Saturday March 28, 2015

$SPY, $STUDY,  Friday’s gain gave the bulls a thin string to hang on to as we closed out an otherwise tough week. The Alpha One model gained 1.67% for the week and has again maintained its Y-T-D appreciation do to the Options Trading activity this past week since the equity holdings did decline slightly.  The S & P 500 appears to have given back the majority of the year to date gain now at 0.10% for the year whereas last week the index had an appreciation of 2.39% for the year.  Take a look at the holdings page for the both the Alpha One and the Alpha Two models for comparable period returns.  I remain too modest to write about them here.

The market may be stewing about the upcoming earnings season which starts in about two weeks. Before then, the March jobs report which is due out next Friday will truly be the only major data release for the coming week, which will be a short trading week with the market closing for ‘Good Friday’. Technically, momentum is bearish while volume is drying up. As long as the S&P 500 holds its 2040 support level, expect more lackluster sideway moves. We remain partially committed in the equity portfolio at around 40% long.  The Asset Allocation models is reading at 62.5% long and 37.5% cash.  There are some very attractive names on the Watch list including SBUX and BIIB, but with the quarter end in front of us and only news to trade on in the coming week I will remain light until a firm indication of direction is forth coming.