Subject: The CAN SLIM Investment System

Durable Goods Orders, International Trade in Goods, GDP | View this email in your browser

 
   
 

 
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The CAN SLIM Investment System

 

Developed in the 1950s by legendary investor and IBD founder William J O’Neil, CAN SLIM is a mnemonic for a set of criteria for picking growth stocks with momentum. Read about it and our new Stock Rover CAN SLIM screeners in our latest blog post.

 
 

Economy

New orders for durable goods were up an unexpectedly high +2.0% in June after drops of -2.8% in April and a downwardly revised -2.3% drop in May. The increase was led by a +75.5% ($2.68 billion) increase in civilian aircraft orders, but defense aircraft orders fell by ‑32.1% ($1.36 billion), which limited the overall monthly gain in transportation orders to +3.1%. Core capital goods, which exclude transportation and defense and serve as a gauge for business production investment, were up +1.9% after a +0.3% gain in May and a -1.1% drop in April. On a yearly basis, new orders were flat, but a -42.1% drop in civilian aircraft orders dragged down overall transportation orders to -2.2% for the year, and excluding transportation brought yearly new orders to +1.1%.

 

Imports fell by -$4.625 billion in June, but the drop’s effect on the goods trade deficit was limited by a -$3.748 billion drop in exports, bringing the deficit down by $878 million. The steepest export drop was a -10.9% drop for consumer goods, followed by a -4.0% drop in motor vehicles and a -3.4% drop in other (e.g. military) goods. Imports fell the most for industrial supplies (-7.4%), which includes petroleum, motor vehicles (-1.9%), and consumer goods (-1.7%). Exports of foods (+0.5%) and industrial supplies (+0.2%) increased, while the only import category to increase for the month was other goods (+9.2%).

 

The first estimate of GDP growth for the second quarter of 2019 was 2.1%, down from 3.1% in the first quarter. Consumer expenditures grew at a higher than expected +4.3%, up from +1.1% in Q1, and contributed 2.85 points to GDP, with government expenditures adding in 0.85 points after a +5.0% increase in spending. However, these positive contributions were countered by drops for gross private domestic investment (-1.0 points), lowered inventory (‑0.86 points), a drop in exports (-0.63 points), and an increase in imports (-0.01 points). Inflation adjusted after tax income rose +2.5% vs. +4.4% in Q1, and the personal savings rate dropped from 8.5% to 8.1%. Consumer inflation jumped to +2.3% vs 0.4% with core inflation, which excludes food and energy costs, up +1.8% vs +1.1%.

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CAN SLIM’s Momentum and Growth

 

Our Ideas panel this week features three momentum + growth screeners based on the CAN SLIM investing framework. See what stocks are rising!

You can download any of our featured screeners directly into your account by clicking the “Add to Account” link.

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