Monday Morning Chartology 8/22/11 & Subscriber Alert
Steve Cook on Disciplined Investing

Syndication

Have You Seen This?

News

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Have You Seen This?

The Market
    
    Technical

      Monday Morning Chartology

    The S&P is in a critical position.  If it bounces off the 1101 level and recovers above 1172, the Market will simply have endured a significant test.  Breaking 1101 suggests more downside (1041, 1009).




    You can clearly see the magnitude of GLD’s extension above its long term up trend.





    Here is another technical opinion:
    http://advisorperspectives.com/dshort/charts/large.html?guest/110819-Gold.gif

    The VIX is high but not rising versus the prior week.




    Fundamental
        
      Subscriber Alert
  

    The stock price of Boeing (BA-$57) has traded into its Buy Value Range.  Accordingly, it is being Added to the Dividend Growth and High Yield Buy Lists.  Both Portfolios own 75% positions in BA, so additional shares can be purchased--just not at this time.

    The stock prices of SEI Investments (SEIC-$16) and Donaldson (DCI-$49) have traded into their respective Buy Value Ranges.  Therefore, they are being Added to the Aggressive Growth Buy List.  The Aggressive Growth Portfolio does not own SEIC and may Buy shares later.  It owns a full position in DCI; so no additional shares will be purchased.

 
Economics

   This Week’s Data

    The Chicago Fed’s July national activity index came in at -.06, an improvement over June’s reading of -.38.
    http://advisorperspectives.com/dshort/updates/Chicago-Fed-National-Activity-Index.php

   Other

    This is a great must read piece whose premise is that when uncertainty increases the individual’s tendency is to invent patterns to explain it (think the current malaise):
    http://physicsoffinance.blogspot.com/2011/08/coping-with-chaos-with-false-certainty.html

    An update on the bail out of our banking system (short):
    http://www.zerohedge.com/news/visualizing-what-12-trillion-secret-fed-bailouts-banking-kleptocracy-looks

Politics

  Domestic

    Charles Koch responses to Warren Buffett’s call for the rich to pay more (short):
    http://www.powerlineblog.com/archives/2011/08/charles-koch-responds-to-warren-buffett.php










Posted 08-22-2011 8:19 AM by Steve Cook