4/18/08

Economics

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

http://www.washingtontimes.com/article/20080416/COMMENTARY/219315593/1012

a rising tax and regulatory burden (Government has never proven that it could solve economic problems efficiently or satisfactorily.) W on global warming:

http://corner.nationalreview.com/post/?q=MzhmYzVkZTE4ZTAzMjQ2ZGVlYjVkOTFhN2I0MzFiYjI=

A response:

http://www.american.com/archive/2008/april-04-08/the-new-dissidents

Barry Ridholtz on yesterday’s CPI number:

http://bigpicture.typepad.com/comments/2008/04/cpi-revisions.html

A chart reflecting the Chinese devaluation of the yuan:

http://mjperry.blogspot.com/2008/04/15-depreciation-of-usd-vs-chinas-yuan.html

The growing importance of services in our economy:

http://mjperry.blogspot.com/2008/04/dallas-fed-selling-our-services-to.html

Politics

Domestic

On judicial appointees (must read):

http://article.nationalreview.com/?q=MjAwZmQ1NGY4ZjNlM2M4NDhmYjkwZDBmZTg3MTZhMDk=

International War Against Radical Islam

John Bolton on the impending deal with North Korea:

http://online.wsj.com/article/SB120821851545814633.html?mod=googlenews_wsj

The Market

Technical

A look at the S&P’s technicals:

http://bespokeinvest.typepad.com/bespoke/2008/04/market-internal.html

Fundamental

Subscriber Alert

The stock price of ExxonMobil (XOM-$93) has risen above the upper boundary of its Buy Value Range. Therefore, it is being Removed from the Dividend Growth Buy List. The Dividend Growth Portfolio will continue to Hold XOM.

http://finance.yahoo.com/q?s=XOM

The stock price of BP Ltd (BP-$68) has risen above the upper boundary of its Buy Value Range. Accordingly, it is being Removed from the High Yield Buy List. The High Yield Portfolio will continue to Hold BP.

http://finance.yahoo.com/q?s=BP

The stock price of Worthington Industries (WOR-$17) has traded below the upper boundary of its Buy Value Range. Therefore it is being Added to the High Yield Buy List. The High Yield Portfolio will not buy WOR stock at this time.

http://finance.yahoo.com/q?s=WOR

The stock prices of Accenture Ltd (ACN-$38.00) and Charles Schwab (SCHW-$21) have risen above the upper boundary of their respective Buy Value Ranges. Accordingly, they are being Removed from the Aggressive Growth Buy List. The Aggressive Growth Portfolio will continue to Hold these stocks.

http://finance.yahoo.com/q?s=ACN

http://finance.yahoo.com/q?s=SCHW

Aggressive Growth Buy List

Company Close 4/17 Buy Value Range

Abercrombie & Fitch $72.65 $67-77

Alcon 151.43 140-161

Donaldson 41.00 36-41

Ecolabs 46.57 43-49

Graco Co 38.18 36-41

Mastercard 230.50 218-250

Medtronic 49.55 44-51

Microsoft 29.22 26-30

SAP Inc 51.12 46-54

SEI Investments 24.84 22-25

Staples 22.34 20-23

News on Stocks in Our Portfolios

Pfizer (High Yield Portfolio) reported first quarter earnings per share of $.41 versus expectations of $.66 and $.48 recorded in the comparable 2007 first quarter. This was clearly a disappointing performance. The stock traded down but remains above its Stop Loss Price. I will be doing additional work on PFE.

http://finance.yahoo.com/q?s=PFE

Great news on Medivation (10 Bagger):

http://www.marketwatch.com/News/Story/Story.aspx?guid={F3DFC6A5-D6BB-4DD0-B836-32785B7AD653}&siteid=nbs

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