2/29/08

Economics

Another opinion on why we won’t have a recession:

http://www.thestreet.com/p/_htmlrmm/rmoney/marketcommentary/10405362.html

protectionism (Free trade is a major positive for world and US economic growth.).

http://online.wsj.com/article/SB120415972950898231.html?mod=opinion_main_review_and_outlooks

Politics

Domestic

Michelle Malkin and Mickey Kaus on the border fence (or lack thereof):

http://michellemalkin.com/2008/02/28/the-fence-to-nowhere/

http://www.slate.com/id/2185255/#katrinapotemkin

International War Against Radical Islam

The Market

Technical

On the assumption that this Market has not established a new uptrend and remains in a trading range, the price action of the DJIA this week suggests that for the moment, we should be looking at the November 2007 intraday low (12722) as the new upper boundary of a trading range (11622/11900-12722). For the S&P, we are watching three trends: (1) the longer term uptrend off the 1982 low [boundaries- circa 1269-1722], (2) the 2002-present trading range [750-1527] and (2) the trading range corresponding to the DJIA trading range [1268-1406].

A positive look at Market breadth:

http://bespokeinvest.typepad.com/bespoke/2008/02/a-positive-brea.html

Fundamental

The Dividend Growth Buy List

Company Close 2/28 Buy Value Range

Abbott Labs $54.22 $51-58

Clorox 58.67 56-64

General Electric 33.85 35-39

Genuine Parts 42.75 41-47

Johnson & Johnson 62.71 60-69

McGraw Hill 42.04 40-46

Proctor & Gamble 66.97 66-75

UPS 71.75 67-77

United Technologies 72.17 68-78

VF Corp 78.68 72-83

Subscriber Alert

The stock price of Accenture Ltd (ACN-$37) has traded above the upper boundary of its Buy Value Range. Accordingly, it is being Removed from the Aggressive Growth Buy List. The Aggressive Growth Portfolio will continue to Hold this security.

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