Steve Cook's Strategic Stock Investments

Subscriber Alert 7/28/10

2010-07-28T16:41:00Z

SUBSCRIBER ALERT
7/28/10

Gold has broken its intermediate uptrend and satisfied our time and distance discipline. Accordingly, our Portfolios are selling their gold (GLD) position down to a 5% total position in each Portfolio. However, I don’t want to reduce the Portfolios’ overall invested position, so the proceeds are being invested in the ETF’s of Austrialia (EWA) and Brazil (EWC)

Subscriber Alert-7/23/10

2010-07-23T19:40:00Z

SUBSCRIBER ALERT
7/23/10

Three things have occurred this afternoon: (1) the Market has at last demonstrated some follow through, (2) the indices are above the 10412, 1099 level meaning that both are going to set a higher high and (3) investors appear satisfied with the results of the EU ‘stress test’. My bottom line is that stocks have now re-set to a trading range.

On the other hand, as I noted in today’s Morning Call assuming trading range upper boundary of 10725, 1149, the risk/reward at current levels are not particularly positive and I am not convinced that the EU sovereign debt problem has been solved. However, I still want to start the process of putting cash to work. Hence, our Portfolios are going to take the tentative step of taking down their cash position by 1%. The Buy candidates focus primarily on (1) those stocks that a portion of their holdings were Sold earlier this year when they broke their up trend and (2) those stocks that are on the Buy Lists.

At the moment, the following orders are being entered:

In the Dividend Growth Portfolio: additions to ExxonMobil, Abbott Labs, Hormel, Federated Investors and a new partial position in Sigma Aldrich.

In the High Yield Portfolio: ATT and Federated Investors.

In the Aggressive Growth Portfolio: Franklin Resources, Amphenol, Strayer Education.

To be clear, I recognize that there is a reasonable probability that these stocks could be bought later at lower prices. However, there is some probability that investors will began to discount no ‘double dip, a wholesale turnover in Washington in November and more responsible fiscal policy likely to come out of that revolution. Therefore, this small initial step is a hedge that that scenario could develop short term,

Review of Lowe's (Aggressive Growth Portfolio)

2010-07-22T13:26:00Z

Company Highlight

Lowe’s Companies operates a chain of building materials and home improvement superstores in the US, Canada and Mexico selling appliances, lumber, paint, flooring, millwork, fashion plumbing, tools, hardware and lighting. The company has grown its profits and dividends 15-25% over the last ten years and earned a 10-18% return on equity. As with most housing/retail related companies, LOW went through a rough period in 2009. However, profits should improve as the economy recovers as a result of:

(1) continued expansion of its sales base through new store openings,

(2) improvements in efficiency via cost controls and a newly implemented inventory control system,

(3) its proven strategy of enhancing the customers shopping experience and adding more product selection should allow it to continue to take market share.

LOW is rated A+ by Value Line, has a 23% debt to equity ratio and its stock yields 2%.

Statistical Summary

                Stock       Dividend         Payout      # Increases
                Yield      Growth Rate     Ratio        Since 2000

LOW         2.0%           12%            27%              8
Ind Ave     2.6               5                 37               NA

                Debt/                        EPS Down       Net        Value Line
                Equity         ROE      Since 2000      Margin       Rating

LOW         23%           12%            3                 5%            A+
Ind Ave      27              14              NA               5             NA

   Chart

    Note: LOW stock bounced sharply off its March 2009 low but then peaked on a short term basis in May 2010 and subsequently fell below the lower boundary of the up trend off the March low and a short term support level, pushing it into a down trend where it has remained. LOW did manage to surpass the down trend off its February 2007 high (red line) and the November 2008 trading high (green line) though it has since trade below the latter. The blue line is the lower boundary of an up trend dating from 1995; the wiggly red line is the 30 day moving average. The Aggressive Growth Portfolio owns a 50% position in this stock having sold shares at higher prices when it broke support. Our Portfolio would Buy shares at current levels when, as and if its technicals improve. Profits would be taken at $52.

http://finance.yahoo.com/q?s=LOW
7/10

    News on Stocks in Our Portfolios

    More second quarter earnings reports:

                      Reported         Expected

Abbot Labs (DG)               $1.01            $1.00
Total System Svc (DG)       .25                .23
United Technologies (DG)    1.32            1.16
Eli Lilly (HY)            1.24            1.10
Qualcomm (AG)       .57               .54
Kinder Morgan Energy (HY)    .35               .39
Coca Cola (DG)    1.06            1.03
Caterpillar (HY)    1.09               .85

Kinder Morgan Energy Partners also raised its quarterly distribution from $1.05 to $1.09 per unit.

