Performance for SPY past 12 months is below...down 3.5% in January with lots of distribution days, index down 9 of 21 days on above average volume...6 in last two weeks. Finished month under 50 day average.
Aggregate US bonds AGG are up, finally, above 50 and 200 day averages...1.5% for month:
And emerging markets EEM, just slammed, off 8.6% this month, back under 50 and 200 day averages, like last May:
For those bullish on the economy, like me, not a good start to 2014.
Comments
Our house is bullish enough to think/know some of the economic fields have been plowed, a few crops have been planted here and there; but I'm still not so sure about some of the "farmers" who have been or are in charge of the planning committees.
Well, the baseline, IMO is that the path from plowing the economic fields and planting some crops; let alone an actual overall harvest is going to be much longer on the calendar of months/years than many folks had previously predicted.
'Course, who am I, against a committee piled high with PhD Economist farmers?
Our house will harvest the crops we may; based upon on our best judgement at the time.
Hey, take care.
Catch
Regards,
Ted
That Old Time Religion: