Inside The Stock Market ...trends, cross-currents, and outlook
Turning The Corner
After a string of three consecutive down market years, the closing bell on the eve of the recent New Year put to bed the first annual gain for the U.S. stock market since 1999.
OTC Bulletin Board Update: Fever Breaks In November?
In the last few issues, we wrote about the sharp spike in OTC Bulletin Board trading volume observed in September and October. This month, we check in to review November’s trading data in order to see if anything has changed.
Tracking The Market Recovery
Based on the long term averages, there is additional upside to the bull market in 2004, if the S&P 500 tracks the “classic” recovery pattern.
Playing The Bounce Update: Small Bounce In November And December
The 2003 performance through December 31st was relatively good, but somewhat below past years results.
Equity Performance By Market Cap Tiers
Weighted versus Unweighted S&P 500 comparison, Russell 2000 versus S&P 500 annual comparison and 2003 equity performance by market cap tiers.
Different Pictures Of Gold Prices
Gauging how much impact the dollar’s decline has had on the rising gold price.
OTC Bulletin Board Update: Speculation Still Reigns Supreme
September’s sharp spike in OTC Bulletin Board trading volume persisted in October.
Tracking The Market Recovery
Based on the long term averages, there is additional upside to the bull market in 2004, if the S&P 500 tracks the “classic” recovery pattern.
Playing The Bounce Update: Small Bounce In November
There seems to be some decent performance coming from the large cap bounce stocks.
Client Questions And Answers
A look at why our very overweight Healthcare position and zero weight in Financials has not hurt our performance this year.
Price To Sales Ratios....Are Small Caps Still Significantly Cheaper?
On a price to sales basis, small caps sold at 43% discount to large caps at the end of 1999, but this has virtually disappeared in the past four years of strong small cap performance.
November Mutual Fund Flows...What Fund Scandals?
Public does not yet seem to phased by the mutual fund scandals as November marked the ninth consecutive month of net inflow to U.S. focus mutual funds, totaling $133 billion of net inflow.
View From The North Country
What’s in store for 2004? See “View From The North Country” for Steve Leuthold’s predictions. Targeting mid year stock market peak of 1250 for S&P 500 and 2400 for NASDAQ. Also makes prognostications on Interest Rates, Inflation, the Dollar, Fed Budget Deficit, and more.
This Isn't Good...
A recent study conducted by Hewitt & Associates found that 42% of 401(k) plan participants cashed out rather than roll their assets into an IRA or into their new employers’ defined contribution plans.
November Leadership
November correction we anticipated never materialized. December could be frosting on the cake as the last month of a very good stock market year.
A Closer Look At Small Caps Versus Large Caps
Weight of evidence no longer overwhelmingly favors Small Cap leadership, but we believe they still have upside potential.
Speculation Is Back On The Bulletin Board
In mid-October, it was announced that OTC Bulletin Board trading volume surged sharply in September...very sharply.
October Mutual Fund Flows...$116 Billion Net Inflow Over Last Eight Months
What is driving hefty net redemptions in retail money market funds? You might be surprised.
View From The North Country
Leuthold’s thoughts about a potential near-term bull market correction, the current budget deficit, and observations on the political front.
Convertible Offerings...The Stealth Supply Factor
With convertible issuance in 2003 running almost 23% ahead of common equity issuance, we thought it would be a good time to take a look at this subject.
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