EARNINGS GOOD NEWS
The Wall Street Journal
(WSJ) reported that with half of the S&P 500 companies reporting, 1st
quarter company earnings have risen 6.5% from a year earlier. The expected number was only 0.9%. As quoted in the WSJ, UPS CFO, Curt Kuehn,
said, “We feel that the momentum in the domestic economy continues unabated, so
we feel good about the US economy.”
That’s from the shipper UPS, so they are in a position to see advance
shifts in the economy.
GDP BAD NEWS
From MarketWatch The Wall
Street Journal, Mediocre GDP report even worse in the details: “The economy
grew at a 2.2% annual rate in the first quarter of the year, down from a 3%
growth rate in the last three months of 2011, the government estimated
Friday….Strip away the inventory growth, and final sales in the economy
increased 1.6%, the fourth quarter in the past five that was below 2%.” Full Story at:
The expected rate from
economists was 2.5% according to several reports. The previous quarter was 3%.
MUTUAL FUND UGLY NEWS
The Investment Company
Institute (ICI) reported that 10-billion dollars was withdrawn from Long term
domestic stock mutual funds in the 2-week period ending last week.
STOCK MARKET ADVICE FROM CLINT
EASTWOOD
Those mutual fund
investors should have listened to Blondie (Clint Eastwood) who said, “If you do that, you'll always be poor...”
Maybe the
NTSM Blog needs a theme song?...
THE MARKET
The S&P 500 was UP 1/4%
Friday to 1403. VIX rose 1/2% to 16.32.
NTSM
The NTSM analysis remained
HOLD today, Friday. Every indicator is
neutral.
MY INVESTED POSITION
I bought back into the
stock market at S&P 500, 1155 on 7 Oct after the 6 Oct NTSM buy
signal. I remain 100% long in the
long-term portfolio (and 100% stocks in the 401k.). (See the page “How to Use
the NTSM System” – the link is on the right side of this page). 100% in stocks is quite extreme so don’t do
it unless you have a high tolerance for risk.
