Discount The Obvious

I hope you had a great week, here's a quick recap of last week's plan: Equities had a good week with no major economic data. The S&P 500 closed +1.9%, and the Nasdaq 100 1.5%. In other words, tech underperformed the general market, and that was even more pronounced in small caps. The IPO index finished down -0.7%, and Ark -5.6%. Given that small caps have … [Read more...] about Weekly Update – May 10th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities reversed after Powell's dovish press conference on Thursday, and equities finished green. The S&P 500 closed +0.6%, and the Nasdaq 100 1.0%. More importantly, the Nasdaq likely had a follow-through day on Friday, which I have been waiting for since this drawdown. Notice how it also … [Read more...] about Weekly Update – May 3rd, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities had decent rallies, and I started opening positions. The S&P 500 closed +2.7%, and the Nasdaq 100 4.0%. With that being said, we have not seen the "strong institutional buying" I was hoping for last week. This would be reflected by >90% of shares trading positive, or back to back >80% … [Read more...] about Weekly Update – April 26th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities had a very rough week. The S&P 500 closed -3.1%, and the Nasdaq 100 -5.4%. But notice how more stocks have been advancing over this drawdown (lower arrow). This means that while large cap companies like Microsoft are getting creamed, most stocks are actually going up over the same … [Read more...] about Weekly Update – April 19th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities finished the week down. The S&P 500 closed -1.6%, and the Nasdaq 100 -0.6%. I mentioned that equities closed the week below the channel we have been tracking all year, and it held this week. CPI was red hot on Wednesday, and markets nosedived as a result. The real selloff happened … [Read more...] about Weekly Update – April 12th, 2024