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Please read carefully our disclaimers at the end of this newsletter. Weekly Status Report: Contents
Typical Client Performance
* An average of managed accounts, net after all commissions and fees. Click here for more performance data. Click here for information on managed accounts. Market Stance: BEARISH (since August 11, 2010) Last week in this space, I wrote that "the path of least resistance [for the market] is probably down". And, sure enough, down it went ... a little. The S&P gave back -0.7%; Deen Capital accounts shed -1.1%. Surprisingly, in this context, the NASDAQ Composite eked out a +0.3% gain. It seems growth stocks are, just recently anyway, holding up better than the market overall. There are pockets of strength, especially in small under-valued stocks with big earnings surprises and strong prospects for future growth. In part because of this, I did a little nibbling last week. I am hoping to (timidly) exploit these "pockets of strength". But this is risky, and my emphasis remains on capital preservation (read: cash). In retrospect, even though I remained more than 50% in cash at all times last week, I did a bit too much "nibbling". I am disappointed with our 1-week result. (Year-to-date, we are still outperforming ... barely: Deen Capital -1.4%, S&P -2.7%.) My indicators are unanimously bearish. The environment remains negative for stocks. My Three Primary Technical Indicators:
Prior week Now
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NASDAQ Timing Model (Ver.10r): BEARISH BEARISH (1)
Last signal: BEARISH on Aug 10, 2010
Performance of Recent Stock Picks: -5.1 BEARISH -3.6 BEARISH (2)
Market Internals: 51% NEUTRAL 49% BEARISH (3)
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Market's Overall Technical Rating: BEARISH BEARISH
Stocks:Cash ratio (average): 22:78 28:72
(1) A proprietary computer model based on technical analysis of the NASDAQ Composite. (2) This number (from -10 to +10) is based on the performance of ALL my recent stock picks (I actually buy only some of these). A positive number means my recent stock picks are generally rising; a negative number means they are generally falling. Even so, I consider a reading below +3.1 to be bearish. I require a reading of +5.6 or better to call this indicator bullish. (3) This is the percentage of stocks ($8 and up) which are trading above their 50-day moving average. The rating of this percentage (bullish, bearish or neutral) is based on which way it's been moving recently -- up, down or sideways. -KD, Saturday, August 21, 2010
* Buy prices shown are net after commissions. Stocks Sold Over Past 13 Weeks
* Buy and sell prices shown are net after commissions. This means that the gains/losses shown are also net after transaction expenses. 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.
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