It’s been an up-and-down few weeks for the stock market, but local financial advisor Howie Pentony says that overall performance is still very solid.
The market went down last week around 1.7 percent last week, and everyone thought that it was the beginning of a correction and downward trends in the market,” Pentony said. “Well the next day it rallied to record highs.”
Pentony says that the S&P alone is up 17 percent this year, but he has noticed a trend developing over the past few weeks that he finds interesting.
“We went through a period there were not all the stocks were going up or down, it was just a few before all of them participated,” Pentony said. “Now, we’re back to where there are six or eight stocks leading the way. And my thought is, ‘I don’t care,’ as long as it goes up, I’m okay.”
In fact the S&P continued gains yesterday, finishing up five points.
Howie Pentony is the president of Pentony Capital Management in Portersville.