Nice chart bee!

@mona, @johnchisum it is better to follow trends such as
How technology hurts health providers
for investing purposes than be distracted by political ideology colored data (on either side of spectrum).
The changes mentioned in that article above are real and powerful and much more relevant in the market place. I already see significant advertising locally here for clinics inside CVS.
The release of payment data from Medicare payments is significantly going to change how providers and drugs see the money because of public backlash on the use of Medicare funds - a bad sign for biotechs with high priced drugs that were flying under the radar until now and making large profits.

The 1979 AMA lawsuit which let AMA hide Medicare payments to protect doctors "privacy" was just outrageous. Thanks to the WSJ reporters and lawyers for pressing a lawsuit for public release that caused a sane judge to throw out overly broad ruling. Unfortunately, most of the WSJ comments are from far-right wing nuts who believe that taxpayers are just jealous of the hard-working 1%. I'm so glad I cancelled my sub years ago. AMA already put out statement that people are taking figures out of context. Hiding data for last 35 years is not bad enough, now they are calling us stupid. Yeah, none of us can understand causal probability, correlation theory.
I don't think the $80,000 Hep C 12 week treatment was out of sight, there were Congressional hearing. The pill treatment has generally far fewer harsh side effects, so
it is definitely worth it, well as long as someone else pays for it. Otherwise, could try injections and see how bad they are.

Amazing run these folks have had...

With $15B in AUM, no wonder...with load no less (although I see Schwab offers it NLNF).

http://www.sec.gov/Archives/edgar/data/923202/000093247114005237/tmgrowthandincomemergersupp.htm
497 1 tmgrowthandincomemergersupp.htm TMGROWTHANDINCSTICKER
Vanguard Tax-Managed Growth and Income Fund
Supplement to the Prospectus and Summary Prospectus
Reorganization of Vanguard Tax-Managed Growth and Income Fund Into Vanguard 500 Index Fund
The board of trustees of Vanguard Tax-Managed Funds® (the Trust) has approved an agreement and plan of reorganization (the Agreement) to reorganize Vanguard Tax-Managed Growth and Income Fund, a series of the Trust, into Vanguard 500 Index Fund, a series of Vanguard Index Funds.
The reorganization will consolidate the assets of the Funds in order to simplify the Vanguard fund lineup, and it will allow Tax-Managed Growth and Income Fund shareholders to merge into a larger fund that has a lower expense ratio and utilizes the same benchmark index. It is anticipated that the reorganization will allow the combined Fund to benefit by eliminating duplicative expenses and spreading fixed costs over a larger asset base.
The reorganization does not require shareholder approval, and the closing of the reorganization is expected to occur on or about May 16, 2014. Prior to the closing, a combined information statement/prospectus will be issued to shareholders of the Tax-Managed Growth and Income Fund. The combined information statement/prospectus will describe the reorganization, provide a description of the 500 Index Fund, and include a comparison of the Funds.
Under the Agreement, shareholders of the Tax-Managed Growth and Income Fund after the closing will receive Admiral™ Shares of the 500 Index Fund in exchange for their Admiral Shares or Institutional Shares of the Tax-Managed Growth and Income Fund, which will cease operations. Admiral Shares of the 500 Index Fund have a lower expense ratio than both Admiral Shares and Institutional Shares of the Tax-Managed Growth and Income Fund.
It is anticipated that the reorganization will qualify as a tax-free reorganization under the Internal Revenue Code of 1986, as amended.
(over, please)
--------------------------------------------------------------------------------
Closed to New Accounts
Effective immediately, the Tax-Managed Growth and Income Fund is closed to new accounts, and it will stop accepting purchase requests from existing accounts shortly before the reorganization is scheduled to occur.
© 2013 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor. PS 103 102013
--------------------------------------------------------------------------------
Vanguard Tax-Managed Funds®
Supplement to the Statement of Additional Information
Reorganization of Vanguard Tax-Managed Growth and Income Fund Into Vanguard 500 Index Fund
The board of trustees of Vanguard Tax-Managed Funds (the Trust) has approved an agreement and plan of reorganization (the Agreement) to reorganize Vanguard Tax-Managed Growth and Income Fund, a series of the Trust, into Vanguard 500 Index Fund, a series of Vanguard Index Funds.
The reorganization will consolidate the assets of the Funds in order to simplify the Vanguard fund lineup, and it will allow Tax-Managed Growth and Income Fund shareholders to merge into a larger fund that has a lower expense ratio and utilizes the same benchmark index. It is anticipated that the reorganization will allow the combined Fund to benefit by eliminating duplicative expenses and spreading fixed costs over a larger asset base.
The reorganization does not require shareholder approval, and the closing of the reorganization is expected to occur on or about May 16, 2014. Prior to the closing, a combined information statement/prospectus will be issued to shareholders of the Tax-Managed Growth and Income Fund. The combined information statement/prospectus will describe the reorganization, provide a description of the 500 Index Fund, and include a comparison of the Funds.
Under the Agreement, shareholders of the Tax-Managed Growth and Income Fund after the closing will receive Admiral™ Shares of the 500 Index Fund in exchange for their Admiral Shares or Institutional Shares of the Tax-Managed Growth and Income Fund, which will cease operations. Admiral Shares of the 500 Index Fund have a lower expense ratio than both Admiral Shares and Institutional Shares of the Tax-Managed Growth and Income Fund.
It is anticipated that the reorganization will qualify as a tax-free reorganization under the Internal Revenue Code of 1986, as amended.
Closed to New Accounts
Effective immediately, the Tax-Managed Growth and Income Fund is closed to new accounts, and it will stop accepting purchase requests from existing accounts shortly before the reorganization is scheduled to occur.
© 2013 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor. SAI 103A 102013

