Happy Monday everyone.
I took the day off yesterday in the spirit of summer. Xenia took Ellen and I to Forte Dei Marmi which is one of my favorite places on earth for food, weather, people watching and beauty. I shared some pictures on Twitter and Instagram.
Ellen and I missed our summer in Italy with friends last year and we are excited that our friend Xenia was able to host us again at Casetta outside Florence. So many of our friends have stayed with us. We were introduced to the place by Brad and Amy Feld in the summer of 2011 and have been coming back yearly since. Many of our friends have also booked separately because the place is 10 star.
Ok to the markets because it is Monday and I never miss Momentum Monday with Ivanhoff who is slumming from the beach in San Diego.
The Robinhood IPO is Thursday and I am very excited. I plan to be on Bloomberg on IPO day to discuss my feelings and thoughts. Of course, this IPO could mark a peak in ‘retail sentiment’ as did the Coinbase IPO for crypto. That said, the sentiment at the Coinbase IPO was rather frothy and the love for Coinbase high from institutions and media. For Robinhood, Barron’s blared ‘Steer Clear’ this weekend and every smartass on Fintwit thinks that the stock is a short. I have no idea. Robinhood is definitely taking a big risk allowing retail such large access to the IPO as glitches are bound to occur and you can NEVER make the masses happy with an event like this.
As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.
Here is this weeks episode where Ivanhoff and I tour the global markets and point out the winners and losers and some new ideas that are breaking out. I hope you enjoy. I have embedded below as well:
Following the markets from Italy is easy in 2021. I have Stocktwits, Twitter, Robinhood and my iPhone. There are really no excuses for not being able to keep up. I am more productive to be honest as I get so much work done (and a daily long ride in the hills) before the market ever open…
The markets are dealing well with COVID and inflation fears and I believe the biggest event of the year is now China’s crackdown on its own companies. I have been caught as Tencent and Alibaba are in my 8 to 80 portfolio and I feel like an idiot. I have long felt that the big Chinese internet companies were too profitable to cheat. What I under risked is that the government of China is all about power. I assumed that Jqck Ma was too big to take down. Big mistake.
Anyways, this chart from Charlie says it all…
No worries FOR US investors as there are plenty of second and third tier US internet businesses to pile into (see $EBAY and social media stocks breakouts per this weeks video above). Will be interesting to see if these gains can hold and what stories we make up for the multiples!
Here are Ivanhoff’s quick thoughts:
The latest COVID-scare selloff lasted a hot minute. There was no panic selling. The market went through this before last year and had a playbook. Instead of blindly selling everything, it allocated money to stocks likely to benefit from the recent surge in COVID cases and restrictions around the world – vaccines (MRNA, BNTX, NVAX), tests (QDEL, HOLX, TMO), online retail (SHOP, AMZN, MELI, EBAY, CHWY, GLBE, ETSY), cybersecurity (ZS, CRWD, PANW, NET), fast food deliveries (DPZ, PZZA, MCD, WING), remote work (UPWK, FVRR, EXPI), software in general (TEAM, BILL, AVLR, MSFT), advertising and social media (SNAP, TWTR, PINS, FB, GOOGL, TTD, IPG, MGNI), Online payments (SQ, PYPL, V, MA, AAPL), home renovation (FND, HD), etc.
I start my investing week looking at the IBD 50 and the Stocktwits momentum 25 lists (you can get that weekly and free by subscribing here).
My podcast with FTX fonder and CEO Sam Bankman was one of my most listened too and with crypto running this weekend it might make sense to listen if you have not yet.
Finally, Nikita wraps up the week in SPAC’s. It has been a brutal few months for SPAC’s as supply swamps demand. With money flowing to big cap technology and working the risk on crowd has stayed away. The deals have to get better.
Have a great week everyone.
Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. For full disclosures, click here.