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July 11, 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,,fourteen "y dou"le di(its#
MARKET OVERVIEW
Inde- .tarted ee! /riday A0 1han(e 1han(e ' ytd
23IA %&'()"*) %(*&*") ,%45#5& ,%#)6' %#4+'
NA.2A7 ++&&"&+ +),*")* ,$6#&8 ,%#$$' 5#&%'
RU..9LL +))) %-'+"(+ %%.*"%* ,:8#:8 ,&#48' ,)#:$'
.;< 5)) %,*+"-- %,(%"+* ,++#$: ,%#%5' 8#%+'
.ummary of V9 .toc! Universe
.toc!s Undervalued +4#+$'
.toc!s Overvalued $%#$&'
.toc!s Undervalued "y +)' 4#)8'
.toc!s Overvalued "y +)' &)#)%'
SECTOR OVERVIEW
.ector 1han(e 0T2 =T2 Valuation Last %+,0
Return
<>9
Ratio
Aerospace -'"++/ --"%./ '"--/ %-"'&/ overvalued )'"(-/ %,"+&
Auto,Tires,Truc!s -'"*,/ -%"-(/ ."-*/ %*"%'/ overvalued -+"%&/ %(",&
?asic 0aterials -%")'/ -'")(/ ("-(/ *",'/ overvalued %,",)/ -,"%%
?usiness .ervices -%"+)/ -%",./ -%"+,/ ,",&/ overvalued -."%(/ -("*.
1omputer and Technolo(y -'"(./ -%")'/ +"(+/ %+"+*/ overvalued -%"%'/ )-"%*
1onstruction -'",,/ -%"+./ %".'/ +"(+/ overvalued -%",(/ -+"(*
1onsumer 2iscretionary -'"&&/ -%"))/ --"-./ %'"*+/ overvalued %,"+(/ -*"%%
1onsumer .taples -'"&(/ -'")&/ .".(/ %*"++/ overvalued -'"%(/ -(")&
/inance -'"++/ -'".(/ )"-'/ %%"&%/ overvalued %-",*/ %*")-
Industrial <roducts -'"&,/ -%"+,/ %"../ %%"%+/ overvalued %,"&)/ -)"+*
0edical -'"++/ -%"*(/ *"++/ %)"()/ overvalued )%".*/ -,")%
0ulti,.ector 1on(lomerates -'"(./ -'".'/ +"-)/ %&",%/ overvalued %&"&+/ -%"%(
Oils,9ner(y -%"%(/ --"-%/ %'"-)/ %("%+/ overvalued -&"+(/ -*"'.
Retail,Wholesale -%"-&/ -%".+/ -)"*(/ %)")+/ overvalued *"),/ -."++
Transportation -%"'./ -%"'&/ ."%*/ --".*/ overvalued )%"+%/ -+"+
Utilities -'"+&/ -%"-)/ &"*(/ %%"-(/ overvalued %,"-*/ -%"')
ValuEngine Newslettes !atest Results
V9 Nesletter 1urrent 0onth Total .;< 5)) Last 0onth Total .;< 5)) .ince
Inception
.;<
5))
/orecast 0N. :#+& %#4% ,&#64 +#4) 48#&& %%+#%+
2ividend .toc! ,)#:4 )#5+ 5#%4 &#$% +%#$5 +8#:&
.mall 1ap .toc! ,%#45 )#84 :#+& &#$4 &%#4& :%#+6
Vie +#+$ %#56 6#+& &#86 %%6#85 $%#:4
Se"t# Tal$%C#&'utes an( Te")n#l#gy
Below, we present the latest data on leading Computers and Technology
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
shares!day volume.
Top,/ive 1omputers and Technolo(y .ector .toc!s,,.hort,Term /orecast
Returns
Tic!er Name 0!t <rice Valuation@'A Last %+,0
Retn@'A
1?I 01I0234 56I73E (,"- -%%"+- %."')
