6/13/08

Economics

More bad news in housing:

http://bigpicture.typepad.com/comments/2008/06/foreclosures-up.html

The results of the latest survey of economists on economic growth and recession:

http://bespokeinvest.typepad.com/bespoke/2008/06/consensus-econo.html

A look at the recent volatility in oil prices:

http://bespokeinvest.typepad.com/bespoke/2008/06/oil-like-nothin.html

Take a look at this statistical comparison of the tech, housing and oil price run ups:

http://bespokeinvest.typepad.com/bespoke/2008/06/nasdaq-vs-homeb.html

A return to stagflation?

http://www.realclearpolitics.com/articles/2008/06/the_return_of_stagflation.html

Politics

Domestic

Earmark reform. Too good to be true?

http://www.clubforgrowth.org/2008/06/is_an_earmark_moratorium_comin.php

The mind set of environmentalists:

http://www.lewrockwell.com/blog/lewrw/archives/013117.html

And McCain on ANWR:

http://article.nationalreview.com/?q=NTM2NzI5MmU5NTUwYzZjYTYxYWMxNjZhOWQ2NjNhODk=

Ever seen ANWR? Have a look:

http://mjperry.blogspot.com/2008/06/anwr-one-of-bleakest-most-remote-places.html

And finally, these thoughts from Victor Hanson:

http://article.nationalreview.com/?q=Y2NjMTAxYmVkNjdiMjM2OWVkYzVmMWMyOTEyNDg0MzM=

International War Against Radical Islam

Obama and McCain on Iraq:

http://www.washingtonpost.com/wp-dyn/content/article/2008/06/12/AR2008061203474.html?sub=AR

The Market

Technical

A look at Market breadth:

http://bespokeinvest.typepad.com/bespoke/2008/06/percentage-of-1.html

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From a technical standpoint, we were no better off at the end of day yesterday than we were the day before. The DJIA (12141) was still below its April 2008 low (12263) with the only visible support at 11635. On the other hand, the S&P (1339) remains well above its April 2008 low (1325) and the lower boundary of it 1982 to present up trend (1317). My unease with this technical divergence is increased by Market action yesterday--rebounding early in the day from Wednesday’s depressing action, then faltering late in the day. On a technical basis, my inclination is to continue to do nothing till we get come clarity in the DJIA behavior.

Fundamental

That said, the schizophrenic nature of the stock price action is pushing me to take profits in those stocks that continue to rise in (above) their Sell Half Range.

Subscriber Alert

Go to www.strategic-stock-investments.com to see what we are buying/selling today.

CNBC Million Dollar Portfolio Challenge

Portfolio 1 (85.6%): Sold: none

Bought: none

Positions: Automatic Data Products, 3M, Nucor,

Canon

Portfolio 2 (86.4%): Sold: Nike

Bought: Best Buy

Positions: Franklin Resources, Graco, Nokia,

Best Buy

Portfolio 3 (91.6%): Sold: none

Bought: none

Positions: Nucor, Ross Stores. ConocoPhillips, Federated Investors

Portfolio 4 (79.6%): Sold: none

Bought: none

Positions: Donaldson, Blackrock, Peabody Energy, Walgreen

News on Stocks in Our Portfolios

A neutral to negative write up on Nokia (Dividend Growth Portfolio):

http://www.thestreet.com/p/_htmlrmm/rmoney/semiconductors/10420990.html

A positive write up on Walmart (Dividend Growth Portfolio):

http://www.thestreet.com/p/_htmlrmm/rmoney/retail/10420725.html

A positive write up on ConocoPhillips (Dividend Growth Portfolio):

http://www.zacks.com/newsroom/commentary/index_pdf.php?id=7843

A negative write up on Abbott Labs (Dividend Growth Portfolio):

http://www.thestreet.com/p/_htmlrmd/rmoney/pharmaceuticals/10421070.html

A positive write up on Brown Forman (Dividend Growth Portfolio):

http://www.bloggingstocks.com/2008/06/12/brown-forman-corporation-bf-b-price-cycles-in-bullish-flag/

More Cash in Investors’ Hands