Mr. Sensitive

August 9, 2013

FSX Friday Update

Filed under: Uncategorized — lbej @ 17:29

The market took a breather this week, with the S&P 500 giving back 1.1% and failing to hold 1700.  This is nothing to worry about if you’re a bull, although we’re still so close to recent highs that it hardly represents a buying opportunity.  The market needs to spend a few weeks consolidating the summer’s outsized gains, and the dog days of August are an ideal time for traders to take off non-core positions and hit the beach.  We’re through the bulk of Q2 earnings reports and it’s too early for companies to start guiding up or down meaningfully for Q3, and most of the known macro catalysts are likely to hit in September or beyond.  Tactical investors are taking profits in overstretched names so that they have cash to put to work once the vacation season is over and the news flow picks up again.  A gradual decline of 3-5% would be a very healthy development, and could set up another leg higher beginning in the second half of September.  Alternatively, investors could come to their senses, realize they’re paying 18 times trailing earnings for long-term single-digit earnings growth and flat revenues, and give the entire market a well-deserved 30% haircut.  Just a thought.

The Family Stock Index opened at a new all-time high on Monday and never looked back.  Wait…that was last week.  This week we opened at a new all-time high on Monday, plunged 600 points over the next two days, and never looked back.  The FSX dramatically underperformed the S&P, shedding nearly 3% to close at 16,132, with decliners outnumbering advancers more than three-to-one.  The three people most responsible for our month-long market-beating run are Lisa, Reagan, and Ruby, and those three were down an average of ten percent on the week.  Given that—and the lack of meaningful upside offset—we were lucky to get out of the first week of August with all our short-term bullish technicals intact.  If April is the cruelest month, August is definitely the suckiest.  Except for the spiders.

Jenny and Reagan are back—and in Katie’s office at work—so they’re doing the A/D section.  Brace yourselves.

Advancers

  • Jodi Ann (JOY) +1.2%.  Katie: Why  do you think Jodi Ann is up? Reagan: Because she’s pregnant! Everybody’s up when they’re pregnant. Jenny: Because her pregnancy’s going well.
  • Brinkley (BCO) +1.0% Reagan: Because he’s away from that darned beach. Jenny: Because he’s back from the beach. He really hated it.
  • Dustin (DST) +1.2%. Reagan: He’s so happy that his son’s back. Jenny: Lucas is getting serious about his whole computer thingamajig. He’s got a business card and charges a certain amount.

Decliners

  • Mario the Younger (MAR) -3.5%. Reagan: Because he wishes Lucas would stay in Hilton Head forever. Katie: Why would that matter to Uncle Mario? Reagan: Because. He knows everything. He sees things.
  • Lee (TGI) -3.7%. Reagan: Because he was so sad he’s been stuck with Brinkley in a house without his other awesome loving children. Jenny: You mean his one other awesome child?
  • Marcus (MCS) -4.6%. Reagan: Because he, um, is, um, uh… Jenny: Because Jodi Ann’s pregnant. Reagan: Jenny! What? Why? Um, because he really wants to go on maternity leave too, but he can’t because he’s not pregnant, which is sad.
  • Nicole M. (COLM) -5.1%. Reagan: Because her husband’s down. She can just sense he’s down, so she decided to be down herself.
  • Reagan (REGN) -8.3%. Reagan: Because my mother is forcing me to speak in front of actual humans. Note from Katie: I want Reagan to speak at a back to school event for teachers, because who loves teachers more than Reagan?? No one.
  • Ruby (RJET) -9.4%. Reagan: She’s so sad that we left because we are awesome and we eat all the food that she knows she shouldn’t eat, so therefore we do her the favor of eating it all. Jenny: She wanted Brinky to stay longer.
  • Zondro (ZQK) -11%. Reagan: Because he found out our plan that we’re going to force Brinky into his crate at night, and they’re going to sleep. And they’re going to have a blast.
  • Lisa (LNCE) -13%. Reagan: Because she like really really missed Lucas, but now she realized that nobody wants Lucas to live in a house with him, so she’s having second thoughts about him coming back.

 

Name Ticker 8/9/2013 Change
Brinkley BCO $27.85 +0.28
Charlotte ICE $184.92 -3.52
Dustin DST $73.26 +0.86
Ghost Marisa MOLXA $25.78 +0.10
Icarus FAST $47.53 -2.71
Jenny JNY $17.01 -0.29
Jodi Ann JOY $51.10 +0.62
Justin SCI $19.11 +0.04
Katie CATY $24.00 -0.68
Lee TGI $77.28 -3.02
Lisa LNCE $27.77 -4.21
Lucas LEI $1.34 -0.02
Lulu LULU $72.58 -0.12
Marcus MCS $12.67 -0.56
Mario T.E. MGEE $58.50 -0.50
Mario T.Y. MAR $40.94 -1.48
Namilita NL $10.71 -0.65
Nicole E. NICE $37.62 -0.98
Nicole M. COLM $61.34 -3.24
Reagan REGN $250.01 -22.38
Ruby RJET $12.57 -1.28
Wilson WILC $7.25 +0.08
Winston ED $60.30 -0.07
Zero ZAGG $4.97 +0.04
Zondro ZQK $5.83 -0.69
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