“Executive Summary” from Today’s Stock Market Companion 15Minute Market Update

  • The equities markets and the U.S. dollar were thrown under the bus today.  Ugly.
  • The catalyst for today’s negative market performance was the U.S. Bureau of Labor’s Nonfarm Payroll report.  Jobs aren’t being created anywhere near what is needed to improve the economy, or at a rate that would be expected at this point in a supposed “recovery”.  See below.
  • Can we not simply say that the U.S. government’s approach of simply throwing money at the economy for the past two years has been a failed policy?  Up until QEII, we feel that the Federal Reserve has done a good job at providing meaningful stimulus, but not the U.S. congress and executive office.  Now things are simply a mess. The U.S. government (executive office and congress) has not passed suitable policy to lower business taxes, encourage employment, and stimulate job creation within our borders, while taking the courageous actions needed to cut entitlement spending and liabilities.  The first-time home buyer’s tax credit was a success.  Unfortunately, with Obamacare, the U.S. government has gone dramatically in the opposite direction = another unfunded liability that causes employers to think again about hiring.  Both parties are at fault.  Without real leadership and hard decisions we are not going to see a meaningful turnaround.  It is possible.  Consider – Since last summer, the U.K. prime minister Mr. Cameron is steering his country to cut government spending by 40%.  That’s leadership.
  • Fortunately, there are more growth stock stories to come.
  • WalMart announced at $15 Billion stock repurchase program.  We “think out loud” below to a conclusion about this.  Have your pencil and calculator ready and follow along with our calculations.
  • The SPY (S&P 500 ETF) is getting close to near term support and has been down 5 weeks running.
  • Here’s what has our attention – ZAGG is holding up quite nicely in the face of the market weakness.  So too is – MMI (Motorola Mobility); AMRN = Simply quiet today.; Soda quiet as well; APKT = holding on well.  FCEL too.  If HPQ doesn’t punch down below $36, we may get interested again – for a bounce.

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