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Joseph P. Porter
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I am a retired college faculty in Philosophy, with specializations in Ethics, Socio-political Theory and Rational Choice/Decision Theory. My teaching focus was on Business Ethics, Medical Ethics and Logic. After retirement I freelanced as a Grant Writer/Fund Raising Consultant. I have taught at... More
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  • Dogging The Market: Bleak 22 0 comments
    Jun 2, 2013 2:54 PM

    A second overall bad week for the market, although not completely abysmal. In general, everything down and not much to talk about (or that I really feel like talking about). I'm ready for a good week.

    Let's look at the Dow:

    (click to enlarge)

    Maybe the biggest concern among the Pedigrees is the drop by Pfizer, Inc. (NYSE:PFE), to the tune of a 6% loss of value - the most Pfizer's lost in one week this year. I have a hunch much of this has to do with Zoetis.

    For the Dogs, big hits were taken by AT&T Inc. (NYSE:T) and Verizon Communications (NYSE:VZ), to the tune of 4.7% and 5.6% losses, respectively.


    Let's see the S&P

    (click to enlarge)

    The changes for the Dogs were rather extreme, either in increases or decreases in value. Cliffs Natural Resources Inc. (NYSE:CLF) took a bigger than 10% hit in price, as did Excelon Corporation (NYSE:EXC); Frontier Communications Corp. (NYSE:FTR) and Windstream Corporation (NASDAQ:WIN) both end up back in the basement. There is now a more than 1000 BPS difference between the Pedigrees and the Dogs.

    May turned out to be a fairly disappointing month, even with the record highs.

    Disclosure: I am long PFE.

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