2/15/08

Economics

Global good news:

http://bespokeinvest.typepad.com/bespoke/2008/02/signs-of-strong.html

Good news on housing:

http://mjperry.blogspot.com/2008/02/detroit-real-estate-boom.html

And it just keeps on coming:

http://mjperry.blogspot.com/2008/02/ignore-obituaries-us-reign-will-endure.html

You can’t make this stuff up--global warming is responsible for global cooling:

http://www.thestandard.com.hk/news_detail.asp?pp_cat=11&art_id=61512&sid=17581089&con_type=1

Another look at the retail sales numbers released Wednesday:

http://mjperry.blogspot.com/2008/02/real-retail-sales-suggest-slowdown-not.html

Politics

Domestic

Obama on education:

http://www.slate.com/id/2184259/#obamanea

International War Against Radical Islam

The Market

Technical

In yesterday’s Morning Call I observed that old support levels (12500 and 12562) tend to become the new resistance levels--and it looks like that old rule of thumb held, at least as defined by yesterday’s Market action. So on a very short term basis, I think we watch circa 12500 (12511--August 2007 intra day low, 12577--intersection of the lower boundary of the 1982 to present up trend line) on the upside and 11630 (January intra day low) or 11920 (January low close) on the downside. For the S&P the near term resistance is the August intra day low (1370), with support at 1287 the level of the lower boundary of the 1982-present uptrend.

Fundamental

Cramer’s thoughts on the monoline insurance problem:

http://www.thestreet.com/p/_htmlrmd/rmoney/jimcramerblog/10403610.html

Citigroup suspends redemptions in a sub prime hedge fund:

http://www.bloggingstocks.com/2008/02/15/citigroup-blocks-withdrawals-from-a-hedge-fund/

Subscriber Alert

I want to continue to nibble away at stocks when they get whacked; so today at the Market open: the Dividend Growth Portfolio will Buy 1/5 position in United Technologies (UTX-$73); the High Yield Portfolio will buy a 1/5 position in Rayonier (RYN-$42); and the Aggressive Growth Portfolio will Buy a 1/5 position Sun Hydraulics (SNHY-$23).

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

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

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

News on Stocks in Our Portfolios

A look at CME Group (Aggressive Growth Portfolio):

http://www.thestreet.com/p/_htmlrmd/rmoney/wallstreet/10403566.html

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