The market’s back was almost broken on Wednesday as the DOW crater through 12,000, but miraculously bounced back and closed out the day higher. Funny stuff like that happens often during options expiration week. It will be interesting to see what happens if there is another test of 12,000 this week. For the week, the DOW, S&P 500 and NASDAQ were all down -1.3%, -1.1% and -0.7% respectively.
The commodity patch was a mixed bag. Base metals continues to be the best place to be – led by Copper’s +8.2% gain. Precious Metals were led by Silver +1.9%. Gold was basically flat at +0.3%. Oil continues to be a laggard falling -7.0% for the week.
So, how did the portfolios perform?
The Fab 4 and BBO have been battling all year for top dog status. However, Hud Bay Minerals (HBM.TO) has been in a funk for the last three weeks and it continued this week closing down -4.7%. BHP Billiton (BHP) was up +2.9%, but PetroBras (PBR)and Southern Cooper (PCU) were AWOL. For the week the Fab 4 was down -2.2%.
The BBO was down -0.1% for the week, but still much stronger than the S&P 500 -1.1%. For the year, it is up 4.8% and is currently top dog amongst the portfolios.
Added QID and CEF. Read here for details.
BRIC’s disappointment continues. For the week it was down another -2.3%. I have been scaling out of this basket all year due to its lack of performance. I currently am completely out. I have been working on an alternative. Read here for details.
Here are the rest of the regulars:
SOX – Semiconductor Index
CEF – Gold and Silver Bullion ETF
CRESY – Argentine Beef, Grain and Farmland
GDX – Gold Mining Stocks ETF
GLD – Gold Bullion Exchange Traded Fund (ETF)
PHO – Water Resources ETF
USO – Oil ETF
BBO (Big-Build Out) – basket of 12 stocks critical to the industrialization of BRIC
BRIC – basket of 4 country ETFs: Brazil, Russia, India and China
Real Money – actual trades from one of my portfolios
Refer to the following links for more information on above stocks and portfolios: