June 24, 2011

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MARKET OVERVIEW

Index
DJIA NASDAQ RUSSELL 2000 S&P 500

started week
12004.28 2608.05 781.72 1271.5

Thursday Close
12050 2686.75 802.68 1283.5

4 day change
45.72 78.7 20.96 12

4 day change %
0.38% 3.02% 2.68% 0.94%

ytd
3.41% 0.53% 1.83% 1.40%

Summary of VE Stock Universe

Stocks Undervalued Stocks Overvalued Stocks Undervalued by 20% Stocks Overvalued by 20% 57.98% 42.02% 25.35% 14.98%

SECTOR OVERVIEW
Sector
Aerospace Auto-Tires-Trucks Basic Materials Business Services Computer and Technology Construction Consumer Discretionary Consumer Staples Finance Industrial Products Medical Multi-Sector Conglomerates Oils-Energy Retail-Wholesale Transportation Utilities

Change
-0.51% 0.28% -0.29% -0.32% 0.63% 0.03% 0.17% -0.80% -0.58% -0.15% -0.23% -0.45% -0.44% 0.87% -0.37% -0.24%

MTD
-0.18% -0.88% -4.48% -2.83% -4.37% -6.37% -3.48% -3.50% -2.59% -0.38% -4.80% -2.41% -5.42% -0.94% -3.36% -2.34%

YTD
11.47% -10.55% -8.95% 5.39% 3.92% -11.31% -0.13% -8.41% -0.89% -0.51% 9.61% -0.78% -4.11% 3.92% -7.16% 2.74%

Valuation
1.09% undervalued 6.18% undervalued 9.24% undervalued 1.46% undervalued 3.82% undervalued 8.04% undervalued 3.02% undervalued 0.61% undervalued 4.21% undervalued 6.32% undervalued 5.28% undervalued 17.91% overvalued 2.39% undervalued 0.88% undervalued 3.20% overvalued 2.97% overvalued

Last 12MReturn
27.64% 44.22% 41.71% 15.22% 27.90% 2.04% 22.59% 14.81% 9.09% 29.71% 18.40% 29.02% 35.37% 26.95% 16.44% 22.24%

P/E Ratio
18.31 18.93 34.16 26.97 37.19 28.45 30.98 31.32 27.41 28.25 29.71 25.11 54.6 34.26 20.27 23.29

Sector TalkBRIC Stocks

Below, we present the latest data on leading BRIC stocks from our Institutional software package (VEI). These results were filtered by market price and volume--no results below 3$/share or less than 100k shares/day volume.

Top-Five BRIC Stocks--Short-Term Forecast Returns

Ticker
GFRE HTHT SVN CGA CHOP

Name
GULF RESOURCES CHINA LODGING 7 DAYS GRP-ADR CHINA GREEN AGR CHINA GERUI ADV

Mkt Price
3.31 16.24 18.28 4.87 3.65

Valuation(%)
-62.01 -22.18 -12.73 -54.24 -35.8

Last 12-M Retn(%)

-64.79 5.52 69.89 -51.54 -36.63

Top-Five BRIC Stocks--Long-Term Forecast Returns

Ticker
ERJ JOBS SVN ABV STP

Name
EMBRAER AIR-ADR 51JOBS INC-ADR 7 DAYS GRP-ADR AMBEV-PR ADR SUNTECH PWR HLD

Mkt Price
30.29 50 18.28 32.02 7.75

Valuation(%)
10.6 -18.97 -12.73 29.55 -62.15

Last 12-M Retn(%)

35.65 125.23 69.89 55.82 -18.34

Top-Five BRIC Stocks--Composite Score

Ticker
SNP SPRD BAK JOBS STP

Name
CHINA PETRO&CHM SPREADTRUM-ADR BRASKEM SA 51JOBS INC-ADR SUNTECH PWR HLD

Mkt Price
94.28 13.22 28.75 50 7.75

Valuation(%)
-12.82 -33.66 -0.2 -18.97 -62.15

Last 12-M Retn(%)

