The narrative over the last few weeks has been that the defeat of inflation will allow The Fed to cut rates in September has resulted in a rotation out of Mega-Cap Tech (QQQ) and into Small Caps (IWM) which will…
The S&P surged 64 points (1.26%) on Friday to 5,128 – right up to its 50 DMA (5,130). The 50 DMA continues to serve as resistance and the S&P continues to trade in a range (4950 – 5250) defined by…
If you would have given me Apple’s (AAPL) earnings report before it came out, I would have told you that the stock would be down – possibly by a lot. Because it was decidedly mediocre. And yet it’s +6% in…
Obviously the most important event on tap Thursday is Apple (AAPL) earnings after the close. While the stock is off more than 10% YTD, it is still quite overvalued given the lack of growth IMO. In his piece on AAPL…
As I suggested late afternoon last Thursday, the most likely scenario was for the S&P to gap up to near its 50 DMA in the wake of strong Google (GOOG) and Microsoft (MSFT) earnings and then trade sideways for the…
The bulls are winning the fight. A correction is three to six months [away]. There’s so much fear of missing out – Adam Parker, Trivariate Research, quoted in Barron’s The Trader column 3/23 [SUBSCRIPTION REQUIRED] There’s really no way around…
Fed Chair Jerome Powell was significantly more hawkish than expected in his post Fed Statement press conference Wednesday resulting in a selloff in stocks. Powell said he didn’t think a March rate cut was likely pushing up the odds of…
At the end of his long life, Charlie Munger expressed doubts about the future of value investing: I think that the modern investors, to get ahead, almost has to get in a few stocks that are way above average. They…
Friday was an interesting day in which smaller stocks outperformed mega cap tech – the opposite of what’s happened so far this year. The Russell 2000 (IWM) was +2.92% while the Nasdaq 100 (QQQ) was up only 0.29%. IWM broke…
Stocks ripped higher last week – with the S&P and NASDAQ each gaining about 6% – after the Fed meeting Wednesday as investors concluded that the Fed is done hiking rates for this cycle. You can see this in the…