Not a good week. Out of the 130 funds I follow only CashReserves is a buy and it has a fund rank is 108. Friday the IBD TBP’s Current Outlook changed due a day when both the Nasdaq and S&P500 had distribution days. Distribution days happen when the market is down on volume – an indication the large portfolio managers are selling.
The world wide printing of money has resulted in countries like Germany, Denmark, Finland, Netherlands, and Austria selling negative yielding bond. You can purchase a bond which at maturity will be redeemed for less than your purchase price. There have been over 2T of such bonds issued. This is just another governments effort trying to get investors to invest in the market or spend their money to stimulate the economy.
Gary Kaltbaum’s Friday podcast suggests the Nasdaq on 02Mar when it close at over 5,000 was at a near term top – for two or four weeks – subject to change.
The price of Biotechnology and HealthCare funds continue to go up. It really reminds me of the .com bubble in 2000 which did not end well.
IBD TBP’s Current Outlook is “Uptrend Under Pressure” – not a time to invest.
My current investments:
SPharmaceuticals has a price of 22.88, a sell price 21.93, a rank of 08, and is a Hold.
SBiotechnology has a price of 258.46, a sell price 245.54, a rank of 01, and is a Hold.
SHealthCare has a price of 237.16 a sell price 225.30, a rank of 02, and is a Hold.
SElectronics has a price of 89.46, a sell price 84.99, a rank of 03, and is a Hold.
SRetailing has a price of 94.11, a sell price 89.40, a rank of 05, 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 – 100% invested
IRA #2 – 100% invested