Since inception, our overall timing return is 76.78% versus 44.71% on the S&P 500 for excess return of 32.06%.
Madison scores on the major indexes are in a wide range from -13 to -10. Stocks and indexes have fallen in the past week.
The range between the buy and sell points is now average. As an example, the S&P 500 range was 68 points at the low and is now 98 from 104 points a week ago. As volatility rises, this expands. Witness at the October low the range was 169 points.
Also, in tracking the range between the 2 year and 10 year is now 138 basis points. Short term rates are on the rise while long term have fallen. This needs to be watched. There are implications.
There are now two open positions, a buy on TRF and a buy on USO. 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. This column replaces the Morning Matters on Fridays.