“Knowledge born from actual experience is the answer to why one profits, lack of it is the reason one loses.”    Gerald M. Loeb

Market Commentary

New index highs, with even narrower participation- not what you want.

• It was another breathtaking week as a few companies led the indexes to new all-time highs. Large cap tech simply exploded, while you can see clear deterioration surfacing in the broader market.
• The number of 52-week lows expanded beyond the "healthy” level.
• The recession watch continues to take center stage as employment and inflation data show cooling. Do not confuse the economy with the markets.
• Interest rates have been gradually coming down on longer term bonds and the “5% safe haven” has already evaporated.

Economic data and market clues:

The Consumer price Index will be the biggest data point this week regarding the economy.

Bank earnings will kick off the earnings season this week. While the banking sector is currently lagging the market, bank earnings are looked at closely for clues on the economy.

Selected current holdings:

Magnet®:

Datadog                   DDOG

Generac                   GNRC

Palantir                     PLTR             

FACTS:

Amazon        AMZN

BlackRock   BLK

ServiceNow  NOW

•  Take a quick look at these old TV appearances from 2006. They share much of the same sentiment I have of today’s markets!
• It’s summer- read a great investment book! Here is a short video where I highlight 10 of my favorites.

More By This Author:

Week Of June 30: What's In Store For The Markets
Week Of June 23: What's In Store For The Markets
Week Of June 16: What's In Store For The Markets