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Green Book July 1982

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Featured Articles

Flying by The Instruments: Major Trend Index, Fail/Safe and All That Jazz

Leuthold Group “Interim Memos” are usually unusual, perhaps three or four per year. But, in the last month, two were sent. We know this has produced some confusion with clients. Herein, an attempt will be made to better explain this publication's current attitude. And, for readers interested in the market trend analytical disciplines, some questions will be answered.

Inside the Dow Jones Industrials

The DJIA certainly has its problems as an analytical tool. Sometimes a close examination of this relatively small sample of stocks can be enlightening.

Inside the Stock Market

Skittishly Bullish best describes our attitude. June was disappointing, significantly eroding our analytical work even though the popular averages drifted only slightly lower. The time is coming for the Natural Resource Disaster Area and the Super Sick Cyclicals. It's still too early, but we are sharpening up the timing tools.

View from the North Country

55 members of Congress are double dippers, getting a government salary check and a government pension check each month. Some think it's unethical, but it's all legal. Names and numbers included. Also, the CPI may soon be understating inflation, but not because a rental equivalent will be substituted for home prices and mortgage costs in January 1983. PPI, however, is understating price declines.

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