Afternoon Note
The S&P Technology sector is having a pretty good week, but the index has been stuck in a narrow range since breaking out in late July. There has been jockeying for leadership since then, but usually when one niche is rocking, the other is reeling.
Lots of hot money is going into Technology, like electric vehicle stocks, which are not represented in the S&P (soon Tesla will be the lone rep), and the stay at home stocks have caught a bid.
More broadly, the stock market keeps spinning its wheels. Energy is the big winner of the week, and utilities are the big loser; although, up today.
It’s not a bad time to take some money off the table, especially in names that are stalling (make sure to recheck the investment proposition).
There is a lot of guessing going on over the impact of additional lockdowns and restrictions. I think this will be a strong consumer Christmas, in part because we are going to be separated. The experts have misjudged everything from housing, to manufacturing, to the rebound in jobs, to the duration of the bear market, and this week, underestimating by a country mile demand for Thanksgiving turkeys.
Of course, the economy will slow, but a lot of that will create pint-up demand, and the market reads into that as much as current headlines. I want to be mostly long and will continue to seek entries on slight dips or the occasional breakout.
Have a great weekend. Be well and stay safe.
Comments |
Hello Charles. I find the stock market interesting. Matt Swain on 11/20/2020 3:53:27 PM |
Thanks.... JP... on 11/20/2020 4:09:13 PM |
I watch your show almost everyday. I cannot watch your Tuesday night show because I am at work but I sometimes watch the video later. I am new to the market and love learning from you. BROOKLYN ATWOOD on 11/20/2020 4:11:24 PM |
Every year I encourage all my friends to read Art Buchwald's wonderful column Explaining Thanksgiving to the French. Smiles like this, like great friends and country are what we are all about. Gobble On!! CHARLES J MORDEN on 11/20/2020 8:07:37 PM |
Brand new to your services. I've been managing my portfolio for several years with moderate success. Very excited to use your recommendations and learn more about your strategies! I've been impressed with your no nonsense approach, staying away from hysteria and hyperbole. I'm so looking forward to the future of investing and the opportunity to ride along with you and your team! DAVID WESTMAN on 11/21/2020 8:02:11 AM |
You should swap spots with Liz Claman. Your upbeat attitude might help the market close. Cecil Forrest on 11/21/2020 10:34:46 AM |
Thanks Charles for all your wisdom. We have invested for years and your advice is valuable. We mostly invest into mutual funds at Vanguard and Fidelity, but I still can track those investments by what info you share. We don't have Fox, but our daughter does, and when we are there, she and her family are close, we always try to watch Charles. We enjoy hearing your wisdom on Sirius radio in our car while driving and we drive alot! Stay strong Charles. Happy Thanksgiving. Lorin K on 11/21/2020 10:41:50 AM |
I like your view ,compared to other market forcast! Mike on 11/24/2020 11:35:52 AM |
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