The SPY gained less than 1%, while the IWM shed almost 1% and the NASDAQ gained nearly 8%. It was a month filled with large cap tech breakouts, reminiscent of a time and place when homos led Wall Street. But all of that is over now and with it comes June. We’re already off to a miserable start with downside action to be rued in AI, CRM and OKTA.
My trading account gained 1.74% for May, while the quant was down 1.9%.
At the mid-point of the year, the quant is up around 1% and my trading is +32%.
But June wasn’t all shits and giggles. If not for the semis, the results would have been far different.
Auto Parts -13%
Discount stores -16%
Chinese burritos -12%
Industrial Metal -9%
On the whole, basic materials were DOWN 6%, consumer goods -5%, Utes -5% etc. According to Stocklabs, ALL stocks were down in the magnitude of 3% for June, so not exactly the banner month the major indices pointed to.If you enjoy the content at iBankCoin, please follow us on Twitter