6/23/08

Economics

Tax rates Clinton vs Bush:

http://gregmankiw.blogspot.com/2008/06/effective-tax-rates.html

Here is some interesting trivia on Al Gore’s electric bill:

http://mjperry.blogspot.com/2008/06/al-gore-energy-hog-do-as-i-say-not-as-i.html

Politics

Obama’s vote on Chief Justice Roberts:

http://hughhewitt.townhall.com/blog/g/54e1dc7e-9217-4772-9706-13a499b0b549

Domestic

An analysis of the (soon to be) new FISA law:

http://article.nationalreview.com/?q=ZTM1MjU4NjI0M2JiMjg2YmYxNGYwN2FiODg4NmZiOTg=&w=MA==

International War Against Radical Islam

The Market

Technical

The level of bearishness doesn’t appear to be high enough to signal a bottom:

http://www.marketwatch.com/news/story/towel-hasnt-been-thrown-yet/story.aspx?guid=%7BAF4600C4%2DD354%2D4A9F%2DBA58%2D9CB21630E33B%7D

Fundamental

Subscriber Alert

The stock prices of T Rowe Price (TROW-$60), Colgate Palmolive (CL-$70) and C.R. Bard (BCR-$88) have traded below the upper boundary of their respective Buy Value Ranges. Accordingly, they are being Added to the Dividend Growth Buy List. The Dividend Growth Portfolio already owns TROW and BCR. It does not own CL but no purchases will be made at this time.

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

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

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

A note on C.R. Bard. For long time subscribers, you know that BCR has been one of the best performing stocks in the Dividend Growth Portfolio. Indeed, the Portfolio has Sold (in value) more stock than was originally invested and it still owns a position that is now about 80% of a normal sized holding. The stock has traded down in this Market into its Buy Value Range. However, its yield is below the minimum 1.5% for initiating a position in the Dividend Growth Portfolio. Our Discipline waives that requirement for a long term holding. The Dividend Growth Portfolio will be looking to build this position back to a 3%.

The stock price of Proctor and Gamble (PG-$63) has traded below the lower boundary of its Buy Value Range. Therefore, it is being Removed from the Dividend Growth Portfolio. The Dividend Growth Portfolio will continue to Hold PG.

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

At the Market open this morning, the Dividend Growth Portfolio will Buy additional shares in United Technologies (UTX-$69), McGraw Hill (MHP-$43) and Automatic Data Processing (ADP-$43)

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

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

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

The stock price of Rayonier (RYN-$45) has fallen below the upper boundary of its Buy Value Range. Accordingly, RYN is being Added to the High Yield Buy List. The High Yield Portfolio already owns a position in the company. So further purchases will be made at this time.

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

At the Market open this morning, the High Yield Portfolio will buy additional shares of Martin Midstream Ptrs (MMLP-$33) and Nustar Energy LP (NS-$48).

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

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

CNBC Million Dollar Portfolio Challenge

Portfolio 1 (86.2%): Sold: none

Bought: none

Positions: Automatic Data Products, Johnson Controls, Nucor, Canon

Portfolio 2 (87.9%): Sold: none

Bought: none

Positions: Franklin Resources, Graco, United Technologies,

Mastercard

Portfolio 3 (91.4%): Sold: none

Bought: none

Positions: Nucor, Smith Int’l. ConocoPhillips, Mastercard

Portfolio 4 (81.9%): Sold: Dow Chemical

Bought: Colgate Palmolive

Positions: Suncor , Colgate Palmolive, Peabody Energy, General Dynamics

News on Stocks in Our Portfolios

More Cash in Investors’ Hands

CME Group announced a $1.1 billion stock buy back.