Review of Federated Investors (Dividend Growth and High Yield Portfolios)

2010-07-21T13:25:00Z

Federated Investors provides investment advisory, administrative and other services and products to its mutual funds (primarily money market funds) and separate accounts. It manages over $389 billion in assets spread among 145 mutual funds. The company earned an impressive 25-35% return on equity and grew profits and dividends at a 9-10% pace over the last 10 years. This record should continue as:

(1) the company’s dominant position in fixed income and money market asset management should give it a competitive advantage in a volatile, directionless equity market,

(2) product line expansion by adding more equity and fixed income offerings,

(3) geographic expansion as in enters more foreign markets.

     FII is rated A by Value Line, has only a 3% debt to equity ratio and its stock yields 4.1%.

    Statistical Summary

                 Stock     Dividend         Payout      # Increases
                Yield      Growth Rate     Ratio       Since 2000

FII             4.1%           8%              59%              10
Ind Ave      1.4             54                25                NA

                Debt/                        EPS Down       Net        Value Line
                Equity         ROE      Since 2000      Margin       Rating

FII             3%            28%            4                 18%           A
Ind Ave     35              16              NA               16             NA

   Chart

    Note: FII stock made good initial progress off its March 2009 low; however, in February 2010 it broke that up trend, then initial support and transitioned into a down trend. On the way up, FII surpassed the down trend off its January 2008 high and the November 2008 trading high. It recently broke the sharp down trend off April 2010 high, and then recently made a higher low off the July 2010 low. The High Yield and Dividend Growth Portfolios own 50% positions in FII. The upper boundary of its Buy Value Range is at $21; however, since stock was Sold at $25 in the recent decline, shares may be Bought back at current levels. Profits would be taken at $41.



http://finance.yahoo.com/q?s=FII
7/10

    News on Stocks in Our Portfolios

    Pepsico (Aggressive Growth Portfolio) reported second quarter earnings per share of $1.10 versus expectations of $1.08.

    Illinois Tool Works (Dividend Growth Portfolio) reported second quarter earnings per share of $.83 in line with expectations.

Johnson & Johnson (Dividend Growth Portfolio) reported second quarter earnings per share of $1.21 in line with expectations.

Linear Technologies (Dividend Growth Portfolio) reported second quarter earnings per share of $.54 versus estimates of $.51.

Altera (Aggressive Growth Portfolio) reported second quarter earnings per share of $.58 versus forecasts of $.50.

Review of Kimberly Clark (High Yield Portfolio)

2010-07-20T13:23:00Z

Kimberly Clark develops, manufactures and markets personal care products (Huggies, Pull Ups, Kotex, Depends, Kleenex, Scott paper towels and Cottonelle tissue). KMB has grown its profits and dividends at a 5-8% annual rate over the past 10 years earning an amazing 35%+ rate of return on equity. As with many of our companies, Kimberly has had a rough go of it in 2009 suffering from currency translation problems as well as customers ‘trading down’ to generic brands. However, the company should begin to see improvement in its bottom line in 2010 as a result:

(1) significant cost cutting as well as better supply chain management,

(2) a ramp up in marketing and branding efforts,

(3) new product innovation,

(4) a significant stock buy back program.

KMB is rated A++ by Value Line, carries a 45% debt to equity ratio and its stock yields 4.2%

Statistical Summary

                 Stock      Dividend         Payout      # Increases
                 Yield      Growth Rate     Ratio       Since 2000

KMB          4.2%          4%               52%             10
Ind Ave       2.1             7                 40                NA

                Debt/                        EPS Down       Net        Value Line
                Equity         ROE      Since 2000      Margin       Rating

KMB         45%           37%            2                 10             A++
Ind Ave      45              17              NA              11            NA

   Chart

    Note: KMB stock made good initial progress off its March 2009 low. In December 2009, it successfully challenged the lower boundary of that up trend and has since traded in a range. However, KMB still trades above the down trend off its June 2007 high as well as the November 2008 trading high. The straight blue line at the bottom is the lower boundary of an up trend dating from 1996. The wiggly blue is on balance volume. The High Yield Portfolio owns a 50% position in KMB. It would Buy more stock at $50 and would reduce its position at $78.

http://finance.yahoo.com/q?s=KMB
7/10

Subscriber Alert 7/12/10

2010-07-12T13:17:00Z

SUBSCRIBER ALERT

7/12/10

The price of gold (GLD) traded down last week, touched the lower boundary of an up trend dating from October 2008 and then bounced. It looks like it will open down modestly this morning. All our Portfolios will Add to their GLD position at the Market open. This will bring the size of this position to approximately 9% in each Portfolio.

