The market continues to be resilient. Over the past two weeks, we saw some sector rotation from growth into value, but then it rotated back so far this week. The biggest lesson/reminder from this is to stay focused on the growth leaders. Many of them still need some time to consolidate their recent moves, but they are the ones to focus on for bigger gains over the long-term. There is still very little distribution in this market and the Fed is on our side. However, as we get more extended, the probabilities of a pullback increase, especially as we head into the end of the quarter and with the upcoming Russell index re-balancing. I remain 50% invested. This way, I can participate if we continue higher and still have cash to put to work when the market pulls back. Again, stay focused on the leaders and watch their 21-day and 50-day moving averages for guidance.
Topics covered:
1) 0:00 Announcements – 21 day exponential average and focus on the leaders
2) 3:20 Market Commentary and Index Review – Nasdaq Composite, S&P 500, Russell 2000
3) 13:10 Stock Review – Leaders: MSFT, AAPL, NFLX, AMZN, NVDA, SGEN, VRTX, DXCM, TSLA, SHOP, NOW, OKTA, VEEV, TEAM, COUP, ADBE, AYX, SDGR, BTAI
4) 20:55 Stock Review – General Ideas: CRWD, FSLY, TWLO, DT, IDXX, QRVO, TER, ICAD, Z, ADPT, STAA, SPOT, PRVB, RRC, AMD
5) 29:35 Unusual Option Activity
6) 33:10 Conclusion/Summary