Monday, April 1, 2013

Monday Morning Chartology


The Morning Call

4/1/13

The Market
           
    Technical

     Monday Morning Chartology

The S&P remains in its short and intermediate term uptrends but has yet to challenge its former all time high (1576) (the purple line).


           
            GLD remains solidly within its short term downtrend.  However, the developing support level continues in place.
  




            The VIX continues to trade well within its short and intermediate term downtrends.




            Over the weekend, I played around with our internal indicator and found something interesting.  First, when our stocks are run against their all time highs: in a 144 stock Universe, 101 are above those highs, 26 are not and 17 are too close to call.  So they continue to tell us that our Universe has broken out to the upside.

            However, when I run a study comparing our stocks to their highs of the last three months: 56 are above those highs, 67 are not and 21 are too close to calls.  In other words, our Universe appears to have lost momentum and is starting to roll over.
           

            Another bullish technical indicator (short):

            Update on ‘the best stock market indicator ever’ (short):

    Fundamental
           
            Leading expert on sovereign debt restructuring on Cyprus and what is next (10 minute video---must watch):

            Why the Cyprus template helps get rid of too big to fail (medium):

            The Cyprus bailout from a somewhat different perspective (medium):

            Cyprus, who knew? (short):

            Russia launches large naval operation in Black Sea (medium):

            More on valuation (medium):

            And:

            Morgan Stanley on the not so record profits (medium):

            Another blow to the dollar’s reserve currency status (medium):

     Investing for Survival

            The argument for physical delivery:


      News on Stocks in Our Portfolios courtesy of Seeking Alpha

Accenture (ACN):
 FQ2 EPS of $1.00 beats by $0.03. Revenue of $7.1B beats by $0.03B.
Paychex (PAYX): FQ3 EPS of $0.4 beats by $0.01. Revenue of $593.3M beats by $0.7M

Economics

   This Week’s Data

   Other

            Update on inflation (medium):

Politics

  Domestic

  International War Against Radical Islam









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.

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