Inside The Stock Market ...trends, cross-currents, and outlook
View from the North Country
Forecasts for 1996: Recession not "Soft Landing”, Short term rate cuts, 0% inflation...or less!
Navigating the Treacherous September, October, November Period
Weighing In: Updating positives and negatives for stocks...technology leadership is fragmenting — shifting this positive to neutral.
“Playing the Bounce” Is Coming
We will be sending out our 1995 “Playing the Bounce” list via a mid-October Interim Memo.
1972’s Nifty-Fifty: How Have They Fared?
Back in 1972, an elite group of companies had been identified as offering guaranteed growth in the future. These were christened the “Nifty Fifty”. Subsequent market performance of these chosen companies is presented herein.
Monitoring Mutual Fund Cash Flows
Because of the huge current stock market significance of sustained public inflows into equity funds, we are now monitoring these flows on a weekly basis.
Today’s Big Stock Market Positives and Negatives
Weighing In: The big positives and the big negatives for stocks...as we see them. Four possible upsets to bullish complacency.
Supply/Demand Considerations
Record demand meets record supply. September could be a crucial month.
Monitoring Mutual Fund Cash Flows
Supply/Demand: $11.2 billion net cash into U.S. focus equity funds versus $9 billion of equity offerings in July.
The Bull Marches On
Beginning of the end for tech stocks? Maybe not. More “new era” speak — a.k.a. justifications for an overvalued equity market.
Watch Out Below
Four possible upsets to bullish complacency.
Inside The S&P 500
A listing of the 50 best and 50 worst year to date performers in the S&P 500 (through the end of July).
View from the North Country
Does an “Information Revolution” justify unprecedented equity valuations for the broad market? Another downward inflation revision and a novel way to promote Social Security reform.
Worth Noting
Steve’s notes on revising the GDP calculation, market implications of discount rate cut, stock market capitalization as a percentage of the GDP and more.
View from the North Country
U.S. healthcare cost containment? Still a long way to go. The 1995 “Tax Freedom Day” scorecard and the top 10 reasons the market will never go down.
Putting Today’s Below-Average Dividend Payout In Historical Perspective
Our “Testing the Yield” histogram supports a cautious equity market posture based on historical limited upside potential in periods of low dividend yield levels.
Still Watching the Bull Market Go By Us
Who's leading the bull market charge? Unsophisticated investors?
What Might Change Today’s Bullish Psychology?
The basic question is, what might motivate the Teflon market to initially suffer a period of weakness?
Monitoring Mutual Fund Cash Flows
$8 billion net inflow to Domestic Equity Funds in June. New and secondary equity offerings picking up, big block insider sale at record high (in dollars).
Updating Our Earnings “Catch Up” Model…Spectacular Earnings Growth, Or Just A “Normal” Return To Trendline?
Corporate earnings growth was well below the trendline during the period of 1988-1993. Overall, earnings growth is now moving back in line with long term trends.
What Is Wrong with the Major Trend Index: Some Current Thoughts
At this point, it’s quite disappointing as to how the Major Trend Index work has functioned, especially in the past several months. It appears that too much lead time may have crept into the overall discipline.
Perception for the Professional
May 2026 Issue
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May 2026 Issue
