This chart and tweet says it all, but as they say in Hollywood, the show (Momentum Monday) must go on:
The China deal Phase 1 is signed but tariffs still remain.
The semiconductor stocks continue to lead but the 25 percent tariffs remain are in the system causing just as much confusion and aggravation as before the Phase 1 signing for people in the industry.
It seems like everyone is waiting for a ‘pullback’ and so it never comes.
I know I have been selling my Apple too soon and now have stopped. I am not sure why Google is ripping higher 2-3 percent a day of late, but am enjoying it (I am long).
As always on Monday, Ivanhoff and I take a tour around the markets looking at and for momentum. You can watch or listen to the show right here.
Ivanhoff and the rest of the technicians are taking about the breakout that is finally happening in small cap stocks, but it is really the large cap stocks that continue to lead. Ivanhoff looks at the heavily shorted stocks and we take a deeper look at Amazon lagging and why that may be happening and also marijuana stocks.
There are 154 large cap stocks on the all-time high Llst right now. Here are the names. I follow this list every day and this is a really big number.
The market is trying to do it’s job behaviorally of getting everyone in, but in 2020 the participation rate in equities is low and most people in the market own the same stocks (have you heard of Vanguard).
I long gave up trying to time the market but will stick to my plan and comfort zone as much as possible.
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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.