The market commentary part of this week’s review is going to be one of the shortest ever, because quite frankly not a whole lot changed. I have to admit, I tuned out the noise even more than usual this week, so I couldn’t necessarily tell you what people said, just what they were talking about, and that was China and death crosses, neither of which were relevant for me.
The simple fact is, the S&P remains rangebound, below its MA’s, and it put in another higher low. Accompany that with the prevailing bearish sentiment, and an eventual resumption higher remains the most likely course of action.
The Alpha Capture portfolio was +0.4% this week, vs +0.7% for the S&P.
It’s now +11.4% YTD vs +1.6% for the S&P.
We had three exits all for losses: $IMS -8.0%, $SBNY -4.4%, and $KEY -4.2%. We also had two new entries, one of which was moved over from our list of trade ideas.
That leaves us with 7 names and 34% cash heading into next week.