Momentum Monday – The Dips Are Still Getting Bought

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The bad news keeps coming, the market keeps rising. Less than two years ago, the mere mention of more tariffs on China was enough to send the market in a tailspin. Now, they want to delist Chinese stocks from the U.S. stock exchanges and the Nasdaq 100 is within 3.5% of its all-time highs.

Biotech and software stocks have been on absolute fire – squeezing naive short-sellers who are trying to trade rationally in an irrational market. Stocks can still go higher as the current mentality is to buy the dip and mentality doesn’t change overnight. What typically changes are the market leaders as rising markets often digest gains through sector rotation.

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