Not a very good week. Doug Fabian on his podcast last week talked about all the market manipulation by the central banks. Last Friday the head of the US Federal Resrve indicated maybe interest rates would not be raised soon. The head of the China federal bank indicated they should reduce interest rates. The Japanese federal bank is buying bonds and stocks. All in an attempt to keep the market up. It worked on Monday with the DJIA going up 1.6% and the S&P500 and Nasdaq going up about 1.4%. Then for the rest of the week the market bounced around and ended up with about 0.5% gain for the week.
I was talking with an energy trader from Houstin this week. She feels oil has further to fall. She also was considering shorting the DJIA. I suggested with the market making moves every time a centeral banker opens his mouth it was a little risky.
IBD TBP’s Current Outlook is “Uptrend Under Pressure” – NOT a time to invest.
My current investments:
SPharmaceuticals has a price of 23.66, a sell price 23.19, a rank of 07, and is a Hold.
SHealthCare has a price of 575.06 a sell price 239.25, a rank of 03, and is a Hold.
SElectronics has a price of 86.82, a sell price 85.54, a rank of 16, and is a Hold.
SRetailing has a price of 95.31, a sell price 91.31, a rank of 08, and is a Hold.
My portfolio changes this weekend:
IRA #1 – none
IRA #2 – none
My portfolio market exposure after this weekend’s changes:
IRA #1 – 00% invested
IRA #2 – 80% invested