Since inception, our overall timing return is 81.29% versus 48.41% on the S&P 500 for excess return of 32.88%.
Madison scores on the major indexes are in a range of -8 to +6. Stocks and indexes have moved higher, albeit a small move, since our last update.
The range between the buy and sell points is now average. As an example, the S&P 500 range was 54 points at the low and is now at 104 points which is rising but lower from a week ago at 110. As volatility rises, this expands. Witness at the October low the range was 169 points. Currently, volatility has begun to expand again.
Also, in tracking the range between the 2 year and 10 year moves from 157 basis points to 152. Short term rates are on the rise while long term have fallen in the last week. This needs to be watched. There are implications.
We began to offer a buy and sell strategy via our Madison Market Timing Indicator at the beginning of April of 2007. There are now 24 open and closed winning trades to 8 closed losing trades with our market timing results.