http://www.sec.gov/Archives/edgar/data/906352/000093041314001721/c77145_497.htm
497 1 c77145_497.htm
FIRST EAGLE FUNDS
First Eagle Overseas Fund
1345 Avenue of the Americas
New York, New York 10105
(800) 334-2143
SUPPLEMENT DATED APRIL 10, 2014
TO PROSPECTUS DATED MARCH 1, 2014
First Eagle Overseas Fund Closing to New Investors
Effective at the close of business on Friday, May 9, 2014, the First Eagle Overseas Fund (the “Fund”) will be closed to new investors, subject to the following limited exceptions:
• Existing shareholders in the Fund can continue to purchase shares of the Fund. An existing shareholder also may open and fund the following types of new accounts: (a) accounts opened with distributions or roll-overs from individual retirement accounts, 401(k) plans or other employer sponsored retirement plans invested in the Fund; (b) accounts opened in a different share class of the Fund; and (c) accounts opened by way of share transfer from an existing account, provided the new account will be for the benefit of an immediate family member of the beneficial owner of the existing account, or has the same taxpayer identification number or primary mailing address as the existing account or is considered a “charitable foundation” related to the beneficial owner of the existing account for purposes of the Internal Revenue Code.
•Existing shareholders in broker-dealer brokerage and wrap-fee programs can continue to purchase shares and exchange into the Fund. Existing broker-dealer brokerage and wrap-fee programs can add new participants. The Fund will not be available to new broker-dealer wrap-fee platforms.
•The Fund continues to offer its shares through certain retirement plans that were invested in the Fund (at the plan level) prior to the Fund’s close.
•Existing registered investment advisers (RIA) that have an investment allocation to the Fund in a fee-based, wrap or advisory account can continue to add new clients, purchase shares, and exchange into the
--------------------------------------------------------------------------------
Fund. This exception is also available to accounts opened on certain mutual fund sales platforms designed to facilitate investments on behalf of investment adviser clients. The Fund will not be available to investment advisers, whether investing through a platform or otherwise, that are not already invested in the Fund on behalf of their clients.
• Accounts benefiting employees, officers, directors and trustees of the First Eagle Funds, the investment adviser or the investment adviser’s affiliates and their immediate family members can continue to purchase shares and exchange into the Fund.
• In the discretion of the Distributor, clients of select investment consultants having existing relationships with the Fund or the Fund’s investment adviser will be authorized to purchase shares and exchange into the Fund.
Subject to these exceptions, no new accounts in the Fund will be opened by way of exchange, transfer or purchase, unless the Distributor otherwise determines and documents in limited and exceptional circumstances that the investment would not adversely affect the Adviser’s ability to manage the Fund effectively. Prospective purchasers may be asked to verify that one of these exceptions is available prior to opening a new account in the Fund. The Fund also may decline to open a new account even if the account is otherwise eligible for an exception to the close.
The ability either to permit or decline purchases (or in some cases to limit purchases) in accord with the exceptions set out above relating to accounts held by intermediaries may vary depending upon system capabilities, applicable contractual and legal restrictions and cooperation of those intermediaries.
These terms may be modified in the discretion of the Board of Trustees.
* * * *
The information in this Supplement modifies the First Eagle Funds Prospectus dated March 1, 2014. In particular, and without limitation, the information contained in this Supplement modifies (and if inconsistent, replaces) information contained in the sections of Prospectus entitled “About Your Investment,” “How to Purchase Shares” and “Exchanging Your Shares.”

