Klein Market Summary-April 15th, 2013

Klein Market Summary

April 15th, 2013

 Current Market Facts:

Technical Status

 Rally Beginning Week 16
   

Other Observations

Powerful accumulation has powered markets to highs

Many leading stocks rebounded with the market

   

Feel of the Market

The market continues to surge, shaking off every concern
   

Important Levels on Key Indices:

Index

Support

Last Close

Resistance

Nasdaq

3215

3295

3300

Nasdaq 100

2812

2856

2878

S&P 500

1575

1588

1600

 DJIA

14684

14865

15000

Market Interpretation:

Last week’s action was a display of clear support and accumulation as the indices surged to highs on big volume.  It is interesting to consider that the DJIA and the S&P 500 are at all time highs even as economic fundamentals might seem to be consistent with lower levels.  The NASDAQ indices have lagged this year because of the enormous weighting of AAPL and its 20% loss for the year.  Other than AAPL, tech stocks have not lagged, but they have not been quite as strong or resilient as other groups.

While the rally seems to be extended, the recent strength in biotechs could help to fuel further upside.  Only a week ago, the indices seemed ready to correct, but buyers rushed in, even despite a disappointing employment report.

Joel’s Take:

Liquid leading stocks.  Many stocks seem ready to continue their uptrends, and others already have.  The best liquid leading stocks range from HD and V to biotechs, GILD, BIIB, REGN, and CELG, to other innovative leaders such as LNKD, CREE, GMCR, and FLT.  While the market has been wild, it is clearly under accumulation again.

Whether the market is under accumulation from institutional money managers or from central banks, like the Fed and the ECB cannot be known directly at this time.  Ultimately, it doesn’t matter.  This powerful uptrend continues to offer up abundant opportunities.

  • The Klein Market Summary is a professional interpretation of the general stock market conditions that is updated on a weekly basis.  Joel T. Klein is the portfolio manager of the investment partnership Blue Diamond Capital, LP. He writes the summary using select technical and fundamental data.  The Klein Market Summary is not intended to provide investment advice of any kind, and is only provided for the entertainment of the reader.  It is typically updated Monday morning, weekly.  Please e-mail info@kleinasset.com, if you are interested in receiving this free weekly update.
  • Past performance is not a guarantee of future results.  Due to market volatility, a fund’s performance may fluctuate.  Current performance may be less than previous results.  An investment a hedge fund when redeemed, may be worth more or less than the original cost.  Information above is not a replacement for the Fund’s prospectus.  This webpage does not constitute any kind of offer or solicitation.  Additional information on investment objectives and policies is in the Fund’s prospectus.  Ask your representative for a prospectus.
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About kleinmarketforum

Klein Asset Management, LLC, formed in 2003, serves individual investors via a directional growth stock approach. When the market is in an uptrend, the firm seeks to exploit investment opportunities. When the trend is down or neutral, assets are protected. Klein Asset Management undertakes major market research projects. In many cases, these result in improved investment methods, which ultimately improve performance.

One response to “Klein Market Summary-April 15th, 2013”

  1. Mike Hicks says :

    Hello Shan. Thank you for another challenging tax season experience. Last night’s beer and breakfast was GREAT! Thank you for your generosity.

    The gentleman below is one of the three firms from Chicago that you could talk to about client accts. Joel founded his fund in the 1990’s so has proven he is a long term player. If interested, I could ask him to come down and meet with you. We could also talk with Vikas for aggressive portions of client accts.

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