– The Stock Market Companion –

15Minute Market Update

June 24, 2011

—— Stock Market Investing since the 1980’s ——

Published all Market Days
Monthly Subscription $29.95

[Download not found]

-Executive Summary-

  • Down.  The markets are weighing the uncertainties in the overall financial picture globally – Greece, slowing economic trends, and unclear monetary and political financial policy to come –  with the favorable underlying fundamentals of certain individual companies and the emerging less favorable picture unfolding at other companies.   Fedex, Corp. (Ticker: FDX) reported excellent earnings AND excellent forward guidance this week. Today however, Oracle’s (ORCL)  forward guidance AND Micron Technology’s (MU) earnings acted like a wet-blanket on the markets.  See below.

  • Shares of Micron Technology, Inc. (Ticker: MU) – a worldwide leading manufacturer of PC memory chips, headquartered in Boise, Idaho – disappointed investors on their earnings, due to weakening consumer PC demand.  They gave encouraging guidance related to smart phone and tablet PC demand.  Shares – now at $7.21/share, dropped -14.47% today and are down -38% from their 4/27 highs of $11.80/share.
  • Inability of financial stocks to lift-off their recent lows – like Bank of America – is troublesome for the overall markets.
  • Please click here to send us your feedback.  Let us know how we are doing – We are here to serve you. Support@Stockmarketcompanion.com

– Stock Market Companion – Current Holdings –

Nr. Co. Ticker Action Entry Date Current Gain (Loss)
1 Apple, Inc. AAPL Holding 6/20/2011 +3.3%
1 Research in Motion, Inc. RIMM Holding 6/23/2011 -0.7%
If the above “Current Holdings” table is empty it means that we are not holding ANY stocks at this time and that we are therefore 100% in cash.

– Markets “At a Glance” –

(Please scroll down to the end of the report to see your favorite benchmarks – Dollar, Oil, Gold … closing prices and daily direction.)

Market

Price (Today’s Close)

Unit of Measure

Today’s Direction

SP-500

1,268.45

Index

DOWN = -15.05 points

DOW-30

11,934.58

Index

DOWN= -115.42 points

NASDAQ

2,686.75

Index

DOWN = -33.86 points

NASDAQ 100

2,217.06

Index

DOWN = -37.99 points

– Market Trends –

Trend

SP-500

DJ-30

NASDAQ

NASDAQ 100

Short Term

UP

UP

UP

UP

Intermediate

Flat

Flat

Flat

Flat

Long Term

Lateral

Lateral

Lateral

Lateral

*Summary of terms from Trader Vic II-Principles of Professional Speculation (pg. 140-141)
*_________* Represents a change in trend rating.

– Market Perspectives –

For your added perspective, we’ve included this chart of the broader market (Successful stock investors develop and start with a minds-eye view of the broader market and keep it clear) –

1. SMC SP-500 ETF Daily Chart

(Click to open chart in a separate browser window).

– Today’s Highlights –

We are cautious.  The underlying fundamental (primarily corporate earnings, but also government measures of GDP, and acquisitions of companies at strong premiums to market prices) condition of the markets is very good.  Unfortunately the uncertainty that surrounds the markets is thick.  Greece and its troubles with carrying its debt (let alone reducing it), other European “rim” countries – such as Ireland with similar troubles, potential slowing in the global economy, impact of recent higher energy prices, ending of the quantitative easing program by the Federal Reserve, and political wrestling involving the U.S. debt ceiling is an extremely volatile mix.
Today – Greece and Europe was again in the cross-hairs, while improved first quarter U.S. gross domestic product (GDP) data and improved U.S. durable goods orders were ignored by the markets.

– Story-Stock Investing –

We have little to report today.  Our holdings Apple, Inc. (AAPL) and Research in Motion (RIMM) … marginally o.k.  – not great for sure.  Oracle’s (ORCL) forward guidance acted like a wet-blanket on the tech market today.
The U.S. dollar is attracting further interest as uncertainties in Europe continue to cause investors to seek safety in the relative stable nature of the greenback.   Gold closed down at approx. $1500/ounce as the U.S. dollar advanced.
As U.S. Treasury yields decline further, we may exit our stock holdings and simply head to the sidelines again soon.  The uncertainty may simply too great for navigating stocks – no matter the favorable fundamentals mentioned above.
On the other hand, some of our SMC Watchlist stocks like –
ONTY, SPRD, ZIXI, AKRX are all showing strong patterns.  ONTY is not buyable here for us.
U.S. financials – such as Bank of America (Ticker: BAC) – look terrible.  That does NOT bode well for the overall market.

