shares a day and disclosing the sales every three days. Including the most recent sale, he still holds more than 130 million shares.

The latest filing, made late Wednesday, covered sales from Monday to Wednesday. He sold shares at prices ranging from $19 to $19.49.


SOURCE: http://hosted.ap.org



Stop telling us we do not understand. We have calculators. We see the numbers. We have good memories of how a ton of the stimulus was to build roads and infrastructure…but all we keep hearing now is we have to raise taxes for roads and infrastructure. You can talk blue in the face but there is a bottom line. The stimulus was loaned money…loaned by the taxpayer…and the taxpayer has to pay back that loan. Go think! We read about how many of your bundlers….how many of your cronies that received grants just because they started and got involved with  faux green energy companies. I can go on…but it is worthless…because you just want to double and triple down.  Read this: 

TAMPA, Fla. (CBS Tampa/AP) — President Barack Obama says his re-election might help end the political stalemate in Washington, much like “popping a blister.”

In an interview with Time magazine, Obama says he expects Republicans in Congress to work more cooperatively in a second term, since his re-election would no longer be a factor.

“My expectation is that there will be some popping of the blister after this election, because it will have been such a stark choice,” Obama said.

The president says he also wants to do a better job of explaining to the public how his policies will help the economy grow. Obama claims he didn’t do a good enough job selling Americans on the stimulus plan and the auto company bailout because he was so focused on acting to fix the economy.


SOURCE: http://tampa.cbslocal.com



…but this one chart of past election years is nothing but uncanny up to now. 


SOURCE: http://www.bespokeinvest.com

gary k midday

Good trade on the open in gold and silver so far…but it really doesn’t matter because tomorrow’s news will dictate policy.

But I need to tell you that if there wasn’t a chance for more QE by Bernanke tomorrow and if we were not waiting on this guy, I would be telling you these things:

Many areas of the market continue to roll over…namely all the commodity areas. The worst of is the steel,coal,metals/mining and the like. On top of that, oil stocks are now rolling over. Due to the fact that these areas were a big part of the recent move up, this bears attention. Also, Mr Market seems like this may not just be a pullback from highs. I was actually seeing a cup and handle on the weekly charts for the markets…and frankly, that pattern is still there….but the market will need mentioned areas to turn around.

I also wanted to mention that as of this second, I consider the action of 8/21 a failed breakout in the financials as they broke above resistance and immediately tucked their tail in. A few are now looking suspect. As far as leading stocks, the good news is that they are just sitting today while the market comes in.

One name recently put on service that is not thrilling is REGN…which had a clean breakout. It is not moving higher…but as long as it holds $140, we will stay with. Use a break of $140 as a stop. Also…TFM reversed hard yesterday on earnings and is following through to the downside. This stock is not on service but WFM is…somewhat of a cousin stock…so we must watch WFM carefully. So far, it is fine.

All in all, I am thinking more defensively moving into September notwithstanding Bernanke tomorrow.