The market got kicked in the stomach today, except for tech (who would of thunk?).
The minus six points for the S+P 500 does not reveal the extent of the ugliness; the advance decline numbers were 28% up and 66% down at the NYSE. Sentiment feels like it has eroded. The VIX has moved up two points or so over the few weeks without much attention.
I continue to remain very concerned about future direction of the market. A lot of times markets like this will turn for no reason at all. If that happens but there is no fundamental improvement, selling some stock may make some sense.
I write a lot about yield and controlling the volatility of the overall portfolio (keep in mind some components should be more volatile than the market). The portfolios I manage are participating in the market's downward move but less so thanks to low beta, high yield and foreign stocks (though you wouldn't know it today).
This landscape makes my argument for me.
Wikinvest Wire
1 comments:
Tell me about it, the market sucks lately. It's bad enough when my portfolio goes down, but I can see how it can be a real headache to actively manage OPM. That's a lot of portfolios.
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