Weekly Update

September 9, 2017

 

Welcome to the Bollinger Band Hotline for the 9th of September 2017.

 

This is a newsletter week, the September Bollinger Band Letter will be posted next Saturday. The major topics will be a replacement for the Value Line Plan and our outlook for the rest of the year.

 

Mid-cap and smaller stocks are showing some signs of wanting to play catch up to their bigger brethren while growth continues to lead value. The most interesting bit is that the NYSE advance decline line is recording new highs amid what seems like very sloppy trading. I am still expecting volatility, but improving internals suggest that we may have raised enough cash for now. Safe bet, financial sector ETF XLF, is down seven percent in a month. That's not devastation, but it was a market leader. Our FAANG Index fell 11 percent before recovering half the decline and turning down again. Again, not devastation, but these were the leading stocks. My point is that there is a lot going on under the surface and it still looks like we are on schedule to create a fall low.

 

There is one change to the ETF portfolios this week, sell IXG and buy PSJ. That is a shift from Global Finance to Software.

 

The Value Line Plan is in the market. With the Value Line Geometric at 514.86, the Friday sell stop is at 505.66.

 

The current allocations are:

50% US stocks, 10% International, 10% Yield and 30% Cash.

 

The ETF Program portfolio holdings:

Style (21): IUSG, 3, IWF, 1, IWB, 5.

Country (21): EWO, 1, EWS, 10, EWN, 3.

Sector (27): IXJ, 2, IGV, 5, PSJ, 1.

 

Details on our Allocations, Ice Breakers and our ETF portfolios can always be found online:

https://www.bollingerbands.com/bb-letter/

 

Until next time, I wish you well.

 

John Bollinger, CFA, CMT

 

Copyright 2017 by Bollinger Capital Management

 

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