Bangkok Market, Thailand
US equity markets started the week quietly but showed more volatility towards the end of the week closing up modestly from last week’s close:
Although we closed slightly above resistance (and the prior high) at ~4400 we are still within the 2SD boundary of the downtrend channel – so I am not ready to call a change in trend just yet – we’ll wait and see what next week brings and whether Santa is loading up his sleigh.
US equities were, in fact, the best performing major asset class over the past week:
with most other asset classes showing losses.
The impact of this on the Rutherford Portfolio that is not holding equities:
is that we lost a little in relative performance although remain slightly ahead of the benchmark AOR fund:
Checking the current rotation graphs:
we see the demise of Commodities, Gold and the zero-based short-term treasury note market with little obvious strength anywhere. Moving to the recommendation sheet:
we do see a Buy recommendation for PCY – so I’ll cash in a few shares of T-Notes (BIL) and open a small position in P
and that will be it for this week.
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