Ticker Sense

Re-Read "the next CRASH"

the next CRASH was written and distributed to Birinyi Associates' clients in August of 2007.  In it Mr. Birinyi questioned the rationale behind structural changes such as decimalization, ECNs, and increasingly more complex trading strategies and vehicles.  As a result of the essay, Birinyi Associates arrived at the conclusion that "the markets in the first decade of the 21st century are prone to systemic failure as a result of technological innovations and utilization, rapid growth of sophisticated but not necessarily vetted instruments, and other changes in the wide world of finance...We believe the various structural reforms of the 1990s have not achieved the desired effect with regard to the individual." 

We continue to wonder why nobody is PISSED.  These kinds of market gyrations have not occurred since the 1930s, and as much as international financial markets have been disrupted, changes to the structure of the stock market have gone seemingly unnoticed.  Specialists and the services provided by the New York Stock Exchange have been removed from the picture causing market anomalies that are detailed in the publication, but have also been highlighted here.  What we have witnessed over the last two months is the culmination of flawed and short-sighted complex instruments and theories. 

Below we highlight some recent charts depicting huge market irregularities that went largely unexplained.

 

  

  

  

  

Additional information has been posted on this blog over the last year, visit these posts for more:

Google's 9/30 Activity: What If OOPS Doesn't Cut It

Ruling Out Speculation in the Oil Market

Financial Sector Has Best Six Day Move EVER!

S&P 500: Yet Another Cause for Concern

The SEC Uptick Rule Change: Bad Timing for a Bad Idea

S&P 500 Calculation Error

Upticks: More Freedom, Less Security

Taking Off the Collar (and the leash)

Birinyi Associates continues to be on the forefront of market research and analysis.  Their work and commentary is featured by Forbes, Reuters, Bloomberg, the Wall Street Journal, Barron's and the New York Timesalmost daily.  To stay ahead of market developments, macro trends, and market scuttlebutt that isn't mentioned in the news many investors, traders, institutions and individuals turn to Birinyi Associates.  Click here to learn more about Birinyi's newsletter and one of the finest research products available, the Mini-Institutional service.

Birinyi In the News

Laszlo Birinyi will appear on CNBC today at 3:30 to discuss volatility in the US equity market and strategies going forward.

Three Stocks Expected to Decline

Over the past year analysts at Birinyi Associates have developed a proprietary new trading program used to identify stocks as they gain negative momentum.  This program has identified a select few stocks, only 15 out of the S&P 500 names in the last year, 13 out of the 15 have been down over the following week for an average decline of -5.9% over the week.  Some of the previous stocks are highlighted below, subscribers of Birinyi's Mini-Institutional service received the three new stocks via email already this morning.

Click here for more information about the Mini-Institutional service by Birinyi Associates, or call us at 800-357-4468 for details.

Birinyi In the News

Laszlo Birinyi appeared on Bloomberg TV this morning to discuss the US equity market with focus on financial and energy stocks.  Click here to read Bloomberg's report.

Birinyi In the News

Laszlo Birinyi will appear on Bloomberg TV tonight (June 25th, 2008) to discuss the US Equity market and this month's newsletter, scheduled to be published at 5pm.

Birinyi In the News

Laszlo Birinyi, president of Birinyi Associates, appeared on Bloomberg TV this morning to discuss the US stock market and financial stocks in particular.  As part of Bloomberg's summary of the interview, they also highlighted some of Birinyi's recent calls both in interviews and reports:

"Birinyi's Calls

Birinyi worked for about 12 years on the trading desk at Salomon Brothers before starting his research and money management firm in 1989.

He said in an interview with Bloomberg TV on May 21 that shares of U.S. energy companies have climbed too fast, leaving investors vulnerable to losses. The S&P 500 Energy Index has since declined 3 percent.

Birinyi said on April 8 he bought shares of Apple Inc., the maker of iPod media players and Macintosh personal computers, and Google Inc., owner of the most popular Internet search engine. Apple has since climbed 20 percent, while Google has gained 21 percent."

For the full story, including a video clip of Mr. Birinyi's appearance, click here for Bloomberg's website.

Birinyi Associates Enters Record Book As Stock Market Trivia

Birinyi Associates' Jeff Rubin was featured as one of CNBC's trivia questions for their Million Dollar Portfolio contest.  The question, referencing a prior Birinyi bulletin also displayed here, asked what Mr. Rubin had thought about Mr. Pickens' forecasts.

Birinyi Associates: Still Picking Winners

As many readers of Ticker Sense already know, Birinyi Associates publishes a monthly newsletter which includes (among other things) three model portfolios.  As newsletter subscribers know, two of those portfolios have had an outstanding year so far.  In fairness to subscribers we are not able to print the featured stocks, but we are able to print several reasons why you should subscribe to Birinyi's newsletter today.

The three portfolios are all beating the market month-to-date, and two of them have crushed the S&P 500 year-to-date.

Out of the ten stocks in the Growth portfolio, four are up over 10% for the month; and two of them are up over 25%!

The low cost of $225/year or $22.99/mo makes Reminiscences one of the best values on the street.  The average long-short equity hedge fund is down 0.50% for the year, and up 2.01% for the month. At $225/year Birinyi's growth portfolio is outperforming the funds 4 to 1.  For more information about the newsletter, and how to subscribe click here.

Birinyi In the News

Laszlo Birinyi will appear on Bloomberg TV tonight (April 30th, 2008) at 7:30pm to discuss the market, strategy and his view going forward.

Birinyi Reminiscences Newsletter: Priced to Win

Published monthly, Mr. Birinyi's newsletter, Reminiscences, highlights key views on the market, changes in sentiment, updates on sector information and earnings, in addition to a 30 year market veteran's views and commentary.  This week only we are running a RARE special on annual newsletter subscriptions.  Subscribe today and pay only $190 for the year, that's 15% of the annual rate and 30% off the monthly rate.  Call 1-800-357-4468 to subscribe.

The Birinyi Newsletter Service includes:

• Monthly Newsletter (8-10 pages plus inserts and additional information)
• Birinyi Proprietary Stock Ratings (four part rating system analyzing the S&P 1500 universe)
• Birinyi 50 (index and details of top 50 stocks in S&P 1500 universe)
• Periodic updates during the month if needed

Birinyi's team also maintains three newsletter portfolios, conservative and growth are ten stocks each, the trading portfolio is five stocks (stop loss and objective limits are detailed).  The performance is measured since the last publication, we note that the Growth portfolio has gained 9.23% during the month, and Trading is up 7.92%.

To subscribe at the special annual rate of $190 call our office toll free at 1-800-357-4468.