With all the alarmist media coverage on Friday the market did just fine for the week. As a matter of fact the NASDAQ flipped the macro jokers the bird and made more highs. Gold is hilarious and did nothing Friday.
The pundits at MarketWatch and CNBC tried to scare you because Soros bought more SPDR S&P 500 (ARCA:SPY) puts. He also bought a crap load more Facebook Inc (NASDAQ:FB) and Apple Inc (NASDAQ:AAPL). Could be a hedge, the more stock you buy, the more you hedge. You have no clue if its a directional bet or not. Soros is betting huge on fracking, but at the same time funds anti- fracking media companies. What garbage noise.
When you figure out what Soros’ intentions are just let me know. I care nary a wit what he does anyway.
The ten year note closed the week at 2.34%. If this keeps up you will be paying the treasury to hold your money. Why not? They’re doing it in Europe. Its the new craze and it’s what all the broken countries are doing. It’s all a puzzle wrapped in an enigma.
The Hang Seng hit a 52 week high on Friday and that market is up about 10% this year.
The etf’s of Germany iShare MSCI Germany (ARCA:EWG) , France'siShares MSCI France (ARCA:EWQ), and Italy's iShares MSCI Italy Capped Fund (ARCA:EWI) look ghastly. The DAX has been getting crushed. Take a look at a chart of Deutsche Bank (NYSE:DB). Looks bad now, but when Draghi pull out the QE blunderbuss out you will wish you bought them down here.
Biotech iShares Nasdaq Biotech (NASDAQ:IBB) just keeps going up and that mid April dip was the buy of the year, up 30%.
AAPL looks like a 100 bucks real soon, then 110.
Patent troll Vringo (NASDAQ:VRNG) dropped 75% on Friday. I never understood why people would expend capital, energy and time with a two buck stock trying to sue Google Inc (NASDAQ:GOOGL) in a raging bull market. So many great setups that were missed.
We are going higher.
Last week my subscribers made the following trades: Biogen Idec Inc (NASDAQ:BIIB) +10%, E-Commerce China Dangdang Inc (NYSE:DANG) +14%, Tuniu Corp (NASDAQ:TOUR) +20%, Receptos Inc (NASDAQ:RCPT) +8%, Arrowhead Research Corporation (NASDAQ:ARWR) +18%, Plug Power Inc (NASDAQ:PLUG) +10%, BioFuel Energy Corp (NASDAQ:BIOF) +8%