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August 23, 2014 – Weekend Market Comment

August 23, 2014 – U.S. stocks mostly fell on Friday, with the S&P 500 halting a four-session win streak that lifted it to a record, as investors weighed rising tension between Russia and Ukraine and speeches by European Central Bank President Mario Draghi and Federal Reserve Chair Janet Yellen.  Both central bankers gave the market what was expected, with Yellen reiterating that slack remains in the U.S. labor market even as the American economy continues a five-year recovery and Draghi expressing confidence that stimulus already announced and a weaker euro would help the euro-zone economy, but the ECB is ready to do more if needed.

The Dow Jones Industrial Average shed 38.27 points, or 0.2 percent, to 17,001.22, leaving it 2 percent higher for the week. The Nasdaq added 6.45 points, or 0.2 percent, to, 4,538.55, up 1.7 percent from the week earlier. For every five stocks rising, less than nine declined on the New York Stock Exchange, where 521 million shares traded. Composite volume neared 2.3 billion.

So as we can see a classic bounce week, I hope you were all listening last week when we got a green arrow, or for the more daring two weeks ago as we hit the normal edge of the range on the Primary Sell Indicator. In any case that bounce last week was very profitable. Even the consumer stocks that were lagging caught fire last week. 

So  looking at the big picture the bull bear lines, no surprise are still bullish.

Primary Sell and Vix tell us the pros are jumping back in - risk on!


and so on . . . 

What Works Now
Well in my post on Aug 16 I recommended a few stocks, lets see how we did.

A solid win at Iron Mountain

 Nothing but blue skys in the travel world of Expedia and TripAdvisor


Medical/Pharma stocks are feeling well - Canadian medical company CRH Medical corp.

Gilead is my top pharma pick, nice week!


More Picks
If you want some more suggestions consider these:

My favorite Canadian Bank Bank of Nova Scotia 

The two big tech heavy weights Google class C and Apple


King of the Canadian Oil sands Suncor

My favorite U.S. Bank in ticker BK, the Bank of New York Mellon which I bought more of this week.

Finally if you just want to be in the US equity market with stable steady returns consider SDY or DVY that's an ETF that invests in dividend paying stocks. I bought some more this week with some of my profits. I also bought the Canadian cousin CDZ that buys in dividend payers in Canada with a long history of raising dividends. 



In the News
The Economist pointed out that America still leads the world in many areas, like this graph of  police shootings. :(







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Yet another parabolic up week for the markets. Honestly folks valuations are really stretched here. The air is so thin at this altitude. Then again the markets can and do (on a short term basis) anything they want. Still I would expect a little pull-back in the next two weeks.


Lets see what is in the charts this week:

CLICK HERE: To see the 100 and 200 series charts



101 Bull Bear Bull market (dark green over red) and now the short term (light green) is up sharply. Also note the dark green 50 day average is in a firm uptrend. NOTICE THE SLOPE (second window), this could be part of a new long term uptrend.Bull market -- expect bullish outcomes…