The S&P 500 was lower since our update last Monday. The portfolio is now 92% invested long, 0% short and 8% in cash, net long 92%. We are now at a value of 620.03% from 616.42% versus last week. We have adjusted the price of IBM to reflect our put hedge. The hedge was closed out Friday. We have added the price target from Ativo into the weekly update. All stocks are well below their price targets. ETFs do not have price targets.
Remember these returns are total returns with the average change for all winners and losers is 5.85% per idea. Our batting average of closed winners and losers is 65%. The portfolio is up 620.03% through last week from inception when it began at 0% in April of 2008.
The Russell 2000 is now ever so slightly lagging the S&P 500 on a daily basis.
The Madison Letter is a buy and the A/D line signal is back to cash after a successful buy signal.