Weekly Update

December 2, 2017

 

Welcome to the Bollinger Band Letter Weekly Update for Saturday the 2nd of December 2017.

 

With the renewed rally maturing, interest seems to be settling on mid-cap stocks. Market internals remain solid, but there does appear to be a lot of nervousness, witness Friday's reaction to non-market news. I still feel that there is a good chance for a correction materializing, but remain bullish longer term. Upward pressure continues on shorter-term interest rates, with the five-year Treasury Index, $FVX, recording a seven-year high this week. I continue to look for higher rates across the maturity spectrum.

 

Next week will be a newsletter week, the December Bollinger Band Letter will be posted next Saturday.

 

There is one change to the ETF portfolios either last week or this week, sell PSJ and buy XLY. That is a switch from Software to Consumer Discretionary.

 

Ice Breaker has been doing quite well this fall. Below is a table that reports the performance of the currently open signals: Symbol, number of positions, average gain.

 

MDY, 3, 11.1%

IJR, 1, 5.1%

SPY, 3, 9.1%

DIA, 2, 12.1%

QQQ, 1, 8.2%

 

With the Value Line Geometric Average at 557.14, the Value Line Plan is in the market with a Friday sell stop of 544.16.

 

The current allocations are:

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

 

The ETF Program portfolio holdings:

Style (21): IUSG, 4, IWF, 2, IWB, 1.

Country (21): EWO, 4, EWI, 9, EWN, 8.

Sector (27): XLK, 2, IGV, 12, XLY, 1.

 

Details on our Allocations, Ice Breaker and our ETF portfolios can be found here:

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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