Market Outlook Update

Hope everyone is having a good weekend.

On Friday, the markets looked very tired and exhausted for moving upward. The volumes were veey small and on a Friday, normally the buy the dippers should float the markets up. However we did not see rhat. Even semicon chip stock AVGO had a monster pop, up 25% the NASDAQ was only up 24 points and S&P 500 ended the day flat. FYI , AVGO is a number 8 stock on market cap right after the mag 7. AVGO is also a trillion market cap chip stock. Therefore when you see after their reporting, its price jumped 25% and the broader markets not moving, this is a huge warning sign.

Well, although the markets may still move up a bit into the holidays but I think it is very near to its peak and we may even see it starts to chop sideways getting ready for a much bigger correction downward. For me, I am prepared to ride the wave down. On Friday before the close I bought the following:

SOXS, QID, SDS, VXX, SPXS, NUGT

I will continue to DCA into these stocks till end of December. This is just my opinion. Please do your own research before investing. Just a word of caution if you are still hypped on the markets going up to the moon! Remember, what goes up must come down…

Cheers

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more

Translate

Report

5030 Views

Comment

Dr DT

Retailers must include gold in their portfolio during rate cut cycle and economic slowdown. Consider NEM, GDX, GLD, GDXJ

377Followers

1Following

1099Visitors