After several down weeks, on Monday Stanley Fischer, The Federal Reserve’s vice chairman, made comments suggesting that perhaps the FED will not raise interest rates next month and the market went up for the week.
Doug Fabian, in his Friday podcast, said we are entering the red zone. The months of August, September, and October are notorious for having sudden market drops. The November through April period, especially during a presidential election year, is the growth season.
Fidelity has that dumb rule about holding a fund for 30 days or they may stop you from buying again and charge a fee. etfdb.com lists 35 ETFs with a objective similar to FBIOX. IBB and FBIOX have 90 day performance within 0.5% and ETFs can be sold any time and even have a stop order to sell if the sell price is hit during the day. It does cost $8 to buy and sell IBB but there is no holding period.
Fidelity has a new phone system which does not work. If you call and identify yourself as a customer with a userid and password, you are put on hold because all agents are busy. I called 7 times on 15Aug and hung up after 5 to 32 minutes on hold. If you want to talk to someone, do not identify yourself as a current customer and then they pick up immediately.
IBD TBP’s Market Pulse is “Uptrend Under Pressure” – Not a Time to invest.
My current investments:
IRA#1
SBiotechnology has a price of 262.09, a sell price 264.79, a rank of 07, and is a Hold. It is only a hold because of the Fidelity short term trading rules for funds. When I finally got through to Fidelity (as a potential customer) to get the exact date, the guy did not know and his systems were down. The way I calculate it I will sell it next weekend unless it goes up at least $2.71.
IRA#2
SPharmaceuticals has a price of 24.39, a sell price 23.67, a rank of 04, and is a Hold.
SHealthCare has a price of 239.20 a sell price 234.54, a rank of 11, and is a Hold.
SmallCapGrowth has a price of 20.80, a sell price 20.14, a rank of 06, 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 – 60% invested.