Second Quarter 2011 Market Bulletin. Valuable Read From Lange Financial Services. S&P 500, Markets, Stock List Updated. Bullish
Sun, 04.03.11 6:09pm EST
LANGE FINANCIAL SERVICES 2D QUARTER 2011 MARKET BULLETIN. S&P 500, MARKETS, AND STOCK LIST UPDATES.
Lange Financial Services: Sunday April 3, 2011 3:45PM
Lange Financial Services, through The Wall And Broad Report web site, has been using $100 or more for S&P 500 earnings in 2011 and a Street high projection of $110 for 2012 since their post on December 1, 2010 and before on this site ( Click Here). Practically all forecasts were substantially below these projections when we first made them last year. Most have remained under these forecasts though we expect substantial upward revisions in the weeks ahead.
Standard And Poor’s is now using $105 and $110 for this year and next year fully supporting our strong market optimism during the rally from the 2110 market bottom. S&P is using a S&P 500 target of 1444. Thomson Reuters is using a target of 1533. We will stay with our long standing target of 1550 on the S&P 500.
Being well ahead of the earnings targets of practically all of the investment houses permitted us to be, and remain
very bullish over the last nine months. We ignored all the calls for a correction of 10% or more from the summer bottom as inconsistent with the market’s technical and fundamental structure. The only reason that a correction exceeded our February call of 3%-4% was a reflection of the unexpected and unpredictable-earthquake, tsunami, nuclear crisis, and Mid East uncertainties, all at the same time, setting up great buying opportunities. See recent bullish posts on this site of March 15th, 18th, 23d, and 31st.
The market is now up 10 of the last 12 days and can be called somewhat overbought, being up some 750 Dow points since March 23rd. Overbought markets are generally viewed as Bullish. While a modest pullback is possible, we remain quite bullish. We continue to recommend accumulation of well positioned companies possessing excellent earnings prospects into 2012. Our Master List of favored stocks to accumulate on weakness is posted below. You can always find them on the ” Favored Stocks ” page located on the menu bar above.
The Master List
These are companies, (Favored Stocks) that Lange Financial Services and The Wall And Broad Report currently favor as trading and or investing vehicles for accumulation during periods of weakness. We will update the list in the Favored Stocks section frequently.
Apple, Inc. AAPL
Alpha Natural ANR
Apache Energy APA
American Express AXP
Peabody Energy BTU
Cliffs Natural CLF
Deckers Outdoors DECK
Devon Energy DVN
Federal Express FDX
F5 Networks FFIV
3M, Inc. MMM
Starwood Hotels HOT
Walters Energy WLT