Chartcraft Report....
-The Brazilian Fund was added to the Low Priced Portfolio. Selling at a 24% discount to NAV, down 50% from highs and had a Selling Climax last week.
-A turn in foreign markets is detected. Moved to 20% invested in Foreign Mutual Funds. Added Fidelity emerging Market Fund in their Switch Fund Portfolio.
-Big turnaround week for Buying and Selling Climaxes. Many more Selling Climaxes 87 (52 week high, finishes down for the week-accumulation) vs Buying Climaxes 16 (52 week low, finishes up for the week-distribution)
-Notable Buying Climaxes: Best Buy, Clear Channel, FPL, Niagra Mohawk, Pollo Tropical, Duke Power, Tracor
Notable Selling Climaxes: Diebold, Callaway Golf, Hitachi, Bombay, Lomak Pete, Newfield Explor., Swift Energy, Union Pacific Res (Oil Group SC's), Micron Tech., Electrorent, Read Rite, Employee Solutions, Adaptec, Reynolds Metals, Arnold Ind., Funco, Rouge Steel, Newmont Mining, Seattle Film, Telecom New Zealand, Thermedics, Nippon Tel.
Take care,
Bruce |
