Monday Morning Chartology & Subscriber Alert

The Morning Call

9/9/13

The Market

           

    Technical

      Monday Morning Chartology

            After trading below the lower boundary of its short term uptrend for the requisite time, the S&P popped back above that boundary and has stayed there.  Although just barely.  I didn’t make the call for a re-set to a trading range; and I am sticking with that judgment.  However, I think that the S&P’s short term trend is very much in question.

            GLD traded near the lower boundary of its very short term uptrend and then bounced---something I find positive.  Note also it has traded through the upper boundary of a very short term downtrend.  Yet it remains within its short and intermediate term downtrends.  Nonetheless, at the open this morning, our Portfolios will Buy a very small (1%) initial position in GLD.

            The long bond attempted to breakout of its short term downtrend, but quickly fell back.  It also remains within its intermediate term downtrend.

            The VIX remains in its short term trading range and provides little help in assessing Market direction.

            Update on ‘the best stock market indicator ever’:

            http://advisorperspectives.com/dshort/guest/Carlucci-Short-Update.php

    Fundamental

    

     

      News on Stocks in Our Portfolios

 

Economics

   This Week’s Data

   Other

            Earned income proxy at new high (short):

            http://blog.yardeni.com/2013/09/earned-income-proxy-at-new-high-excerpt.html

            Amazing labor market fact (short):

            http://gregmankiw.blogspot.com/2013/09/a-striking-labor-market-fact.html

Politics

  Domestic

College textbooks are an integral part of the student loan bubble (short):

http://www.aei-ideas.org/2013/09/chart-of-the-day-the-college-textbook-bubble/

  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 Investing For Survival is to help other investors build wealth and benefit from the investing lessons he learned the hard way.