SPEAKER_00 0:00

Welcome to the Fletcher Friday Report. Today is Friday, June 26, 2026. Fletcher is an investment algorithm I created with simple monthly signals of buy, hold, and sell. Today we'll look at Fletcher's performance and talk a little bit about past signals, wins, losses, and what to expect going forward. Let's also look at Micron today with all the news this week. Alrighty, let's go. Last week was a short week with the markets, closed on Friday. We started the week on a down note that turned positive midweek with the news from Micron, symbol MU. More on that in a moment. For Fletcher, there's no signals this week. Those will come next week on July 1st. What about the market this week? My general sentiment is that I'm just sticking to the plan. That's why I created it. To have a plan and not be so emotional. And I'll be honest, I'm not watching the general market closely. In fact, I was surprised recently when the Nasdaq was down, but my portfolio was actually up. And I'm heavily in tech, so that was unusual. Fletcher has been helping me be a bit more focused and less distracted by the things that end up not really mattering or impacting my portfolio. A lot of those things come with the evening news or with the uh YouTubers that I end up watching. But that being said, let's look at some actual numbers from the week for Fletcher. Fletcher is actually down 10% for the week. It was a bit of a ride up and down today. Friday was another relax in the market. Yesterday was so hot. The SP was down 2% this week. When we look at month to date, Fletcher is up 11%. The SP is down 4%. Year to date is where I really like to put my attention, even though that's quite not as long as I like to look at. But for the last six months almost, Fletcher is at 202%, and the SP is at 7%. Let's take a moment to talk about what I mentioned earlier, Micron. Seems like everybody was impressed by the earnings report midweek, and the market reacted amazingly. Fletcher actually signaled MU, which is Micron, as a buy in December, January, and February. Then in March, it signaled as a sell. I'd say that Fletcher basically got this wrong based on what it replaced Micron with, but that's the nature with Fletcher. It gets some things right, some things wrong. But two out of three of the signals that Fletcher sends end up being in the positive. And I'd like to take a moment to make a point about Fletcher. Like I said, it doesn't get everything right. I was having a conversation recently about Fletcher and some of the picks that have been duds, one out of three, basically. Fortunately, the two out of three winners outperform the losers over the long haul. So then the question is, what is the long haul? We certainly see good returns over some weeks, most months and even years. But the true test for Fletcher is probably a 18 to 24 month cycle, and that's based on backtesting. I've got a good chart to show that if you go to FletcherInvestor.com. But overall, Fletcher does not get things right every time. I want to answer a couple of questions that have come up. One kind of related to what we're talking about is what's the worst drawdown? And Fletcher does experience meaningful drawdowns that, you know, just as any other equity strategy does, it's built to recover over time, however. And there's validity in everything, right? In backtesting, the worst year was 2019. And in that year, Fletcher was up only 3%. And the SP actually beat Fletcher that year. The worst 60-day window was February to March of 2020. So obviously that's when shutdowns happened due to the pandemic. And Fletcher was down 33% over that timeframe. But here's the interesting side note 2020 as a whole ended at 102% gain for Fletcher. And that's again based on backtesting. So another question is what kind of stocks does Fletcher signal? Fletcher only signals publicly traded U.S.-based companies. And these are major companies on the major exchanges, $20 billion plus market value, strong liquidity, positive earnings, basically not Wendy's, not GameStop, not AMC, like you may have seen in some of the meme stocks, particularly Wendy's lately, right? You would recognize stocks that have come up during backtesting: NVIDIA, Robinhood, Moderna, Dow Chemical, Super Microcomputer, App Loving. Even with that, you can see that Fletcher is industry agnostic because we have tech, finance, pharma, software, chemical, all those are represented there in backtesting. That'll do it for this week. Thank you for listening today. Please reach out with any questions you may have. To learn more about the Fletcher algorithm, go to Fletcherinvestor.com. Have a great week, and let's connect again next Friday.