17.6 39.89 108.79 125.23 -18.34

Top-Five BRIC Stocks--Most Overvalued

Ticker
SINA ABV SBS SVA SNDA

Name
SINA CORP AMBEV-PR ADR SABESP -ADR SINOVAC BIOTECH SHANDA INTERACT

Mkt Price
87.9 32.02 58.58 3.21 37.56

Valuation(%)
76.47 29.55 28.77 26.71 25.22

Last 12-M Retn(%)

129.68 55.82 43.16 -24.47 -5.63

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Free Report Download for Subscribers

As a bonus to our Free Weekly Newsletter subscribers, we are now offering a FREE DOWNLOAD of one of our $ 25.00 Detailed Valuation Reports.
This week's free download is our report on FedEx Corporation (FDX). FedEx Corporation is a global transportation and logistics enterprise that offers customers a one-stop source for global shipping, logistics and supply chain solutions. Services offered by FedEx companies include worldwide express delivery, ground small-parcel delivery, less-than-truckload freight delivery and global logistics, supply chain management and electronic commerce solutions. FedEx reported a 33% jump in profits this week. The company also stated that while current conditions remain soft, it expects economic growth to accelerate over the longer term. Key for the company's prospects is the price of oil. Fuel costs are a major factor for the bottom line of this air cargo handler. CFO Alan Graf Jr. noted that estimates for the company are based on oil remaining around $95/barrel level and not much higher. The sale of Strategic Petroleum Reserves announced this week had a beneficial effect on crude prices and may further bolster the bottom line for FedEx, Airlines, and other Transportation Sector stocks.

Weekly Subscribers can download a FREE Detailed Valuation Report on FDX HERE. If you have not subscribed and want to be able to receive a FREE $ 25.00 Detailed Valuation Report, you can subscribe to our Free Weekly Newsletter HERE.

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foundations, and institutions on asset allocation, manager selection, risk budgeting, and long-term financial planning. Prior to Goldman Sachs, Sadan was a trader and member at Worldco, LLC, a multi-strategy hedge fund, where he implemented program and algorithmic trading strategies to identify, trade, and hedge equity positions. Previous to Worldco, Sadan worked as a financial advisor associate at Sanford C. Bernstein & Co., a value-oriented investment manager. Sadan has created a high-level premium newsletter aimed at money managers, hedge funds, and other sophisticated investors in search of macro trading ideas which can be exploited via liquid and easy-to-trade ETF products. This is a premium product and is not designed for the investment neophyte. However, if you are looking for investment opportunities in a variety of asset classes which are global in scope, Sadan's analysis and exploitation of the macro environment may help you with your clients and your fund. Sadan himself describes the philosophy behind his "Hard Trade" newsletter like so: We're long-term value investors, who use strategic asset allocation as an operating philosophy and behavioral science as a guide to timing our transactions. We started The Hard Trade in 2007 with the idea that the hard trade is often the most profitable. The hard trade requires an investor or trader to be contrarian, to aggregate information, and to make often uncomfortable decisions. This newsletter and the discussions it stimulates will hopefully lead you to be a better investor and trader, and will provide you with actionable ideas, timelines, enhanced context, predictions, and historical interpretation (or re-interpretation, when necessary). Please keep in mind that you will not discover get-rich-quick stocks here. You will not find easy answers or any guarantees. Instead, you will encounter stimulating questions and fresh perspectives, as well as relevant news, probing analysis, and investable themes. Alongside debates on finance, investing, and economics, you are also likely to find talk of psychology, process, and evaluation criteria.

