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“The only place success comes before work is in the dictionary.”                              Vince Lombardi

Market Commentary:

The Bull Market strengthened, let the naysayers say nay…there is no shortage of great companies doing well.

• Being able to recite the potential problems in the world does not make you a good investor.
• The new leadership in the market has expanded to more than tech, or the Magnificent 7.
• Right now, there are no bad sectors- only bad stocks.
• If you are waiting for a pullback, ask yourself what actions you took during the last pullback.
• Tremendous activity in the bio- tech sector. I would not have any shorts in this sector.
• The number of 52- week low count simply disappeared again. The Advance/decline on the NYSE hit a new high, the NASDAQ snapped back. These are what we hope for as investors.

Economic data and market clues:

The big question- does the Fed lower rates by a quarter or half point? I think it does not really matter. They are late to remove and they know it.

The Fed’s path is much more certain. Chairman Powell was clear- rates will be lowered, I think by 50-75 basis points by year end. More rates cuts are a lock for 2025 as well.

Nothing new in the manufacturing or housing data. Manufacturing is too weak, and housing has a shortage of supply.

Selected current holdings:

Magnet®:  A lot of new breakouts

Green Brick Partners               GRBK

Tradeweb Markets                   TW

Immersion                                IMMR

FACTS:

Amgen                                     AMGN

PulteGroup                               PHM

Leidos Holdings                       LDOS

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More By This Author:

Growth At Any Price (GAAP) Is A Bad Strategy. Valuation Matters.
The Market Leadership Has Changed, Be Open To New Names
It Is Time To Be Selective, Not Bearish