Have not posted in about 6 weeks. Hope everyone is doing well. And hope your portfolios are are in the midst of a strong recovery.
My portfolio has been on a strong upward move since the Mar 23 low. Only 7% below the Feb 17 high this year.
Market has been very strong this week, some economic signals are getting stronger. Think the market is indicating that qtr 2 may not be nearly as bad as originally predicted.
Some of the economic indicators I watch are not doing well. But there has been improvement. The 10/2 yield curve is no issue. Interest rates, no issue.
Jobless claims are horrendous as everyone knows. Oil is rising, that is good. Like to see it get into the mid 40's. Copper is rising, think it is around 2.40 today. Range of 2.50/2.60 will be good. If things go well the next 2-3 weeks, should see significant improvement in the economy.
Back to my portfolio, only made two very small changes to my holdings. Dropped one stock in my ROTH account, it was down about 60%, only had about 8-10 shares and initial purchase was only about $150. Made a small change to my IRA account. Mid April after recovering a nice amount from the big drop, opened a small position in a short term treasury fund. Converted about 1% into the treasury fund. No other selling in any of my accounts.
Non-Retirement portfolio - Did not do any investing in May. Sitting on some dividend cash from May and June is a strong dividend month. April, Mar moves were mostly reinvesting dividends in bond and treasury funds. Did reinvest a little in my existing stocks.
Still have a few stocks that are down 20-25% or so. Expect these to recover over the next 2 qtrs. Some stocks are 5-10% below 52 week highs and some nearing a 52 week high.
Some info on stocks since mid-late Feb:
Utility stocks are still down about 10-20%. Will be stronger as more companies bring people into the office. SO, AVA, WEC, DUK
CAT - down about 15%
CBRL - down about 30%. Should see nice recovery as more people eat out and travel. Has made some strong moves in the last 2 weeks.
SYY - down 30%. Another stock dependent upon business reopen.
OKE - down almost 50% from Feb. Strong recovery since M23.
JNJ, PG, PEP, ITW, MSEX - All doing good.
KR - added Kroger in Mar/Apr. Up about 6%, nothing great.
Railroad report - Out running 26 of 31 days in May. Seeing fewer empty flats being pulled the last week or two. Nothing like late April. Some days I did see 2 trains. Monday this week saw the end of one train, 10 or so empty flats. Another train was pulling a full load of flats, hoppers, tankers and box cars. Two engines in front, two in the middle. Moving the goods. Norfolk-Southern is the RR company if you are curious. Have UNP in my portfolio and it is doing well. Do not own NSC.
Probably did bone a favor posting this report. Market down tomorrow?