Subscriber alert-7/9/10

2010-07-09T13:30:00Z

Subscriber Alert

Buckle (BKE-$2) got caught up in the negative vibes coming out of the June retail sales numbers (see below). As a result, the stock traded below the lower boundary of its Buy Value Range. Accordingly, it is being Removed from the Aggressive Growth Buy List. BKE closed yesterday only slightly above its Stop Loss Price. Any further deterioration and the Aggressive Growth Portfolio will Sell this position.

Review of Blackrock (Aggressive Growth Portfolio)

2010-07-08T13:26:00Z

Blackrock Inc. provides investment management services (fixed income, equity and cash management) to institutional clients and individual investors worldwide as well as a family of open-end and closed-end mutual funds and offers risk management, investment system outsourcing and financial advisory services. The company has grown its earnings per share between 15-20% over the last five years and raised its dividend per share from $.40 in 2003 to $4.00 in 2009. In addition, BLK earned a 7-9% return on equity. Growth should continue as the company:

(1) introduces new financial services, especially ETF’s,

(2) expands globally,

(3) benefits from the world wide economy improves,

(4) aggressive reduces costs.

Blackrock is rated A by Value Line, has only 7% debt and its stock currently yields 2.3%.

Statistical Summary

                 Stock     Dividend         Payout      # Increases
                Yield      Growth Rate     Ratio       Since 2003

BLK          2.3%          11%             38%               6*
Ind Ave     1.4              5                 25                NA

                Debt/                      EPS Down       Net        Value Line
               Equity         ROE      Since 2000      Margin       Rating

BLK           7%           10%            2                 21%            A
Ind Ave      35             16             NA               16              NA

*BLK has paid a dividend for only 7 years

   Chart

    Note: BLK stock made a huge advance off its March 2009 low, surpassing the down trend off its August 2008 high (red line) and the November 2008 trading high (green line). In January 2010, the stock broke its up trend and has been in a down trend ever since. The blue line is the lower boundary of a long term up trend dating from 1999. The red wiggly line is the 30 day moving average. The Aggressive Growth Portfolio owns a one half position in BLK and would Add to this holding at $125 a share and reduce it at $310 a share.

http://finance.yahoo.com/q?s=BLK
7/10

Review of Sanofi Aventis (High Yield Portfolio)

2010-07-07T13:21:00Z

Sanofi-Aventis is the world’s fourth largest pharmaceutical company and the largest in Europe. Its product line centers on diabetes cardiovascular, thrombosis, metabolic disorders, cancer, central nervous system drugs (Allegra, Plavix and Ambien) and vaccines.   In its current corporate form, the company has almost doubled profits and its dividend in the last five years, earning approximately 11% return on equity. SNY is faced with a number of drugs coming off patent in the next couple of years as well as increased governmental pressure in Europe for cheaper pricing. However, the company should still be able to grow profits and dividends 10% annually for the next 3 to 5 years as a result of:

(1) its pipeline of new drugs,

(2) its vaccine business is very strong and is expected to accelerate,,

(3) leading market share in the rapidly growing BRIC countries,

(4) an aggressive cost reduction program.

This dividend growth rate combined with its stock 4.6%+ yield provides an attractive total return for the High Yield Portfolio. SNY is rated A+ by Value Line and carries a 11% debt to equity ratio.

