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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Qone0 who wrote (82928)11/30/2023 2:13:24 PM
From: Sun Tzu2 Recommendations

Recommended By
ajtj99
Arran Yuan

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I was going to tell you that I have an NQ "completion" at 15882.75, but I see that you knew that already ;)

Anyways, there is a rotation out of mag7 into everything else going on. So far no major red flags, just a normal gyration (but of course that could change).

IF I were a bear, I'd say we'll teetertotter around here and then fall right through it once Powell opens his mouth.

But I am not a bear yet. The breadth is broadenting and my biotechs are doing very well, so I don't sense any negative sentiments.

The key question that will make or break the markets in the near term is what is priced in and which should the Fed favor. On one hand, the inflation is falling fast. This means that real rates are rising fast. And that is Bill Ackman's thesis for why the Fed will cut rates and we should buy bonds.

On the other hand, GDP came in strong, so the Fed should have no reason to cut rates, unless they want to be cautious about little pockets of weakness. But given how badly they missed on the transitory saga, they may opt to err on the other side.

It's a toss up. Longer term I am in the soft landing camp: buy TLTW and stocks on pullbacks.

PS I seem to recall some complaints about my recent biotech purchases (BEAM, NTLA, EDIT, etc). The top 4 have been with me for more than a quarter. The rest are mostly recent buys. BLUE has been with me for a while and I made a pledge to not give up on it until at least late December/January.

Here's to shitcos! May they live long and prosper ;)

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