Hello everyone…welcome to a new week.
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Oh my …what a week for my momentum world of stocks and markets.
The markets celebrated the election. Pick your reasons as you and I have as much of an idea why as anyone.
This morning (after we made the weekly video), Pfizer announced the Phase 1 COVID vaccine was darn good!
So…this morning look for the COVID digital darlings like $ZM to come under pressure and what I have long called here the COVID land and air based stocks like mall operator Simon Properties $SPG and Boeing to explode higher.
Here is our Momentum Monday Video with some fresh ideas to consider and I will cover some of the discussion points below.
This week was a lesson in why timing the markets is a bad idea and being in the markets is a good idea.
The big winner from the election was cannabis.
Arizona, Montana, South Dakota and New Jersey all voted to get high.
My friend Todd Harrison who I have interviewed and shared a few times has been talking about this moment for a while. His favorite idea for us regular folks has been this new ETF called $MSOS which are the US multi state operators.
There are 25 states with legal medical markets and now 1 in 3 Americans live in a state where recreational marijuana is legal.
What else is working?…IPO’s are working and many big ones are coming down the pipes.
Something extra lighting a fire under stocks is now the weak US dollar.
Oh and by the way….JAPAN is at 29 year highs.
It may not be easy to own stocks, but it is deadly to be short them.
On the nervous side, I am amazed how we quickly went from a $VIX above 40 pre-election to a euphoric state this morning, but I won’t stand in the way of the money flow.
Have a great week.
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