No detailed market report this week – I’ll hold off for a few days until the Lehman, Merrill issues (updated: BAC buys Merrill) get sorted out.. of course the July lows will be the critical hold area.
Fed rate decision and CPI Tuesday and earnings out of Goldman, Morgan Stanley and Lehman this week so remaining on the sidelines for the most part continues to be the best strategy.
::: Model Portfolio :::
** This section will now appear as a separate report about every other Wednesday.
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::: Best/Worst Performers :::
– Top 10 Performing Industries For the Week –
1. Food Wholesale: 7.79%
2. Air Delivery & Freight Service: 7.75%
3. Residential Construction: 7.50%
4. Banks – Mid Atlantic: 7.20%
5. REIT – Hotel/Motel: 6.40%
6. Manufactured Housing: 6.10%
7. Banks – Southeast: 5.50%
8. Regional Airlines: 5.20%
9. Auto Parts: 5.20%
10. Banks Pacific: 5.10%
– Top 10 Worst Performing Industries For the Week –
1. Mortgage Investment: -50.25%
2. Investment Brokerage – National: -17.60%
3. Internet Service Providers: -11.55%
4. Silver: -10.20%
5. Broadcasting – Radio: -9.70%
6. Investment Brokerage – Regional: -6.90%
7. Personal Computers: -6.90%
8. Resorts & Casinos: -6.20%
9. Nonmetallic Mineral & Mining: -5.70%
10. Semiconductor – Specialized: -5.30%
– Top 5 Best Performing ETFs For the Week –
1. iShares US Home Construction (ITB) 8.75%
2. iShares South Korea (EWY) 7.75%
3. SPDR Banking (KRE) 7.35%
4. SPDR Homebuilders (XHB) 6.90%
5. Korea Fund (KF) 6.15%
– Worst 5 Performing ETF’s –
1. Herzfeld Cuba (CUBA) -13.40%
2. Indonesia Fund (IF) -11.75%
3. Templeton Dragon Fund (TDF) -11.25%
4. iShares Silver (SLV) -10.65%
5. iShares Dow Jones (IAI) -9.65%
::: Upcoming Economic Reports (9/15/2008- 9/19/2008) :::
Monday: Capacity Utilization, Industrial Production
Tuesday: CPI, FOMC Policy
Wednesday: Building Permits, Housing Starts, Crude Inventories
Thursday: Leading Indicators, Initial Claims, Philly Fed
Friday: None
::: Earnings I’m Watching This Week :::
Monday: Titan Machinery (TITN)
Tuesday: Adobe Systems (ADBE), Goldman Sachs (GS)
Wednesday: Morgan Stanley (MS)
Thursday: Lehman Bros (LEH), Oracle (ORCL)