Green Book May 1985
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Featured Articles
A Crib from Walter Deemer
I had to clean up some of Walter’s ethnic slurs, but nevertheless the source is Deemer Technical Research.
Bond Market Summary
About half the April gain to peak levels was lost in the last few days of the month. Short-term, a long T-bond trading range of 11.30%-11.70% is expected, but the Major Trend remains bullish. A break in the deficit impasse could kick off a new upsurge.
Cash Cows on the Loose…..and Cash Cows in Confinement
The “Cash Cow” theme Is divided into two parts. “Cash Cows on the Loose” are big cash generators that are immediate takeover or buyout candidates, and “Cash Cows in Confinement” are large free cash generating regulated utilities. Both categories are added to the model this issue. The use of regulated utilities may be a surprise to most readers.
High P/E Quality Stocks Now Cheap
High P/E Quality stocks are now very cheap on a relative basis, at least when compared to low P/E stocks. Unfortunately, our timing work does not yet show favorable market momentum developing for these issues.
Inflation Watch…..Still Cool
Regardless of the recent reported upticks in the GNP Deflator and CPI, our Early Warning Inflation work provides little if any evidence that inflation is beginning to accelerate. Five of our inflation analytical tools are presented and discussed, along with the risks of Deflation.
Inside the Stock Market
April was disappointing. A better market was expected. The lack of deficit reducing progress in Washington is disturbing; but our Major Trend Index, while losing some points from last month, is still comfortably positive. At this point it is appropriate to be guided by the Index rather than emotions.
View from the North Country
The View from Down Under…Answering Some Questions: questions and comments about last issue’s essay on “The Value of Independence”…Yours from Minnesota, Ohio
Table of Contents
Stock Market
Of Special Interest
Macro Monitor
Equity Strategies
At Random
A Crib from Walter Deemer
I had to clean up some of Walter’s ethnic slurs, but nevertheless the source is Deemer Technical Research.
Bond Market Summary
About half the April gain to peak levels was lost in the last few days of the month. Short-term, a long T-bond trading range of 11.30%-11.70% is expected, but the Major Trend remains bullish. A break in the deficit impasse could kick off a new upsurge.
Cash Cows on the Loose…..and Cash Cows in Confinement
The “Cash Cow” theme Is divided into two parts. “Cash Cows on the Loose” are big cash generators that are immediate takeover or buyout candidates, and “Cash Cows in Confinement” are large free cash generating regulated utilities. Both categories are added to the model this issue. The use of regulated utilities may be a surprise to most readers.
High P/E Quality Stocks Now Cheap
High P/E Quality stocks are now very cheap on a relative basis, at least when compared to low P/E stocks. Unfortunately, our timing work does not yet show favorable market momentum developing for these issues.
Inflation Watch…..Still Cool
Regardless of the recent reported upticks in the GNP Deflator and CPI, our Early Warning Inflation work provides little if any evidence that inflation is beginning to accelerate. Five of our inflation analytical tools are presented and discussed, along with the risks of Deflation.
Inside the Stock Market
April was disappointing. A better market was expected. The lack of deficit reducing progress in Washington is disturbing; but our Major Trend Index, while losing some points from last month, is still comfortably positive. At this point it is appropriate to be guided by the Index rather than emotions.
View from the North Country
The View from Down Under…Answering Some Questions: questions and comments about last issue’s essay on “The Value of Independence”…Yours from Minnesota, Ohio