with R2K the
big winner.
The leading and trailing sectors
for the week
The Dow almost made
it to new highs so likely will give it a go this week. Though we
are in a time when a pullback can start. Watch the stochastics
for a break later in the week below 80.
The long term chart of the Dow shows the decrees in volume on the recent
move.
Transportation index broke its resistance and is again above its 50 and
200 EMAs. It may make it to the trend line from underneath but we think not
further.
Nasdaq gapped up from its Thursday close and on the daily is extended.
The Naz 100 using the QQQQ on the monthly chart and it would actually be
normal for it to make it to the 62% retrace at $57.63 but that does not tie in
with the idea of a good market pullback starting soon.
The semiconductor index which is important for the Nasdaq is still in the
same range and no excitement at least yet.
The NYSE closed at a new
high but not convincingly.
Russell 2000 made a 15 point move or $1,500 per futures contract. May
have been a lot of short covering as seems the small caps will still
underperforms the S&P for the next year or so.
NYSE percent of stock over their 50-day
averages reached the level that in the past was followed fairly soon
by a pullback.
Bullish percent indicator for
the Nasdaq is not yet up to its former dip levels so the Nasdaq
could keep going after some consolidation.
Japanese Yen has been falling so helping
the US markets.
Gold Looks like it could make one more
move but do not think it will last too long.
The Dow priced in Gold. During the time from Jan 1 2002 to today Gold has
gone up from $275 to $750 for a gain of 170% while the Dow is up from
about 10,000 to 14,000 and a gain of only 40%. I might add that the US dollar
index has dropped form $1.17 in 2002 to $0.78 or a loss of about 35% so the
gains in the Dow are in reality about 5% for the past 6 years priced in the
dollar purchasing value for all outside goods services and travel.
30-year
T-bond yield is back up to the trend line channel top. The chart
is similar to the 10-year and if this breaks it is not good for
longer term rates like mortgages even if they are based on a bit
shorter time frame.
Value Line Index had not shown this one in a while. To me this is the
broad market.
The US dollar tried a
little bounce. This low is good for US companies selling
overseas but means all US people spend more for all imported
goods.
The economic calendar from briefing.com - There are few economic reports of interest
this week until Friday
when the PPI and Retail Sales reports for September are released.
Some notes on longer term stocks:
NNRI - NNRF, Inc had three pieces of very good news this week.
One thing the first two press releases point out clearly is
that the company is accomplishing their plan to get their
reverences such that at least 50% com e from sales outside of
Russia. This truly makes them an international company and as
they add customers from several countries they will become more
recognized for the leaders they are.
This spring NNRF raised its original revenue projection from the
sales of the Power Quality Equipment of $50 to $100 million to a
total of up to $200 million over the next five years. We had
been waiting to hear and now the first PR tells us that the
testing over the last months is completed and now after some
meetings later in the month NNRF anticipates commencement of the
installation of PQ equipment in government facilities throughout
the Republic of Tatarstan.
NNRF, Inc. Completes Rigorous Independent
Testing of Power Quality Equipment in Tartarstan
NNRF also announced that it has completed a strategic plan that
will be presented to the Ministry of State for Environmental
Affairs, Egyptian Environmental Affairs Agency later this month.
They have been in talks and this global agreement will identify
the priorities, amounts and terms of the engagement of NNRF by
the Arab Republic of Egypt in regards to handling, containment
and the disposal of high level hazardous wastes in Egypt. The
joint undertaking will include a ten year plan for the
replacement of toxic lead with NNRF's proprietary materials,
FEECOM and BIECOM.
This is fantastic and the press release also mentioned that similar
initiatives are currently under review in the Far East and
Latin America. NNRF anticipates that these initiatives will
be successfully concluded in the next two quarters.
NNRF, Inc. Announces Completion of
Strategic Plan for the Containment and Disposal of Hazardous
Waste in the Arab Republic of Egypt
The third press release this weeks was that NNRF received
clearance from the Securities and Exchange Commission
regarding its Form 10-SB registration statement This means that
they can now file form 211 with NASD so after they can be quoted
on the OTC which will facilitate the Company's intention to list
on other exchanges such as the American Stock Exchange and/or
the Alternative Investment Market in London.
NNRF, Inc. Receives Clearance
From Securities and Exchange Commission On Form 10-SB
Registration Statement
All of these announcements are very positive and it shows that the
company is solidly executing its plans.
NNRI Chart looking for the
stochastics to get back over 20 as the RSI seems to have bounced
at 30.
PLTG is showing some weakness at the moment however the
company continues to works its wells so it will not be too long
before the oil in Texas and gas in Tennessee is flowing and
turning into solid revenues.
CYRX had significant
news this week as they received their $4 million in financing to
help them with their long range plans and the stock is acting much
better.
CryoPort
Nets $4.0 Million in Financing
CYRX now sitting just
under the 200-day EMA so a break above will be very bullish.
CFPC is doing nothing in
the chart as it seems bored investors sold out. However the
company is shipping coffee and we hear that the chairman has
just returned from Jamaica so we expect to hear something soon
form the company.
Now additions to our watch list: We have several shorts so
if we do have a market correction late in the week these may get
some help.
APOL
Back over $64.00 then $65.50
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