Wednesday when the Nasdaq was down more than 3% a member of the federal reserve board decided to discuss the possibility that the FED should consider reversing its decision to quit purchasing securities and the Nasdaq stopped the decline and started going up. I expect the FED will continue to talk the market up. The Nasdaq declined below its 200 day moving last Friday and remains below it. The crossing of the 200 day moving average is often an indication of a declining market. An interesting note on my list of top 20 funds is the fact CashReserves, which never goes up or down, is #18.
IBD TBP’s Current Outlook is “Market in correction” – Not a time to invest. The downtrend continues. SHealthCare was down 3%, SPharmaceuticals was down 2%, and SUtilities was down 1%.
My current investments:
SHealthCare has a price of 208.22, a sell price 211.32, a rank of 04, and is a Sell.
SUtilities has a price of 73.12, a sell price 71.68, a rank of 10, and is a Hold.
SPharmaceuticals has a price of 20.44, a sell price 20.71, a rank of 09, and would be sold if I had owned it for 30 days. To sell it before 30 days violates on of Fidelity’s dumb rules.
My portfolio changes this weekend:
IRA #1 – none
IRA #2 – Sell SHealthCare
My portfolio market exposure after this weekend’s changes:
IRA #1 – 00% invested
IRA #2 – 40% invested