Succinct Summation of Week’s Events 12.22.17 (plus the AAII CAN SLIM course)

One last Merry Christmas to one and all!  Below is the usual weekly summation with Q3 GDP rising over 3 percent and bitcoin losing over $100 billion dollars.  Yes, that's a "b," 1/10 of a trillion!  This holiday weekend's bonus is a beautifully concise explanation of the IBD CAN SLIM approach to investing.  No need to slog through William O'Neil's 500 page classic text, "How To Make Money In Stocks."  Just read this article instead.  We are a FastTrack group but it seems that by far the next most popular strategy out there is CAN SLIM so I submit this as a Christmas present to the group as an introduction to the IBD strategy for those who may not be familiar with or understand it.  Hope everyone continues to enjoy the holidays.  Today is Black Tuesday, the day we get the best deals on everything.


Succinct Summation of Week’s Events 12.22.17

December 22, 2017 4:30pm by Barry Ritholtz

Succinct Summations for the week ending December 22nd, 2017

Positives:

1. Third quarter GDP rose 3.2%.
2. The Air is coming out of the Bitcoin bubble, as prices fell 25% to below 13,000.
3. Leading indicators rose 0.4%, above the 0.3% expected increase.
4. New home sales rose from 685k to 733k, above the 650k expected. The 17.5% increase is the largest monthly change in 25 years. Consumer spending rose 0.6% m/o/m, above the 0.3% expected increase.
5. Existing home sales rose 5.6% in November, to a 5.81 million annualized rate, well above the 5.55 expected; Housing starts came in at a 1.297 million annualized rate, above the 1.24 million expected.

Negatives:

1. Bitcoin just lost 100 billion in recently created value; let’s hope not too much of that was on margin.
2. Personal income rose 0.3% m/o/m, below the 0.4% expected rise.
3. Durable goods rose 1.3% m/o/m, below the 2% expected increase.
4. Jobless claims rose from 225k to 245k.
5.Mortgage applications fell 4.9% w/o/w.

  12-19-17 AAII: The CAN SLIM Strategy