The Weekly Selection: 07/02/2023

Volume 044

Introduction

Investors and market enthusiasts,

I’d like to start this issue by saying thank you. Thank you to all the loyal subscribers who continue to read and enjoy my work every sunday! I recently checked in on my stats and it looks like my average reader rate is a little over 55%. This means more than half of you tune in every week, and this makes me quite happy.

Anyway… back to the market. As macroeconomic pressures ease, strength in the market is beginning to return. Remember, the market is constantly pricing in the future, and right now the market is loving the addition of AI technology to businesses. As it stands, any business that has mentioned AI in their quarterly earnings call has seen a huge boost in share price, with investors under the guise that the optimization of their business through AI will be profitable in the future.

Below is a look at SPY 0.00%↑ and XLK 0.00%↑. SPY is a more balanced etf across all sectors, and XLK is strictly technology.

The breakout from the base in may has leaned us back into a consistent, tradeable uptrend.

XLK 0.00%↑ has seen a much more significant rise out of its base, showing the strength of tech in this current market.

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Tip of the week

a couple tips this week. Firstly is to follow the money. Flow trading has seen a sharp uptick lately, and for good reason. With the trend defined, taking institutional alerts has been rather profitable. Second is to look for laggards. One of my best trades in the last week has been HD 0.00%↑ calls as it lagged its index, XHB 0.00%↑. With XHB being one of the most successful industry groups this year, finding the underperformers and looking to long has been quite a strategy. This can apply to any group/sector.

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Past Performance

Im away from my home setup this week, so I will not have my usual excel table to post.

MDB 0.00%↑ was up 5.5%, breaking out of its post ER base.

ONON 0.00%↑ boasted a huge 10% week, continuing its uptrend into the summer.

MSTR 0.00%↑ was up 4.5%, with crypto starting a nice rally as well. For those who are unfamiliar, MSTR 0.00%↑ is one of the largest BTC wallets in the world.

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Charts

GUSH 0.00%↑ up first. Gush is a leveraged ETF that tracks oil and gas. since O/G doesnt move too quickly, utilizing this leveraged ETF can give a solid exposure to the sector with more tech esque volatility.

HUBS 0.00%↑ is second on my list this week. Basically a perma growth tech stock with a nice daily setup. Optionable as well.

WING 0.00%↑ has been a fan favorite since last year. Now making a double inside day with some good upside potential ahead.

Thats all for this week!

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