Week in Review 9/14/07 – 0, 25 or 50 basis points?

The September 18th Fed meeting has been hyped more than the Super Bowl.
Is subprime slime leading the economy into a recession?  Can Bernanke and crew save the day with a rate cut?  0, 25 or 50 basis points?  This is definitely shaping up to be a sell the news type event.  I am beginning to prepare myself mentally for a 250 point down day.  The clear winner on Tuesday will be CNBC.   Their ratings will be off the charts around 2PM.

As the talking heads went on ad nauseam about the Fed meeting, the market marched higher.  For the week, the DOW, S&P 500 and NASDAQ were up 2.5%, 2.1% and 1.4% respectively.  The semiconductors were AWOL losing 1.4% for the week. They were weak all week and bit the dust on an Intel downgrade on Friday.

Oil stole the spotlight in the commodity patch by closing over $80 per barrel for the first time ever.  The talking heads tried to minimize the feat by stating that the inflation adjusted record is around $100 in today’s dollars. For the week, Oil closed up 1.8%.  Copper didn’t make the headlines, but outperformed Oil – closing up 4.3% for the week.  Gold (1.1%) and silver (-0.4%) were a mixed bag closing.  Gold stocks as represented by the XAU were up 4.3%.

The TTaMG portfolios rocked.

  • Fab 4       5.0%
  • BBO         4.0%
  • BRIC      5.3%
  • Real Money  0.5%
  • TBS        4.7%
  • MDs Ag Play  3.3%

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