Market View- We are looking for a slow week in the market (NYSEARCA:SPY), especially since there is no negative news on China. The holiday week is usually slow as most take a mini if not a full vacation from Wall St., now that the kids are out of school and off to camp. The "Go away in May" may now be "Go Away in July." The only hopeful thing for July is earnings later in the month. After that, I don't expect to see a Summer Rally. We had it in June. (This is beginning to sound like an "enjoy the summer" newsletter.)
We do have some stocks we are watching based on our reports to subscribers over the weekend. You may want to watch along with us.
Constellation (STZ) appears on our Surprises report because of earnings. Price jumped 4.6% on 4 times normal volume. That's a buy signal. Our total implied return, including dividend, is projected to be 14.6% and I expect that to increase. We will be watching the Target, Tgt, column for these increases. This buy signal will probably reverse our current, borderline 50 out of 100 sell signal in the SID column of our reports.
Citigroup (C) was up 2.8% Friday on higher than normal volume. It already has our most important SID buy signal, rating the stock at 81 out of 100. I want to see what that buying is about and re-visit C since it is not the "best of breed" that we all look for in a sector. All the banks are moving up on passing the Fed stress test and announcing buybacks. Earnings Jul. 15th.
Ametek (AME) is up 2.9% on almost 5 times normal volume and appears on our Surprises report. That buy signal confirms our own SID, highest, Hold signal of 79 out of 100, where 80 is our buy signal. I expect that buy signal to now appear. No surprise, it also has our Demand buy signal at the D7 level out of a possible 9. Earnings due Jul.31st.
Accenture, (ACN) came out with earnings. Our most important signal, in the SID column, moved up from a Hold to a Buy. In our Tgt column we can see analysts are upgrading the target. It has our +Buy signal in the Fund column telling us portfolio managers were buyers before this and ahead of us. No surprise to them. Total implied return is projected by our computer to be 19.8% and that includes the 1.7% dividend.
Additional disclosure: Disclaimer: We are not investment advisers and we never recommend stocks or securities. Nothing on this website, in our reports and emails or in our meetings is a recommendation to buy or sell any security. Options are especially risky and most options expire worthless. You need to do your own due diligence and consult with a professional financial advisor before acting on any information provided on this website or at our meetings. Our meetings and website are for educational purposes only. Any content sent to you is sent out as any newspaper or newsletter, is for educational purposes and never should be taken as a recommendation to buy or sell any security. The use of terms buy, sell or hold are not recommendations to buy sell or hold any security. They are used here strictly for educational purposes. Analysts price targets are educated guesses and can be wrong. Computer systems like ours, using analyst targets therefore can be wrong. Chart buy and sell signals can be wrong and are used by our system which can then be wrong. Therefore you must always do your own due diligence before buying or selling any stock discussed here. We assume no liability for erroneous data or opinions you hear at our meetings and see on this website or its emails and reports. You use this website and our meetings at your own risk.
Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in Any discussed over the next 72 hours.