VIX Index Remains in Bullish Territory, $BPNYA Still Defensive

The market has remained relatively calm despite the correction
in the S&P500 since the election.  The VIX (Volatility Index)
is still in bullish territory.

Meanwhile, the NYSE Bullish Percent Index Continues to
flash Bull Market Correction since November 12.

New Team in China

Besides the new General Secretary, Xi Jinping, the other six members of the Standing Committee are: Comrade Li Keqiang, Comrade Zhang Dejiang, Comrade Yu Zhengsheng, Comrade Liu Yunshan, Comrade Wang Qishan, and Comrade Zhang Gaoli.

Comrade Li Keqiang served as a Standing Committee member of the Political Bureau of the 17th CPC Central Committee while other comrades served as members of the Political Bureau of the 17th CPC Central Committee.

http://www.businessweek.com/ap/2012-11-14/xi-jinping-takes-helm-of-china-amid-reform-calls

http://www.ft.com/intl/cms/s/0/8de22556-2eca-11e2-8bb3-00144feabdc0.html#axzz2CIrBGdlg

Transcript of Xi Jinping's speech

http://www.bbc.co.uk/news/world-asia-china-20338586

Market Correction Lowers Most Boats

The important indicator of market direction, NYSE Bullish Percent Index, showed "Bull Correction" on Monday, November 12.  Defence!

Homebuilders Not Holding Up

Pulte gave a sell signal yesterday.  MDC flashed sell on Friday.

Fiscal Cliff Equals Recession--AEI Pie Chart and PIMCO's Latest Analysis

http://www.pimco.com/EN/Insights/Pages/After-the-Election-Fiscal-Cliff-Outcome-May-Surprise.aspx

Home Builders Holding Up

Hovnanian Enterprises (HOV) did especially well today, despite the strong market selloff.  We still have Obama.  We still have QE3.  Homebuilders may continue their rally.  PHM, KBH, TOL, HOV, etc.  Just a thought.

Take Your Lumps--Exit Coal as Gracefully as You Can

We re-elected the coal killer.  Enough said.

Beyond Bernanke

An essay from PIMCO, looking beyond the event horizon.

http://www.pimco.com/EN/Insights/Pages/What-Would-Happen-at-the-Fed-Under-a-Romney-Presidency.aspx