“Success…seems to be connected to action. Successful men keep moving. They make mistakes, but they don’t quit.” - Conrad Hilton    

Market Commentary:

The stock market is grinding higher, sitting in cash is making the bears growl.

• The Advance/decline line on the NYSE looks great, the NASDAQ is still struggling. The 52-week new-high/new-low numbers on both look even better.
• The domestic infrastructure buildout is an established trend now. There are a dozen market leaders in this area.
• Fall clean up time. Sell lagging and sagging companies. Only strong and healthy companies belong in your portfolio.
• Tremendous activity in the bio- tech sector. I would not have any shorts here. Look for a slew of merger activity. I am ready.
• If you are bearish here, you are just predisposed.

Economic data and market clues:

The Fed’s path is now certain. Lower, slower, but ready to go another 100 basis points lower over the next several months. Powell will get replaced in February.

Fed Chairman Powell is now clear. Short term rates are going lower, but not to zero like they were. Get “free money” out of your mind. That was a unique period.

Maintaining a restrictive stance right now makes no sense and the Fed now understands that.

Get ready for earnings season. There should be less of a concern now of quality companies giving poor guidance.

Selected current holdings:

Magnet® :  Lots of actionable ideas right now.

ADMA Biologics                     ADMA

Byrn Technologies                 BYRN

Exelixis                                   EXEL

FACTS:

Generac                                GNRC

Dycom Industries                   DY

JPM Morgan Chase               JPM

For more information, contact us.

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