Monday, July 28, 2008

Sectors and Styles Strategy Report: July 28, 2008

excerpts from this week’s report:

Model Growth Portfolio (MGP)
“Last week’s modest decline in relative performance moved the year-to-date results off its high to 346 basis points over the S&P 500…”

Expected Return Valuation Model
“While risk expectations declined last week with the VIX dropping below 23, it does seem more realistic to consider the prospects of a P/E ratio around 17 versus the BMR forecasted 19.2. Given the likelihood that a further weakening global economy, uncomfortably high inflation, and the prospects for the second wave of bank losses, a move toward…”

Moving Averages Scorecard
“While last week’s market action produced a standoff in the bottom line mega trend reading at the still fairly bleak at 29.17%, most indices moved more toward the negative side of the equation. Notably is the drop to bearish for Emerging Markets (EEM). Moreover, unless markets rally quite significantly or at least stabilize, the negative readings will likely increase pushing nearly all indices into bearish territory…”

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