The Madison Letter:
We are invested on our overall Market Call. Since inception, our overall timing return is 71.49% versus 40.39% on the S&P 500 for excess return of 31.10%.
Madison scores on the major indexes are now mostly between +18 and +8. With a gap open this morning, we are getting overbought and setting up for a potential pullback. We need confirmation.
There is now one open position, a buy on TRF. We added a buy on iShares Core S&P 500 Index Fund ETF (IVV) and took gains on Tuesday 9/2. Recent open and closed ideas are now in the second table. New sells will be forthcoming as we find a near term top.
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. We were left with one long position TRF from our original buys before launching with Uncommon Widsom Daily. This column replaces the Morning Matters on Fridays.
Year to Date performance of the Madison Letter:
We have moved to a new format highlighting all trades since inception. This will provide complete disclosure of all winning and losing trades. To visit go to the home page of www.themadisonletter.com.
Aggressive Trader Comments
We continue the uptrend phase with an positive bias. Sell the rips and buy the dips until the current bull ends.