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Transport Stocks Signally a Sell...
Interesting developments to come - See what made the cut...


Transport Stocks Signally a Sell...
The Dow Jones Transportation Average (DJI:DJT) fell 5.4% last week, a sharp contrast to a boring but steady performance by the Dow Jones Industrial Average (DJI:DJIA). The transport sector is typically seen as a leading indicator for the broader equities market as it features prominently in the Dow Theory as one of the oldest market timing tools out there. According to the old theory, if the Dow Jones Transport Average fails to confirm the strength of the Dow Jones Industrial Average, the market is headed for a correction. Industrials hit a fresh high September 14, 2012 of 13,682 points. Dow transport stocks not only failed to confirm the gain, they scoured precipitously lower. It began last Tuesday, FedEx (FDX) reported weak fiscal Q2 results, slashed full-year earnings outlook to signal that the global economy might really be as bad as many fear and finished the week with a 6.4% loss. Last Wednesday, Norfolk Southern (NSC) warned Q3 profit would miss Wall Street expectations and finished the week down nearly 13%. CSX (CSX) shares, hit by fallout from Norfolk Southern, shed 8.8% at the close of the week. Since the start of the current quarter, the Dow Transportation index is down 5.7% compared with a 5.8% advance by the Dow Industrials. Investors will be monitoring the transportation sector cautiously in the upcoming trading week as they take the time to digest current conditions, for the market bellwether..


Apple iPhone 5 Craze...
The new craze of consumers is getting their hands on Apple's (AAPL) new iPhone 5. Word on the street has Apple selling nearly 6 million of them, into Monday. A successful launch is crucial for Apple, which now counts on the iPhone for the majority of both its revenue and profits. The iPhone 5 went on sale in the United States, Australia, Canada, France, Germany, Hong Kong, Japan, Singapore and the United Kingdom on Friday, with the rollout to continue to 22 additional countries in the upcoming week. Apple expects to be in 100 countries with the device by the end of the year. Apple does not disclose the number of units available for the initial launch with early stock-outs could indicate a problem of meeting high demand, especially given plans for the extended rollout in the new week. Apple iPhone fanatics in Australia were the first in the world to get their hands on the iPhone 5. Outside the Apple store in Sydney’s central business district, crowds stretched around a city block early last Friday. Some consumers at the Sydney location said they had been camped outside the store since Tuesday. Around the world, cheers went out as customers emerged with the new prized device. According to an update issued on Foursquare, Apple co-founder Steve Wozniak took up a spot in line outside a store in Chermside, near the Australian city of Brisbane. Reports are being released that some individuals are buying the iPhone 5 to turn around and immediately resell it at a premium price. Apple’s new mapping application which replaces the one designed by Google Inc. (GOOG) used in previous devices, is weak point of the new device. Into upcoming days, it will be interesting to hear of any other complaints about the new cell phone craze. From a business standpoint, the iPhone is Apple’s most important product, driving 53% of the company’s total revenue for the first nine months of the company’s current fiscal year. Needless to say, there are a huge host of traders frothing at the mouth for one chance to short the rocketing stock.


Crude Oil Down Nearly 6 Percent on the Week...
Even though the price of gas at the pump is holding near the four dollar a gallon mark, black gold ended last week down nearly 6 percent at $92.89 a barrel, in New York for crude futures (NMN:CLX2). Players on Wall Street will maintain a close watch on oil, into the new trading week ahead of us. When oil heads south, the market tends to follow, both as barometer of the global economy and because it is the support for 20% of the S&P 500. Just to name a few, oil suffered setbacks earlier last week on contract expiration, talk of a strategic petroleum reserve release, comments from Saudi Arabian oil officials and rising inventories.


Increased Dividends Could Stir up a Buying Frenzy...
As firms try to put to work some of the near-record heaps of cash they’re holding, we're seeing a surge of companies announcing increased dividend payouts. Just last week, the following companies announced that they would raise their dividends: American Tower REIT (AMT), ConAgra Foods (CAG), Covidien PLC (COV), Fifth Third Bancorp (FITB), Host Hotels & Resorts (HST), Lennox International (LII), McDonald’s (MCD), Microsoft (MSFT), Texas Instruments (TXN), Western Asset Mortgage Capital (WMC) and Yum Brands (YUM). Investors will likely be adding companies to their 'watch' list to potentially move some investments around to take advantage of increased dividends.


Spain and Italy Disaster Waiting to Happen...
Spanish Deputy Prime Minister Soraya Saenz de Santamaria said last week that Spain will consider seeking a bailout if the conditions imposed are acceptable. Should a country hit the aid button, the related 'procedures would be very heavy from both a political and economic point of view' and any conditionality would carry uncertainties. A senior Italian government official said that neither Italy and Spain would request bailouts unless a new surge in bond yields leaves them shut out of markets, as no government will voluntarily accept conditions imposed for the aid. “There won’t be any nation that voluntarily, with a pre- emptive move, even if rationally justified, would go to an international body and say, ‘I give up my national sovereignty,’” Gianfranco Polillo, undersecretary of finance, said in an interview in Rome late yesterday. “I rule it out for Italy and for any other country.”


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