Pullback begins
I am on vacation this week so I will make this quick.
Stocks started a more serious pullback last week, breaking the below the rising wedge. If you want more information on the wedge, please see the prior Weekly Wrap-Ups.
For the week, the TSP funds all finished lower as the C-fund lost 3.71%, the S-fund gave up 5.28%, and the I-fund fell 4.75%. Bonds (F-fund) rallied 0.30% and the G-fund added 0.05%.
Last week's losses took all the stock fund into the red for the month of August, and it has now pushed the C-fund into negative territory for the year. That leaves the S-fund as the only stock fund with a gain in 2010.
We could be due for an oversold rally, but the technical damage is getting bad and caution levels need to remain high. I would only look for short-term hit and run attempts at the stock funds, but again, the risks are obviously high.
Good luck, and thanks for reading. We will be back here next week with another TSP Wrap Up.
Tom Crowley
www.tsptalk.com
Weekly Wrap-Ups Archive
I am on vacation this week so I will make this quick.
Stocks started a more serious pullback last week, breaking the below the rising wedge. If you want more information on the wedge, please see the prior Weekly Wrap-Ups.
For the week, the TSP funds all finished lower as the C-fund lost 3.71%, the S-fund gave up 5.28%, and the I-fund fell 4.75%. Bonds (F-fund) rallied 0.30% and the G-fund added 0.05%.
Last week's losses took all the stock fund into the red for the month of August, and it has now pushed the C-fund into negative territory for the year. That leaves the S-fund as the only stock fund with a gain in 2010.
We could be due for an oversold rally, but the technical damage is getting bad and caution levels need to remain high. I would only look for short-term hit and run attempts at the stock funds, but again, the risks are obviously high.
Good luck, and thanks for reading. We will be back here next week with another TSP Wrap Up.
Tom Crowley
www.tsptalk.com
Weekly Wrap-Ups Archive
