Pre-holiday Rally, Post-holiday??
Although the economy is still not showing great signs of growth, we saw a couple of better than expected economic reports last week, including the jobs report, the ISM, and consumer confidence, and that was enough to propel the stock market higher last week.
It was a pre-holiday week, which is usually accompanied by light volume trading, allowing the indices to get pushed around quite easily, so we’ve been skeptical as to whether the gains can hold after the holiday. Moves against the general trend are common before a holiday, only to see things correct themselves the following week. We shall see.
For the week, the TSP funds did quite well. The C-fund was up 3.80%, the S-fund jumped 4.37%, and the I-fund led the way with a gain of 4.68%. Bonds (F-fund) slipped 0.03% and the G-fund picked up 0.05%.
The final numbers for the month of August were: The C-fund was down 4.51%, the S-fund lost 5.59%, and the I-fund fell 3.14%. Bonds and the F-fund were up 1.28% in August, and the G-fund gained 0.22%.
Because of the long holiday weekend, I’ll make this brief. Like many of you, I am out enjoying the last weekend of the summer.
Just be careful how you approach the market. The strength last week was impressive but don’t worry; you won’t miss the boat completely. If this rally turns out to be a trend changing event, we’ll have plenty of time to get aboard a new bull market. If things head south again, we’ll be glad we were patient.
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
Although the economy is still not showing great signs of growth, we saw a couple of better than expected economic reports last week, including the jobs report, the ISM, and consumer confidence, and that was enough to propel the stock market higher last week.
It was a pre-holiday week, which is usually accompanied by light volume trading, allowing the indices to get pushed around quite easily, so we’ve been skeptical as to whether the gains can hold after the holiday. Moves against the general trend are common before a holiday, only to see things correct themselves the following week. We shall see.
For the week, the TSP funds did quite well. The C-fund was up 3.80%, the S-fund jumped 4.37%, and the I-fund led the way with a gain of 4.68%. Bonds (F-fund) slipped 0.03% and the G-fund picked up 0.05%.
The final numbers for the month of August were: The C-fund was down 4.51%, the S-fund lost 5.59%, and the I-fund fell 3.14%. Bonds and the F-fund were up 1.28% in August, and the G-fund gained 0.22%.
Because of the long holiday weekend, I’ll make this brief. Like many of you, I am out enjoying the last weekend of the summer.
Just be careful how you approach the market. The strength last week was impressive but don’t worry; you won’t miss the boat completely. If this rally turns out to be a trend changing event, we’ll have plenty of time to get aboard a new bull market. If things head south again, we’ll be glad we were patient.
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
