Latest Research

Fiscal responsibility goes out the window in Washington. Also, The Bombastic Earnings Charade: Why are companies allowed to make up their own accounting rules?

Market shrugged off bad news; but rally from the lows is almost a text book example of a bear market rally. Plus, Steve's current outlook regarding the Economy, Earnings, Inflation, and Interest Rates.

Areas hardest hit subsequent to the Attack typically rebounded the most. Sector and Industry Group leaders and laggers examined herein, from the lows of 9/21 and from before the Attack.

The weight of the evidence points toward a transition from value leadership to growth, with small caps leading the way. But, getting the timing right is no easy matter.

From a much lower base, at least some tech stocks could once again become earnings momentum plays.

“Record” outflow only 10th highest as a percent of Equity Fund  assets. But, as a percent of stock market capitalization, September net outflow was about on par with October 1987.

Continuing to evaluate Leuthold Index methodology.

The latest 10-week reading declined a big 48% from the previous month end, and has fallen to the lowest level of insider net selling since late-1998.

While the markets are however still very volatile, it seems that the volatility appears to be slowing from the amazing levels recorded in 2000.

For those who “play” very aggressively, two groups that are experiencing dramatic performance swings: Security Companies and BioDefense.

GS Score improved to Attractive on strength from Growth, Technical, Judgmental, and Insider categories.

The NASDAQ posted a strong 12.8% gain in October, and also leads the pack from the September 21st low with an 18.8% gain.

Expect further Fed cuts in short rates, but this could do more harm than good.

The Leuthold Group is not currently playing the bounce, but may consider doing so in December.

Art Cashin’s Intuitive Observations regarding the altered ambiance in New York. September 19th Conference Call with Steve Leuthold and Charley Maxwell summarized.

Unlike most past market crises, a post-crisis rally did not immediately follow the September 11th Attack. October Expectations: The passage of time is beginning to moderate Wall Street’s debilitating pain. I think the stock market rebound rally could be about to get underway in earnest.

It appears that a transition to growth leadership is already underway in the small caps segment of the market.

On a valuation basis, tech stocks are approaching an attractive accumulation zone.

September’s outflow a record dollar-wise, but only represents 0.7% of total equity fund assets. This is not indicative of a panic by Main Street investors.

Early in June, it appeared that big block selling was on the decline. But in the three months since, heavy selling has resumed.