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Entries for 2017

Higher Bond Yields A Headwind For Technology Stocks

 September 24 2017     David Templeton
In a recent note from the John Murphy of the stockcharts.com website ($$) he notes technology stocks tend to have an inverse relationship to bond yields. In his commentary he noted,"One of the lesser known intermarket principles is the inverse link between bond yields and technology stocks' relative performance...Growth stocks like technology...do better in a slower economy which is usually associ...

Market Is In An Uptrend And Trends Tend To Persist

 September 17 2017     David Templeton
One strategist I read regularly and who prepares weekly technical commentary, Charles Kirk at The Kirk Report, had a reference in this week's report relative to the strength of the current market. Kirk highlighted the below quote from James DePorre,"If you simply focus on what the pricing action is saying, then your job of profitably navigating the market becomes a lot less complex. The simple fac...

Stocks Need Some Healthy Competition

 September 16 2017     David Templeton
It seems a day does not go by where various strategists lament the market's valuation and lack of any significant pullback in over a year and a half. Not only are the valuations of a number of equity indices above their long term average, some might say the valuations are indicative of the speculative froth in the market. One data point highlighted is the margin debt level. Certainly margin debt h...

The Freeze

 September 15 2017     Anna Pfaehler
Winter came – for my credit. In light of the Equifax data breach, I froze my credit with Equifax, Transunion, Experian and Innovis. It was not difficult, but it was not the smooth sailing some of my colleagues experienced. I thought I’d share my experience here in hopes it will be helpful and to encourage you to freeze yours too. For each bureau, you visit their website, enter m...

The Risk Of De-risking The Equity Portfolio

 September 15 2017     David Templeton
The unique aspect of the current U.S equity market has been the market's desire to move higher without any significant pullback. As the below chart shows, the last correction (double digit decline) occurred in early 2016 and culminated with a 13.3% decline ending February 11, 2016. Since the February correction, two other pullbacks of around 5% occurred around June 2016 and November 2016.So far th...

Equifax Breach - What You Need to Know

 September 14 2017     Anna Pfaehler
On September 11, Equifax made known that personal data of nearly half of the U.S. population was compromised this summer. The data breach gave thieves access to the identities (names, Social Security Numbers, addresses and dates of birth) of approximately 143 million Americans. Those affected are at increased risk for identity theft and fraud.  You can check if you are potentially impacted...

Spike Higher In Bullish Sentiment

 September 14 2017     David Templeton
In today's Sentiment Survey release by the American Association of Individual Investors, bullish sentiment jump twelve percentage points to 41.3%. All of the increase in bullish investor sentiment come from a 13.8 percentage point drop in bearish sentiment as can be seen in the second chart below.The bull/bear spread of 19.3 is the second highest of the year following early January's 20.97 bull/be...

Planning FAQs

 September 11 2017     Anna Pfaehler
I field many questions from clients and colleagues every day. Here are a few recent ones from the trenches: 1. If I take all of the money out of my child’s 529 what happens? Qualified Educational Plans (AKA 529 Plans) are meant to fund qualified education expenses such as college tuition and fees. Distributions not used for qualified education expenses will incur income tax, at ordinary ra...

S&P And MSCI May Change The Composition Of The Telecommunications Sector

 September 10 2017     David Templeton
In July of this year S&P Dow Jones Indices and MSCI announced they were considering making changes to the current GICS Telecommunications Sector. Any changes would be announced in November and go into effect in 2018. Currently, the telecommunications sector represents about 2% of the S&P 500 Index. S&P's and MSCI's intent is to broaden the composition of the sector and rename it Communications Ser...

Growth Outperforming Value And The Economic Cycle

 September 3 2017     David Templeton
One style of the market that has outperformed, except in 2016, has been growth type equities. In 2016 value outperformed growth with a value outperformance burst subsequent to the election. Value's outperformance essentially ended at the beginning of this year though.Also, higher quality companies as measured by S&P Dow Jones Indices Dividend Aristocrats, mostly outperformed for the two and half y...
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