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Bill Miller vs. Adam Monk: The Monkey Wins Again
Adam Monk is the Chicago Sun-Times’ stock-picking monkey.
As of the close today, Mr. Monk’s four-year market-beating streak has been snapped. His 2007 stock picks returned 3.72% this year compared to the S&P 500’s total return of around 5.8%.
But wait, Mr. Monk can still hold his head up high because for the second year in a row, he has beaten the legendary (and I suspect, notorious index hugging) Legg Mason Value Trust run by Bill Miller. LMVTX is down 6.1% on the year.
Mr. Monk has made his stock picks for 2008: MVL, WCG, TWC, ATHR and [...]
Stocks to Watch for Wednesday
The stock scan conducted after the close on Monday found 5 winners and 19 losers. Click on the column headers to sort the table below.
[TABLE=18]
Our scan criteria incorporates price movement, range and liquidity (500,000 shares on the day, 20-day average of 1.5 million). The list is ranked and sorted by performance against the S&P 500 and the NASDAQ 100 indexes, from best to worst.
Become a client, and get the buy and sell signals for each of these stocks, along with ranked and sorted lists of the largest 300 ETFs by assets under management, the constituent [...]
Price, Volume and Momentum: Did the Chicken Granger-cause the Egg?
Months of turmoil are finally taking a toll on individual investors:
The Investment Company Institute reported on December 27 that “funds that invest primarily in the US had an outflow of $15.34 billion in November, vs. an outflow of $3.73 billion in October.”
In November, Canadian Press reported that “Canadian stock funds suffered another month of net redemptions, booking a $334.1-million net outflow during a month when the benchmark S&P/TSX composite index tumbled 936 points or 6.4 per cent.”
Bob Pisani comments on price movements in relation to volume every day on CNBC. Most books and magazine articles on technical analysis incorporate [...]
Stocks to Watch for Monday
The stock scan conducted after the close on Friday found 14 winners and 35 losers. Click on the column headers to sort the table below.
[TABLE=16]
Our scan criteria incorporates price movement, range and liquidity (500,000 shares on the day, 20-day average of 1.5 million). The list is ranked and sorted by performance against the S&P 500 and the NASDAQ 100 indexes, from best to worst.
Become a client, and get the buy and sell signals for each of these stocks, along with ranked and sorted lists of the largest 300 ETFs by assets under management, the constituent [...]
Weekend Media Digest
Greenspan Denies Responsibility for Housing Bubble
Alan Greenspan, the former chairman of the Federal Reserve, insists the housing bubble had relatively little to do with him. After guiding the economy for 19 mostly prosperous years he now faces criticism for drastically lowering interest rates. Greenspan discusses economics and his tenure at the Fed with Steve Inskeep for the Morning Edition series, The Long View, a conversation with people of long experience.
More Foreign Investment for Wall Street
Over the past few months, foreign governments have come to the aid of ailing Wall Street investment banks. And this week, Singapore’s Temasek Holdings [...]
Trading Pimp 2007: I’d like to thank the Academy…
…or in my case, I would like to thank the guys at MoveTheMarkets.com for bestowing this great honor upon me for contributing to their profitability by writing The Ultimate Trading Course.
While there was a lot of discussion about the course material at their blog, what struck me was the debate about the cost of the course. How does a prospective buyer know that the fee is worth it? The answer is that there is no way to know for sure.
To complicate matters for those seeking knowledge is one inescapable fact: the market for trader education [...]
Sentiment Survey: Homebuilders Still Going Down on Bad News
The news this morning is that new-home sales plunged by 9 percent. Yesterday, it was reported that mortgage application volume dropped 7.6 percent last week, despite a dip in interest rates.
The media is debating whether or not the sector is close to a bottom [VIDEO]. Bargain hunting and bottom fishing is never easy. People tend to rush in much too soon and get stuck in value traps.
From a sentiment cycle perspective, the prime prerequisite is a washout: the stock price must stop dropping on bad news. And it doesn’t look like the homebuilders are [...]
Friday Media Digest
A tempest in a Champagne flute
Under French law, the only sparkling wine anywhere in the world that merits the name Champagne with a capital C must be made from grapes grown on officially designated plots of land in France. But as global demand for Champagne soars, pressure is mounting to expand Champagne country. Champagne-producing houses want guaranteed long-term access to more of the pinot noir, chardonnay and pinot meunier vines that are used to make the real thing. Farmers and landowners who are not on Champagne-designated land hope to join the exclusive club of insiders. To that [...]
Stocks to Watch for Friday
The stock scan conducted after the close on Thursday found 19 winners and 40 losers. Click on the column headers to sort the table below.
[TABLE=13]
Our scan criteria incorporates price movement, range and liquidity (500,000 shares on the day, 20-day average of 1.5 million). The list is ranked and sorted by performance against the S&P 500 and the NASDAQ 100 indexes, from best to worst.
Become a client, and get the buy and sell signals for each of these stocks, along with ranked and sorted lists of the largest 300 ETFs by assets under management, the constituent [...]
Other Non-metallic Miners: AGU, CF, MOS, TRA, TNH
While POT is in the spotlight today due to the upgrade, there are a number of related companies out there to consider.
A look at Q4 price performance so far tells us two things. First, all of these stocks are outperforming the S&P 500 Index. Second, three of these companies have outperformed POT.
Before I show you which ones are popping big time, let’s pause and note the fact that there is obviously a huge momentum play. People are piling, so now is a good time to pull out an immortal quote from a classic paper on [...]
InVivo View: Potash Corp. of Saskatchewan (POT)
Nobody expects an analyst to be perfect, but I sure wish they would be more mindful of how they play their part in sentiment cycle.
Forbes reported this morning that Goldman Sachs analyst Edlain Rodriguez upgraded Potash Corp (NYSE:POT) “to “Buy” from “Neutral” and said Potash will be able to raise prices because of strong demand and tight supply.”
The price target was said to be $180.00, and the stock opened with a big gap up. By the close, POT looks to have smoked the early birds.
Shanghai: The Ghost of Crashes Yet to Come?
It was this time in 1999 when a friend’s wife finally had enough and demanded to know why they didn’t own QCOM, the “it” stock of the Dot Com boom.
He called immediately with the news because it was an all-important moment: the silent bell was ringing so loudly that we both knew tech stocks were near a significant sentiment cycle top. A few days later, I wrote about QCOM as my first piece of 2000. And that really was it.
A couple of days ago, I added some indexes to go with the stock signals [...]
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