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Suttmeier Says
--Commentary and Analysis from Chief Market Strategist Richard Suttmeier
If you have any comments or questions, send them to Rsuttmeier@Gmail.com

Treasury Yields 10-Year--(2.922) The 200-day simple moving average is 3.122 with a daily pivot at 2.952 and this weeks risky level at 2.758. Commodities and Forex Comex Gold--($1522.6) The 50-day simple moving average was tested on Thursday at $1517.5 with my quarterly pivot at $1523.7 and weekly pivot at $1549.5, and daily and monthly risky levels at $1552.4 and $1574.3. The May 2nd all time high was $1577.4. Nymex Crude--($91.83) My semiannual value level is $87.52 with the 200-day simple moving average at $92.62, a daily pivot at $91.34, and my annual pivots at $99.91 and $101.92. The Euro-- (1.4256) The 200-week simple moving average is 1.4014 with the 200-day at 1.3851. My weekly pivot is 1.4177 with my monthly and quarterly pivots at 1.4258 and 1.4308, the 50-day simple moving average at 1.4406, and my semiannual risky level at 1.4624. Major Indices Closes today below the five-week modified moving averages keep the weekly chart profiles negative; 12,256 Dow Industrials, 1306.7 SPX, 2732 NASDAQ, 2292 NDX, 5258 Dow Transports, 812.21 Russell 2000 and 420.56 SOX.

Key Levels for the Major Equity Averages Dow --(12,050) The 200-day simple moving average is 11,768 with daily and weekly pivots at 12,140 and 12,185 and the five-week modified moving average at 12,256. The 5-month MMA is 11,906 which held on Thursday. S&P 500--(1283.5) The 200-day simple moving average is 1263 with daily and weekly pivots at 1288.3 and 1289.3, and the 5-week modified moving average at 1306.7. The 5-month MMA is 1276.4. NASDAQ (2687) My daily value level is 2674 with the 200-day simple moving average is 2650 and weekly pivot at 2677. The 5-week and 5-month modified moving averages are 2732 and 2675. NASDAQ 100 (NDX) (2255) My daily value level is 2234 with the 200-day simple moving average is 2234 and weekly pivot at 2235. The 5-week and 5-month modified moving averages are 2292 and 2244. Dow Transports (5303) The 200-day simple moving average is 5058 with my annual pivot at 5179, and daily and weekly pivots at 5357 and 5337. The 5-week and 5-month modified moving averages are 5258 and 5090. Russell 2000 (802.68) The 200-day simple moving average is 776.24 with my annual pivot at 784.16, weekly pivot at 787.87, and daily risky level at 808.76. The 5-week and 5-month modified moving averages are 812.21 and 790.71. The SOX (402.56) My daily value level is 395.69 with the 200-day simple moving average at 411.17, and weekly pivot at 400.70. The 5-week and 5-month modified moving averages are 420.56 and 418.78. Note: For my technical momentum metrics--"MOJO"--I use whats called 12x3x3 slow stochastic readings from daily, weekly and monthly charts. The scale is zero to 10.0 where above 8.0 is overbought and below 2.0 is oversold.

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We provide a variety of means for accessing ValuEngine market analysis and other content. You can find us on some of the leading financial media websites as well as the more popular social media services. While our own website ValuEngine.com provides access to lots of analysis--and you can always sign up to receive email daily and weekly bulletins HERE, some users prefer to download PDF reports of content while others prefer to garner info while browsing the web. Our Chief Market Strategist Richard Suttmeier is a prolific market observer and you can find his content in a variety of places. His weekly column on Forbes provides insights into his "Buy and Trade" strategy while his daily market analysis can be followed and accessed at Scribd, Twitter, and Minyanville. Senior Editor Steve Hach re-posts PDFs and web-accessible copies of Daily and Weekly ValuEngine bulletins at Seeking Alpha and Scribd. In most cases, you can receive notification of VE content posting by Suttmeier and Hach by following the ValuEngine feed on twitter @ValuEngine. Links for this content are provided below, you may also find these links on our website HERE Intelligent Investing with Richard Suttmeier Articles by Richard Suttmeier | Articles by Steve Hach Newsletters, Articles and Other Research Pieces Articles by Richard Suttmeier | Articles by Steve Hach Get short, timely messages from ValuEngine Inc Daily Bulletin PDFs, Weekly Newsletter PDFs, and PDF Research Reports