By Lawrence G. McMillan
We are going to have a slight schedule alteration for August. Since there are five Thursdays in July, and since our office is going to be closed at the end of August for three days, we are going to publish this newsletter on the first and third Thursdays in August. This allows us to keep the two-week spacing between issues without skipping an issue. Regular publication dates will resume in September. The weekly Hotline updates will continue to be issued as usual.
The feature article points out that breadth is beginning to negatively diverge away from $SPX. If this persists, that is quite bearish. Another rather lengthy article begins on page 12 – discussing the lessons that one can learn from the brief explosion in volatility that occurred last week when geopolitical events scared the market.
On page 6, we review the current crop of takeover candidates and rumors, and two recommendations are on that page as well.
On page 9, there are several recommendations: event-driven positions in ACRX and EXPE. There is also a trade in the Coffee ETF (JO), based on extreme negative sentiment, and recommendation in Wal-Mart (WMT).
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