Investors Business Daily maintains a count of “distribution days” for the Nasdaq and the S&P 500. A distribution day is when one of the major indexes closed down at least 0.2% on volume heavier than the day before. If you get 6 distribution days within any 4 or 5 week period, the uptrend will typically roll over into a downtrend. The current IBD count in 8 on the Nasdaq and 5 on the S&P 500. Look out below.
If SBiotechnology closes on Monday at the same place it closed today, I will lose just under 3%. Not a good investment.
IBD TBP’s Current Outlook is “Uptrend Under Pressure” – not time to invest.
My current investments:
Nordic has a price of 45.04, a sell price 43.97, a relative rank of 16, and is a hold.
SSoftware&ComputerServices has a price of 122.83, a sell price 118.43, a relative rank of 05, and is a hold.
SAirTransportation has a price of 60.62, a sell price 59.32, a relative rank of 26, and is a hold until it falls more or is sold to buy another fund.
SBiotechnology has a price of 206.43, a sell price 212.71, a relative rank of 04, and is a sell.
OTCPortfolio has a price of 82.11, a sell price 79.52, a relative rank of 08, and is a hold.
My portfolio changes this weekend:
IRA #1 – None
IRA #2 – Sell SBiotechnology
My portfolio market exposure after this weekend’s changes
IRA #1 – 100% invested
IRA #2 – 80% invested