|Day Low/High||135.02 / 139.85|
|52 Wk Low/High||53.15 / 139.67|
Strong rotational action has been driving sectors of the market as the grossly overbought big-cap technology names have corrected.
Are equity markets oversold? Sorry to say, but I don't think so. Not yet.
The week saw some of the best rotational action out of leadership names that I can ever recall seeing.
* While the correction is only in its second week, the evidence suggests the growing possibility of a Nasdaq top and a break down in the Nasdaq Fueled by a revolutionary but evolving change in market structure - in which ETFs/quant strategies and pr...
Plus, the chart of Novocure Limited is a real attention-grabber while the chart of Apple bears watching.
Investors are not dumping the FATMAAN names and running for safety -- they are looking to put those funds back to work in other places.
What happens after this is likely a flurry of deals that will require more selling and that begins to cut into the tech stocks with much lower valuations like Facebook, Apple and Alphabet.
The recent market leaders appear to be running out of steam, while stalwart stocks are grinding higher, with Verizon notable among them.
The FOMC, and Powell himself, will have to address the central bank's plan to target average consumer level inflation over time.
The two cheapest Apple One bundles appear tailor-made for Apple Music subs who also like Apple TV+ and/or Arcade.
Electoral risk remains the monster under the bed, and it only grows as our legislators intentionally choose the blame game over honest cooperation.
As is so often the case, the bears are unable to close the deal when it looks like they have an edge.
I'm betting the QQQ is going to end the week on the wrong side of $270.
"I am going to write a good Diary on Real Money Pro today... and I am going to help people. Because I am good enough, I am smart enough and doggone it, people like me." -- Daily Affirmations with Dougie Kass Today's Affirmations is about stock split...
Also, several scheduled events this week, election risk, earnings to watch.
Somehow I think investors thought splits actually create value. That's just nuts.
The power and beauty of the stock market is that there are new opportunities every day.
Last week's (a week ago Monday) Trade of the Week -- Apple (short at $128) -- continues to trade poorly. While I am not currently short I do endorse the short thesis and plan to short any strength.
The disconnect between big-cap tech stocks and secondary names is as severe as I've ever seen.
The big bounce on Wednesday was largely reversed, but all the indexes managed to stay above the lows they hit on Tuesday.
Apple low of day. Was +$3 and now basically flat. This is what I want to see as I short on the ramp. I want to see more...
* My revised levels I don't want there to be any ambiguity about the size of my positions or about my buy and short levels as I strive for as much transparency as possible. "When the time comes to buy, you won't want to." -- Walter Deemer "When the ...
Plus, Kansas City Southern rejects a reported takeover overture.
Giant money managers give sweeping views of investing in "the market" while the small investor is looking for great individual stocks.
First, let's closely watch this semiconductor company for the telecoms, and then examine the industrials, transports and retailers.
This diversification strategy lets you to capture stock market upside, while not risking your shirt.
Corrections occur at various points to remedy valuation excesses and that's what we are seeing now.
Here's what we learned from the March's fall -- and how to use that lesson going forward.
The market was narrow on the way up and the intensity of selling is narrow on the way down, which provides opportunity for stock-pickers.
We must see equity markets, the Nasdaq Composite and Nasdaq 100 in particular, fight back this week to keep on believing in this market.