Good Morning,
This was an interesting week. We had an extended market that pulled back a little as expected with the additional wild card of terrorists in Iraq weighing on the indices as well. Don’t get me wrong, I think that the terrorists need to go, but when analyzing it from a market perspective one has to ask just really how much Iraq which supplies on 3% of the world’s oil supply will effect the market. Nevertheless, we are invested accordingly on the street….. I might add that Gold is getting a temporary boost from this fiasco as well. I will definitely have my eye on that.
Stocks: Friday the 13th bounce
The week’s trading left us with the following signals: C-Buy, S-Buy, I-Buy, F-Neutral. Keep in mind that the major indices were all down for the week…. We are currently invested at 08/G, 92/F. Our allocation is now -3.09% for the year. Here are the latest posted results:
| 06/13/14 | |||||
| Fund | G Fund | F Fund | C Fund | S Fund | I Fund |
| Price | 14.4389 | 16.3237 | 25.2597 | 34.9165 | 26.7689 |
| $ Change | 0.0009 | -0.0151 | 0.0794 | 0.1105 | -0.0601 |
| % Change day | +0.01% | -0.09% | +0.32% | +0.32% | -0.22% |
| % Change week | +0.04% | +0.00% | -0.63% | -0.41% | -0.26% |
| % Change month | +0.08% | -0.50% | +0.76% | +1.98% | +0.65% |
| % Change year | +1.06% | +3.70% | +5.80% | +3.70% | +4.71% |
| L INC | L 2020 | L 2030 | L 2040 | L 2050 | |
| Price | 17.1683 | 22.5396 | 24.3955 | 25.9194 | 14.7276 |
| $ Change | 0.0059 | 0.0174 | 0.0247 | 0.0312 | 0.0194 |
| % Change day | +0.03% | +0.08% | +0.10% | +0.12% | +0.13% |
| % Change week | -0.07% | -0.23% | -0.31% | -0.36% | -0.40% |
| % Change month | +0.21% | +0.49% | +0.63% | +0.75% | +0.84% |
| % Change year | +2.09% | +3.41% | +3.99% | +4.37% | +4.72% |
Here’s what the SPY looked like: Chart is courtesy of StockCharts.com. Analysis is by Carl Swenlin:
“Yesterday SPY dropped below the top of the rising wedge formation, but today’s small bounce kept price hugging the bottom of the line. Volume is still substandard, and it contracted on an up day.”
“Conclusion: The rising wedge breakout has failed, and we have plenty of evidence to support the idea that prices will be headed lower for a while, probably to fall out of the bottom of the wedge, as they were supposed to do in the first place.”
I agree with Carl’s analysis. That’s why I posted it and that’s why I’m in Bonds for Thrift and in Alternative investments on the street. That’s all for this week. May God continue to bless your trades. Keep Praying!
Scott
