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Momentum Monday – Nike, Emerging Markets and Genetic Stocks Are Leading The Risk On Move Higher

 

Momentum Monday – Nike, Emerging Markets and Genetic Stocks Are Leading The Risk On Move Higher

Courtesy of Howard Lindzon

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith.

Good Monday morning everyone.

Last week was a good week for my stocks because software was a leader.

Here is the Stocktwits 25 which is where I start my investing week looking at what sectors and stocks are leading. Oil and banks and retail continue to show up, sectors I could care less about long term, but what a run they have had. The weekly list and email are free.

As always, Ivanhoff and I got together to do Momentum Monday and this week we went through some of my largest positions and faves. I had been stalking $EBAY and it finally broke to all-time highs. We also discuss Nike, Emerging markets and the genetic stocks. You can watch/listen right here and I have embedded the show below:

Ivanhoff’s notes below:

Last week, we talked about the plethora of setups in the software space and the weakness in the so-called old-economy sectors – financials and basic materials which caused the S&P 500 to close below its 50-day moving average. A few days later, SPY closed at new all-time highs led by banks, retailers, oil, biotech, and tech stocks. In other words, almost everything went up. Maybe it was the rise in interest rates or the new infrastructure stimulus plan announced by the government but the fear of missing out is back with full force. We can see it clearly in the run in many of the speculative highly-shorted stocks that had 50-80% drawdowns this year alone – SPCE, DDD, FUBO, WISH, PUBM, TTD, ROKU, etc.

In the meantime, the impressive growth in Nike’s latest earnings report confirmed that there’s a huge pent-up demand in the U.S. which is likely to benefit consumer discretionary stocks. Some names to consider include FTCH, SFIX, DECK, etc.

The SPAC market is back in positive motion and Nikita has the roundup

Last but not least, Charlie’s 7 Chart Sunday.

Have a great week.

Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. For full disclosures, click here

[Picture via Pixabay]


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