The Market has once again shown resilience and recovered half of last week’s losses. Whether it moves up or down is anyone’s guess. I’m not being facetious when I say that forecasting conditions are in a “flip a coin” mode. While the market has been displaying extreme resilience over the past few months, the price-actionContinue reading “Market staggers along…downturn could occur SUDDENLY”
Author Archives: John Pugliano
Market back in CORRECTION…
Just a quick update- it looks like the Market might finally be capitulating to the reality of the COVID Re-Opening Consequences. The Market has been extremely resilient to bad news over the past 8 weeks, but today’s action looks detrimental. I don’t know if this pullback will hold but I’d like to see further deteriorationContinue reading “Market back in CORRECTION…”
Taking some money off the table…
The S&P 500 has recovered to the previous highs of November 2019. I’m concerned there might be a little too much re-opening exuberance right now. So to lock in some profits, I sold the following positions: BOTZ Global X Robotics & Artificial Intelligence ETF GOOGL Alphabet HACK Cyber Security ETF NVDA NVIDIA RYT S&P 500 Equal WeightContinue reading “Taking some money off the table…”
Suckers Rally coming to an END?
Has the seven week Relief Rally morphed into a Sucker’s Rally? I hope so. I’ve been waiting for another buying opportunity. Today the S&P 500 was down 1.75%, not as bad as yesterday’s 2.05%; and unlike yesterday’s horrible close, today the index improved during the final minutes of trade. But things don’t look good. OverContinue reading “Suckers Rally coming to an END?”
Bought Tyson Foods
The S&P 500 continues to ping pong around 2850. It has closed poorly for the past two sessions, especially today. ALERT: today I purchased Tyson Foods TSN. It was a small position, no more than 3% of portfolio value…call me CHICKEN !!! For a quick explanation of the rationale, please watch this short video: https://youtu.be/Ofe-N8b2EdQContinue reading “Bought Tyson Foods”