Mostly Sunny, Chance of Showers
In the last issue, we wrote about the myriad crosscurrents that were still being seen—while the major indexes looked good, the day-to-day rotation was wild among sectors and themes, with news-driven moves the norm for a few weeks. But also...
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Sometime between today and Friday, the U.S. House of Representatives will vote on the Marijuana Opportunity, Reinvestment and Expungement Act, otherwise known as the MORE Act.
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The bull market is alive and well, as investors look forward to vaccines that enable economic reopening. So I continue to recommend that you be heavily invested in a diversified portfolio of stocks.
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Wild—but Positive—Action
The healthiest market environment is generally one where most participants are rowing in the same direction—the vast majority of stocks and sectors glide higher (with the occasional pullback or shakeout, of course) as investor perception of the future steadily improves. Even if broad...
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A wave of quarterly reports in recent days means most of our companies have reported.
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The bull market rolls on, with today’s news about Moderna’s vaccine providing a high-profile reason to be optimistic about reopening the economy.
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With all five states that voted on marijuana proposals last week saying “Yes,” the trend toward nationwide legalization is now clearer than ever—and marijuana investors have been acting accordingly.
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The news that Pfizer has a promising Covid vaccine, combined with the weekend news that Biden/Harris won the presidential election, triggered a wave of buying (and selling) on Wall Street this morning, rewarding both large caps and small caps while penalizing (at least stocks...
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Believe What You See
There are usually a couple of times each year where the market really messes with people, catching the vast majority of investors off-guard. (Remember the old saw: The market does what it has to do to fool the most investors One...
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Yesterday, voters in all five states where it was on the ballot—Arizona, Mississippi, Montana, New Jersey and South Dakota—said they were in favor of legalization, and in every case, the majority vote was clearly positive, not even close.
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With the election tomorrow a nearly universal concern, my optimistic expectation is that it will quickly pass, and investors’ attention will revert to what really matters—growth and valuation.
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The overall investing environment remains positive, though recent weakness in growth stocks in particular means buyers of aggressive stocks should favor low-risk entry points.
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Riding the Bucking Bronco
Investing in general, and growth stock investing in particular, tends to be very streaky—while many would love for a steady, low-stress increase in their portfolios, that’s not how the world usually works. Instead you get periods of time when the gushes...
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Just a brief update today, mainly to discuss this morning’s sharp drop in the stock that we added to the portfolio last week.
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Some of the best stock performers throughout history have been what are known as “follow-on” opportunities—companies that thrive as a secondary effect of some major change going on in the world.
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After last week’s two rounds of buying, the portfolio’s cash level is now down to 27%, and all our stocks look good. So now the question is whether we should continue buying.
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The overall investing environment continues to improve, with our intermediate-term trend-following indicator now back in positive mode and growth stocks in particular seeing strong buying.
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Yesterday saw strong buying in marijuana stocks across the board, with both U.S. and Canadian stocks benefitting.
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Steady Improvement
By the letter of the law, the big-cap indexes remain in the midst of a correction—the S&P 500 sits about 4% off its high, while the Nasdaq is more than 5% below its early-September peak, and many stocks and sectors are being around...
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Eight weeks ago as marijuana stocks topped, I began selling and taking profits and that’s worked out well. We’ve lost less than the index, as the correction took down first marijuana stocks and then all stocks. At the same time, our strongest stocks gained...
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