Here is my June 2019 ending market barometer report which follows the S&P 500 Index.
Old_Skeet being a retail investor provides this information for information purposes only. It simply reflects what I am seeing in the markets, my thinking, along with what has worked best within the Index and within my portfolio for the past month.
Old_Skeet's market barometer closed the month with an overvalue reading of 140 which is down from May's month ending reporting of 158 which indicated that the Index was undervalued as we entered June. Generally, a higher barometer reading indicates there is more investment value in the Index over a lower reading. For the month short volumes in the Index have climbed as some investors again increase their short positions. The yield on the US10YrT has moved from 2.13% down to 2.01%. From last reporting the 500 Index has moved from 2752 up to 2942 for a 6.9% gain. For the month of June, according to SPDR's Sector Tracker, the three best performing sectors were materials, technology and consumer discretionary. With the continued decline in Treasury yields it seems some investors continue to seek out bonds. From my thinking, there remain a number of concerns that investors should continue to follow. They are, but not limited to, a global economic slowdown, a bubble in valuations (stocks & bonds), a decline in corporate earnings, a continued trade and tariff tif, and a possible rise in inflation due to higher cost for consumer goods. I wonder what the FOMC will do?
So what did Old_Skeet do within his portfolio during the month of June? As you may recall, I first trimmed my equity allocation back at the first part of May just to add back to it during the mid to late part as stocks began to rally thus playing the June swing that took place. During the past week I've rebalanced, booking some profit, raising cash while also adding to one of my global equity monthly distribution funds which has a 3.4% dividend yield and also to one of my emerging market mutual funds which has a 2% dividend yield. For the month, my three best performing funds were DWGAX +7.46% ... NEWFX +6.38%% ... and, AOFAX +6.26%.
So what is Old_Skeet doing as July approaches? Since, I have now rebuilt my cash allocation, from reducing my equity allocation, I am awaiting the next stock market pullback where I can again make a swing type equity spiff investment while at the same time I continue with my income generation theme, now being retired, buying income generating assets from time-to-time.
My thinking, my positioning, along with my comments, should not to be taken as investment advice.
Thanks for stopping by and reading.
I wish all ... "Good Investing" as I continue to enjoy summer and follow the markets.
Old_Skeet
