The Latest Storm Cleared, And The Markets Cheered

Founder, MagnetInvesting Insights • Aug 18, 2024 at 3:06 PM EDT

Magnet Investing insights for the week ahead. Lots to be happy about!

“It is always wise to look ahead, but difficult to look further than you can see.” - Winston Churchill

Market Commentary:

The latest storm cleared, and the markets cheered. Lots to be happy about.

The bull market reasserted itself in a big, broad, and powerful rally.
The number of 52- week low count is now a very small number, a very encouraging sign for the stock market.
The reason to raise cash in over-bought markets is to re-enter during oversold markets. This rally showed up right on time.
Do not hold off buying the best companies and market leaders just because the news is bad.

Economic data and market clues:

We are still in the middle of this earnings season. Look for more volatility below the index level. Any weak quideness continues to be punished..

The Fed minutes should reveal they are ready to lower the fed’s fund rate at the next meeting. You will hear more market complaining about the wait.

Selected current holdings:

Magnet®:

Generac Holdings GNRC

Palantir Tech PLTR

Light & Wonder LNW

FACTS:

Allstate ALL

Cintas CTAS

RenaissanceRE RNR

More By This Author:

A Spike In The VIX, Carry Trade …And Now We Need To Worry About The Yen?
So Much For Expecting The Fed To Stick The Landing
ProInvestor Insights - July, 2024

Disclaimer:

Both Magnet and FACTS commentary, and our current “best ideas” are included in the ProInvestor Insights August issue. Complementary to veterans, military, and students.

For more information, contact us. Jordan Kimmel is the Managing Member and Portfolio Manager for The Magnet Fund. Securities discussed may be held in portfolios managed by The Magnet Fund. Members of the staff of Jordan Kimmel’s Magnet Fund may hold positions in some or all of the stocks listed and discussed in this publication. Reference to these securities should not be deemed as an understanding of any future position, buying or selling, that may be taken by Magnet. All investments are subject to a risk of loss. Investors should seek their own investment advice and perform their own investigation into the advisability and investing in any of the companies mentioned. Readers using this information are solely responsible for their own actions and invest at their own risk. MAGNET is a registered trademark.For more information, contact us. © 2024 MagnetInvesting Insights

STOCKS IN THIS ARTICLE

Also Mentions:

GNRC ALL RNR CTAS PLTR LNW

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