The market has a funny way of expressing fear. 

Yesterday, all eleven S&P 500 sectors finished the session higher, led by a resurgence in the Real Estate (XLRE) sector and growth name.

Chips Ahoy

Information technology continues to ignore the mavens as it continues to soar. Once again, the driving engine was semiconductors, which rallied on Intel’s (INTC) Investor Day Conference and Micron Technology (MU) earnings.

Lots of green on the screen.

It’s Back…Buying the Dip

After a terrible 2022, buying the dip is back, and it has only been better one other year. Because money is reluctant to leave the market, it is like a hot potato, looking to strike here and now. It’s the kind of atmosphere that makes intermediate and long-term investing frustrating, but trading enticing enough to lure folks that are not used to cashing in and out on a daily or weekly basis.

A portion of everyone’s portfolio should be dedicated to trading, because when the market serves it up, the overall impact on your portfolio can be huge.

Question of the Week (Maybe Century)

In a letter to developers, citing potential risks to society, Elon Musk, Steve Wozniak and many experts and tech leaders in artificial intelligence (AI) are calling on labs to pause the development and training of new AI systems. 

Should we pause, and if so why?

Portfolio Approach

We are adding a new position in Industrial’s to our Hotline Model Portfolio.

Today’s Session

Bullish

The NASDAQ 100 has officially entered a new bull market with its 20% move off the low.  It’s true, the move has been led by a handful of stocks. But we have seen them pull this off before – for long stretches at a time.

The higher these names go, the wider the breadth will eventually spread, as professional buyers that missed the move will A) do some window dressing and B) look for the next big movers. But they must get in sooner than later.

 

Comments

Knowing you read these comments, I will say thank you Charles. My hotline subscription is ending today and unfortunately, I am not in a position to renew it. I have enjoyed reading your commentary and your outlook on our country, politics, and economy. I wish you well, and I look forward to the day I can gain access to your wonderful material and advise. Thank you, Michael Michael T Guse on 3/30/2023 9:35:09 AM

Good morning Charles, IMO we, as Americans should not pause in the development of AI because we know that China and its allies won’t pause. That being said, we should also be careful with how we implement AI. Gary on 3/30/2023 9:57:11 AM

It’s too late to pause. We need to continue to push forward in the AI space. If we pause, that will only allow other bad actors to catch up - we (the United States) need to lead. Chase Rief on 3/30/2023 10:24:21 AM

I totally agree with Elon Musk to slow down AI. From what I have seen AI is a danger to our society and possibly humanity. Anita Ariail on 3/30/2023 10:50:59 AM

I'm not saying because when Skynet takes over, it'll find all of you that trash-talked AI. I wouldn't want to be in your shoes then. Resistance is futile. Jeffrey J. Riddell on 3/30/2023 1:08:48 PM

Yes, lay out concerns and risk that lay ahead and possible scenario's that would result in harm to the public. Set up guidelines before the lawless and thoughtless get the power to inflict damage. M on 3/30/2023 6:56:25 PM

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