Green Book May 1987
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Featured Articles
“April Must Have Been Dull”
When the closing bell sounded on April 30, the market averages were down very little from the month before. To the casual observer, it might appear to have been a dull quiet month. But to those on the floor, in front of a quotron, or even reading the daily financial pages, it was anything but.
Bond Market Summary
April couldn’t have been much crueler. Even with the rally from near panic lows, long T-bonds lost 6-7 points for the month, as did long municipals. Corporates held up a little better, dropping only three or four points.
Client Questions
Three questions that seem to be coming up quite frequently these days: Is it time to buy electric utilities? What do we think about the telephone utilities? Inflation sensitive stocks - what do we do now?
Monitoring Earnings Trends
Last year, two original earnings momentum evaluators were introduced in this publication. Currently both are giving off constructive readings for 1987 and perhaps beyond. Unfortunately, history seems to indicate this is not necessarily a big positive for stock prices.
The Stock Market in April
It was a wild and wooly, hairy and scary market in April, even though the popular averages ended the month only about 1% below where they began. However, the NASDAQ and Value Line measures each declined about 3% over the month.
View from the North Country
Thoughts from the airplane…Two pictures of gold…Is finding values in this market “Mission Impossible?”
Table of Contents
Stock Market
Of Special Interest
Macro Monitor
“April Must Have Been Dull”
When the closing bell sounded on April 30, the market averages were down very little from the month before. To the casual observer, it might appear to have been a dull quiet month. But to those on the floor, in front of a quotron, or even reading the daily financial pages, it was anything but.
Bond Market Summary
April couldn’t have been much crueler. Even with the rally from near panic lows, long T-bonds lost 6-7 points for the month, as did long municipals. Corporates held up a little better, dropping only three or four points.
Client Questions
Three questions that seem to be coming up quite frequently these days: Is it time to buy electric utilities? What do we think about the telephone utilities? Inflation sensitive stocks - what do we do now?
Monitoring Earnings Trends
Last year, two original earnings momentum evaluators were introduced in this publication. Currently both are giving off constructive readings for 1987 and perhaps beyond. Unfortunately, history seems to indicate this is not necessarily a big positive for stock prices.
The Stock Market in April
It was a wild and wooly, hairy and scary market in April, even though the popular averages ended the month only about 1% below where they began. However, the NASDAQ and Value Line measures each declined about 3% over the month.
View from the North Country
Thoughts from the airplane…Two pictures of gold…Is finding values in this market “Mission Impossible?”