Ivanhoff and I did our weekly show and you can watch/listen right here.
A roundup in case you do not want to take the time…
Software continues to be sold and the rotation into ‘value’ continues. The purest of software assets – Bitcoin is technically weak and stressing a lot of bulls.
The Koyfin team put together a great dashboard for software/cloud stocks so you can follow and try to get a feel for the sector. Click here to follow it.
The question to be answered is will the big money continue to sell software stocks on rallies and rotate into other areas of the market. Right now it does feel that way.
Software stocks continue to have extremely high valuations and sentiment towards them has been changing as the big IPO’s of $UBER, $LYFT, $WORK and of course WeWork have floundered and failed.
Not all software stocks are the same so if the selling continues, the new leaders will start to stand out.
Housing stocks, Verizon and select technology and biotech are standing out on the momentum list.
The lesson (at least in Verizon’s case) is bad customer service and delayed roll out of new 5G services is cool if you have mega profits and a 4 percent dividend. Go team go.
The markets are holding well as money moves into value like Verizon, JP Morgan, Walmart and Apple. Don’t shoot the messenger…do adjust your expectations.