Ivanhoff Capital

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Even official inflation readings are at record levels. Interest perked up last week. Most financials consolidated recent gains. XLF is looking primed for a breakout. Metals were on fire. XME has built a big base near its 10-year highs, led by stocks like FCX, X, AA, ALB, LTHM. Even gold and silver are pushing higher. If interest rates continue to rise, financials and metals should outperform.

In the meantime, the tech sector is not showing any worries about inflation. The biggest companies are getting bigger and more dominant – AAPL, AMZN, FB, MSFT, NVDA, TSLA, GOOGL, SHOP, AMD. There are also new tech leaders that broke out on strong earnings like ABNB, RBLX, DASH, DOCN, U. In other words, market sentiment is bullish and the slight dips are getting bought.

Cleantech is still a major market theme. Rivian’s IPO stirred speculative juices. If you don’t want the volatility of individual stocks but want to have exposure to this strong trend, PBW is one way to approach it. It’s an ETF that gives you access to electric vehicles, batteries, charging stations, solar, fuel cells, renewable utilities, etc.

Cannabis stocks managed to make a higher low and are now starting to trend higher. MSOS provides good exposure to U.S.-based companies. Some individual players that are currently in play – TLRY, CGC, VFF, GRWG, ACB, etc.

Try my subscription service which includes a private Twitter feed with option and stock ideas, emails with concise market commentary and actionable swing, intraday, and position trade ideas, the Momentum 40 list of market leaders, and much more. See some of the recent testimonials.

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Disclaimer: Everything I share is for educational and informational purposes only and it should not be considered financial advice.

The charts in this video are powered by MarketSmith

The speculative juices are running high. The small-cap index, Russell 2k broke out from its 8-month long base and it hasn’t looked back. Maybe, this explains the resurrection of the so-called meme stocks  – CAR, GME, AMC, BBBY, etc. 

The Nasdaq 100 keeps making new all-time highs, led by semiconductors (NVDA, AMD, SMH)  and mega-caps like TSLA, GOOGL, MSFT, AAPL, FB. Even AMZN and SHOP which missed earnings estimates are rising and acting constructively. All news is good news in a bull market.

The S&P 500 is also moving up. Pfizer’s antiviral pill news fueled a rally in reopening industries – leisure, travel, entertainment. We saw big jumps in ABNB, LYV, JETS, LYFT, UBER, SBUX, DIS, BA., etc. In addition, the infrastructure bill finally passed Friday night and might stir some upside action in steelmakers like X, CLF, NUE, equipment manufacturers like CAT, GE, the entire construction space, and some clean energy stocks like BLNK, CHPT, WBX, FCEL, BE, etc. The question is how big will those names gap up on Monday and will we see an initial “sell the news” event?

To top it off, even the perennial dogs, cannabis stocks woke up on Friday. MSOS, GRWG are two ways to play that move.

The FOMO is palpable. One can make the argument that there’s some element of froth in the current tape and complacency often leads to a rug pull. Don’t rush too much with contrarianism. Remember that bull markets correct through sector rotation. This means the indexes can continue higher or dip very little while select sectors and stocks have a more sizable pullback.

Try my subscription service which includes a private Twitter feed with option and stock ideas, emails with concise market commentary and actionable swing, intraday, and position trade ideas, the Momentum 40 list of market leaders, and much more. See some of the recent testimonials.

PERFORMANCE

Here’s a Google spreadsheet tracking all closed options and stock ideas shared on my private Twitter stream and emails for subscribers.

Check out my free weekly email to get an idea of the content I share with members.

Disclaimer: Everything I share is for educational and informational purposes only and it should not be considered financial advice.

The charts in this video are powered by MarketSmith

We judge current sentiment by the market’s reaction to the news. Apple, Amazon, Shopify missed earnings estimates citing supply chain difficulties and yet finished the week where they started it or higher. Google and Microsoft reported another set of strong numbers and rocketed to new all-time highs. Bad news counts for nothing and good news leads to big moves higher. This is one resilient market. 

Anything clean energy continues to be on fire. TSLA had another banner week cementing its place in the trillion-dollar market cap club. Enphase (ENPH) crushed earnings estimates and fueled a major rally in the solar industry. The easiest way to gain exposure to this theme is the ETF PBW, which doesn’t include only solar stocks, but also electric vehicles makers, batteries, other parts, clear energy utilities, lithium, and other rare-earth metals, fuel cells, charging stations, etc.

US Treasuries rallied, interest rates calmed down for the moment which has been a tailwind for high-multiple software stocks. Yes, there were the usual sizable earnings blowups in the sector like ZEN, UPWK, TWLO but for the most part software names have been stable and pushing higher – U, SNOW, CRWD, ZS, DDOG, NCNO, TEAM, MANH, IGV, etc. 

Try my subscription service which includes a private Twitter feed with option and stock ideas, emails with concise market commentary and actionable swing, intraday, and position trade ideas, the Momentum 40 list of market leaders, and much more. See some of the recent testimonials.

PERFORMANCE

Here’s a Google spreadsheet tracking all closed options and stock ideas shared on my private Twitter stream and emails for subscribers.

Check out my free weekly email to get an idea of the content I share with members.

Disclaimer: Everything I share is for educational and informational purposes only and it should not be considered financial advice.