New record highs. The only problem with these records is the lack of actual traction in a very wide swath of the market. According to Exodus, the median gains for the past month is just a little bit more than 1%.
Semiconductors are higher by 18%. The banks are all higher by 5%. And apparel stores are higher by 4.5%–all over the past month.
Offsetting these gains are losses in gold -10%, internet service providers -7%, home healthcare -7% and telecom -5.5%.
The largest sector by market cap, Drugs-Major, are showing losses of 2.7% for the month. Major oil and gas, the second biggest sector by market cap, was higher by 2.8%.
The NASDAQ, as a whole, is up 1.5% over the past month and flat over the past two weeks.
Over the past 3 months, the NASDAQ is higher by 6.5%, while treasuries are higher by 8.5%.
QED
If you enjoy the content at iBankCoin, please follow us on Twitter
loved that scene.
Off Topic here, but Meb Faber just started Cambria Digital with 0 commish and 0 mgmt fee. Only fee is the 15bps that Betterment charges.
Mission Accomplished race to zero is here. In fact I believe his funds have no MER as he receives cash from securities lending.