M3 "MONEY SUPPLY"

According to McHugh (going paid sub MArch)

M3 FELL $24.B last week and is down $49.4 B last 2 weeks. IS "EASY AL" finally coming off the gas?

It seems to me, this is coinciding nicely with the FIB turn dates we discussed for a PoTENTIAL TOP by MArch 8th, as we are rallying into the date, should it still hold water.

OIL STEEL GOLD BONDS everything looks overbought to me. Some suggest buying the DOGS OF THE DOW to overperform in 2005, MRK PFE SBC JPM and GE head that list, overperform could mean they fall less. IMHO

My Bond portfolio tracker of 7 funds rebounded from low of $2,200 to about $3,800. HIgh a few weeks ago was $6,500.

As SAFE as Bonds seem to be, we KNOW how manipulated the long rate has been, it may not happen, but the fuel is there for a HUGE spike in rates, presently we are looking for a move near 4.4% 10 yr before any significant reatrace.

As with all indexes, nary a straight line ever seen, but is OIL looking like its BLOWING OFF into at least a near term top?

No weakness in CHinese tracker FXI, not homebuilders neither, even as FRE and FNM have CRACKED WIDE OPEN, market seems not to care.

WMT within pennies of 52 week lows, and WHO else is even seeing that? I ask what does it mean. I expect WMT totally some here, a crack below 52 week would add to caution I already mention.

SUch a V bounce from a panic 175 pt selloff, odd indeed. Coming into the turn now, my SPidey senses on FULL ALERT

That's all until something worhtwhile develops, all need their rest. Worst case, will be writing sometime next Saturday.

Duratek