Tough Sledding as the Nasdaq Derailed
By Dr. Paul Price of Market Shadows
Action was widely variable this week. The DJIA crept just high enough today to hit a new record close. It is now up a whopping 0.04% more than four months into 2014. The Standard & Poors 500 was slightly negative, but remains the star index so far at + 1.6% YTD.
Momentum stocks continued their downturn as the Nasdaq Composite fell another 1.3% during the week. It is now off by 2.5% YTD.
Our own Virtual Value Portfolio gave back 0.4% since last Friday. We continue to show decent relative performance with a positive 5.6% total return since December 31, 2013.
We have no opinion about the near term action of the broad market. We definitely like our portfolio and feel comfortable with our stocks. Market Shadows' cash reserve fund now sits at 3.8% of our total value.
