Broad Market Outlook
As the market continued to hit new all time highs 3 times last week we saw some interesting action among one of the slowest trading weeks of the year.
REITs, Healthcare, Discretionary's, Telecom, Bio techs, Mid Caps and even Utilities rallied to new highs.
Quite frankly it would have been easier to list what hadn't made new highs.
Stock wise for those in MTCH with myself up off of support we got some great news as its being added to the S&P resulting in a nice gap up as every fund that mirrors the SPY is forced to buy.
Putting us in an even better position to hold our winner.
Over the weekend in between moving into my new house, I headed back to the track and spend the day as a student to the track learning from far more experience riders.
On a day to day basis I am often giving more advice/mentoring then I do receiving mentoring. Yet at the track I was the one being mentored and re enforcing the real benefits proper mentioning can have.
My first time out without a mentor trying to figure out the best way to make it around the track. I felt fast, just as we always think our trading is the best. Yet as I exited the track I was quickly waved down.
Thinking I was about to be congratulated for my superior skills and moved up to a more advanced group. The mentor quickly brought me down to earth telling me the numerous faults I had made.
In that moment, I felt like literally garbage but my next time back on the track, I made improvements. Then as the day progressed I continued to look out for and find the coaches on the track to follow them through each turn.
As the day progressed I continued to improve far more dramatically by following there lead then trying to do my own thing. Just as we try to do with your own trading.
By the end of the day I was taking corners with my knee dragging along the floor and for any real rider that is the equivalent of your first comma day.
(for those who don't ride this is what knee dragging is)
That day was a consistent reminder that at first the feedback we receive often might not feel the best, but in time we strive for honest feedback to take our skills to the next level.
Always remember we are hear to help and give you honest feedback, yet we need to see you in action to spot the mistakes.
From Ben G
Macro Rotation Outlook