Market Opinion | OnTheMark Investing

Murphy Oil Update

August 5, 2014 by Mike Bates

Murphy Oil (MUR) had a bad week last week. Last Wednesday it reported lousy second quarter earnings:

“Murphy Oil Corp.’s second-quarter profit fell sharply as costs surged and the company took loss from discontinued operations. The El Dorado, Ark., company spun off its U.S. retail marketing business last year and now focuses mainly on gas-and-oil extraction in the U.S., Canada and Malaysia. For the most recent period, Murphy posted a net profit of $129.4 million, or 72 cents a share, down from $402.6 million, or $2.12 a share, a year ago. Earnings from continuing operations fell to $142.7 million, or 79 cents a share, compared with year-ago results of $259.9 million, or $1.37 cents a share. Excluding certain items, including mark-to-market loss on crude oil derivative contracts and other items, adjusted per-share earnings from continuing operations fell to 90 cents from $1.38 a share. Revenue edged up nearly 2% to $1.35 billion. Analysts polled by Thomson Reuters had expected profit of $1.21 a share and revenue of $1.42 billion. Looking ahead, Murphy Oil said it expects total annual world-wide production of about 220,000 to 225,000 barrels of oil equivalent a day, primarily reflecting reductions at two properties and revisions for further production risks.” read more

Be Patient

August 3, 2014 by Mark Bates

The S&P dropped 2.7% this past week to end at 1925, but technically this was a needed correction and nothing more. A continued drop past 1905 will likely indicate a medium term correction, and a continued drop past 1841 will indicate significant long term changes. The technical model is still indicates that Medium and Long term periods are fine. read more

July 21 2014 OnTheMark Investment Club Meeting

July 20, 2014 by Mark Bates

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Market Update July 5 2014

July 5, 2014 by Mark Bates

The technical models have SPY (equity market) and AGG (intermediate bonds) at BUY for all periods — short, medium and long term.

It appears that the bonds may be breaking down in the short term. But otherwise the model reflects the overall market trend, which is up. I commented to someone the other day that I’ve begun relying more on the technical model to overcome my basic socio-political pessimism about the future of the country and economy. read more

Sunday June 22 2014 market update

June 22, 2014 by Mark Bates

The technical models are listed below for the S&P (^GSPC) and the AGG Intermediate Bond ETF. In both cases, the model is signaling BUY for all periods (Short, Medium and Long). This is unchanged from the most recent notes over the past few weeks. read more

Market Update Monday May 26

May 26, 2014May 26, 2014 by Mark Bates

Market signals follow. Base your actions on your time horizon.

SPY: short-term BUY. medium-term BUY. long-term BUY.

Intermediate Bonds (AGG)

short term: BUY. medium term BUY. long term BUY. read more

Market Advisory Sunday May 18 2014

May 23, 2014May 18, 2014 by Mark Bates

All systems still green on the S&P 500. All trends (short, medium and long) are still BUY.

Miley Growth Fund

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Miley Income Fund

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