Day 8: MLH is up-Market should have been down
Today was a pretty exciting day in the markets withe DOW finishing up +60.40 points. The best part of the trading day was we didn't see a 500 point crash! Yeah go figure, Janet Yellen reiterated today that interest rates are likely to increase again if the economy continues to heat up. If this had been said 12-18 months ago the market would have tanked, 300-500 points easy. Today, we got a big boost across most sectors and treasury yields fell as more bond buying continued.
The portfolio closed the day UP with a gain of +0.53% for $2,634.67, producing an overall portfolio gain +$779.45 (+0.21%). Currently we have 37 companies in the green and 37 still in the red. The number of advancing stocks is improving each day. No new investments have been made. To date, Dynavax Technologies is our biggest gainer, up +7.17%, replacing TEVA Pharmaceuticals as the portfolio leader. Dynavax Technologies is a Berkeley, CA based clinical-stage bio-pharmaceutical company, discovers and develops novel vaccines and therapeutics. Its development programs focuses on vaccine adjuvants, cancer immunotherapy, and autoimmune and inflammatory diseases.
Top 5 investments to date by performance:
Dynavax Technologies (DVAX) +7.17%
Greene County Bancorp (GCBC) +7.09%
Kingstone Companies Inc. (KINS) +6.23%
Mylan NV (MYL) +5.59%
Mid Penn Bancorp (MPB) +4.64%