Staying on Point
This week we have seen a basing of stocks. Being an earnings report period we will continue to see surprises, like Netflix today, that will show adjustments after coming out of 2 years of pandemic. I don’t know about all of you, but I know our family is watching a lot of new entertainment feeds, Apple, Britbox, Criterion, etc. What this means is that Netflix is not dominant anymore. That is good, but it doesn’t say anything about stocks in general or the economy. It may be time to look at ones portfolio of individual stocks and get rid of those that are pandemic related.
I continue to view EV related stocks as being an area of interest going forward. They are overpriced generally and have little or no income, but they have a future. The move towards community where energy, production, and living will be locally based will continue.
Looking at the Markets..
Some big things should happen over the next week. This is all about big players and the Fed Balance sheet, the Funny Money. It is just rolling around in the Bubble. Much of the current inflation is an outgrowth of big piles of money moving into commodities and short bonds and stocks back in January. My guess is that this money is looking to move to long stocks at some point. In that effort on today’s opening I added long bond ETF TLT to the SPXL and TQQQ stock ETF’s bought late last week and on Monday’s opening.