Green Book April 1989
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Featured Articles
Advance/Decline Ratio of Quarterly Earnings
Will the current earnings momentum be maintained in the upcoming months? Even considering the limited history of this study, the current trend would seem to be quite favorable for 1989’s first quarter and perhaps the second quarter.
Bond Market Summary
In mid-March, the bond market was jolted by a nasty PPI number and spent the rest of the month creeping back to pre-PPI release levels. The net result was an unchanged to slightly higher bond market in March.
Joke of the Month
This comes from one of our investment management readers, a chief investment officer who wishes to remain anonymous. (After you read the joke, you will understand why).
No Change in Outlook
March market action surprised many observers. The market recorded a gain for the month. To many it had appeared an intermediate correction (or worse) was underway. But instead of breaking the February lows, the stock market bounced.
Scanning the Markets
A performance run down for our equity market sectors ranked by March performance.
VLT Momentum: Based on DJIA Monthly Averages
In the fall of 1988, this publication detailed a very reliable long-term stock market indicator we call VLT momentum. Herein, we present the record tracking back to 1897, employing average monthly prices in the calculation rather than month end prices.
View from the North Country
Benchmarks Mailed to All Clients in Late March...Hall Of Famer “Sedge” Coppock...MTA Annual Seminar May 19-21, Naples, Florida...New Zealand Update...Precious Metals Update
Table of Contents
Stock Market
Of Special Interest
Macro Monitor
Equity Strategies
At Random
Advance/Decline Ratio of Quarterly Earnings
Will the current earnings momentum be maintained in the upcoming months? Even considering the limited history of this study, the current trend would seem to be quite favorable for 1989’s first quarter and perhaps the second quarter.
Bond Market Summary
In mid-March, the bond market was jolted by a nasty PPI number and spent the rest of the month creeping back to pre-PPI release levels. The net result was an unchanged to slightly higher bond market in March.
Joke of the Month
This comes from one of our investment management readers, a chief investment officer who wishes to remain anonymous. (After you read the joke, you will understand why).
No Change in Outlook
March market action surprised many observers. The market recorded a gain for the month. To many it had appeared an intermediate correction (or worse) was underway. But instead of breaking the February lows, the stock market bounced.
Scanning the Markets
A performance run down for our equity market sectors ranked by March performance.
VLT Momentum: Based on DJIA Monthly Averages
In the fall of 1988, this publication detailed a very reliable long-term stock market indicator we call VLT momentum. Herein, we present the record tracking back to 1897, employing average monthly prices in the calculation rather than month end prices.
View from the North Country
Benchmarks Mailed to All Clients in Late March...Hall Of Famer “Sedge” Coppock...MTA Annual Seminar May 19-21, Naples, Florida...New Zealand Update...Precious Metals Update