Positive Seasonality Traps the Overconfident Bulls
As the first trading day of July brought positive action, the bulls got a bit too excited.
Closing Market Stats for Wednesday
Closing Volume
– NYSE volume 2% below its one-month average
– NASDAQ volume 22% below its one-month average
– VIX index: up 0.85% to 16.59
Breadth
S&P 500 Sectors
% Movers
Nasdaq 100 Heat Map
Closing S&P 500 Heat Map
Position: None
Maxim No. 1
The more years I spend listening to the talking heads in the investment business, the more I realize so much is B.S.:
Position: None
Wednesday Afternoon Market Stats
Breadth
S&P 500 Sectors
% Movers
Nasdaq 100 Heat Map
Position: None
Adding to 3 Longs
I’m adding to private equity longs:
* $APO $118.22
* $BX $119.37
* $KKR $92.44
An investment and not a trade.
Position: Long APO (S), BX (S), KKR (S)
Tech (XLK) vs Financials (XLF)
At 2:20 p.m.:
Position: None
Why Underappreciated NetApp Is Ready to Rally
Another holding in my Select Equity strategy, NTPAP’s growth catalysts are too hard to ignore.
Tactics (Part Deux)
I strongly believe that the second half of this year will be filled with volatility and opportunity.
I will likely be trading more aggressively than I have in the past.
Position: None
Chart of the Day: Is That an Uptrend I See in Microsoft?
The beleaguered software and AI/gaming name has started its journey from deep oversold.
VIDEO: Our Big Tech Holding Wants to Challenge AWS, Azure and Google Cloud
Plus, reviewing the latest economic data and some positive findings on inflation.