The Three-Day Losing Streak May End

It’s a fairly quiet morning on Wall Street. The S&P 500 was negative and has since turned positive. This may end a three-day losing skid for the index. The cyclicals are leading the way today with the Industrials and Consumer Discretionaries up the most. Small-cap indexes are doing especially well.

Today’s Case-Shiller report on home prices showed that the growth in prices may be slowing. Home prices rose 1.8% in July which was down from 2.2% growth in June. This could be evidence that higher mortgage costs are finally being felt by home buyers.

fredgraph09242013

With the Fed’s taper/no taper decision, the five-year Treasury has become the most interesting security to watch. In May, the five-year yielded 0.65%. By September 5th, it had jumped to 1.85%. Last week, it dropped back to 1.42% and may go even lower today. The five-year is currently at 1.43%.

On our Buy List, Bed Bath & Beyond ($BBBY) is due to report tomorrow. Three months ago, BBBY gave us a range of $1.11 to $1.16 per share. I like this stock a lot. Moog ($MOGA) made it to another 52-week high.

Finally, I noticed that Tyler Technologies ($TYL) is at $87.59 today. You could have picked up one share of TYL in 2001 for $1.

Posted by on September 24th, 2013 at 11:50 am


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