The Friday Fletcher Report: June 26, 2026
Welcome back to the Fletcher Friday Report! Today is June 26th, 2026. Fletcher is an investment algorithm I built around simple monthly signals — buy, hold, and sell. This week we're checking in on performance, revisiting some past signals including a notable one on Micron, and being honest about the wins and the losses. Let's get into it.
A Quick Look at the Week
Last week was a shortened one with the markets closed on Friday. This week opened on a down note but flipped positive midweek thanks largely to some big Micron news (more on that shortly). No new Fletcher signals this week — those are coming on July 1st.
As for my overall market approach: I'm sticking to the plan. That's literally why I built Fletcher — to have something to follow so I'm not making decisions based on emotion. Honestly, I've been tuning out the general market more than usual lately. I actually caught myself surprised when the Nasdaq dipped but my portfolio was still up — notable since I'm pretty heavily concentrated in tech. Fletcher has been a good filter for that noise, keeping me from getting too caught up in whatever the evening news or a YouTube finance channel is spinning up.
The Numbers
- This week: Fletcher -10%, S&P -2%
- Month to date: Fletcher +11%, S&P -4%
- Year to date: Fletcher +202%, S&P +7%
Friday was another slow, cooling-off kind of day after Thursday was red hot. The weekly pullback stings a little, but the month-to-date and year-to-date numbers tell the fuller story. Just under six months in and Fletcher is sitting at 202%. That's where I want to keep my focus.
Let's Talk Micron (MU)
Micron's earnings report midweek sent the market into a bit of a frenzy, and rightfully so — the reaction was impressive. Here's where it gets interesting from a Fletcher perspective: Fletcher actually signaled MU as a buy back in December, January, and February. Then in March, it flipped to a sell.
I'll be straightforward — Fletcher basically got that one wrong, at least in terms of what it swapped Micron out for. But that's part of the deal with Fletcher. It doesn't bat a thousand. Roughly two out of every three signals end up positive, which means one in three is going to miss. The good news is that the winners tend to outperform the losers by enough that the overall math still works in Fletcher's favor over time.
That brings up a fair question: what does "over time" actually mean? I'd say the real proving ground for Fletcher is an 18 to 24 month window — that's what the backtesting points to. I've got a chart on the site if you want to dig into it.
Reader Questions
"What's the worst drawdown Fletcher has had?"
Fletcher does experience real drawdowns — no equity strategy is immune. But it's designed to recover. Looking at the backtesting data, the worst full year was 2019, when Fletcher eked out just 3% — and the S&P actually beat it that year. The roughest short-term window was February through March of 2020, right when pandemic shutdowns hit. Fletcher was down 33% over those 60 days. But here's the kicker: 2020 as a whole closed out at a 102% gain for Fletcher. Perspective matters.
"What kinds of stocks does Fletcher actually signal?"
Only publicly traded, U.S.-based companies — major names on major exchanges, with $20 billion-plus in market cap, strong liquidity, and positive earnings. Think blue chips and high-growth names, not meme stocks. No Wendy's, no GameStop, no AMC. Past backtesting signals include names like NVIDIA, Robinhood, Moderna, Dow Chemical, Super Microcomputer, and AppLoving — which also shows just how industry-agnostic Fletcher is. Tech, finance, pharma, software, chemicals — it'll go wherever the signals point.
That's a wrap for this week. Thanks for reading along, and please reach out with any questions. To learn more about how Fletcher works, visit FletcherInvestor.com.
Have a great week — see you next Friday.