“Sell in May and go away” does not seem to be working this year. The month of June was good this year. In my 5 portfolios, IRA#1 up 6%, IRA#2 up 2%, PDP PIE PIZ DWAS up 4%, TQQQ up 11% (as was the TQQQ/SQQQ). For the 3 month numbers, IRA#1 +6%, IRS#2 +3%, PDP etal -3%, TQQQ -4%, TQQQ/SQQQ -13%. In the month of April I did not have stop loss orders in for the last 3 portfolios – I do now.
Due to the rules and regulations imposed on US citizens and on those foreign financial companies which hold their investments increased reporting is required. Citizens (and residents (green card)) have to file a form with the US Treasury by 30 June called an FBAR – Report of Foreign Bank and Financial Assets – if the foreign accounts ever have a value greater than $10,000. There are also additional forms which also must be filed with your 1040 income tax form. Foreign financial companies can be fined if they do not provide proper reporting also. Just this week, the US decided to fine a French bank, BNP, $9B for reporting failures. So US financial companies, like Fidelity, Vanguard, USAA, etc. are restricting the investments any investor who does not reside in the US in order to avoid penalties from foreign governments. I talked with Fidelity this week and they indicated any investor who lives outside the US can not invest in any of the 10k+ mutual funds they offer. Currently stocks and ETFs can still be purchased. A lady told me last year her bank in Switzerland closed her account since the required US reporting was too great. I received a call this week from a resident of Bulgaria who indicated Wells Fargo had frozen his brokerage account – all mutual funds. Fidelity says they determine your residence based on the addess you keep on your accounts.
IBD TBP’s Current Outlook is “confirmed uptrend” – time to invest.
My current investments:
Nordic has a price of 49.20 a sell price 46.94, a relative rank of 13, and is a hold.
SAirTransportation has a price of 65.82, a sell price 64.21, a relative rank of 16, and is a hold.
SElectronics has a price of 79.20, a sell price 75.24, a relative rank of 01, and is a hold.
STransportation has a price of 83.74, a sell price of 79.55, a relative rank of 09, and is a hold.
SNaturalGas has a price of 46.14, a sell price 43.84, a relative rank of 03, and is a hold.
Every fund I own in IRA#1 and IRA#2 went up this week.
My portfolio changes this weekend:
IRA #1 – no change
IRA #2 – no change
My portfolio market exposure after this weekend’s changes:
IRA #1 – 100% invested
IRA #2 – 100% invested