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The S&P was up +3.7% in February and +5.6% on the year. That's a pretty darn bullish way to start 2017. But on the last day of February the mantra was "Sell, Sell, Sell".
As per usual Risk Off behavior like that barely shows up in the conservative stocks dominating the S&P and Dow. This result is much more apparent in the -1.1% decline of mid caps and -1.5% shellacking of the small caps.
This is most likely a round of profit taking than a true change in trend. That is because the economic news on Tuesday was robust starting with the impressive 114.8 read for Consumer Confidence. (Note we spent most of 2016 under 100).
Next we find that the Chicago PMI soared from 50.3 to 57.4. This is considered the most important regional manufacturing report with correlations to national ISM Manufacturing which gets released this morning.
For the past 82 years, you've likely missed out on some of the biggest winners in the history of investing. Businesses like GoPro, which would have turned a $100 stake into about $133,000... Airbnb, where a $100 stake from 2009 is now worth $797,000... and Uber, which turned $100 into $1.25 million over the past 7 years. But you don't have to miss out anymore!
For the past 82 years, you've likely missed out on some of the biggest winners in the history of investing. Businesses like GoPro, which would have turned a $100 stake into about $133,000... Airbnb, where a $100 stake from 2009 is now worth $797,000... and Uber, which turned $100 into $1.25 million over the past 7 years. But you don't have to miss out anymore!
The S&P was up +3.7% in February and +5.6% on the year. That's a pretty darn bullish way to start 2017. But on the last day of February the mantra was "Sell, Sell, Sell".