Statistical Summary

                 Stock      Dividend      Payout      # Increases
               Yield      Growth Rate     Ratio       Since 2004

SNY          4.6%           8%             47%              6*
Ind Ave      3.1             6 **            40               NA

                Debt/                       EPS Down       Net        Value Line
               Equity         ROE      Since 2004      Margin       Rating

SNY          11%           13%            1                22             A+
Ind Ave      13              15              NA             19            NA

*SNY has only paid a dividend for seven years
**over one half of the companies in the industry don’t pay dividends

    Note: SNY stock initially rebounded well of its March 2009 low, surpassing the down trend off its January 2008 high (red line) and the November 2008 trading high (green line). After reaching a recovery high in January 2010, SNY has sold off sharply though the November 2008 trading high appears to be offering some support. The High Yield Portfolio owns a full position in this stock. Others without a full position can use $28 as a Buy level. The High Yield Portfolio will Sell Half of its position at $43. The wiggly blue in is on balance volume.

http://finance.yahoo.com/q?s=SNY
7/10

Subscriber Alert-7/3/10

2010-07-03T18:21:00Z

Subscriber Alert

    The following stocks have fallen below the lower boundary of their respective Buy Value Ranges and are being Removed from their respective Buy Lists:

    Dividend Growth Portfolio: T Rowe Price (TROW-$44), Total Systems Services (TSS-$14) and Chevron (CVX-$67)

    High Yield Portfolio: T Rowe Price (TROW-$44)

    Aggressive Growth Portfolio: Expeditors Int’l (EXPD-$34)

    As a result of technical breakdown, the size of the following stocks’ positions are being reduced to 50% at the Market open Tuesday morning:

    Dividend Growth Portfolio: Paychex (PAYX-$25)

    High Yield Portfolio: Leggett & Platt (LEG-$20)

    Aggressive Growth Portfolio: EOG Resources (EOG-$98), Microsoft (MSFT-$23)

Subscriber Alert & Review of Franklin Resources (Aggressive Growth Portfolio)

2010-07-01T13:21:00Z

Subscriber Alert

    The stock price of General Dynamics (GD-$59) has fallen into its Buy Value Range. Accordingly, it is being Added to the Dividend Growth Buy List. The Dividend Growth Portfolio owns a full position in GD; so no action will be taken.

    The stock price of Strayer Education (STRA-$208) has fallen into its Buy Value Range. Therefore, it is being Added to the Aggressive Growth Buy List. The Aggressive Growth Portfolio owns a 75% position, so additional shares can be bought. However, nothing will done at this time.

    Company Highlight

Franklin Resources is a financial services holding company which provides investment management, trust and stock transfer services, distributes hundreds of mutual funds worldwide and sells insurance products, tax shelter investments and closed end funds. The company has grown its dividend and profits at a 13-14% pace over the last 10 years while earning a 15%+ return on equity. BEN experienced profit difficulties in 2009 but earnings should rebound this year and continue to increase as a result of;

     (1) an ongoing aggressive cost cutting program,

(2) its broad product offering and global positioning will assist it taking market share as trend towards international investing grows,

(3) its funds are achieving above average performance which should attract new investors,

(4) new product introductions,

(5) acquisitions.

BEN is rated A by Value Line, has only a 1% debt to equity ratio and its stock yields .8%.

Statistical Summary

                 Stock     Dividend         Payout      # Increases
                Yield      Growth Rate     Ratio       Since 2000

BEN           .8%           9%              13%              10
Ind Ave       1.4            5                 25                NA

                Debt/                        EPS Down       Net        Value Line
                Equity         ROE      Since 2000      Margin       Rating

BEN          1%            19%            4                 36%           A
Ind Ave     35              16              NA               16            NA

Chart

    Note: BEN stock rallied significantly off its March 2009 low, though recently it has broken through the lower boundary of that up trend, the initial support level following the break and is now in a short term down trend. It is still above the down trend off its October 2007 high (red line) and the November 2008 trading high (green line). The blue line is the lower boundary of a long term up trend dating from 2000. The Aggressive Growth Portfolio owns a 50% position in BEN. It would Add to this holding at $46 and trim it at $154.

http://finance.yahoo.com/q?s=BEN
7/10

Review of Ecolabs (Aggressive Growth Portfolio)

2010-06-30T13:30:00Z

Ecolab Inc. (ECL) develops and markets chemicals and services for cleaning, pest elimination, sanitizing and maintenance to the hospitality, institutional and industrial markets. The company has grown its profits and dividends 10-12% over the last 10 years while earning a 20%+ return on equity. Despite the softening in the global economy in 2009, ECL still managed an increase in earnings and should see acceleration going forward as a result of:

(1) the company’s exposure to the international market which is expanding a t an above average pace,

(2) an aggressive cross marketing effort of complementary products,

(3) new product development from its outstanding team of scientists

(4) acquisitions,

(5) the greater government emphasis on healthcare as a result of the recent outbreak of diseases,

(6) aggressive cost containment.

