November 8, 2011
Mish's Daily
By Mish Schneider
It’s not the price, it’s the percentage gain. One of many great picks to MMMPremium Subscribers. On last night’s Eve Watch: Honorable Mention: F (Through 11.33). Private Tweet 9:45 AM ET “F climbing-can buy outright or price options” Closed up 3% 11.62. “I'm in F from 11.33.” Andy M. “Good job, as usual. thanks.” Rob G.
SPY: 127.50 the 200 DMA cleared with an unconfirmed return to an accumulation phase with better than yesterday's, but still less than average daily volume. A break of today's low would be worrisome.
IWM: 77.70 the 200 DMA.
QQQ: What can I say? Never had any doubt as long as the 200 DMA held.
ETFs:
GLD 172.20 pivotal.
XLF (Financials) moved back above 13.45 which now should hold.
XRT (Retail) Can't keep a strong sector down too long. A close over 53.75 good to perhaps 57.50
IBB (Biotechnology) Sloppy and back over 97.00 a good place to be.
OIH (Oil Service Holders) We saw what happened over 130.00.
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