Technically,
we took a pause today from the extended climb after the major 1099 bottom on 3
October. I think we continue to go up,
but at a slower pace. The S&P is
finally back to its 200-dMA.
Answering the NTMS trivia question: MF Global Holdings Ltd., is a commodities and
derivatives broker that delivers “hedging solutions” as a broker dealer. They trade on the NYSE. As I write, they are looking for solutions to
their own problems.
From
CNN Money…
On
Tuesday, MF Global reported an adjusted loss of $17.9 million. Analysts had
been expecting a profit.
But
what really spooked investors was the company's disclosure that it had $6.3
billion in exposure to short-term European soverign debt. Rating agency Moody's
noted that was equal to about five times the company's tangible common equity.
Shares
of MF Global lost nearly half their value Tuesday and are down 62% for the
week. The stock briefly fell below $1 a share Friday morning before recovering
a bit.
Full
article at:
http://money.cnn.com/2011/10/28/news/companies/mf_global/index.htm?iid=HP_LN
So
Europe may not be as “resolved” as we might hope, or should I say, the
resolution may include some pain here in the states.
NTSM
remains BUY today.
I bought back into the stock market at
S&P 500 1155 on 7 Oct after the 6 Oct NTSM buy signal. I remain 100% long in the long term portfolio
(100% stocks in the 401k.). (See the page “How to Use the NTSM System” – the
link is on the right side of this page).