 

At the Stock Market Companion we do not and cannot give individual investment advice. According to the State of Washington RCW 21.20.005 the Stock Market Companion is not a Registered Financial Advisor and we do not render any advice on the basis of the specific investment situation of a particular individual. This information is for a wide readership and is not intended for any particular individual,  and under no circumstances should our Market Update or Watchlist be considered an investment recommendation or plan for any specific individual.  By accessing this material, you agree that the Stock Market Companion will not be held liable for any actions taken by a subscriber or other parties.  Please seek the counsel of a broker or other licensed investment professional for accurate pricing and concerning the suitability of all investments that you may be considering. Disclosure : You understand that the Stock Market Companion holds positions in the above mentioned securities.  Based on market related or personal events these positions may change without notice.

– Stock Market Companion – Performance –

Please click on this chart to see the Stock Market Companion 15Minute Market Update stock performance versus the SP-500.  It insert will insert open in a separate browser window.

* Gains (losses) do not include brokerage fees.   Our returns are very strong … BUT …  WE have to remind everyone just like all other financial sites in America – Past Performance is No Guarantee of Future Returns.  Unlike others however, our objective is to teach you to be able to make these types of strong returns On Your Own.

All of the investments – stocks, entries, and exits are listed on our Stock Market Companion Watchlist at the bottom of the spreadsheet, in the section labelled Former Holdings.

– Benchmarks “At a Glance” –

US Dollar

1.4187 USD = 1 Euro

USD / EUR

Dollar = UP More

Gold

$1,500.90

Ounce

Gold = DOWN

Oil

$91.23

Barrel (West Texas Crude)

Oil = DOWN

30 Yr. Fixed Mortgage

4.69%

Percent

Flat

10 Yr. Bond Yield

2.87

Percent

Flat

1 Yr. CD

1.16

Percent

Flat

Data Source : Financial Visualizations Inc.

Please help us by sending your valuable feedback to – Support@stockmarketcompanion.com

Signing-Off for Today,

Your -Stock Market Companion

** Stock Market Companion Disclaimer **

The Stock Market Companion (SMC) Market Update and Watchlist are published documents to subscribers that show how we (SMC) are viewing the markets and what we are watching, investing in or selling today.  This information is for a wide readership and is not intended for any particular individual,  and under no circumstances should this Market Update or Watchlist be considered an investment recommendation or plan for any specific individual.  By accessing this material, you agree that the Stock Market Companion will not be held liable for any actions taken by a subscriber or other parties.  You understand that the Stock Market Companion holds positions in the above mentioned securities.  Based on market related or personal events these positions may change without notice.

Furthermore, the Stock Market Companion, Inc. is a content provider and publisher and not a registered broker-dealer or licensed investment professional.  Our intent is to publish very accurate market information for an audience of subscribers (1000+ subscribers).  By accessing the Stock Market Companion website and/or using the Stock Market Companion products and services such as this Market Update and accompanying Watchlist, you understand and agree that the material provided in the Stock Market Companion products and services is for informational and educational purposes only, and that no mention of a particular security in a Stock Market Companion product or service constitutes a recommendation to buy, sell, or hold that or any other security, or that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person.  To the extent any of the information contained in any Stock Market Companion product or service may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.  Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional to verify pricing information and to solicit advice as to the appropriateness of a given transaction or investment.

  • The markets were AGAIN divergent today, just as yesterday revealing further weakness in the technology sector while the broader market (S&P 500) and the DOW (DJ-30) held POSITIVE.
  • Research in Motion (Ticker: RIMM $27.75) reported earnings last night that were a major disappointment.  We go through the details below.  The company received 2 broker upgrades going into earnings.  The stock then lost -21.45% from yesterday’s close into today.  We go through our steps in handling our brief investment in the stock this last week – AND WHY, below.
  • Crude oil continued to descend today, reflecting a drop in value of the U.S. dollar – BUT also  concern of future demand as the global economy slows down.
  • The S&P 500 is finding support at its 200 day exponential moving average.  If the broader market doesn’t find strength here and begins to sink further, the next near point of support is the low it plumbed during the recent nuclear crisis in Japan.  If it fails that point, then the intermediate term trend will be DOWN.
  • Please click here to send us your feedback.  Let us know how we

Categories: Archives, Daily Updates
Tags:

Comments are closed.