Seems to me there are fewer managers who liquidate their portfolio.
I appreciate when a managers accumulates cash from successful investments and then deploys that cash where they identify value. I also appreciate a manager's ability to hold non-correlated assets that serve to cushion periodic short term market sell offs.
If I understand you correctly, you might find some success in holding a broad base market fund like VTSMX and follow its 200 dma average. Use the 200 dma as a trigger to either be in or out of the market and hold cash or bonds when you are out of the market. Holding something like EDV (Long Duration Bonds) when you are out of the market might be an alternative to cash.
Here's what the last ten years would have looked like...red dots are the sell / buy triggers.

FYI:
Regards,
Ted
http://www.cnbc.com/id/101573217

Consumer sentiment from U of Michigan is at "80" for March (on a scale from 0 -100)
sca.isr.umich.edu/
Article on consumer senitiment from Bloomberg siting U of Michigan number:
bloomberg.com/news/2014-03-28/michigan-sentiment-index-decreased-to-80-in-march-from-81-6.html
My take:
Does not seem to be a time to be neither fearful nor greedy:

This is my first time using this network of shared information. I am not selling anything. I am reasonably sophisticated when comes to Technical Analysis and Fundamental Analysis and Computer modeling and the influences of big braking news.
But I know I don't have nearly enough information or established strategies to do better. If no-load mutual funds can go to cash just before a major sharp full market decline, and back after it hits bottom, with no costs for the trades, what is the vulnerability? Is there a big time delay between issuing the sell to cash order and the actual completion of the mutual fund sales transaction? Best regards. Bob Magnuson n333@comcast,net 978-683-5651

At 1pm, Thursday.......near a reversal of some sector numbers from yesterday, April 9, Wednesday
That's it, nuth'in more to note...........
IWM 112.57 -2.33%
IYR 68.32 -0.32%
HYG 94.33 -0.13%
VWO 41.65 -0.22%
VMBS 52.03 0.28%
EMB 112.56 0.56%
ITOT 84.50 -1.43%
IBB 223.44 -4.95%
LQD 117.88 0.31%
IEF 102.38 0.44%

IBB is almost 5% down today...

FYI:
Regards,
Ted
http://www.latimes.com/business/la-fi-0406-investing-quarterly-20140406,0,5573041,print.story

@cman FBIOX is not offered on Morgan Stanley's fund platform. Expense ratios for C shares are generally higher than A, but the deferred load is on 1.00% instead of the 5.75% front load for A shares.
Regards,
Ted

FYI: My two healthcare fund, FBTCX up 3.92%, and PRHSX up 3.05% today.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2014/4/9/looking-for-action-most-volatile-stocks.html?printerFriendly=true
Today's Sector Performance: http://finviz.com/groups.ashx

I was able to access by creating a profile. I was sent a temporary username and password. The presentation (Guide to the Markets) is to be updated quarterly. Thanks for the fnd.
It seems possible to download one page at a time and then bookmark that page to your browser or then copy the hyperlink within a document file like word or excel.
Here's one of the slides:
https://jpmorganfunds.com/blobcontent/856/853/1159397329169_2Q14-GTM-V2-6.png

FYI:
Regards,
Ted
http://www.marketwatch.com/story/who-wins-when-activists-invest-not-you-2014-04-09/print?guid=7A5FC43A-BF50-11E3-B541-00212803FAD6

FYI:
Regards,
Ted
http://www.fa-mag.com/news/doubleline-launches-two-new-fixed-income-mutual-funds-17533.html?print
Flexible Income Fund: http://www.doublelinefunds.com/funds/flexible_income/overview.html
Low Duration Emerging Markets Fund: http://www.doublelinefunds.com/funds/low_duration_emerging_markets/overview.html

I like the pipelines, railroads and while I think energy is best played by a broader fund, I like the energy majors - Conocophillips, Chevron, etc - are mostly reasonable and provide nice dividends.
The Canadian plays (look at CNQ recently, which I own) are I think going to do VERY well if Keystone is approved. Those can be played via ENY.
I'll also note that ENY is at a 52 wk high.

There might be a good technical trade opportunity coming up for IBB to get in.
Set up stop (219) limit (225) buy and if that executes a stop sell at around 216 in case it breaks through the 200 SMA with a broad market decline. Upside 8% to 20%+. Downside 4-5%.
High potential for a low around 220.

@jlev: A thousands pardons !
Regards,
Tedhttp://www.cnbc.com/id/101565281