Ann Inc (ANN)

Taylor now Ann Inc (ANN) will report earnings tomorrow and estimates are $0.70 versus $0.89. There is some but not a great deal of upside to this name.

ann

The Madison Letter: Weekly Update

Since inception, our overall timing return is 76.49% versus 44.48% on the S&P 500 for excess return of 32.01%.

We added a buy on iShares Core S&P 500 Index Fund ETF (IVV) and took gains on Tuesday 9/2.

We began to offer a buy and sell strategy via our Madison Market Timing Indicator at the beginning of April of 2007. There are now 24 open and closed winning trades to 8 closed losing trades with our market timing results. We were left with one long position TRF from our original buys before launching with Uncommon Widsom Daily. This column replaces the Morning Matters on Fridays.

madison market timing

Lowes Company (LOW)

Lowes Company (LOW) will report earnings before the open. The stock has no upside as it is sharply above its price target. Earnings estimates are $0.58 versus $0.47.

 low

Jack In The Box (JBX)

Jack In The Box (JBX) will report earnings after the close. The stock has run too far, too fast. Avoid for now.

 jack

Portfolio Update

The S&P 500 has risen since our last update. The Nasdaq Composite rose as well. The portfolio is now 84% invested long, 0% short and 16% in cash, net long 84%. We are now at a value of 929.11% from 918.16% last Tuesday.

It appears for the time being that 2000 on the S&P 500 has become support and 2050 is resistance.

We have added the price target from the Alpha Intelligence Stock Scorecard into the weekly update. Names above price targets are highlighted in yellow. We will remain with these names as well until technical violations begin. ETFs recommendations can be found in The Madison Letter. In 2014, this will be updated each Friday with Market Crash Indicators. We added USO on the buy side last Friday.

Remember these returns are total returns with the average change for all winners and losers is 8.22% per idea. Our batting average of closed winners and losers is 73%. The portfolio is up 929.11% and from inception when it began at 0% in April of 2008. We began 2013 at a value of 478.60% so we had a very nice gain for 2013 ending at 732.40%. So far this year we are up 196.71 points or 26.85%. The performance on the Uncommon Wisdom Daily Portfolio Tracker is a bit higher due to dividends which they add in. We have never added in dividends so our weekly results are understated since 2008.

Jacob’s Engineering (JEC)

Jacob’s Engineering (JEC) will report earnings after the close. Estimates are $0.86 versus $0.84. There is some nice upside for this name.

jec

The Week Ahead

1.Geopolitical and Fiscal Events. Monday sees the Federal Reserve Chicago President Evans speak at 10:00 a.m. EST. Tuesday Federal Reserve Minneapolis President Kocherlakota speak at 1:30 p.m. EST. FOMC Minutes out Wednesday at 2:00 p.m. EST. Thursday sees Federal Reserve Governor Tarullo speak after the close at 8:30 p.m. EST. Friday sees Federal Reserve Cleveland President Mester and San Francisco President Williams speak.

2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims include industrial production, PPI, housing starts, CPI, existing home sales, leading indicators and Philadelphia Fed Survey.

3.Earnings Releases. Notable releases include (in order of day’s reporting with Tuesday first and Friday last JD TSN HD MDT LOW TGT INTU GAP FL SIRO among others companies as we continue Q3 earnings.

Weekly Charts Updated

Each week we highlight charts below of the SP500, Russell 2000, NASDAQ Composite, UUP, EEM, TLT, HYG and LQD. The charts use the 50 day moving average slope indicator. When it is green we like the instrument we are tracking and when it is red we avoid the name/sector/asset class.

U.S. Equity indexes are all in the green. The S&P 500 is above 0 with the NASDAQ Composite. Meanwhile the Russell 2000 just broke above 0.

All charts are created from www.erlangerchartroom.com and if interested in using this indicator in Chart Room please feel free to send us an email by using the Contact Us section from the home page.

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Walmart (WMT)

Earnings are due out tomorrow morning for Walmart (WMT). There is some nice upside to this name that has been doing well as of late technically.

 wmt

Ecana (ECA)

Ecana (ECA) will report earnings before the open. Estimates are $0.46 versus $0.20. There is decent upside to this once high flier. Any weakness should see $17 hold as support.

eca