Update for Friday, January 15, 2010

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1. "Don’t Get Stuck In A Range"

2. "Thoughts On Utility Funds"

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4. "Which ETFs Will Lead—On The Way Down?"

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THE LINK TO OUR CURRENT MUTUAL FUND/ETF STATSHEET is:

http://www.successful-investment.com/StatSheet/SS011410.htm

This StatSheet is updated through Thursday, January 14, 2010.
The next scheduled update will be Thursday, January 21, 2010.

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Friday, January 15, 2010

BANKZILLA STRIKES

Besides the usual volatility on options expiration day, it was the JP Morgan Chase's fourth quarter earnings report that disappointed and caused a broad sell off today. The week ended with a thud, and all major indexes lost; although things could have been a lot worse had it not been for a claw back during the last two trading hours.

For the week, the Dow gave back a scant 0.1% while the S&P 500 and Nasdaq surrendered 0.8% and 1.3% respectively, which turned out to be the worst day of this 2-week old new year.

The CPI rose slightly and in line with expectations and other economic reports (manufacturing, industrial production and consumer sentiment) were non-events and had no influence on market direction.

Our Trend Tracking Indexes (TTIs) changed slightly, but they remain solidly above their long-term trend lines by the following percentages:

Domestic TTI: +6.11%
International TTI: +9.28%
Hedge TTI: +0.72%

The market will be closed Monday in observance of the Martin Luther King Day, but more economic reports will be due out starting Tuesday. We will be facing Housing Starts, PPI and Leading Indictors just to name a few.

More important will be the earnings season and disappointments or poor guidance will likely lead to punishment. Depending on the company doing the reporting, this could be sector specific or affect the entire market as we've seen today.

A correction is long overdue and only time will tell if today was a one-day wonder or the beginning of something more serious.

Have a great week.

Ulli...

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Until next week.

Ulli...

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Ulli G. Niemann
Registered Investment Advisor
714.841.5804 Toll free: 866.580.6764
http://www.successful-investment.com
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