Unemployment and some bad earnings

Benny’s Picks & predicts BLOG

Benny … “The Smartest Cat in the Room”
benny@AskBennyTheCat.com

POSTED: Monday 7/5/2009 @ 10:45pm MST-Arizona

Well, Benny Fans, I hope you didn’t have any fireworks malfunctions…my hit rate for the last several weeks is averaging 73 percent…and I’m a cat.

Hey Benny Fans, go to the Perfect Pet Feeder link below and check out who’s on their home page in a featured story…that’s right, Moi!  Week #14 of my diet and I’m continuing on my quest to lose those extra pounds I put on over the winter!  I lost 12% of my body weight in the first 8 weeks and I continue to drop the pounds!   My latest progress picture will be going up this week soon – so check it out!

• So Bernie got 150 years!  That sounds bad, but he could be out in 85 with good behavior.  Where’s all the money?  So you think that the dozen or so people who helped him will remember where it all went when pressured?. . . Benny makes a funny! . . . Q. How do you ruin your child’s life? . . .  A.  Name your son Adolph Madoff.
• OK, last week I told you to keep your eye on the S&P. . . to watch for the S&P index to fall below both it’s 50-DMA (903) and 200-DMA (894).  If it did, this would be very bearish for the market.  It did fall over its 50-DMA and is holding on by a thread (896) from slipping over the 200-DMA.  You will see resistence at 920 and then again at 940 for the S&P.  You will see support at 880.  If the S&P breaks support at 880, there will be  long tumble.  Continued unemployment and some bad earnings could accelerate the fall.
• If you took a position in Yamana Gold (AUY) hold it, as it still appears to be a takeover target.  If you didn’t buy a small position, wait until the price crosses over the 50-DMA going up (just under $10)  and sell it upon the announcement of a takeover.
• I like GLD right now better than SLV.  Watch for GLD’s MACD to cross-up and buy in after this little pullback.  SLV is looking for a bottom, possibly around/under $13.  Then, watch for the MACD to cross up and buy in.  I’m looking for SLV to run into 2010 before it peaks.
• Read about how all asset classes are in a free-fall at this way cool site where I go to get all my “secret” information
• Let’s go long on these this week…PEET (Peet’s Coffee – yum!); PZZA (Papa John’s Pizza – double yum!); MCD (McDonald’s – new Angus burger!); AEM (Agnico-Eagle Mines); SNDA (Shanda Interactive Entertainment); POT (Potash); PTR (PetroChina); BIDU (Baidu) – watch for a bounce.
• And here’s my “dogs” for the week (notice they call bad performing stocks dogs!) . . . NUE (Nucor Corp.); SMG (Scotts Miracle-Gro Co.); CHH (Choice Hotels); ZMH (Zimmer Holdings); TGT (Target); and PG (Proctoer & Gamble).
• Here’s a head’s up, Benny Fans!  I read in the CR News Reports© where more and more money is pouring into the market from retail investors.  However, at the same time, insider selling is at a high.  This smells fishy, and I don’t mean in the good way . . . you know, like Yellowfin Tuna Florentine.  I mean that you better watch yourself out there.  Someone’s looking to pull the plug and flush the little fish down the toilet in July.If Califormia is allowed to go bankrupt, it could put the markets into a tailspin!  If ratings organizations start pulling the plug on States’ ratings, this could trigger a chain-reaction of State’s handing out IOU’s.  States claiming they are “too big to fail” will start lining up for more money over and above what they got from any Stimulus plan.Did you ever realize that the news is never new?  It’s a history lesson by the time you receive it.  Get the News Before It Happens…..Click on this link . . . www.CRNewsReports.com . . .   Be the smartest cat in your family!  Fill out the form in the upper left-hand corner of the Home page then watch your inbox for a confirmation email.  Why wake up to the news when you can get the news that wakes up the World?
• When all the stores at the mall close up and commercial real estate developers are insolvent, what will we do with that space?  Find out at this blog entitled “Ghost Malls.”  You don’t want to miss this brilliant commentary.

Get the economy moving again…invest some of your money in something that will give you a long-term return – a Benny Mug!  Prove your Benny fandom and start your day with a giggle!  . . . Meow for Now! . . . Benny.

Tags: Adolph Madoff, Continued unemployment, I like GLD right now