Editors Note:

The major indexes all declined for the week despite some major earnings beats on Thursday after the close. Big beats by Amazon, Expedia and Linkedin failed to rescue the Nasdaq from a lower opening and -30 point decline. We are starting to see more companies actually miss their lowered estimates and going into the summer doldrums that is not encouraging. The economic picture continues to weaken with the GDP falling to only +0.5% growth for Q1.

With markets starting to decline there is no rush to add a bunch of new positions. There could be a bigger dip in our future.

I prefer to view a decline as a potential buying opportunity rather than a losing proposition.

No new watch list entries today.

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