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I apologize for not updating regularly; but it’s rather pointless considering the markets are stuck in between Congress and end of year traditions. Nevertheless, I will tell you what The PPT is saying today.
Over the past two weeks just about every investor has been mesmerized with the short selling pimp hand of Bill Ackman from Pershing Square. Well, what else is Bill up to?
He’s been making back some coin in JCP lately, and making even more in BEAM. He’s a big owner of Burger King, BKW. But I can never see that stupid company working out. I am interested, however, in FBHS and BEAM.
Feel free to look up your favorite hedge fund managers to see what they’re up to.
None of the major ETFs are oversold; but TVIX is overbought. If there is one thing worth betting against in 2012, it is volatility. Over the past 12 months there have been 11 overbought signal for TVIX by The PPT. Of them, the algorithms have been right 10 out of 11 times, with TVIX getting crushed, on average, for -12.7% over 10 days. XIV is attractive.
Look, the overall hybrid is below 2.7 and tech score under 2.00. This is a bearish tape, regardless of today’s intra-day reversal.
Auto-makers are still strong. Naturally, my favorites are TM and HMC. I’m also a big fan of shorting yen, especially into rallies. You can do that via YCS–which is also the top ranked ETF in PPT’s universe. The number two ranked ETF is DXJ, which is a combo of short yen, long Japanese exporters.
Another interesting stock is PRSC; but the volume is too thin for me to buy.
Read the description of the company and try to figure out HOW CAN THEY LOSE in 2013?
The Providence Service Corporation provides and manages government sponsored social services and non-emergency transportation services. It offers home and community based counseling services, which include home based and intensive home based counseling, substance abuse treatment services, school support services, correctional services, and workforce development; and foster care and therapeutic foster care services. The company also provides not-for-profit managed services comprising administrative support, information technology, and accounting and payroll services; intake, assessment, and referral services; monitoring services; and case management services. In addition, the company provides non-emergency transportation management services to state Medicaid programs, local government agencies, hospital systems, health maintenance organizations, private managed care organizations, and commercial insurers, as well as to individuals with limited mobility, people with limited means of transportation, people with disabilities, and Medicaid members. Further, it offers school transportation services to school children, including special needs students who are physically fragile or mentally ill. The company has operations primarily in the District of Columbia, United States; and British Columbia, Canada.
Bottom line: Volatility is not a good hold here and Japan is on fire. My favorites are HMC,TM, NMR and MTU. The market’s can do anything based upon last minutes deals. But I’d rather wait until after the New Year for a true oversold reading or a resurgence of the bull market to emerge. Going heavily long now is equal to betting on Congress to do their job–always a high risk/low reward trade.
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