Day 3: A Little Bounce
Another day down, 362 more to go. Today the portfolio was UP 0.28% for a GAIN of $1,372.61 which reduced our overall losses to date to -$1,422.83 (-0.38%).
The markets today were quiet again, DOW share volume was only slightly above average. Reading the closing market reports I see that "Banks" were to blame for the fractionally lower close on the Dow. After a while of these posts you'll see that there is a pattern, each day the analysts and pundits find something to blame for the down days and something to rally behind on the up days. Today we're blaming banks, just not the banks in this portfolio. So far we have 9 companies that are up over 1% to as much as 5.43% and 4 of them are regional banks.
Kingstone Companies Inc KINS +5.43%
LeMaitre Vascular Inc LMAT +4.84%
Mid Penn Bancorp, Inc. MPB +4.20%
Greene County Bancorp GCBC +3.83%
Bank of Marin Bancorp BMRC +2.61%
Pacific Premier Bancorp PPBI +2.31%
Norsat Intl. Inc NSAT +1.79%
Logitech Intl. SA LOGI +1.41%
Fox Factory Holding Corp FOXF +1.14%
After a massive run up with the anticipation of higher interest rates banks like Bank of America, Citigroup, Goldman Sachs, JP Morgan and Morgan Stanley were all down today; with the exception of JP Morgan they were all down more than 1%. Banks are still a wonderful investment for the next decade, we’re just seeing investors taking a much deserved breather and letting these companies catch up with their valuations.