Tuesday, June 25, 2019
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Hardcopy Research: last shipped June 5, 2019
Online Research:

Strategist updated a/o 06/05/2019
Workbook
updated a/o 06/21/2019
File Downloads Weekly >> updated a/o 06/21/2019
File Downloads Monthly >> updated a/o 05/31/2019

Media: 02/07/2012: 2011 Top Performers

08/16/2011: 6 stocks insiders are snapping up

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MPT Newsroom

WEEKLY RESEARCH: Weekly Insider Data and Commentary files were last updated on Sunday, June 23rd 2019, with data as of the Friday, June 21st SEC closeout. Please review your Commentary File for particulars. The Insider portion of the Workbook section of the Website was populated with new weekly data and e-mail versions were distributed as well. (Data for all companies, and broad strategy commentary highlights) The Insider Commentary file of the past weekend includes an updated, thumbnail Strategic view of the Markets from the top-down perspective of all models. MPT Top Down View Drops to Bearish at "-1".  On a price performance basis, at the ETF Sector level, Energy, and Health Care outperformed.  Consumer Staples, and Financials, lagged.   Energy, Basic Materials, Rails/Trucking, Consumer Staples, and Medical remain Over-weights.  The Market cannot be viewed as a singular snapshot, but operates as a dynamic, moving picture. Employing MPT research to follow and anticipate the most probable trend features, and changes, is an important aspect of the research.

MONTHLY RESEARCH: The July, 2019 edition of Market Profile Theorems will be run based on the data close-out of Friday, June 28th, 2019. Your specific monthly data files will be pushed to you on Sunday, June 30th, 2019.  WEB site data (Workbook section) will be available on Monday by 9:00 AM, and included refreshed Probability Plots, Screening features, and Files located in the monthly File Download section of the Web-site. The Strategy notebook should arrive on Friday, July 5th. If you did not receive your files, or the notebook by the dates indicated, please contact us.  Reach us by e-mail or call 206-890-6789 if you wish to schedule a conference call in July. Our current universe of coverage is 3,964 issues.

GENERAL COMMENTARY: The June asset allocation projection carries neither clear Capitalization bet, nor does it favor Value or Growth.  MPT bottom-up model performance, relative to the S&P 500, was poor in May.  The aggregate top-down model drops to Bearish at "-1" this week.  The Technical Model also turned Bearish, scoring "-3."  The tenor of the Top-down Earnings Model (+1.23) improved further, but remains negative and Bearish in trend.  The second official reading on the economy for Q1 of 2019, slipped from the first, recording GDP at 3.1%.  The MPT Q2 GDP estimate is remains 1.1%. Yields were lower, and spreads gained more to 30 b.p. (2 to 10 year).  See the weekly Insider Commentaries, and the monthly Strategist, (Green Book) for further details and interpretation.  The Dollar was crushed, falling to 95.72.  Cycle peak of 98.  Gold exploded higher, finishing at $1400.10.  The base here appears substantial, but remains over-bought in the short-term.  It remains a long-term buy, and we expect 2019 to show more strength.  $1550 remains our target high.  Inflationary Forces are more focused toward higher levels in the long-run, with already established wage Inflation spiking higher with three consecutive periods of +3% gains.

The Market Cycle, in terms of MPT's "Market Clock," remains at 7:00.  Buy More Selectively.

Top-Down Look Back: Equity selection for the trailing 36 Months has been excellent.

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In the pursuit of any endeavor it is important to realize the contributions that others have made to ones success. The product that we deliver in the following pages is no exception. For the knowledge derived from research in the area of Earnings Estimates and Earnings Surprise we are, as is every serious student of this subject, deeply indebted to Professors Rendleman, Latane, and Jones for papers published at both Duke University and the University of North Carolina.

Thanks also to Dirk van Dijk formerly of IBES and now of Zachs, and Eugene Hawkins & Stanley Chamberlain both of IBES. We credit work in the area of Insider Activity done by Joseph E. Finnerty, James Lorie & Victor Niederhoffer, Kenneth P. Nunn & Gerald P. Madden, Stephen H. Penman, and Dr. Martin Zweig. An early 1984 study on Value vs Earnings markets by Theodore M. Theodore of Morgan Stanley, Inc. was the near term trigger for the Market Profile study presented in these pages. We thank Benjamin Graham & Warren Buffet for teaching us the meaning of value, and on the other side of the coin, Peter Lynch & John Herold for reminding us that at some point value must be expressed as earnings. The Technical study is primarily Relative Strength (Price & Volume). Jim Sibbet, Curtiss Dahl & P.J. Kaufman are just a few of the people to whom we owe credit to in this area.

We would also like to thank the many Money Management Professionals across the country whose input we sought and whose opinions were so unselfishly given during the development of this project. Thanks to them, this is truly a product developed by money managers for money managers. Finally a special thanks is owed to our investors who provided us with the freedom to pursue our dream. September 1, 1989 Seattle, Washington.

Copyright ©2003 Market Profile Theorems, Inc. All rights reserved.

The data contained in this report were taken from statistical services, reports in our possession, and from other sources. The opinions and estimates expressed are our own, and we make no representation either as to the accuracy or as to the existence of other facts or interpretations which might be significant. The information herein was gathered from responsible sources but we cannot guarantee its accuracy or completeness. We may from time to time have a position in the securities described in this report and may buy or sell such securities.