Only the ‘Shorts’ were unhappy today.
By Dr. Paul Price of Market Shadows
The shortened trading schedule didn’t bother anyone except the perma-bears. The DJIA surpassed 17,000 for the first time ever while the S&P 500 also posted a new record. After a very poor start to 2014, the Nasdaq Composite has drawn into a virtual dead-heat with the SPY year to date.
Market Shadows has no complaints. Our value portfolio closed at a new high today as well. We are now up more than 10.6% YTD and about 54.4% since inception on Oct. 26, 2012. We’re annualizing at a very respectable 32.28% in our unlevered, plain vanilla portfolio.
Our most recent new additions, Kelly Services (KELYA) and Bed, Bath & Beyond (BBBY) both had nice gains in today’s shortened trading session.
Despite a fine week, the DJIA has gained less than half as much as the other two major indices so far in 2014. Perhaps it is readying itself to make a catch-up move later, as the NASDAQ did in almost pulling even with the SPY.
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Our fully invested stance has proven to be the right choice. Click on the link to see all our closed-out and open equity positions.
Market Shadows Virtual Value Portfolio.
