The quarter ended with a strong week in the first down month of the year. Here is how we look midway through the year:
Top 20 had a rough week that wiped out the positive month and quarter. Our newest position performed very well during the week, but we had several stocks decline, resulting in a .47% loss compared to the .90% gain in the S&P 500. For the month, the model lost 1.85% compared to the 1.34% decline in the S&P 500. For the quarter, the model rallied 2.83%, which was close to the 2.9% gain for the overall market.
Conservative Growth/Balanced had a strong week, capping off excellent performance during the quarter. It rallied 0.93% this week, which was .34% better than the stock and bond index. For the month, it lost just 0.7%, half as much as its index. For Q2, it rallied 5.1% compared to just 0.88% for the benchmark.
Please note that as of 6/30, I will no longer be offering the ETF model (Sector Selector ETF).
I will share a more detailed outlook in the quarterly review. I continue to be cautious near-term on stocks, though I note that we did fall into my predicted range for the correction low (1530-1570) on Monday, with the S&P 500 touching 1560.33 before closing at 1573. Interest-rates spiked that day, with the 10-year Treasury trading as high as 2.65%.
Have a great weekend and enjoy your 4th of July celebration next week.
Alan Brochstein, CFA