Despite the market's strong week, my portfolio staggered through. As 4th quarter stared to come in, the bull market was revitalized. It is becoming a widely-recognized opinion that the economy is backing up this bull market. The S&P 500 is coming up on what will likely be resistance at 1300. I will be closely watching how the market reacts to this, especially during earnings season. Meanwhile volatility is at the point that it bottomed at on April 12th, right as the market itself topped out. This is an important correlation to watch.
Genco Shipping collapsed back to a bit below my cost this week, which was part of my return of -.59% this week. Genco was down 4% on the week.
NRG Energy has continued its slow but steady ride upwards and was 3% on the week.
Bank of America has been the thorn in my side (I didn't buy it in my actual portfolio). It is up 30.5% since I bought it for the model portfolio. It had another stellar week this week, up 7%.
GMX Resources rose up to resistance at $6 and then collapsed back down to support at $5.5. It was the big drag on my portfolio this week, down a little over 8%.
Navigant Consulting recovered after two weeks of sluggish performance, up 3.7%.
The model portfolio is up 4% YTD, versus an S&P 500 return of 2.8%. The total return since inception mid-October is 33.5%, versus an S&P 500 return of 10.5% over the same period.
Disclosures: I am long NRG, NCI, and GMXR in my actual portfolio.