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- 🚀 Greed’s back – markets heating up
🚀 Greed’s back – markets heating up
The wall of worry has crumbled
Hey Folks,
As expected, stocks closed out the second quarter on a high note today, with the S&P 500 and the Nasdaq each rising about 0.5% to mark new highs.
Greed is back on the menu, with Bloomberg’s Fear/Greed gauge swinging nearly 800 points since mid-March:
I like this quote from Terry Sandven of U.S. Bank Wealth Management: “The wall of worry is crumbling as stocks reach all-time highs. … That’s a favorable backdrop for stocks to continue to forge higher as we begin the second half [of the year].”
And as ZeroHedge points out, there hasn’t been a red July for the past decade:
What else are you going to do besides buy stocks when it’s this hot outside? 🥵
On the trading front, my two “tactical trade” ideas from this morning each closed in the green, with one of them hitting a 12% intraday high.
I’m always glad to make “base hits” but I think I can do even better this week…
I’m zeroed in on a stock right now that shot up 17% on the day I alerted it last month.
This is a stock with a history of big surges, including a 95% from April 10 through early May — far outpacing the S&P 500’s recovery.
The stock has good momentum at its back right now, and I think tomorrow could be another big day.
I’ll outline my thinking in tomorrow morning’s email, so be sure to check your inbox around 9:00 am EST.
To Your Success,
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