John Stossel has a weekly show on the Fox Business Network. I DVR it every week, but you can also watch it at www.foxbusiness.com/on-air/stossel. It looks like it takes about two weeks before the current episode is available on the web site. The show he presented on 10/24 featured the Federal Reserve Board. The guys who have spent 3+ trillion dollars (and continue to spend 1 trillion a year) bailing out banks (domestic and foreign), corporations, and the market without even a vote in congress. The guys who with loose money and then tight money caused the depression, with loose money caused the inflation of the 70s, with loose money caused tech boom of the 90s and the housing bust of the 00s. The guys whose loose money policies (i.e. 0% interest rates) make the poor poorer, destroy the middle class (how much are you earning on your CDs), and make the rich richer. With the 0% interest rates, it will be interesting to see which will happen first: another housing market crash, a stock market crash, a bit of extreme inflation, or maybe all 3. Since the fed was put in charge of the money supply, the value of the dollar has declined more than 95% (and they have redefined inflation 20 times). His show features excerpts from the movie “Money for Nothing.” Looks like an intereting movie.
Fidelity Nortic fund has an interesting history. If I remember correctly, about 30 years ago Fidelity started some country funds – the one I remember was the United Kingdom fund. They were not a great success and were merged out of existance. Then about 20 years ago, they did it again. Again they were merged out of existance, except for Nortic. It seems, since it was doing much better than the other country funds, the shareholders voted not to merge the fund and it is doing well again today.
The sum of the deviations (1120,1123,974) is not up for the last two weeks – not a time to invest.
The DJ Wilshire 5000 index is above its 50 day moving average and the average is increasing – time to invest. Both trends are not up – not a time to invest.
My current investments:
SAutomotive has a price of $55.33, a sell price $53.10, a relative rank of 05, and is a hold.
SBiotechnology has a price of $171.03, a sell price $169.78, a relative rank of 08, and is a hold.
JapanSmallerCompanies has a price of $13.69, a sell price of $13.56, a relative rank of 37, and is a hold until I need the money to invest in a better fund or if falla a little more
Nordic has a price of 43.57, a sell price 41.39, a relative rank of 02, and is a buy.
My portfolio changes this weekend:
IRA #1 – None
IRA #2 – None
My portfolio market exposure after this weekend’s changes
IRA #1 – 100% invested
IRA #2 – 80% invested