Monday Morning Chartology--2/25/13

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The Morning Call

2/25/13

The Market

           

    Technical

       Monday Morning ChartologyAs you can see, no technical damage was done to the S&P in last week’s selloff.  It remains solidly within its short and intermediate term uptrends.

           

GLD got trashed last week.  Despite a two day rally, it couldn’t even regain the lower boundary of its short term downtrend.

           

            The VIX continues to trade within a short and intermediate term downtrend---a plus for stocks.

            Update on ‘the best stock market indicator ever’:

            http://advisorperspectives.com/dshort/guest/John-Carlucci-Best-Indicator-Ever-Update.php

    Fundamental

    

            The five biggest lies on Wall Street (medium):

            http://www.marketwatch.com/story/the-5-biggest-lies-on-wall-street-2013-02-21

            An optimist’s view of the Market (medium):

            http://www.ritholtz.com/blog/2013/02/elasticity-markets-wealth-effects/

            The latest from David Rosenberg (medium):

            http://www.zerohedge.com/news/2013-02-22/david-rosenberg-goes-search-positive-exogenous-shock

            The quandary of negative real rates (medium):

            http://www.zerohedge.com/news/2013-02-24/yet-another-unintended-central-planning-consequence-running-stand-still

      News on Stocks in Our Portfolios

 

Economics

   This Week’s Data

   Other

Politics

  Domestic

Krauthammer on immigration (medium):

http://www.nationalreview.com/articles/341261/immigration-lesser-two-evils-charles-krauthammer

This week’s Time magazine looks at healthcare and its abuses.  Some of what follows is alarming but note the comment on the monopoly power of drug companies and their outrageous prices.  The author clearly doesn’t understand the rationale for patents.  The point here is that part of the article is good information, part is uniformed opinion (medium):

http://www.zerohedge.com/news/2013-02-22/bitter-pill-exorbitant-prices-health-care

The dumbing down on America (short/medium and a must read):

http://cafehayek.com/2013/02/minimum-grade.html

  International

            North Korea: preparing for war (medium):

            http://www.nakedcapitalism.com/2013/02/north-korea-preparing-for-war.html

Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.