ECL is rated A by Value Line, has a debt/equity ratio of 27%, its stock yields 1.4% and it has a continuing stock buy back program.

   Statistical Summary

                 Stock     Dividend         Payout      # Increases
                Yield      Growth Rate     Ratio       Since 2000

ECL           1.4%          11%             25%              10
Ind Ave      1.7              6                 32                 NA

                Debt/                        EPS Down       Net        Value Line
                Equity        ROE      Since 2000      Margin       Rating

ECL          27%           24%            1                 9               A
Ind Ave     50              15              NA               5             NA

Chart

    Note: ECL stock has made great progress off its March 2009 low, though recently it traded below the lower boundary of that up trend. It did quickly find support. Yesterday it closed right on that support level, so the next couple of days’ trading are critical for the stock technically. ECL easily challenged the down trend off its September 2008 high (red line) and the November 2008 trading high (green line). The blue line is the lower boundary of a long term up trend dating from 2000. The red wiggly line is the 30 day moving average. The Aggressive Growth Portfolio owns a 50% position in ECL. It would Buy more at $34 and lighten up at $57.

http://finance.yahoo.com/q?s=ECL
6/10

    News on Stocks in Our Portfolios

    General Mills (Dividend Growth Portfolio) reported its fourth fiscal quarter earnings per share of $.41, in line with expectations. It also raised its quarterly dividend per share from $.24 to $.28 and began a stock buy back program.

Subscriber Alert & Review of Emerson Electric (Dividend Growth and High Yield Portfolios)

2010-06-29T13:30:00Z

Subscriber Alert

    Despite the overall health of our Universe, there are still stocks within our Portfolios that are underperforming, including two on our Buy Lists: Qualcomm (QCOM-$34) on both the Dividend Growth and Aggressive Growth Buy Lists and Lowe’s (LOW-$21) on the Aggressive Growth Buy List.

    Both of these stocks have traded below the lower boundary of their Buy Value Ranges. Accordingly, they are being Removed from their respective Buy Lists. The Aggressive Portfolio is taking no action on LOW; however, both the Dividend Growth and Aggressive Growth Portfolio are paring their holdings in QCOM to 50% positions.

    Company Highlight

     Emerson Electric designs and manufactures a broad range of electrical and electronic products and systems for commercial, industrial and consumer markets, including electronic process and measurement equipment, industrial automation equipment, climate control electronics, network power equipment and appliances and tools. As you can see, the company has a very well diversified product base and serves a broad range of both industrial and consumer markets. The company generates an attractive return on equity (20-25%) and has grown earnings and dividends at a 7% pace over the last 10 years. Like most industrial companies, Emerson suffered in the 2009 economic down turn; however, as the global economy improves profits will be driven by:

(1) a best in class management team that emphasizes manufacturing expertise [265 facilities world wide] and technological innovation to offer a broad range of products and services across a wide range of industries,

(2) the company’s continuous investment in breakthrough technologies,,

(3) significant exposure to emerging markets,

(4) expansion both organically and through acquisitions.

EMR is rated A++ by Value Line, has a 34% debt to equity ratio and its stock yields 2.6%

Statistical Summary

                 Stock       Dividend         Payout      # Increases
                  Yield      Growth Rate     Ratio       Since 2000

EMR          2.6%           7%               46%              10
Ind Ave      2.0              3                  21                 NA

                 Debt/                       EPS Down       Net        Value Line
                 Equity       ROE      Since 2000      Margin       Rating

EMR         34%           22%            3                 10             A++
Ind Ave     34              22              NA               10           NA

Chart

    Note: EMR stock rallied nicely off its March 2009 low. Recently, it broke that up trend though it soon found support. EMR easily surpassed the down trend off its May 2008 high (red line) and the November 2008 trading high (green line). The straight blue line is the lower boundary of an up trend dating from 1980. The wiggly blue line is on balance volume. The Dividend Growth and High Yield Portfolios own full positions in this stock. At current prices, EMR is within its Buy Value Range. Our Portfolios would Sell one half of there holdings at $72.

http://finance.yahoo.com/q?s=EMR
6/10

Review of Donaldson (Aggressive Growth Portfolio)

2010-06-24T13:18:00Z

Donaldson Co manufactures filtration systems and replacements parts including air and liquid filters, exhaust and emission control product, in-plat air cleaning systems, air purification systems, intake systems and specialized filters. The company has grown profits and dividends at a 12-15% pace over the last 10 years earning a 18-20% return on equity. As with most industrial equipment suppliers 2009 was a tough years. However, longer term this company should do well as a result of:

(1) expansion in the global mining and commercial construction markets,

(2) worldwide growth in the demand for gas turbines,

(3) opening of several new facilities in emerging markets,

(4) improved productivity coming from a comprehensive cost rationalization program.

