|Day Low/High||262.24 / 294.00|
|52 Wk Low/High||208.55 / 319.00|
Further sideways or even slightly lower price action could be seen in the next few weeks.
We'll witness some action in Suro Capital, which has an ownership stake dating back to when Palantir was private.
In the past, investors were often too quick to sell off fast-growing upstarts due to competitive fears. But at current valuations, risks seem to be completely ignored.
The greedy are, at last, getting blown out, and the prudent being vindicated. I see three buckets of stocks that intrigue me now.
Current market behavior dredges up memories of over-loved and overvalued Brocade Communications.
When a speculative frenzy involving one set of companies ends, cheaper peers usually aren't unscathed in the ensuing selloff.
Plus, the chart of Novocure Limited is a real attention-grabber while the chart of Apple bears watching.
Copper and gold producer Freeport-McMoRan serves an example of a dull but cheap stock that is finding investor favor again.
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.
Companies have figured out that it might be both cheaper and safer to keep people at home. Sales have held up.
* I believe so! * Downside risks dwarf upside rewards at current prices * I have moved to between a medium-sized and large-sized net short exposure in the last two days * More evidence of a possible pivot from growth to value is being exhibited this...
At least part of the market's negative reaction to the Fed on Wednesday may be tied to two factors.
A little of everything was offered up on Wednesday, but still we lack clarity on where we might be heading.
The research firms today put something in context that seems almost impossible: we are having a boom in the goods side, not the service side.
We're seeing the potential start of an epic deluge of new stock from companies that are private and eager to cash out, and guess who will be the losers?
While those with a bearish bent often look for a 'sell the news' reaction to the Fed, that usually doesn't happen, but let's keep watch.
I would consider rotating some big tech gains into energy, that is if you have tech gains.
The units have split into shares and warrants, but the option contracts remain.
The FOMC, and Powell himself, will have to address the central bank's plan to target average consumer level inflation over time.