I1A E896E:2: I02 &"*. -)"+) ."-)
R=L 6;<2=7 369 I=0 ),".% -,"'% -)"'&
0TB 8E6IT23E 148E: +-"(* -*"&% -)"',
0L0 826TI= 86T-82T< %-&"'( -%*"(. -,"(*
Top,/ive 1omputers and Technolo(y .ector .toc!s,,Lon(,Term /orecast
Returns
Tic!er Name 0!t <rice Valuation@'A Last %+,0
Retn@'A
1?I 01I0234 56I73E (,"- -%%"+- %."')
I1A E896E:2: I02 &"*. -)"+) ."-)
R=L 6;<2=7 369 I=0 ),".% -,"'% -)"'&
0TB 8E6IT23E 148E: +-"(* -*"&% -)"',
0L0 826TI= 86T-82T< %-&"'( -%*"(. -,"(*
Top,/ive 1omputers and Technolo(y .ector .toc!s,,1omposite .core
Tic!er Name 0!t <rice Valuation@'A Last %+,0
Retn@'A
1?I 01I0234 56I73E (,"- -%%"+- %."')
2BI 7 6 146T4= I=0 -+"(& -"(& %*"-(
/LR ><?46 0469-=EW &&",% )",+ ))"(+
L9N <E==26 0469 -2 +%",) '"(, %,"*)
0L0 826TI= 86T-82T< %-&"'( -%*"(. -,"(*
Top,/ive 1omputers and Technolo(y .ector .toc!s,,0ost Overvalued
Tic!er Name 0!t <rice Valuation@'A Last %+,0
Retn@'A
T<1 T?T46 9E6I=I 09 )%"() +."-+ &)".%
?CB 5E2@E6 148E: -'"() +%"(( %("**
/WLT >4:TE6 W1E<6 23 )+".. )*",, (-"-%
O9.D 46I4= E=E63; :; +"). )&"*) &*"-*
URI ?T7 6E=T2<: I=0 %'&". )'",% %%."'+
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/R99 TRIALE
<lease 1lic!
B9R9
*ee +#wnl#a( ,# Rea(es
(s a 0onus to our Free Weekly #ewsletter su0scri0ers, we are offering a F.EE
,$W#&$(, of one of our Stock .eports
$inerals Technologies %nc. is a resource and technology-based company that
develops, produces and markets on a worldwide basis a broad range of specialty
mineral, mineral-based and synthetic mineral products. The Company has two
operating segments& Specialty $inerals and 'efractories.
(alu)ngine updated its recommendation from B*+ to ST',-. B*+ for $%-)'/0 T)C1
on 2#"3-#4-"#. Based on the information we have gathered and our resulting
research, we feel that $%-)'/0 T)C1 has the probability to ,*T5)'6,'$ average
market performance for the ne7t year. The company e7hibits /TT'/CT%() Sharpe
'atio and $omentum.
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.ead our 1omplete ,etailed Valuation .eport on Mineral )ech B9R9#
W)at-s .#t
//Valu9n(ine Vie <osts Bu(e GainE Almost Triples .< 5)) for 0onth
The 8ury is still out on the 9Sell in $ay and .o /way: ma7im this Summer, but the
warmer weather certainly hasn;t cooled off the (alu)ngine (iew;s performance. 6or
$ay!<une, the (alu)ngine (iew returned to its winning ways with a great month, =e
saw winners almost across the board with a hit ratio of >#?. Strong market gains were
met with even stronger results from our picks. ,ur portfolio posted a big gain in e7cess
of @? and more than doubled the SA5 B##. The trailing "2 month gain of the () (iew
is 33.33? versus the SA5 B## return of "4.B4?. =e are almost doubling the SA5 over
the past year. The return since inception of the (iew is ""@.CB? versus the SA5;s gain
of 4".3>?. %t remains our best performing newsletter under current market conditions.
