Please read carefully our disclaimers at the end of this newsletter. Weekly Status Report: Contents
Year-To-Date Performance
* An average of managed accounts, net after commissions and fees. Individual account results may vary. See also www.deencapital.com/perform.htm. For information on managed accounts, see www.deencapital.com/mgdaccts.htm. Market Stance: BULLISH (since October 31, 2005)For the first time since October, I do see some cause for concern regarding the market's health. Only a little bit, to be sure, but enough to prompt me to reduce our risk profile. A few weeks ago, Deen Capital managed accounts were roughly twice as volatile as the S&P 500 -- and that paid off! Now, as a result of my recent bout of selling, they are roughly on a par with the S&P, volatility-wise. The troublesome thing about last week was that leading growth stocks, including many of the stocks we own, were among the worst performers. The market was overall mixed, but our portfolio under-performed. My three primary technical indicators are no longer unanimously bullish. I now have two bullish and one (my Performance-of-Recent-Stock-Picks Index) neutral. That's still a decidedly bullish technical picture, and, as a result, my working assumption is that the bull market is likely to resume soon. This assumption is supported by a change in language from the Fed last week. Yes, they raised interest rates yet again, but they also hinted that an end to this 18-month cycle of tightening may be near. The anticipation of this could easily fuel renewed strength in the market. So, then, I'm still bullish, but now cautiously so. -KD, December 16, 2005
* Net buy prices shown are the total net purchase cost after commissions for all managed accounts divided by the total number of shares. Stocks Sold Over Past 13 Weeks
* Net buy (sell) prices shown are the total net purchase cost (proceeds) after commissions for all managed accounts divided by the total number of shares. The Gain(Loss) is therefore net after commissions. Welcome to The Deen's ListTM, an e-mail stock newsletter from Deen Capital Management, Inc. My intention is to inform you as quickly as is practical regarding my stock market moves. When I buy or sell a stock, first I take care of client accounts, then I buy/sell for my personal account(s), and then, third, I send out this newsletter. Your feedback is welcome. Send e-mail to deenslist@deencapital.com. To subscribe or unsubscribe, include the word "subscribe" or "unsubscribe" in the Subject line. This newsletter is free to managed account clients. For a limited time, it is also free to all interested parties. Your personal information, including your e-mail address, will be held in strict confidence by Deen Capital Management, Inc. We will not share it with or sell it to others. All stocks discussed in The Deen's ListTM involve a high degree of risk. It should not be assumed that any stock discussed in The Deen's ListTM or purchased by Deen Capital Management, Inc. will be profitable. Past performance is not necessarily indicative of future results. The information contained herein has been compiled from sources deemed to be reliable; however, we are not responsible for its accuracy or completeness.
Ken Deen Copyright © 2005 Deen Capital Management, Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||