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Week of July 26th, 2010
VP, Futures Division, Bill Bayer, quoted in Bloomberg 7/19/10: Wheat Falls for Second Day as Investors Bet Prices Have Peaked


As of 6/30/10, the Protected Index Program® has beaten the S&P 500 Index by 37.16% and the IWM Russell Index by 26.88%.

IS MANAGED MONEY RIGHT FOR ME?... | . .CONTACT DANIEL HAUGH

SFO Magazine article "Diversification is Not Enough" by Dan Haugh
Featured Articles of the Week
Featured PTI Broker of the Month


Dave Westhouse

VP Retail Securities

Call Dave
800.821.4968
E-mail Dave

Dave Westhouse is responsible for the execution of retail securities transactions on behalf of PTI Securities’ individual and organizational clients. This includes ensuring that clients’ transactions are executed and completed in a fast, seamless and professional manner, and with clear ongoing communications between the investor and securities providers. Dave joined PTI Securities in 1992, and has more than 30 years of experience in securities and financial services.

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Financial Indicators
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Question of the Week:

 
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The Home for Independent Traders
Call Larry Parkhill at 800.821.4968

Technicals vs. Fundamentals: Which are Best When Trading Crude Oil and Natural Gas?

20 Questions with Robert Prechter: Devaluation Won't Work

DJIA's 200-Day Moving Average: Will the Dow stay above or below this demarcation line?

Big Bear Markets: More Than Falling Stock Prices

Signs of Deflation You Might Not Be Able To See Clearly

Financial Podcast
The Numbers Story
Monday, July 26, 2010
"Amazon"
Tom and Kevin talk economic numbers, the market rally, Chicago Cubs, stock of the day is Amazon.
DOWNLOAD MP3 or listen to this show now:

Can be streamed LIVE or heard online anytime at www.StocksAndJocks.net
OR

Listen Weekdays
Chicago 1240AM WSBC
5:30am - 7:00am CST

Big Ben climbed the steps of Capitol Hill this week to deliver his semiannual report on monetary policy to Congress. The Federal Reserve Chief provided few surprises, as his comments generally echoed the sentiments conveyed in the minutes of the latest policy-setting meeting, held on June 22-23. that were released last week. Still, like the old E. F. Hutton commercial, when the head of the central bank speaks, everyone listens. So it comes as no surprise that the testimony garnered most of the headlines this week, and had ripple effects in the financial markets.

As expected, Bernanke reiterated the notion that the downside risks to the outlook have increased in recent months, but that the recovery should stay on a moderate growth track. Perhaps the most interesting part of the testimony had to do with what measures the policy makers would take if economic conditions deteriorated by more than expected. For those waiting for him to say something about a possible double-dip recession, the chairman refused to go there in his prepared remarks. Instead, Bernanke offered the usual blanket statement that the Fed is "prepared to take further policy actions if necessary." But in the question and answer period after the prepared script was read, he did offer a few specifics that had been mentioned at various times in the past.

>> READ MORE

Interest Rates
July 23
Week ago
Month ago
Year ago
3 MONTH TREASURY BILL
0.15% 0.15% 0.13% 0.18%
6 MONTH TREASURY BILL
0.19 0.18 0.19 0.27
3 MONTH LIBOR
0.49 0.52 0.53 0.50
2 YEAR TREASURY NOTE
0.58 0.58 0.65 1.00
5 YEAR TREASURY NOTE
1.72 1.68 1.89 2.53
10 YEAR TREASURY NOTE
2.99 2.93 3.10 3.66
30 YEAR TREASURY NOTE
4.01 3.94 4.06 4.55
 Tax Exempt Revenue Bonds (Triple A)