DCI is rated B++ by Value Line, carries a 28% debt to equity ratio and its stock yields 1.2%.

Statistical Summary

                 Stock        Dividend       Payout      # Increases
                  Yield      Growth Rate     Ratio       Since 2000

DCI           1.2%             9                 23%              10
Ind Ave      1.3               5                 15                 NA

                Debt/                       EPS Down       Net        Value Line
                Equity         ROE      Since 2000      Margin       Rating

DCI           28%           15%           1                  13%           B++
Ind Ave     31               18             NA                 7              NA

   Chart

    Note: DCI stock has recovered nicely off its March 2009 low. It has recently broken that up trend though it quickly found support. DCI successfully challenged the down trend off its June 2008 high as well as the November 2008 trading high. The blue line is the lower boundary of an up trend dating from 1996. The Aggressive Growth Portfolio owns a one half position in DCI. It would Add to its holding at 39 and reduce the size of this position at $69.

http://finance.yahoo.com/q?s=DCI
6/10

    News on Stocks in Our Portfolios

    Nike (Dividend Growth Portfolio) reported fiscal fourth quarter earnings per share of $1.06 versus expectations of $1.05 and $.90 recorded the comparable quarter last year.

    Paychex (Dividend Growth Portfolio) reported fiscal fourth quarter earnings per share of $.32 versus estimates of $.31.

Subscriber alert & Review of Brown Forman (Dividend Growth Portfolio)

2010-06-23T13:59:00Z

Subscriber Alert

    Unfortunately neither gaining a little clarity on some of the headwinds facing the economy nor a better acting Market changes individual stock performance. In the midst of the recent rally, several of our holdings broke key technical levels on the downside and further their next visible support level was sufficiently lower as to cause me a little consternation. To be clear, there was no violation of their Buy Value Range or Stop Loss Price. Further, the action our Portfolios are taking this morning directly contradicts our current strategy, i.e. paying less attention to the technicals. That said, our Portfolios are reducing to one half positions the following stocks:

    Schwab (SCHW) in the /Dividend Growth Portfolio and Aggressive Growth Portfolio.

    Home Depot (HD) in the Dividend Growth Portfolio.

    Walgreen (WAG) in the Aggressive Growth Portfolio.

    Company Highlight

Brown Forman (BFB) produces and markets Jack Daniel’s, Southern Comfort, Finlandia, Canadian Mist, Bolla and Korbel. The company has earned a 20-25%+ return on equity and grown profits and dividends between 8% and 10% over the past 10 years. The global recession has led to pricing and inventory problems for BFB; however, the company still managed to raise its earnings per share in 2008 and 2009 and should continue to make progress in 2010 as:

(1) volume grows at an above average pace in foreign markets,

(2) the company utilizes its large cash flow to increase promotions and acquire related ventures,

(3) its diverse product line allows it to capture a broader customer base

Brown Forman is rated A+ by Value Line, has a 20% debt to equity ratio and its stock yields 2.1%

    Statistical Summary

                 Stock     Dividend         Payout      # Increases
                 Yield      Growth Rate     Ratio       Since2000

BFB           2.1%          7%              35%               10
Ind Ave      1.8             5                 44                 NA

                Debt/                        EPS Down       Net        Value Line
              Equity         ROE         Since 2000      Margin       Rating

BFB          22%           16%            1                 18             A+
Ind Ave     46              25              NA               13            NA

   Chart

    Note: BFB stock continues in its up trend off the March 2009 low, having successfully challenged the down trend off its August 2008 high (red line) and the November 2008 trading high (green line). The blue line is the lower boundary of an up trend dating from 2000. The Dividend Growth Portfolio owns a full position in this stock. BFB is on the Dividend Growth Buy List. One half of this position will be Sold at $75

.

http://finance.yahoo.com/q?s=BFB
6/10