Monday Morning Chartology: plus more data on this quarter's 'beat' rate
Steve Cook on Disciplined Investing

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Economics

   This Week’s Data

   Other

    A look a world wide manufacturing activity (short):
    http://mjperry.blogspot.com/2009/10/worldwide-recession-is-over.html

    The latest data on foreign purchases of US Treasuries (medium):
    http://www.zerohedge.com/article/detailed-look-tic-flows-august-treasury-purchases-china-japan-and-uk-drop-lowest-total-year-

Politics

  Domestic

The budget gimmicks in the Baucus bill (medium):
http://www.nypost.com/p/news/opinion/opedcolumnists/max_budget_gimmick_magic_P0Yk05WHnje84Sqvnf9FKI

  International War Against Radical Islam

The Market
    
    Technical

    Update from TraderFeed (short):
    http://traderfeed.blogspot.com/2009/10/indicator-update-for-october-19th.html

    Monday Morning Chartology







   Fundamental
   
     Headlines

   
Friday’s revenue scoreboard: GE EPS better than expected but revenues worse; Bank of America, everything was lousy; Genuine Parts profits better than estimates, sales down but slightly better than forecast; Halliburton surpassed both earnings and revenues expectations.    

    One of the reasons analysts are focusing on revenue growth is because earnings improvement derived from cost cutting can’t last forever.  A corollary to that thesis future earnings increases (i.e. guidance) must come from revenue growth.  Here is the scoreboard on future guidance given by companies this quarter (short):
    http://bespokeinvest.typepad.com/bespoke/2009/10/guidance-wow.html

    And the earnings ‘beat’ rate as of Friday (short):
    http://bespokeinvest.typepad.com/bespoke/2009/10/eps-beat-rate-at-85.html

    News on Stocks in Our Portfolios

    Genuine Parts (Dividend Growth and High Yield Portfolio) reported third quarter operating earnings per share of $.67 versus expectations of $.65 and $.81 recorded in the comparable 2008 quarter.









Posted 10-19-2009 8:34 AM by Steve Cook