David Stockman’s Contra Corner is a place where mainstream Delusions and cant about the Welfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. His article on 14Nov14 was titled “Take Cover Now—They Don’t Ring A Bell At The Top” is worth reading http://davidstockmanscontracorner.com/take-cover-now-they-dont-ring- a-bell-at-the-top/
Investors Business Daily The Big Pictures’s Current Outlook reports the S&P500 had a distribution day on 04Nov and the Nasdaq had a distribution day on 29Oct and 13Nov. The rate of increase is slowing, but nothing to worry about yet. Over the last 27 market days the S&P500 has been up 10%. The trend obviously cannot continue. It it did, over the next 12 months the S&P500 will be up about 90%. The market was helped this week by China cutting its federal funds rate and the EU reserve bank talking about buying up more member countries debt. The only thing the market seems to be watching these days is the amount of money various countries will print.
IBD TBP’s Current Outlook is “Confirmed Uptrend” – time to invest.
My current investments:
SPharmaceuticals has a price of 22.47, a sell price 21.35, a rank of 08, and is a Hold.
SBiotechnology has a price of 231.73, a sell price 222.25, a rank of 02, and is a Hold.
SHealthCare has a price of 230.51. a sell price 218.98, a rank of 03, and is a Hold.
STransportation has a price of 94.11, a sell price 89.40, a rank 0f 01, and is a Hold.
SAirTransportation has a price of 71.22, a sell price 67.64, a rank of 04, and is a Buy.
Over the next couple of weeks, Fidelity will be distributing year end distributions – for example, SBiotechnology’s distribution is going to be about $25.31 per share on 12/05. You have the choice to have them reinvested in the fund or invested in CashReserves. I have always felt that CashReserves is the best place because by the time a fund has a distribution, it may not be a buy but could be a sell. Call Fidelity to change your distribution options.
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