Green Book March 1984
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Featured Articles
Bond Market Summary
The bond market has come back down in our 12% (T-bonds) buying zone. We would buy Zeros and Long T-bonds. A short-term clear break to new lows would not surprise us, but our minimum 1984 Long T-bond target is 10.5%, maybe lower if significant action is taken on deficit.
High Tech Stocks
Our “High Tech Thirty” index on Feb. 23 was down 45% from the June 1983 peak. That, coincidentally was the target set by us in summer 1983. The worst might be over for these battered and beaten stocks. A few are starting to look interesting.
Inside the Stock Market
Our Major Trend Index is down to Neutral temporarily, but we think the market is now in final washout phase of the long complex correction dating back to late June 1983. Our guess at this time is the late February lows will hold.
Nuclear Utilities…..Stay Away
The biggest financial burden may not be the skyrocketing costs of plants under construction. The eventual costs of decommissioning the now operating plants may be even greater.
The Bank Double Play
This strategy move was discussed last issue. Here are details, including 63 bank stocks that survived our screens. Also, our initial eight selections. This is damn difficult research, but more is coming soon.
View from the North Country
The February 23 memo advised clients of new tactical move into a package of major airlines, a 6 to 12-month tactical play. The sharp 23% decline in Airlines since Jan. 20 is viewed as a rare second opportunity to buy an industry in the midst of a profit surge at pre-recognition levels.
Will Saudi Arabia Tender for Exxon? ...(Or Is the Party Over?)
The mega merger mania may be about over. Our model scored big with Getty and now Gulf. We cashed in half of the 4% Gulf position at 69 on January 29 and have just sold the rest at 71. $80? Well maybe, but why be greedy? The party may be about over.
Table of Contents
Stock Market
- View from the North Country
- Inside the Stock Market
- Will Saudi Arabia Tender for Exxon? ...(Or Is the Party Over?)
- Nuclear Utilities…..Stay Away
Of Special Interest
Macro Monitor
Equity Strategies
Bond Market Summary
The bond market has come back down in our 12% (T-bonds) buying zone. We would buy Zeros and Long T-bonds. A short-term clear break to new lows would not surprise us, but our minimum 1984 Long T-bond target is 10.5%, maybe lower if significant action is taken on deficit.
High Tech Stocks
Our “High Tech Thirty” index on Feb. 23 was down 45% from the June 1983 peak. That, coincidentally was the target set by us in summer 1983. The worst might be over for these battered and beaten stocks. A few are starting to look interesting.
Inside the Stock Market
Our Major Trend Index is down to Neutral temporarily, but we think the market is now in final washout phase of the long complex correction dating back to late June 1983. Our guess at this time is the late February lows will hold.
Nuclear Utilities…..Stay Away
The biggest financial burden may not be the skyrocketing costs of plants under construction. The eventual costs of decommissioning the now operating plants may be even greater.
The Bank Double Play
This strategy move was discussed last issue. Here are details, including 63 bank stocks that survived our screens. Also, our initial eight selections. This is damn difficult research, but more is coming soon.
View from the North Country
The February 23 memo advised clients of new tactical move into a package of major airlines, a 6 to 12-month tactical play. The sharp 23% decline in Airlines since Jan. 20 is viewed as a rare second opportunity to buy an industry in the midst of a profit surge at pre-recognition levels.
Will Saudi Arabia Tender for Exxon? ...(Or Is the Party Over?)
The mega merger mania may be about over. Our model scored big with Getty and now Gulf. We cashed in half of the 4% Gulf position at 69 on January 29 and have just sold the rest at 71. $80? Well maybe, but why be greedy? The party may be about over.
Stock Market
- View from the North Country
- Inside the Stock Market
- Will Saudi Arabia Tender for Exxon? ...(Or Is the Party Over?)
- Nuclear Utilities…..Stay Away
Of Special Interest
Macro Monitor
Equity Strategies
Perception for the Professional
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Sector Navigator
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