Jason also had this to say:
Weirdest ever: I've watched nearly every tick in markets for 25 years. I've posted over 10,000 notes. And this might be the weirdest market I've ever seen. Once again on Wednesday, major indexes like the S&P 500 soared while the average stock fell. We've been noting these oddities for weeks, and they haven't mattered, at least for the S&P index that everyone watches.
What Jason is describing is breadth. Only 59% of S&P 500 members are trading higher than the 200 day moving averages. That’s an unusually low number with the S&P 500 at a record high. The only comparable period was in late 1999 and early 2000, before the burst of the Internet bubble.
We try to avoid making excuses and we take responsibility for making bad calls. While our track record remains good, most of us have not had a good month. The euro trade did a lot of damage to our bank accounts and our emotional accounts. The euro trade went to the July track record because we entered it in July. It was recorded on July's track record on the front page of the website. Here is where the August trades stand at the moment: