Goldilocks May Have Made An Appearance To Ring The Bell At The Top -

Goldilocks May Have Made An Appearance To Ring The Bell At The Top

Jul 21, 2024Jeremy ParkinsonFinance, No picture0

“Become more humble as the market goes your way.” Bernard Baruch

Market Commentary:Major rotation continues; new leadership; valuation matters again?

Which are the sectors with the greatest number of new highs? It is now energy, banks, finance, medical, and insurance – after being market laggards all year.

The number of 52- week lows remained in the “safe” level last week, despite the hard selling in many previously extended favorites.

Goldilocks may have made an appearance to ring the bell at the top (short term) for Wall Street! Or maybe it was an economist dressed up as Goldilocks sharing the economy is not too hot or too cold. Remember that Goldilocks tends not to spend too much on Wall Street.

We are seeing an increasing number of buyouts, especially in the biotech space. I have one that I am looking forward to hearing about.

It is summer- read a great investment book! Here is a short video where I highlight ten of my favorites.

Take a quick look at these old TV appearances from 2006. They share much of the same sentiment I have of today’s markets.

Economic data and market clues: Earnings will dominate the market moves as we move into full earnings seasons. My favorite market analysis of the year award goes to Louie Navellier, who likes to say, “it is every stock for itself’”. A company’s future guidance is far more important than what bottom line number released. To be polite, the numbers are often “engineered.” Selected current holdings:Magnet®:Tidewater TDWCoinbase COINCelestica CLS FACTS:Allstate ALLServiceNow NOWLeidos Holdings LDOS More By This Author:Goldilocks Has Made An Appearance On Wall Street!
Week Of July 8, 2024: What’s In Store For The Markets
Week Of June 30: What’s In Store For The Markets