The weekly Market Update is posted at Alpha Baskets and includes the following;
We would take a moment to remind investors that as of Friday, the S&P 500 has traded back to where it was in mid-January and is still up on the year. As noted, it is up more than 3% in 2018. At Friday’s close it was 3.9% from its all time high. At that level it is down a little and although it has been a while since it went down at all it is worth remembering that down a little goes with the territory of engaging in markets. All advisors have some sort of strategy they implement for their clients. That strategy is less important when the market is going higher causing no emotional concern, days like Friday is when that strategy becomes crucial for clients’ long term financial success. It is unlikely that too many advisors’ plan calls for dumping large amounts of stock after a bad week and while you know that, clients might need the reminder.
Over the weekend I went to the Parker 425 Desert Race, it’s part of the same series as the Mint 400 that I have gone to and posted pictures from over the last couple of years. I am just getting started going through the pictures but here a couple from Potts Racing in the pit area before the race started. The pictures are of a service truck of sorts. Most of the better funded teams have a semi or very large motor home but this one looks like the heavy trucks that race at the Dakar Rally. I thought it was pretty neat.