5 YEAR

1.40 1.48 1.76 1.87

10 YEAR

2.81 2.87 3.18 3.28

30 YEAR

4.37 4.38 4.45 4.82
Mortgage Rates
30 YEAR FIXED
4.56 4.57 4.69 5.20
15 YEAR FIXED
4.03 4.06 4.13 4.68
1 YEAR ADJUSTABLE
3.70 3.74 3.77 4.77
Stock Market
DOW JONES INDUSTRIAL
10424.62 10098.35 10143.81 9093.24
S&P 500
1102.66 1065.09 1076.36 979.26
NASDAQ
2269.47 2179.68 2223.48 1965.96
Commodities
GOLD ($) - 100 OZ FUTR
1186.50 1190.90 1255.40 952.20
OIL ($/BARREL) FUTURES (NYMEX)
79.97 75.82 79.04 68.01
Economic Indicators
Housing Starts (June) - 000s of units
549
578
679
610
Sales of Existing Homes (June) - 000s
5370
5660
5790
5373


Video: The Real-Time Power of Elliott Wave Analysis:

Financial Blogs



Tom Haugh's
DOLLAR$ and SEN$E


"New Keynesian Economics"

Good morning. It was a very strong week for the market last week, despite a sell-off on Wednesday attributed to Federal Reserve Chairman Ben Bernanke’s testimony before Congress. In that testimony before the Senate Banking Committee the Fed Chairman referred to the economic outlook as “unusually uncertain,” and the market responded with a two percent sell-off into the close on Wednesday...More

 


3L Market Analysis
& Consulting Blog


Since 1992, Aron Lenkowsky has managed his own portfolio in both the US equities and options markets. In 1999, he began trading full time and quickly became aware of the ebbs and flows of Indices, sectors and intra-market analysis on multiple timeframes...MORE

Aron is a weekly guest on
"Stocks And Jocks"

 

Futures Division VP, William Bayer, is quoted in 6-22-10 Bloomberg - Corn, Soybean Prices Decline as China’s Demand May Be Limited

If you have questions about commodities / futures, please call Bill at 800.821.4968.

 
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Visit www.PTIProDirect.com

Call Larry Parkhill toll free at 800.821.4968

The Protected Index Program® (PIP)
For a detailed explanation and outline of this managed money program, click here.
 
 
SPX
PIP
Cumulative since inception March 1998
+ 16.47% + 53.63%
Year-To-Date
- 7.08% + 1.61% 
1 Month
- 5.39% + 0.04% 
1 Year 
+ 14.50% + 0.80% 
3 Year
- 26.29% + 1.49%
5 Year 
- 2.93% + 17.50%
10 Year 
- 14.57% + 19.83%
PIP Performance indicates gains cumulative since inception of March 1998, YTD, 1-month, 1, 3, 5, and 10-year records ending June 30, 2010, that the PIP produced consistent returns in a hedged portfolio. Supporting documentation for the performance of the PIP program can be obtained from Dan Haugh and can be requested by calling 800.821.4968 or by email at Dan@PTISecurities.com.
Performance History:
From inception of the Program in March 1998 to mid- 2000 the market had a relatively strong advance, topping out in August of 2000 with the S&P up 41% since the March 1998 start. The PIP lagged the market during this period, with a total return of 31% from March 1998 to August 2000. From that August 2000 market top the S&P sold off rather steadily and steeply to a low in July of 2002 of minus 15.8% in the S&P, meaning the S&P gave back the 41% it had been up and was down an additional 15.8%. The PIP Program lost as well, but went from a positive 31% to a positive 9%. From that low point the S&P rallied to a high of positive 58% in October of 2007, while the PIP was up 62% from March 1998 to the same point. Again, as expected, the PIP lagged the S&P at a time of an extended market advance. From that October 2007 high in the S&P, the market had a severe sell-off to the March of 2009 lows of minus 13%, while the PIP gave up only 13% to still be up 49% since March of 1998. Since that low in March 2009 the S&P has staged another dramatic rally to go from down 13% to up 23% from March 1998 to March 2010. In that same period the PIP has actually had a negative return, now up 52% since March 1998. What the graph shows is as predicted, the Program under performs in periods of rapid market advance and over performs in periods of market declines. It also shows that there can be and has been some extenuating market conditions (such as extreme movements in implied volatility) that can influence the predicted performance of the PIP vs. the S&P 500.
This track record is derived from the actual returns of the largest accounts using the S&P 500 (SPY) and reflects the return of over 30% of the assets invested in the Protected Index Program (PIP) using the SPY. Multiple accounts are included in the track record to reflect the fact that any one account may have a slightly different put or call strike (or both) on any given month due to market conditions when the accounts were invested. PIP returns are inclusive of all costs. This return represents the average return achieved by amounts invested in the S&P 500 Protected Index Program over the time frame indicated. The return is based on cash invested and uses no leverage or borrowed funds. For the first several years of the track record, accounts were advised on both a discretionary and a non-discretionary basis. Although PTI was responsible for making investment recommendations to non-discretionary accounts, they were free to accept, reject or modify those recommendations and had ultimate decision-making authority. Such decisions by the client could have impacted the performance. Currently all accounts included in this track record are managed by PTI. Returns in the composite do not include the reinvestment of dividends, interest and cash generated from covered calls writing, and if all accounts did include reinvestments, this would slightly increase the performance. The investment performance of any individual portfolio may have been better or worse over this period than the results shown herein. By presenting the composite performance, no representation is made that any particular portfolio or group of portfolios had precisely this performance. Past performance is no guarantee of future results. PIP returns are inclusive of all costs. PTI does not charge any management fees for PIP accounts, however, all trades made in this program will be charged our broker assisted commission for that trade and all of these commissions have been included in the calculation of the track record. Click for PIP commission rates.
 
