Markets that only go up die with supply.
Expect a lot more supply.
There will be bad SPAC’s, bad IPO’s, blatant pump and dumps (Kodak and the evening White House pressers).
There is something for everyone while this goes on. I sell some Apple only to buy the next breakout of a tech stock that is not as badly overvalued.
I’ll play the game.
Welcome to this weeks Momentum Monday where Ivanhoff and I tour the markets looking at the momentum. We share a bunch of new ideas this week. You can watch/listen to this weeks show here.
As for the giddiness, here is a great chart of the channel the Nasdaq is breaking out of.
Apple is at the center of this happiness and I will keep selling stock into this epic run.
The Nasdaq bubble callers are out but I highly doubt history repeats and the bubble that leads to a pop is the Nasdaq. Been there, done that and that bubble was crazy.
Of all my momentum misses of the last few years, Tesla has been my nemesis. Congrats to the bulls.
Tencent is back to $70 and Alibaba ($BABA) is back to all time highs…once again proving does Trump digital China ban is not being taken seriously. The huff and puff President is all about blowing smoke into the markets and having the Fed blow it up.
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.
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.