Market driven by AI almost entirely, and
all other stocks on average are flat. An almost impossible market to make out in, as PEs in the tech sector are through the roof, and very high in the S&P as well. In my view. The only stocks(outside tech) that will go up, are extraordinary stories, where not only is growth strong, but where valuation has been pounded. However even with them, most will just be dead cat bounces. I guess what I'm saying is, outside tech, we're in a bear market, and going forward looks no better. I'm up around 20% for the year today, but ONLY for a nice GERN pop I had in March.
I am now noticing also, that great news is only propping stocks on earnings day, and after that, the stock just trends down or goes sideways. A perfect example was HALO as of late. The news was unreal, and the stock popped 12% on earning day. However in one week, the stock has given back half of those gains, and is trending lower. I see the same action setting up for most stocks. Wadegarret has been all cash or part cash off and on the last couple weeks, and I am finding it highly frustrating to see the best reports in the world for given stocks result in sell offs for weeks after. Now I enjoy the challenge of trying to beat any market, and I'm up a lot % wise still for the last couple years, but I won't be willing to lose much more back before going all cash, and maybe even just sitting in a 5% fixed income ETF of some sort.
