Major averages rose Friday, finishing midbar on lower volume on a weak jobs report. The lower volume came as little surprise ahead of the 3-day weekend. Meanwhile, a number of leading stocks including some key stocks we have emailed to members continue to show much strength, such as PI, MELI, and BABA.
Indeed, it seems the vote has been cast, at least during Friday's trade, that delaying a rate hike is good for the market since it means more quantitative easing overall. Of course, this perception is subject to change without notice. Friday's midbar close suggests there are some who dissent from this view, arguing that after years of money printing at home and abroad via various forms of QE, the global economy remains deeply troubled.
As one substantial example, China's troubles were placed on display for the world to see in August of last year then again in January of this year. But then the markets found a floor and rallied each time back toward new highs.
Indeed, quantitative easing has been a most formidable opponent to anyone who's been a long term bear since 2009.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