For a detailed explanation and outline of this managed money program, click here.
PIP Track Record and Performance Chart (PIP vs. IWM)
 
 
IWM
PIP
Cumulative since inception July 2005
- 4.33%
+ 22.55%
Year-To-Date
- 1.85% - 0.10%
1 Month
- 7.33% - 3.01%
1 Year 
+ 21.53% + 1.67%
3 Year
- 23.65% + 1.96%
PIP Performance indicates gains cumulative since inception of July 2005, YTD, 1-month, 1, and 3-year records ending June 30, 2010, that the PIP produced consistent returns in a hedged portfolio. Supporting documentation for the performance of the PIP program can be obtained from Dan Haugh and can be requested by calling 800.821.4968 or by email at Dan@PTISecurities.com.
Performance History:
From the inception of the Russell Index Program (IWM) in July 2005 to August 2007 the IWM had a steady advance, with the Russell advancing 27% and the IWM PIP advancing 24%. From that date until March 2009 the Russell had a sharp sell-off, taking the IWM from a positive 27% to a negative 39% since July 2005. The IWM PIP also lost ground, but remained positive 10% at it low point in March 2009. Since that date the IWM has rallied back strongly to be only down 1% as of February of 2010, while the IWM PIP has rallied less strongly from the low of March 2009 to be up 22% at the end of February 2010. Again, the program has reformed as predicted, under performing in periods of strong market advances and over performing in periods of market declines.
This track record is derived from the actual returns of the largest accounts using the Russell 2000 (IWM) and reflects the return of over 25% of the assets invested in the Protected Index Program (PIP) using the IWM. Multiple accounts are included in the track record to reflect the fact that any one account may have a slightly different put or call strike (or both) on any given month due to market conditions when the accounts were invested. PIP returns are inclusive of all costs. This return represents the average return achieved by amounts invested in the Russell 2000 Protected Index Program over the time frame indicated. The return is based on cash invested and uses no leverage or borrowed funds. All accounts included in this track record are managed by PTI. Returns in the composite do not include the reinvestment of dividends, interest and cash generated from covered calls writing, and if all accounts did include reinvestments, this would slightly increase the performance. The investment performance of any individual portfolio may have been better or worse over this period than the results shown herein. By presenting the composite performance, no representation is made that any particular portfolio or group of portfolios had precisely this performance. Past performance is no guarantee of future results. PIP returns are inclusive of all costs. PTI does not charge any management fees for PIP accounts, however, all trades made in this program will be charged our broker assisted commission for that trade and all of these commissions have been included in the calculation of the track record. Click for PIP commission rates.
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