Return 1omparison vs# .;< 5))
Last %+ 0onths
VE View ))"++/
:A9 .'' %&".&/
=e had twelve winners this monthDwith five one of them posting double-digit
gains. 0annett posted a big gain of almost 2@? and was followed by Canadian Solar,
$icron Tech, Synne7, and Brocade. 0osses were minor from /mtrust, .ielad, and
.ente7Dnone of which topped 3?.
With the ValuEngine View #ewsletter you .eceive 2+ 1arefully Selected Stock Picks
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Bere are the latest results from 0ay>3une +)%::
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The (alu)ngine (iew -ewsletter is derived from the (alu)ngine /ggressive and
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(alu)ngine;s academic
research team and combine
cutting-edge financial
analysis and portfolio
construction techniFues with
real-world =all St. know how.

1LI1F B9R9 to .u"scri"e to
the Valu9n(ine Vie
The (alu)ngine (iew -ewsletter portfolio has "B primary stock picks and five
alternates and is re-balanced once each month. The (alu)ngine (iew -ewsletter is
published near the middle of each calendar month. /n eFual amount of capital is
allocated to each stock. The monthly returns are calculated from the closing prices
on date of publication. The performance calculation does not include any
transaction costs.
Sutt&eie Says
""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--G2.B3"H Eaily, monthly and Fuarterly value levels are 2.C2", 2.4>4 and 3.#3>
with weekly, annual and semiannual risky levels at 2.B2>, 2.2C3, ".@@@ and ".44@.
3#-+ear Bond I G3.343H Eaily, monthly and Fuarterly value levels are 3.334, 3.3>C and
3.@4" with weekly, annual and semiannual risky levels at 3.3BB, 3.2>3, 3."#4 and 3.#>2.
Co!!o#ities an# )ore*
Come7 .old IG"33C.CH =eekly, Fuarterly and monthly value levels are "2@>.#,
"233.C and "233.> with a daily pivot at "334.", and semiannual and annual risky
levels at "C"3.#, "43>.4, "434.3 and ">">.>.
-yme7 Crude ,il I G"#2.>4H Eaily and monthly pivots are "#".42 and "#B.23 with
semiannual, annual, weekly and Fuarterly risky levels at "#C.3>, "#4.B2, "#>.BC and
""3."2.
The )uro I G".3C#>H =eekly, annual and semiannual value levels are ".33>C, ".33>2
and ".22#3 with a daily pivot at ".3C"@ and monthly, Fuarterly, semiannual and
annual risky levels at ".3>"@, ".3#4@, ".3C"4 and ".BB"2.
+a,or In#ices
Eaily Eow& G"C@"BH Semiannual and annual value levels are "C3#", "3>3B
and "33C4 with daily and weekly pivots at "4#B3 and "4#42, the <uly 3 all-
time intraday high at "4#43.CB and monthly, Fuarterly and semiannual risky
levels at "43C3, "44B3 and ">BB2.
SA5 B## I G"@C3.4H Semiannual and annual value levels are "4>@.3, "B3@."
and "332." with the <uly 3 all-time intraday high at "@>B.2@ and daily,
monthly, weekly, Fuarterly and semiannual risky levels at "@>#.C, "@@3.2,
2##C.B, 2#B2.3 and 2#>#.3.
-/SE/J I G33@CH Semiannual and annual value levels are 3@42, 334" and
3#C3 with the <uly 3 multiyear intraday high at 33>B.@3 and daily, monthly,
Fuarterly, weekly and semiannual risky levels at 33C", 3B2@, 3BC@, 3B4# and
3C32.
-/SE/J "## G-EKH I G3>>#H Semiannual and annual value levels are 3B"B,
3#4> and 2CC@ with a Fuarterly pivot 3>@3, the <uly 3 multiyear intraday high
at 3@23."B, and daily, monthly, weekly and semiannual risky levels at 3@32,
3@3C, 3#"3 and 3"#B.
