T/A ETF AND INDEX

[shortterm]

Danger.... SPX worries me.

There is no question about us falling down soon. But it can start quite a bit higher. No question, the foundations of the "recovery" are fake, but that does not mean we cannot move significantly higher.

I don't believe in it, though, because we are facing the confessions season. There is a fundamental reason for this period being weak and it is the adjustment of expectations lower prior to the third quarter results so the companies can beat by a cent or two.

We urgently need something to kill the semis and tech stocks. DELL is expected to give a bad mid-quarter update which should be out any time soon, I just cannot find it (with the little effort that I have put into it) when do they give that. Oh, DELL closed up 3.36% or 0.71.

CSCO up 1.53% or 0.35. Daily MACD is getting very inviting for a short, though.

AAPL is just silly. Up 3.77%.

No question, it will all end up with tears, but it can take a lot longer than anyone expects. Or One single profit warning will bring it down.

Btw. as far as buying into high yield stocks, take a look at the tobacco producers.