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First half of the year is in the books. I will have tons to say about that another time. However, it continues to amaze me how many large and small investors reacted so emotionally in early April during the tariff tantrum and missed out on one of the best quarters in years. It’s so beyond perplexing that supposedly smart people ignored data for so long.

As we begin July, we know that the month closes up an average of 1.5% when it begins in an uptrend like now. We also know that the first day of July closes higher 88% of the time.

Stocks have come so far and so fast from the “dark” days of early April. Fear, despair and despondency have largely been replaced by giddiness and greed. I think the markets will somewhat punish the late comers later this month.

As I have been writing about, I do like the opportunity in small caps as I have for a few weeks.

(Click on image to enlarge)

On Friday we bought LULU, AWK, more DG, more WMT and more IYT. We sold QLD, FAUG and AIOT. On Monday we bought . We bought JULT, DIA, QLD and more MQQQ.

More By This Author:

All-Time Highs – Let That Sink In
Oil Plunging, Stocks Surging – Exactly What The Pundits Did Not Want
Downside Set Up & Small Caps