MARKET COMMENT
November 15, 2006

Pundits [bulls] interpreted Fed minutes released today to
mean everything is in balance—interest rates won’t hurt the economy and
inflation is contained. Raising interest
rates from 1% to 5% is not a big deal is it?
It really doesn’t matter anyway since bulls still have the
ball and they’re putting on a Globetrotter’s performance.
It was noted yesterday that the Gates Foundation purchased
$188M worth of homebuilder stocks in the last quarter. That’s a lot of sawdust!

Folks wonder sometimes why we post the same charts all the
time. It’s because these usual suspects
are where trouble can emanate.







Other markets that interest us include:














Someday, maybe even tomorrow, we’ll look at these charts and
not see anything this bullish. But,
until that day, enjoy!
We’re posting tonight or tomorrow another podcast featuring Tim Meyer, ETF Business Manager, Rydex Investments as we discuss
their new Equal-Weight S&P Sector ETFs which were
released last week. You may view it free
of charge on our homepage.
Have a pleasant evening.
Disclaimer: The ETF
Digest maintains positions in: IEF, GLD, SPY, DVY, PZJ, PZI, IBB, IEV, EWL, EEM
ILF, CEF, IFN, TRF, EWM and FXI.