Investors,
Welcome back to another iteration of ‘The Weekly Selection’, where I cover my thoughts on the market, what’s upcoming and some other little nuggets for your enjoyment.
Before we begin, take a look at I B(egg) Your Pardon? posted last week. This is the most recent deep dive research piece. Additionally, check out the latest Podcast at the link below.
Get active on the rest of SEBS socials:
SOCIALS
Indices
Today is Super Bowl Sunday, so I will keep this article light to ensure we can all collectively cheer against the Kansas City Chiefs.
Looking at the market right now is pretty straightforward. Were seeing a rangebound SPY, which imo is not actionable until it either breaks out to highs, or under cuts and rallies the lower part of the range. As many of you know, I have been a subscriber to the 3 pivots out of the base action that has been consistent with the market for the last year and a half or so. Until this is broken, I will continue to trust it. Right now were are poised below the breakout that could make a very tradeable run in the market.
Very constructive as seen above. Watch for a push out and currently RS names to continue higher. Again, as stated I believe there to be 3 primary themes in the market that will drive higher: Deportation, Space, Energy. All of these, besides space barring a fallout between Trump and Elon, are in the theme of necessities, both from a public eye and competitive perspective.
Additionally, the GLD 0.00%↑ trade that was prolific for this newsletter over the last year or so is beginning to make another move higher. I initially thought Trump would be a curb to some of the global uncertainty, but that ended up not being the case as within the first 2 weeks of him taking office there’s been more pandemonium than ever before. If this persists, so will the GLD long trade.
GOLD spot pictured above. Extremely linear move, barely any pullbacks that were not quickly bought.
Unfortunately, that is all I have for you this week. I am still watching the same stuff as usual:
GLD (and maybe miners)
Space: RKLB ASTS RDW
Crypto: MSTR IBIT BTC ETH
Deportation: AXON BYRN GEO
Tech earnings this week, be careful of sympathetic moves on names you hold.
Another great Podcast.
Thank you