Things I Did Today
Here are today’s things:
* I sold out the following longs:
($AMZN) $236.89
($GOOGL) $330.07
($MSFT) $450.31
($SNDK) $1156
* Added to ($MSOS) $4.04, ($TRLV) $8.02 and ($GTBIF) $6.92
Positions: Long MSOS VVL TRLV S GTBIF S
Out of Tech Longs
I am out of longs in SNDK ($SNDK), AMZN ($AMZN), GOOGL ($GOOGL) and MSFT ($MSFT).
Positions: None.
Putting Capital to Work in 4 Portfolio Holdings
We’re leveraging the market’s pullback and insights from Samsung, Lam Research and Microsoft earnings.
Mixed Results Last Night
Microsoft ($MSFT) was a pleasant surprise with growth at Azure accelerating.
Mets ($META) not so much.
We remain long $MSFT, Amazon ($AMZN) and Alphabet ($GOOGL) in the Mag 7.
More later…
Position: Long MSFT (S), AMZN (S), GOOGL (S)
Unfriendly Fed and Meta Disappointment
The hawkish bloc is growing, and the rotation that was absorbing the damage reversed.
The Fed, the Rotation, and Why IBD Is at Minimum Exposure
As the Fed decision sets up for a strong reaction, here’s what to watch. Plus, why IBD is at minimal market exposure while the Dow rallies.
Will Wednesday’s Fed Meeting Break Us Out of This Either/Or Funk?
Semis up, drugs down. The Either/Or market is undefeated. But maybe the Fed can help move the market.
Here’s Our Game Plan for Applied Materials and Marvell
The demand picture remains strong, but market conditions mean focusing on support levels.
Is China Really to Blame for the Chip-Driven Tech Wreck?
Semiconductor stocks are selling off hard, a scary picture in a key week for earnings. But is the ‘China factor’ really to blame?
More Divergences
Yesterday was an extreme example of divergence within the market and in the tech space.
Memory and chips were an unmitigated disaster as the hyperscalers (e.g. $MSFT, $GOOGL) flourished.
Meanwhile, the consumer staples (defensive) ripped higher in a sea of market red.
I see Monday’s action as another example of potential market structure risks in which, in a market where so many worship at the altar of price, they all want to get in (and out!) at the same time.
Look out below?
Position: Long PEP (VS), KMB (VS), PG (VS), MSFT (VS), GOOGL (VS)