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July 25, 2014

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VALUATION WARNING: Our models find that overvaluation is at levels
typically seen hen mar!et pull"ac!s occur# Overvalued stoc!s no ma!e
up $%#&' of our stoc!s assi(ned a valuation and )*#+&' of those e,uities
are calculated to "e overvalued "y )%' or more# ALL sectors are
calculated to "e overvalued--nine "y dou"le di(its#
MARKET OVERVIEW
Inde. /tarted ee! 0riday A1 2han(e 2han(e ' ytd
34IA %&'()"%% %*()'"& -&55#5& -%#*5' )#)+'
NA/3A6 ++,%", ++-("'+ &$#*5 %#5%' +#)*'
RU//7LL )%%% %%+*"-( %%++"-) -)#%5 -%#&*' -&#++'
/89 :%% %(&*"(- %(&&"-* %#5; %#%)' +#<*'
/ummary of V7 /toc! Universe
/toc!s Undervalued )<#<%'
/toc!s Overvalued $%#&%'
/toc!s Undervalued "y )%' <#&$'
/toc!s Overvalued "y )%' )*#+&'
SECTOR OVERVIEW
/ector 2han(e 1T3 =T3 Valuation Last &)-1
Return
9>7
Ratio
Aerospace -'"-*. -,",/. '"),. %%"%/. overvalued ,/"'(. %("/-
Auto-Tires-Truc!s -'",-. -'"&*. )"(,. %*"&,. overvalued %("*/. %*"**
?asic 1aterials -'"'*. -'",). /"&%. &")'. overvalued ("(-. ,/"*%
?usiness /ervices -'"%(. -%"%%. '"*/. /"&/. overvalued ,'"**. ,*"+/
2omputer and Technolo(y -'"%). -%"&,. +"((. %-"'). overvalued %)")%. -%"*(
2onstruction -'")%. -%"+/. %"(*. -",&. overvalued %*"+*. ,+")+
2onsumer 3iscretionary -'"%,. -%"'%. -'"&&. ("-*. overvalued %*"-%. ,&"/&
2onsumer /taples '"'-. -'")%. )"(+. %)"-*. overvalued %/"%%. ,&
0inance '"%+. -'"'-. -")). %'"/'. overvalued ("(%. %/"-&
Industrial 9roducts -'"+'. -%"%'. %"(+. ("(). overvalued %)"&+. ,-",,
1edical -'",-. -%")/. /"+-. %,"-*. overvalued ,&"&'. ,("%*
1ulti-/ector 2on(lomerates -'"%+. '"+,. +"&*. %&"'/. overvalued %-"(-. ,%"%
Oils-7ner(y '"'%. -'",-. %+")(. %+"%*. overvalued %("(/. ,/"+-
Retail-Wholesale '"%'. -%"(,. --"/-. ("+). overvalued +"'*. ,+"++
Transportation -'"%(. '",/. &"&-. ,-"%%. overvalued ,("*(. ,,")*
Utilities -'"'+. -'"/*. &"'). /"&&. overvalued %+"/(. ,'"&*
ValuEngine Newslee!s "aes Resuls
V7 Nesletter 2urrent 1onth Total /89 :%% Last 1onth Total /89 :%% /ince
Inception
/89
:%%
0orecast 1N/ &#5+ %#$% +#:* &#*; <*#+& &&+#%%
3ividend /toc! %#)+ %#&* )#*< &#%$ ):#)$ )$#$*
/mall 2ap /toc! %#$* %#+* -)#%$ %#$) )<#%< 5)#;&
Vie )#5$ %#)$ )#&* )#%5 &)5#5: $5#<*
Se#$! Tal%&T!ans'$!ai$n
Below, we present the latest data on leading Transportation Sector stocks from
our Institutional software package (VEI. These results were filtered by market price
and volume--no results below 3$share or less than !""k sharesday volume.
