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Good Morning, today is Wednesday, December 24, 2014
Merry Christmas everyone!!
Good Morning … is presented by:
Clifford B. Backes
Senior Vice President – Investments
Technical Analyst
Ohanesian / Lecours Investment & Advisory Services
433 South Main Street - Suite 104
West Hartford, CT 06110
Please note: I work from my home office on Tuesdays, Wednesdays
and Thursdays. I can be reached those days from 7:00 AM to 4:30 PM
at my home office number 860-873-8104
Model Portfolios
Rising Income
Portfolio:
Dividen
d Yield:
3.56
%
Eight Week Low
Portfolio:
From April 28,
2014:
0.6
8%
v
s
S&P
500:
From Inception
4/28/2014:
0.6
8%
v
s
S&P
500:
v
s
S&P
500:
v
s
S&P
500:
From January 1,
2014:
11.9
4%
v
s
Dow 30:
8.73
%
From Inception
06/21/1994:
472.
44%
v
s
Dow 30:
172.
84%
RTR Portfolio
Performance:
11.
74
%
11.
74
%
TZA Counter
Trend Portfolio:
From January 1,
2014:
18.4
4%
v
s
NASDA
Q
14.1
0%
From January 1,
2014:
From Inception
7/15/2013:
50.3
6%
v
s
NASDA
Q
32.1
0%
From Inception
6/7/2013:
10.
61
%
22.
13
%
12.
65
%
27.
13
%
Market Timing Signals
Current Market Timing Signals
CANSLIM
Uptrend Under
Pressure
Conservative
Aggressive
Buy
LONG
Margin
Margin
Yesterday’s Market
Indication
Raise Cash
Accumulate Long
Carefully Utilize Margin Long
Use Careful Leverage
12/24/2014
Index Studies
(All charts courtesy of
Worden Brothers TC 2000
www.worden.com/ )
Standard & Poor’s 500 – The S&P climbed higher yesterday on weak holiday week volume.
The market
continues to act well, although yesterday we closed in the lower part of its daily bar. The S&P did
however
close above its recent high and so our up trend in the market resumes with an up trend under
pressure.
We call the up trend under pressure because the up trend resumed with 6 distribution days in the
past month.
Further, the first of those distribution days doesn’t fall off the count until the second week of
January.
Large capitalization stocks out performed small caps yesterday as the market continued to exhibit
strength.
While we remain bullish intermediate and long term, as noted above our short term outlook is an
up trend
under pressure. That noted, our Conservative Timing Model is back on a buy signal as is our
Aggressive
Timing Model. Our Margin Timing Indicator is on a margin signal indicating aggressive traders
can begin
to employ margin in our portfolios. Our swing timing model is on a neutral rating. As always, all
traders
should maintain stops on all positions. Our immediate bias on the S&P 500 is bullish based on a
rising
green bar on the right edge of our MACD histogram.
NASDAQ Composite – The NASDAQ closed down fairly significantly yesterday on weaker
trading volume.
The short term trend in the NASDAQ is neutral with the composite right at the top of its recent
channel. We
will watch to see if the NASDAQ can hold support at its 50 day moving average and in the 4610
area. We
are neutral short term on the NASDAQ, but bullish, intermediate and long term. Maintain stops
on all positions.
Our immediate bias on the NASDAQ is bullish.
Stocks to Watch Today
None
Never enter a stock without a defined exit strategy.
Always consult an investment professional before trading any stock.
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“Good Morning…” is edited by Clifford B. Backes. Mr. Backes is a Senior Vice President Investments, Technical Analyst and a Partner with the investment firm of Ohanesian / Lecours,
Inc. "Good Morning..." is written solely for the benefit of our clients, friends and colleagues.
Anything written, stolen and/or plagiarized in this publication is done without malice. Further the
analysis and opinions expressed in this publication are strictly those of the editors and not of
Ohanesian / Lecours, Inc. its affiliates, subsidiaries or any of the officers or employees of
Ohanesian / Lecours, Inc. On that note we submit the following...
The analyses, calculations and evaluations presented here are based on data and assumptions Ohanesian / Lecours, Inc.
believes to be accurate. Ohanesian / Lecours, Inc. makes no representation that such analyses or calculations are accurate or
that such valuations represent levels at which actual trades may occur. This report has been prepared from original sources
(except where otherwise noted) and data we believe reliable. Ohanesian / Lecours, Inc., its affiliates and subsidiaries and/or their
officers and employees or their families may from time to time acquire, hold or sell a position in the securities mentioned herein.
Moreover, opinions may differ from one entity to the next. If we are used in connection with the purchase or sale of any security
discussed in this report, we may act as principal for our own account or as agent for both the buyer and the seller.
This newsletter is dedicated to the education of friends, clients and paid subscribers. The
newsletter is an information service only. The information provided herein is not to be construed
as an offer to buy or sell stocks of any kind. The newsletter selections are to aid subscribers in
making informed investment decisions based wholly or in part on technical analysis. It is possible
at this or some subsequent date, the editors “Good Morning…” may own, buy or sell stocks
presented. All investors should consult a qualified professional before trading any stock. The
information provided has been obtained from sources deemed reliable but is not guaranteed as to
accuracy or completeness. The editors of “Good Morning…” make every effort to provide timely
information to subscribers but cannot guarantee specific delivery times due to factors beyond our
control.
Clifford B. Backes
Senior Vice President - Investments
Ohanesian / Lecours
Investment and Advisory Services
433 South Main Street - Suite 104
West Hartford, CT 06110
Phone:
860 521-4751
800 525-9295
Home Office:
860 873-8104
Fax:
860 521-4755
e-Mail:
[email protected]
Website:
www.ol-advisors.com
J.K.B. 10/31/1949 - 12/31/2007
Partner, Mentor, Friend.