It’s been a couple weeks since the last market review.  At the time, the market was showing some signs of weakness, but ultimately the bears were unable to grab any control.  The profit taking was mild to say the least and the major indices bounced off the first levels of support (the bottom of their upward trendlines) and charged higher, keeping the trend intact.  Technically, there is currently no reason to believe the trend can’t hold.  The market continues to look very strong heading into what is typically the strongest time of the year for the market.  The major indices remain firmly in their upward trends with some room to run before hitting resistance.

On the economic front, traders are turning their attention from inflation fears to "is the economy slowing too much".  At this point, it doesn’t appear to be curbing the spending habits of consumers but that could change.

::: Model Portfolio Update :::

Following a week in which the Model Portfolio rose nearly 4%, it was a bit of a ho hum week this week as the portfolio pulled back a bit.  Despite hitting a rough patch in the past few weeks, the YTD performance remains at a respectable 17.5% return.  The strategy of the portfolio has changed a little recently as I aim to capitalize on profits in shorter time frames – there were four new quick strike profit plays intitiated this week.  I’m not willing to ride most positions up at these levels, nor am I willing to to leverage with the aggressive use of margin (although I have been dipping into margin just a bit).  On the short side, I was forced to cover 3 positions in the Semis Holders (SMH), American Medical (AMMD) and Claires Stores (CLE).. the combined trades basically amounted to a wash.  I still continue to hold one short trade holding its gain and may initiate one or two more should the market show any signs of deterioration. 

::: Best/Worst Performers :::

– Top 10 Performing Industries For the Week –

1. Sporting Goods Stores                     9.05%
2. Residential Construction                   8.85%
3. Major Airlines                                    7.95%
4. Semiconductor – Memory Chips        7.85%
5. Drug Related Products                      7.85%
6. Medical Practitioners                         6.65%
7. Manufactured Housing                      5.75%
8. Regional Airlines                                5.70%
9. Education & Training Services           5.58%
10. Semiconductor – Equip & Mat.          5.45%

– Top 10 Worst Performing Industries For the Week –

1. Gold                                                       -4.00%
2. Copper                                                  -3.49%
3. Personal Products                                -3.40%
4. Industrial Metals & Minerals                  -3.39%
5. Silver                                                    -3.35%
6. Nonmetallic Mineral Mining                    -2.70%
7. Printed Circuit Boards                          -2.45%
8. Specialty Retail – Other                        -2.20%
9. Oil & Gas Drilling/Exploration                -2.00%

– Top 5 Best Performing ETFs For the Week –
 
1. Ishares Home Construction (ITB)           7.50%
2. SPDR HomeBuilders (XHB)                     7.15%
3. HLDRS Broadband (BDH)                       5.70%
4. HLDRS Semiconductor (SMH)                5.05%
5. Ishares Semis (IGW)                              5.00%

– Worst 5 Performing ETF’s –

1. Central European & Russia Fund (CEE)          -5.05%
2. ASA Gold (ASA)                                             -5.00%
3. U.S. Oil Fund (USO )                                       -4.45%
4. Market Vectors Gold Miners (GDX)                -4.40%
5. Ishares South Africa (EZA)                            -3.40%

:::  IPO’s Worth Watching for This Week :::

1. AerCap Holdings (AER): sells and provides aircraft management, engine maintenance, and aircraft repair and disassembly services to about 100 customers in 50 countries.  The company is making good money, but growth isn’t exceptional.  Set to start trading Tuesday.

2. Spirit AeroSystems (SPR):  independent non-OEM designer and manufacturer of aerostructures. The company provides structural components such as fuselages, propulsion systems, and wing systems for commercial and military aircraft.  Trading set to start Tuesday.

3.  Wildan Group (WLDN):   provider of outsourced services to small and mid-sized public agencies in California and other Western states. The company operates a network of over 20 offices offering outsourcing services for civil engineering, building and safety services, geotechnical engineering, financial and economic consulting, and disaster preparedness and homeland security.  Set to start trading this week.

4. North American Energy Partners (NOA):  Canada-based provider of resource services to primarily Canadian oil and natural gas producers and other natural resources companies. The company offers mining and site preparation, as well as piling and pipeline installation services. Trading set to start Wednesday.

::: Upcoming Economic Reports (11/20/06- 11/24/06) :::

Monday:        Leading Indicators
Tuesday:       Retail Sales
Wednesday:  Consumer Sentiment (Final), Petroleum Status, Mortgage Apps, Jobless Claims
Thursday:      None
Friday:           Money Supply

::: Notable Upcoming Earnings Reports I’ll Be Watching This Week :::

Tuesday: Coldwater Creek (CWTR), Ituran Location and Control (ITRN), Brocade (BRCD)

::: Latest Blog Entries – In Case You Missed Them! :::

– SelfInvestors Blog –

None

** Anything you’d like to see in this report or have suggestions?  Just hit your reply button and respond.  I’m all ears!