Eow Transports I G>22CH Semiannual and annual value levels are 4323, C23@
and B@3B with a Fuarterly pivot at >2BC, the <uly 3 all-time intraday high at
>2@>."4 and daily, monthly, semiannual and weekly risky levels at >2@",
>3CB, >334 and >B3>.
'ussell 2### I G""C".>CH Semiannual and annual value levels are ""3@.>",
@CC.42 and >4@.3@ with the <uly " all-time intraday high at "2"3.BB, and daily
monthly, weekly, semiannual and Fuarterly risky levels at "">#.#C, "2"B.>@,
"222.@3, "2>B.34 and "2@3."".
The S,K I GC33.34H Juarterly, semiannual and annual value levels are
C2C.@C, C#>.#2, B"2.@3, 34".B> and 334.43 with a monthly pivot at C32.33, the
<uly 3 multiyear intraday high CB".32 and daily and weekly risky levels at
CB@.33 and CC3."B.
Eow *tilities& GBC2.32H Eaily, annual, Fuarterly, semiannual and annual value
levels are BB2.@B, B3>.4#, B3C.33, B23.42 and 3@4.B3, with weekly and
monthly pivots at BC".33 and BC3.B3, the <une 3# all-time intraday high at
B4C.@> and semiannual risky level at C"2.3@.
-tock of the .ay
%ntel Corp G%-TCH I G3".2CH %ntel Corporation is one of the world;s largest
semiconductor chip maker. The Company develops advanced integrated
digital technology products, primarily integrated circuits, for industries such as
computing and communications. %t also develops platforms, which it defines as
integrated suites of digital computing technologies that are designed and
configured to work together to provide an optimiLed user computing solution
compared to components that are used separately. %ntel designs and
manufactures computing and communications components, such as
microprocessors, chipsets, motherboards, and wireless and wired connectivity
products, as well as platforms that incorporate these components. The
Company sells its products primarily to original eFuipment manufacturers,
original design manufacturers, 5C and network communications products users,
and other manufacturers of industrial and communications eFuipment. %ntel
Corporation is based in Santa Clara, California.
/nalysis I %ntel has a 1old rating according to (alu)ngine and is 3#.2@? overvalued
with fair value at 23.4" and its one-year price target is 3#.C#. The daily chart shows
declining stochastics with the stock above its 2"-day, B#-day and 2##-day simple
moving averages at 3#.33, 2>.23 and 2B.CB. Semiannual and monthly value levels
are 2@.4@ and 2>.#C and weekly risky level at 3".3".

'ichard Suttmeier has been a professional in the *S Capital $arkets since "@42
transferring his engineering skills to the trading and investment world. 1e earned a
Bachelor of %ndustrial )ngineering degree from .eorgia %nstitute of Technology in
"@CC, and a $aster of Science, ,perations 'esearch, Systems /nalysis degree from
Brooklyn 5olytechnic *niversity in "@4#. ,ver the years 'ichard appeared many times
in the financial media, on networks such as C-BC, C--, C--fn, -ew +ork ",
Bloomberg T( and radio, 6o7 Business, Business -ews -etwork in Canada, =all Street
=eek with 6ortune, +ahoo 6inance Breakout, and the Bill $aLer 'adio Show. 'ichard
has been freFuently Fuoted in *S/ Today, The -+ Times, =all Street <ournal, 'euters,
and The Eow <ones -ewswires.
With Richard .uttmeierGs
0ornin( ?riefin(E you (et
daily analysis of U.
Treasury =ieldsE GoldE
1rude OilE and 1urrency
9-chan(e Rates,,2ollarE
=enE <oundE and 9uro,,as
ell as !ey technical
indicators for the maHor
e*uity avera(es#
1lic! B9R9 to .i(n
Up for 1hief 0ar!et
.trate(ist Richard
.uttmeierGs
0ornin( ?riefin(I

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