Stocks weak in spite of closing rally
Let’s get
started with our Dow Theory commentary in this blog.
Bill Gross
teaches us to be humble
Bill Gross,
of PIMCO fame, in his article “A man in the mirror”, has made an exercise in
humility. He concedes that most applauded gurus have enormously benefited by
unusual secular tailwind. He thinks that a 40-year successful track record is
no confirmation of “greatness” in the business of investing because unlimited
credit expansion has lifted many boats.
It is a
sobering piece, which every investor should read. You can find Gross’ article
here.
Stocks
The SPY and
Industrials closed down. The Transports closed up. The primary and secondary
trend remains bullish.
Today’s
volume was higher than yesterday. Since stock closed down it has a bearish
connotation as declining prices were supported by expanding volume. This is the
third bearish volume day in a row within an overall bearish volume picture as
reported here.
Gold and
silver
GLD inventory
did not budge yesterday.
GLD and SLV
closed up. The primary and secondary trend remains bearish.
GDX and SIL,
the gold and silver miners ETFs closed down and up respectively.
Here you have
the figures of the markets I monitor for today:
Data for April 5, 2013 | |||
DOW THEORY PRIMARY TREND MONITOR SPY | |||
SPY | |||
Bull market started | 11/15/2012 | 135.7 | |
Bull market signaled | 01/02/2013 | 146.1 | |
Last close | 04/05/2013 | 155.2 | |
Current stop level: Bear mkt low | 135.7 | ||
Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
6.23% | 14.34% | 7.63% | |
DOW THEORY PRIMARY TREND MONITOR GOLD (GLD) | |||
GLD | |||
Bull market started | 05/16/2012 | 149.5 | |
Bull market signaled | 08/22/2012 | 160.5 | |
Exit December 20 | 12/20/2012 | 161.2 | |
Current stop level: Sec React low | 11/02/2012 | 162.6 | |
Realized Loss % | Tot advance since start bull mkt | ||
0.39% | 7.83% | ||
DOW THEORY PRIMARY TREND MONITOR SILVER (SLV) | |||
SLV | |||
Bull market started | 06/28/2012 | 25.63 | |
Bull market signaled | 08/22/2012 | 28.92 | |
Exit December 20 | 12/20/2012 | 29 | |
Current stop level: Sec React low | 11/02/2012 | 29.95 | |
Realized gain % | Tot advance since start bull mkt | ||
0.28% | 13.15% | ||
DOW THEORY PRIMARY TREND MONITOR ETF SIL | |||
SIL | |||
Bull market started | 07/24/2012 | 17.08 | |
Bull market signaled | 09/04/2012 | 21.83 | |
Exit January 23 | 01/24/2013 | 21.69 | |
Current stop level: Sec React low | 11/15/2012 | 21.87 | |
Realized Loss % | Tot advance since start bull mkt | Max Pot Loss % | |
-0.64% | 26.99% | 27.81% | |
DOW THEORY PRIMARY TREND MONITOR ETF GDX | |||
GDX | |||
Bull market started | 05/16/2012 | 39.56 | |
Bull market signaled | 09/04/2012 | 47.77 | |
Exit January 23 | 01/24/2013 | 44.56 | |
Current stop level: Sec React low | 12/05/2012 | 45.35 | |
Realized Loss % | Tot advance since start bull mkt | Max Pot Loss % | |
-6.72% | 12.64% | 20.75% |
Sincerely,
The Dow
Theorist
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