We saw a week where our Olympic kids took down more gold than Paulson’s fund, the Fed hiked the discount rate and Tiger made a mea culpa more popular than Clinton’s. I watched it and felt that he was sincere, for an automaton, however, I would love to get a copy of the script that his handlers penned for him, especially the part that probably said “pause, exhale and look directly into the camera with puppy dog eyes.” So much money at stake. So sick of Woods.
The financials did well last week, as a matter of fact they posted gains everyday, even yesterday, post hike. Materials also had a phenomenal week as the XLB was positive by about 3% and crude popped about 8%.
Slumberger (SLB) is rumored to be in talks with Smith International (SII) and Weatherford ( chart looks great), also found itself in the rumor mill on Friday. I like the look of OIH on the charts, especially if M&A can pick up in the oil service sector. Coal (KOL) steel (SLX) and technology(XLK) also had a great week.
So what now? Well, the S&P closed firmly above 1100 and its 50 DMA. The climb to the top of the wall of worry continues. I hope you had a good week and enjoy the links.
Stocktwits evolves.
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The Oligarchs
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Citi and your checking account.
Goldman’s “cone of silence”
Soda Pop
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will be a paid subscription.
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Woods is now “right up there” with Pauly Shore.
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