What is it?
The technology sector was up more than 4% last week.* However, the Russell 2000 (a mix of 2000 small-cap stocks) was down over 3% at the same time.*
Why does it matter?
As of Friday, a broad basket of U.S. Stocks (RUT) was down by 30.2% since November of 2021.* But that doesn’t mean all of those stocks performed that poorly.
With our tactical approach, we see how not all stocks move the same. Depending on what’s going on some stocks even move opposite of each other. So while one aspect of the market may be down, we know there is opportunity elsewhere.
We added to our technology positions last week and the sector continued higher on Friday.
Other articles we found interesting this week:
Current 401(k) portfolio
Our last 401(k) portfolio reallocation: 8/14/2023.
Want more information?
The weekly market insight provides a window into the process we use in our investment management process. At Breakaway, we believe markets are always changing and require a nimble yet data-oriented approach.
Our process attempts to identify trends and momentum in the financial markets. With that information, we align our clients’ portfolio accordingly in the hope to help our clients accomplish their life goals while attempting to lower the risk of a large drop in their portfolio.
*Keith McCullough. “November 13th – Top 3 Things”. Hedgeye. 11/13/23. https://app.hedgeye.com/feed_items/all?page=1&with_category=43-the-macro-show
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