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The stock market saw its first shakeup of the new year last week with a 2% decline from Tuesdays' high to Thursday's low. Hardly anything to panic about, and we did get a snap back rally on Friday, but we did see some technical breakdowns in the charts after a couple of false breakouts.
Here are the TSP fund returns for the week of February 19 through February 22 - the first negative week
Stocks dropped again yesterday as investors were still trying to digest Wednesday's news from the Fed that possibly puts quantitative easing in jeopardy. The Dow fell 47-points but like Wednesday, the broader indices saw some stiffer losses.
TSP Talk Sentiment Survey results for the week of 2/25/13- 3/01/13
Buy: The TSP Talk Sentiment Survey came in at 29% bulls, 63% bears, for a bulls to bears ratio of 0.46 to 1. That is a BUY signal in a bull market which means the survey system will remain in a 100% S fund allocation for the week of 2/25/13 - 3/01/13.
Bull market rules have been in effect since the week of 1/09/12:
See latest survey results
To discuss or comment on the Sentiment
Stocks saw their biggest decline in months yesterday after the Fed suggested they might slow or even stop buying bonds sooner than expected (i.e. kill the QE program). The Dow lost 108-points while we saw larger losses in the broader indices.
We all know Europe has been struggling lately. But there are signs that they are turning a corner. Just today the German DAX Composite shot up after a better than expected consumer confidence report. And the iShares MSCI EAFE Index Fund (EFA), which roughly tracks the TSP’s I Fund, benefited as well. Index Universe.com reports indicate that EFA short interest has been dropping lately; 8% in December and 24% in January.
And then there are currency differential in these exchange