Monday Morning Chartology

The Morning Call

3/24/13

The Market

           

    Technical

     Monday Morning Chartology

            The S&P remains in uptrends across all timeframes, even though the vast majority of stocks in our Universe do not.

            The long Treasury rebounded on Friday. It remains within a short term trading range and is fighting downside follow through from a triple top.  It is also in an intermediate term downtrend and above its 50 day moving average.

            GLD bounced off the lower boundary of its very short term uptrend.  If Monday is another up day, our Portfolios will likely start to nibble.  But our positions will remain small until it breaks out of its short term downtrend.

          

  The author of this piece fails to recognize the difference between a price high and valuation high (medium):

            http://www.thereformedbroker.com/2014/03/21/new-all-time-highs-3/

            Update on ‘the best stock market indicator ever’:

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

    Fundamental

    

            Barry Ritholtz on the success of QE (medium):

            http://www.ritholtz.com/blog/2014/03/the-counter-factual-the-feds-qe/

            The latest from James Montier (medium and a must read):

            http://www.zerohedge.com/news/2014-03-21/james-montier-market-overvalued-50-70-and-nothing-all-attractively-valued

            ***overnight The Chinese and EU March flash PMI’s fell from their February reading.  More:

            http://www.zerohedge.com/news/2014-03-23/china-affirms-yellens-six-month-guidance-says-not-expect-any-big-stimulus-out-beijin

     Investing for Survival

            The importance of asset allocation (medium):

            http://www.capitalspectator.com/you-cant-avoid-asset-allocation-even-if-you-try/#more-3372

           News on Stocks in Our Portfolios

 

Economics

   This Week’s Data

            The Chicago Fed National Activity Index came in at .14 versus expectations of .10

            http://www.calculatedriskblog.com/2014/03/chicago-fed-economic-activity-increased.html

   Other

Politics

  Domestic

Quote of the day (short):

http://cafehayek.com/2014/03/quotation-of-the-day-939.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CafeHayek+%28Cafe+Hayek%29

  International

            The reasons for Putin’s decision on Crimea (medium):

            http://www.zerohedge.com/news/2014-03-23/interpreting-putins-decision

            More foreign policy success (medium):

            http://www.zerohedge.com/news/2014-03-23/guest-post-hydraulic-fracturing-saudi-arabia

                Venice votes to secede from Italy (medium):

            http://www.zerohedge.com/news/2014-03-23/89-venetians-vote-independence-italy-will-withhold-taxes-rome

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.