The market was overall down today. Optik issued an alert for Micron (MU) and it is up slightly from our entry point. MU is producing memory that is required for artificial intelligence (AI) devices and thus the demand should be on a steady climb as the need for more processing capacity and memory density increases. We are looking for a return of 30% on the MU alert. The EU has stated it will retaliate against the US should we impose tariffs on cars. This as well as the Fed and rate hike issues has the market on its toes.
Bull continues to run with all three of the major stock indexes building on last week's gains. The Johnson & Johnson, Dow/DuPont, United Technologies, Microsoft, and Coca Cola are supporting the Dow’s move higher. One analyst says hold on as a buying stampede is underway and we should see more new highs.
Yes, it is still a bull market. Stocks ended the week on a positive note with the Nasdaq hitting a new record high. Wednesday's pullback bounced off support at its 50-day average. The S&P 500 is challenging its March intra-day high at 2801. So we are still in bull market but with the bears pulling hard to change this 9 nine (9) year bull run. Among the factors helping the bears: Continued tweet fears (and real news) about the trade war. Investors fear that this could become increasingly disruptive. A tightening spread between short-term interest rates and their longer-term counterparts with fear of an inverted yield curve. That could cause a recession! The Federal Reserve raising rates. Mi
June was a shaky month of stocks up and down and now with the first half of the year over stocks started the second half on a positive note. The Dow Industrials ended the week above its 200-day moving average. The S&P 500 gained 1.5% this week. While the Nasdaq gained 2.3%. However, these gains may be overshadowed by the fact that they occurred on the lowest trading volume of the year. Normally the Nasdaq market is driven higher by technology stocks. They did have a strong week. But the five biggest percentage gainers in the Nasdaq 100 this week were biotech stocks. Headlines continue to flash warnings about the potential trade wars and a potential recession. Bulls are keeping the faith,
It is hard to believe that 2018 is half over. Optik is up just over 200%. At one point we were up near 400% for the year but series of events hit us. Still, it is hard to find anything that is up over 200% YTD and was up over 700% last year. We are working constantly to change with the market. Presently, one author summed it up, we think very well, calling it a “Fish Market” because it is flopping all over the place. It just takes a Trump Tweet (TT) or a tariff threat to set the market on fire or dump a bucket of cold water all over it. Our last alert was a winner with Visa (V) and a gain of over 40%. Some subscribers stayed the course and reported 60% plus gains.