Top-0ive Transportation /ector /toc!s--/hort-Term 0orecast Returns
Tic!er Name 1!t 9rice Valuation@'A Last &)-1
Retn@'A
VL220 01I23T456I72E %,"'& ---"+( ))")+
/?LB 4T86 59:0 ;8664 %%"%+ -+%"*/ &("-(
AL 8I6 :E84E ;<6= -*"+% -,"%- -'",&
TNB TEE08> T810E64 +"%& -,+"%& ++",(
ANW 8E2E81 ?86I1E ("&) -("(- )"(/
Top-0ive Transportation /ector /toc!s--Lon(-Term 0orecast Returns
Tic!er Name 1!t 9rice Valuation@'A Last &)-1
Retn@'A
VL220 01I23T456I72E %,"'& ---"+( ))")+
/?LB 4T86 59:0 ;8664 %%"%+ -+%"*/ &("-(
AL 8I6 :E84E ;<6= -*"+% -,"%- -'",&
TNB TEE08> T810E64 +"%& -,+"%& ++",(
ANW 8E2E81 ?86I1E ("&) -("(- )"(/
Top-0ive Transportation /ector /toc!s--2omposite /core
Tic!er Name 1!t 9rice Valuation@'A Last &)-1
Retn@'A
ALB 8:8408 8I6 26= +)"'- ("'+ +&",)
AL 8I6 :E84E ;<6= -*"+% -,"%- -'",&
LUV 4<9T3WE4T 8I6 ,/"*/ &")( %'/"+-
G1T 28T@ ;<6= *)"/& /"+ +&"/(
29A ;<=8 3:724 48-8 %)*",, %",* %'"+,
Top-0ive Transportation /ector /toc!s--1ost Overvalued
Tic!er Name 1!t 9rice Valuation@'A Last &)-1
Retn@'A
3CT 73T 3<:7I124 *"&( -'' +*"(&
=R2W >6; W<6:7W7 I1; ,&",) -'' -("(,
G?D 26EE156IE6 ;<4 **"&( /+"-& %('"%+
AR2? 86;5E4T ;<6= +-",% &)"-& %',"*&
N1 18VI<4 ?86I 3:7 /"+- &%"++ ++"%
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#ma$on.com, %nc. seeks to be the world&s most customer-centric company,
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Su,eie! Say
""1ommentary and (nalysis from 1hief Market Strategist
.ichard Suttmeier
If you have any co!!ents or "uestions, sen# the! to
Rsutt!eier$%!ail&co!
'reasury (iel#s
!"-:ear--;3.<"=> ?eekly, monthly and 'uarterly value levels are 3.<@<, 3.5A5 and 3."4A
with daily, annual and semiannual risky levels at 3.44A, 3.3@3, !.=== and !.55=.
3"-:ear Bond B ;3.3=A> ?eekly, monthly and 'uarterly value levels are 3.3<<, 3.4A@
and 3.=5! with an annual pivot at 3.3A3 and daily, annual and semiannual risky levels
at 3.33A, 3.!"5 and 3."A3.
Co!!o#ities an# )ore*
2ome9 .old B;$!3=3.A> Cuarterly and monthly value levels are $!334.@ and $!333.A
with daily and weekly pivots at $!3"".! and $!3"@." and semiannual and annual risky
levels at $!@!3.", $!53A.5, $!545.4 and $!A!A.A.
-yme9 2rude ,il B ;$!"3."3> -o value levels with daily and weekly pivots at $!"3.5!
and $!"3.4@ and monthly, semiannual, annual and 'uarterly risky levels at $!"<.33,
$!"5.<3 and $!!3.!3.
The *uro B ;!.34@3> (aily, annual and semiannual value levels are !.33A@, !.33A3 and
!.33"3 with a weekly pivot at !.3<<< and monthly, 'uarterly, semiannual and annual
risky levels at !.3A!=, !.4"5=, !.4@!5 and !.<<!3.
+a,or In#ices
(aily (owD ;!5"A4> Semiannual and annual value levels are !@3"!, !4A3<
and !34@5 with a daily pivot at !5,"==, the Euly !5 all-time intraday high at
!5!<!.<@, and weekly, monthly, 'uarterly and semiannual risky levels at
!53@5, !53@4, !55<3 and !A<<3.
SF7 <"" B ;!=AA."> (aily, semiannual and annual value levels are !=A!.A,
!5A=.3, !<3=.! and !443.! with a daily pivot at !=AA.5, the Euly 34 all-time
intraday high at !==!.3=, and monthly, weekly, 'uarterly and semiannual
risky levels at !==4.3, 3"3".", 3"<3.3 and 3"A".3.
