RECENT NOTES
11/13/15 NUS | SHOW ME THE MONEY!
11/13/15 NUS | BLACK BOOK PRESENTATION REPLAY
11/10/15 HAIN | THE COMPETITIVE ISSUES ARE JUST BEGINNING
11/05/15 BDBD | ADDING IT TO THE LONG BENCH
SECTOR PERFORMANCE
Food and organic stocks that we follow underperformed the XLP last week. The XLP was down -2.7% last week, the top performers on a relative basis from our list were Amira Natural Foods (ANFI) and Dean Foods (DF) posting increases of +34.8% and +5.8%, respectively. The worst performing companies on a relative basis on our list were Flowers Foods (FLO) and Hain Celestial (HAIN), which were down -9.1% and -6.9%, respectively.
XLP VERSUS THE MARKET
QUANTITATIVE SETUP
From a quantitative perspective, the XLP is BEARISH on a TRADE and TREND duration.
Food and Organic Companies
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Keith’s Three Morning Bullets
Both US and European Equity Beta signaled immediate-term oversold into Friday’s close:
- EURO – down another -0.4% vs. USD at $1.07 this morning with the more important line of support being the YTD low of $1.05. While Dudley’s latest comments on “inflation continues to run well below the Fed’s target” are new/dovish this am, the FX market is obviously focused on the tragic events in France
- KOSPI – last week was ugly for everything Global Growth Expectations and KOSPI continued to break-down overnight down another -1%, taking it’s month-over-month decline from OCT’s counter TREND bounce to -4.3%
- COPPER – fresh new lows (again) this morning as Copper’s #Deflation Crash continues, -1.1% to $2.12/lb – the 6 month crash in Copper is -26% vs. WTI Oil’s at -35% - the Fed would have to back off the DEC hike to arrest the #Deflation
SPX immediate-term risk range = 1; UST 10yr Yield 2.15-2.36%
Please call or e-mail with any questions.
Howard Penney
Managing Director
Shayne Laidlaw
Analyst
