S&P/ASX 200 Buring up for your lovin’
S&P/ASX 200 Sector Returns Month and Year to Date
go burn me up, cause I’m on fire
and I can’t reach my desire
do you know that I’m burning up for your lovin’
you ain’t convinced that that is nothing Ciccone Youth – Burnin’ Up
The ASX continues to power higher, climbing a wall of worry with a helpful leg up from from those looking to call a market top. Yeah the market is overbought, but the trend is your friend and you don’t want to fight your friends.
Consumer Discretionary pipped Industrials as the biggest gainer for July, followed by Materials and Telecommunication Service. Year to date Materials continue to shine, followed by Information Technology which lagged in July, with Consumer Discretionary in third place.
As our biggest gainers this year have been in health care and financials it once again goes to show that we invest in a market of stocks not a stock market.
I’ll let you judge how closely the S&P/ASX 200 sector performance aligns with sector rotation theory.
Disclosure: I am trimming my US stock and Australian share portfolios. I will continue to trim my equity positions if this rally continues. Now that’s just me and many other market participants view closing over the 200 day moving average as a signal to buy. It’s probably time I posted an update of my investometer. August calls sold on VRTX and MMM, trimmed KONG position (I know I said I’d use a trailing stop, but I really don’t have a head for heights, plus I kept half) and sold out of SSD. In Australia I’ve trimmed my bank holdings, despite them looking strong with some room to run. Financials were just becoming too large a percentage of our portfolios.
As always this is for entertainment purposes only and I hope ti gives you a good laugh.
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