-#S(#C B ;4453> (aily, semiannual and annual value levels are 4434, 3=53,
345! and 3"@3 with the Euly 3 multiyear intraday high at 44A<.=3 and
monthly, 'uarterly, weekly and semiannual risky levels at 4<3=, 4<@=, 4<5!
and 4@43.
-#S(#C !"" ;-(G> B ;3=A3> (aily, 'uarterly, monthly, semiannual and
annual value levels are 3=@3, 3=3@, 3A=4, 3<!<, 3"5A and 3@@= with the Euly
34 multiyear intraday high at 3==5.<", and weekly and semiannual risky
levels at 4"3< and 4!"<.
(ow Transports B ;A4@5> Cuarterly, semiannual and annual value levels are
A3<@, @34= and <=3< with monthly, semiannual, weekly and pivots at A3<@,
A445, A45! and A4=3, the Euly 33 all-time intraday high at A<!<."4.
+ussell 3""" B ;!!<@.3@> (aily, semiannual and annual value levels are
!!35.<", !!3=.A!, =@@.53 and A5=.3= with the Euly ! all-time intraday high at
!3!3.<<, and weekly, monthly, semiannual and 'uarterly risky levels at
!3"=.53, !3!<.A=, !3A<.35 and !3=3.!!.
The S,G B ;@3=.!3> Cuarterly, semiannual and annual value levels are
@3@.=@, @"A."3, <!3.=4, 35!.<A and 335.54 with daily and monthly pivots at
@34.33 and @43.34, the Euly !@ multiyear intraday high @<3.3A and weekly
risky level at @54.@!.
(ow 6tilitiesD ;<@".<5> #nnual, 'uarterly, semiannual and annual value levels
are <4A.5", <3@.44, <33.53 and 4=5.<3, with daily and monthly pivots at
<@3.3< and <@3.<4, the Eune 3" all-time intraday high at <5@.=A and weekly
and semiannual risky levels at <5A.5@ and @!3.4=.
-tock of the .ay
( + Horton ;(H%> B ;$3!.=4> (.+. Horton, %nc., one of the largest homebuilders in
the 6nited States, builds high 'uality, single-family homes designed principally for
the entry-level and move-up markets. 8ounded in !=5A, the company builds and
sells homes with a geographic presence in the 0idwest, 0id-#tlantic, Southeast,
Southwest, and ?estern regions of the 6nited States. The company also provides
mortgage financing and title services.
#nalysis B ( + Horton has a Buy rating according to )alu*ngine and is ".=I
overvalued with fair value at $34.<= and its one-year price target is $35.43. The
daily chart shows rising stochastics with the stock below its 3!-day and <"-day
simple moving averages at $34.!= and $33.5! and above its 3""- day simple
moving average at $3!.A@ # semiannual pivot is $33."! with 'uarterly and
monthly risky levels at 3<.5= and $3@.=<.
2ourtesy 1eta/toc!>Fenith

+ichard Suttmeier has been a professional in the 6S 2apital 0arkets since !=53
transferring his engineering skills to the trading and investment world. He earned a
Bachelor of %ndustrial *ngineering degree from .eorgia %nstitute of Technology in
!=@@, and a 0aster of Science, ,perations +esearch, Systems #nalysis degree from
Brooklyn 7olytechnic 6niversity in !=5". ,ver the years +ichard appeared many times
in the financial media, on networks such as 2-B2, 2--, 2--fn, -ew :ork !,
Bloomberg T) and radio, 8o9 Business, Business -ews -etwork in 2anada, ?all Street
?eek with 8ortune, :ahoo 8inance Breakout, and the Bill 0a$er +adio Show. +ichard
has been fre'uently 'uoted in 6S# Today, The -: Times, ?all Street Eournal, +euters,
and The (ow Eones -ewswires.
With Richard /uttmeierGs
1ornin( ?riefin(E you (et
daily analysis of U/
Treasury =ieldsE GoldE
2rude OilE and 2urrency
7.chan(e Rates--3ollarE
=enE 9oundE and 7uro--as
ell as !ey technical
indicators for the maHor
e,uity avera(es#
2lic! C7R7 to /i(n
Up for 2hief 1ar!et
/trate(ist Richard
/uttmeierGs
1ornin( ?riefin(I

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