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- Momemtum Monday (Yes It Is Wednesday)...The Nasdaq 100 Back At All-Time Highs and Software Is Coming For The Bond Markets
Momemtum Monday (Yes It Is Wednesday)...The Nasdaq 100 Back At All-Time Highs and Software Is Coming For The Bond Markets
Howard Lindzon
June 16, 2021
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.
My sleep patterns have been off because of the east coast travel so I apologize for the duplicate emails the last few days.
I have my settings so that the email goes at 6 am pst no matter what and if I am late one day it resends the same post the next day …
It is a forced way to make sure I write every day and be accountable.
My aim is to write something new each day on this blog but this week I have definitely fallen off the bike.
Onwards….
This tweet made me LOL today…
One last happy note before I get to Momentum Monday…my good friend Craig Lauer had a hole in one yesterday and though the shot is not caught on film (he’s not some degenerate millennial that can swing while holding an iPhone), his reaction to finding the ball in the hole is awesome. Would have been fun to be there getting free drinks.
Ok…here is this week’s Momentum Monday (on a Wednesday, I know…). I have embedded it here on the blog below:
There is a LOT to like. It is that simple. I shared some fresh ideas so have a listen or watch.
Here are Ivanhoff’s comments:
The Nasdaq 100 and the small-cap index Russell 2000 started the year strong. Then, in mid-February, entered into consolidation building a long multi-month base. While QQQ and IWM were in a range and many momentum stocks from 2020 experienced 50%+ drawdowns, the so-called old-economy stocks – financials, industrials, transportation, basic materials, energy, outperformed significantly – the market tried to manage quickly rising inflation expectations. In the past week or so, the roles began to reverse. It seems financial markets have woken up to the possibility that they might have over-discounted the threat of sizable longer-term inflation and are now backpedalling to correct the excesses. This is nothing new. The markets are often too fast to react to new dangers and opportunities and therefore, swing too far to the upside or the downside. This is what makes trading and investing so interesting, challenging, and exciting at the same time.
We might have entered a new narrative that is positive for the so-called new economy stocks – software, semis, solar, biotech, medical devices, etc. Growth stocks are setting up and breaking out again, the general price action is bullish and the most appropriate action, for the time being, is to remain long.
Here is the weekly Stocktwits 25 list where I start my week of work each weekend.
Charlie’s 6 chart Saturday is always good.
Nikita continues to cover the SPAC sector very well – here is this weeks post with a good take on Weedmaps. I share it here every week because of course Social Leverage has a SPAC ($SLAC) and I am the CEO and I want to stay up to date at all times on prices, leaders, people and deals. The SPAC is an old ‘feature’ that is here to stay in a retail investing world. A few weeks ago, Nikita put together a buy list because we thought sentiment and maybe prices were out of wack to the downside. It is worth reading again as there has been a good pop since and worth tracking if you are interested in this part of the market.
Back to work…
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.
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