Weekend Linky Dinks

Chart courtesy of Bespoke
Chart courtesy of Bespoke

The DJIA and S&P500 pushed out to fresh 16-month highs this week as the first quarter lurched towards its close and volume sagged. It’s hard to believe that first quarter earnings will again begin reporting in a few weeks. Greece had some good news as the IMF may come to their aid and the government  of Dubai agreed to pump $9.5 into Dubai World which also helped alay fears.

North Korea was bored and decided to play a round of ” you sunk my battleship” and GOOG ended the week slightly higher after leaving China, but took back about twenty points of their earlier losses on Wednesday.

Major corporations like Caterpillar, Deere and AT&T have announced big first quarter charges as a result of health care reform and it’s only been a week. It will be interesting to see the battle damage for other companies going forward and even more interesting to see how the market digests it all. AT&T took $1billion, CAT $100 million and DE about $150 million. It all adds up so we’ll see.

The chart above telegraphs the S&P targets by the “pros”, I know some of their history in predicting trends and outcomes and I have a fifteen pound Yorkipooh that could have done better. They still get overpaid to pontificate their brilliance, but for my money, they bring zero value to the debate, unless of course you want to give Abby and Toby a fifteenth spin at the wheel to get it right. You know what they say about broken clocks.

The trend is quite simply your friend-always is. Enjoy your weekend and the links. We have a four day trading week coming up as we are closed on Friday.

AT&T, CAT and DE kick off the write down party.

Three reasons why XLF is ripping.

Will the Brits become piggish?

Dr. Jiang-one of the world’s best macro traders (Video)

Is Radio Shack in play?

10 reasons why this is not a bull market.

The ratings agencies pulled off the perfect crime. Where’s the outrage?

on Macau

Hey PIG nations, here come the U.S.A.

Courtney Love isn’t the only shooting star.

On Greece: Kohl would have done the same thing.

Shia LaBeouf “pumps” oil and plays some momentum.

Where will the new jobs come from?

Say it ain’t so- “24” calls it a wrap.

Classic Bill Withers.

City of Chicago to modernize outdated graft programs-it’s only right.

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