Market Summary
April 2015

In what is traditionally known as a strong time of year for stocks, the last 4 months have gone like this:

December - negative
January - negative
February - positive
March - negative

In last month's letter, I wrote that we expected March to begin with a pullback off of February's highs, followed by another push higher. I was ⅔'s correct.

March did begin with a pullback that lasted a couple weeks, followed by an upward run back up to test February's highs. However, the markets could not break through upward resistance, and ended up faltering, pushing lower - with the Dow falling into negative territory for the year.

We mentioned falling oil and a strong dollar as two reasons markets have been volatile and unable to push ahead last month. Let me throw in one more curveball: Greece.
Our Management Philosophy

Limit downside risk and provide clients a reasonable rate of return over a market cycle.


With over five decades of combined money management experience in South Texas, you can be sure that Walter and Anthony Reyna have seen it all. This father-son pair built and developed Walter J. Reyna Inc. on the importance of hard work and strategic planning and continue to implement these core values in their business today.


The Reynas believe that wealth accumulation and protection are the result of exceptional planning, not luck. Visit our website to learn more.


Walter J. Reyna, Inc.
5315 North McColl Road
McAllen, Texas 78504 

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Market Summary Continued

Yes, good ol' Greece is once again in the news, as their government has still found no viable plan to present to the EU as to how they are going to manage their debt obligations. It is becoming clearer that a default and exit from the EU is likely, seeing as how the EU and IMF are saying they are tired of continually lending money to them without Greece holding up their end of the bargain. No more money means defaulting on pensions, salaries for government employees etc.

This has caused a stir amongst the world's markets, and volatility has been ramping up.

April is considered to be one of the year's strongest months. With earnings season starting, we will get a clearer picture on how the dollar is affecting companies' bottom lines. And even with a pickup in volatility over the last month, it has not been enough to stop out of our equity holding. Therefore, for us, there are no changes to the portfolio at this time.

Visit our website to learn more.


For more information about your portfolio performance, please refer to your personalized statements or contact us. Regulatory restrictions prevent us from reporting personalized performance data in this newsletter. See below for important disclosures. 

Portfolio Insights
(1)The S&P 500 Index is representative of domestic markets and includes the average performance of 500 widely held common stocks.  Individuals cannot invest directly in any index and unlike investments; the S&P 500 Index does not incur management fees, charges, or expenses. (2) All Statistical information, investment category determinations, and economic data retrieved from Past performance is no guarantee of future results and all investment strategies involve the risk of financial loss. 


This publication is proprietary and limited to the sole use of Walter J. Reyna, Inc. clients.  Client portfolios are designed for the moderate investor but are actively managed on a monthly basis and may not follow traditional risk adjusted asset allocation models. Walter J. Reyna, Inc. maintains full discretion over said accounts and manages as deemed necessary. Clients with questions about the fees associated with their discretionary advisory account should refer to their advisory agreement. The information contained herein is for illustration purposes only. It is not necessarily complete, does not include client directed investments, and its accuracy is not guaranteed by Walter J. Reyna, Inc.  All clients should reference their periodic statements for accuracy. All clients needing additional information about holdings in the portfolio, including the objectives, risks, asset class and costs associated should refer to their respective prospectus. If you have received this communication in error, please notify us immediately by e-mail or telephone.  Neither the information, nor any opinion expressed constitutes a solicitation nor investment advice, for the purchase of any future security referred to in the Advisory Newsletter.  Investments offered through Registered Representatives of Lincoln Financial  Securities Corporation, member SIPC.  Lincoln Financial Securities Corporation and Walter J. Reyna, Inc. are not affiliated.