We go through periods where good news is good news for the stock market. Then there are periods where bad news is good for the market (like economy looks bad so the Fed will help). However, I rarely recall a period where all news was good news. Even war drums all over the place, but apparently that’s our current market environment.
PUT beat the S&P 500 Total Return by a tad this past week while BXM and BXY trailed slightly. For those of us that pay attention to these strategy indexes we are well aware that underperformance comes about during bull market periods. With the S&P 500 return up 10% this year the performance of all three strategy indexes is just as would be expected. They are holding their own and over the course of a couple of weeks can easily close the performance gap for 2014.