1.Tranports…..CSX Big Day After Earnings.
Dow Jones Railroad Index 60% Rally off 2016 lows…50 day thru 200 day to upside on big volume. Not Recession like chart???
Topley’s Top Ten – April 20, 2017
1.10 Year Treasury Yield Hits a 5 Month Low…Bond Bull Not Going Out Without a Fight.
10 Year Treasury Yield Breaks Below Channel from Post Election Rally.
https://www.wsj.com/articles/bond-markets-send-jitters-but-is-anyone-listening-1492606188?tesla=y
Topley’s Top Ten – April 18, 2017
1.Ford and GM have Two of the Lowest P/E’s in S&P…..TSLA +41% YTD vs. F-GM Negative…..TSLA Trading at 271x Earnings.
Ford has the fifth-lowest price/earnings ratio in the S&P 500. The absolute lowest belongs to rival General Motors, which at $34, trades for under six times projected 2017 earnings. Barron’s has written favorably on GM, including in an article earlier this year (“GM Shares Could Drive 35% Higher,” Feb. 18), when GM traded around $37.
http://www.barrons.com/articles/ford-shares-are-too-cheap-1492229293
TSLA vs. U.S. Carmakers.
www.yahoofinance.com
TSLA Lost $675 million in 2016
Read Full Story at WSJ
https://www.wsj.com/articles/what-is-tesla-really-worth-1492365561?tesla=y
Topley’s Top Ten – April 17, 2017
1.Leading Sector in 2017 Tech Finishes Down 10 Days in a Row. XLK +8.29% YTD vs. S&P +4%
The Standard & Poor’s 500 Information Technology Index has finished lower 10 days in a row, only the fourth such streak since 1989, when daily data on the sector was first posted, according to Bespoke Investment Group.
Barrons
http://www.barrons.com/articles/stocks-slip-1-on-week-as-geopolitical-worries-grow-1492229480
Topley’s Top Ten – April 14, 2017
1.15% Year Over Year GAAP Earnings Growth is Higher than All but Three Previous Bull Market Peaks.
FUNDAMENTAL
Last year’s earnings rebound appears to be continuing in 2017. The 15% year/year growth in S&P 500 GAAP EPS is higher than at all but three previous bull market peaks and dividend growth remains above average. We are skeptical, however, that earnings will grow as fast as consensus suggests, as year/year comps become more difficult, earnings momentum will likely slow, leaving the market left with both elevated expectations and valuations.
Ned Davis
www.ndr.com