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Just when you thought you could count the rally out the bulls come back with a vengeance. You may hear talk about the “Trump Trade”, but at the end of the day the Semi’s and AI stocks got oversold and buyers rotated in. Small caps stayed strong, while the Dow underperformed. This morning things look pretty flat ahead of TSLA and GOOGL earnings tonight.
SPY had a U&R at it’s 20 day EMA….
QQQs not quite there yet….
Rates continued to move up, keep an eye on that…
Being a counter trend trader I sold a lot into the close and added back some ETF shorts. My watchlists coming into today are back to somewhat normal as I have about an equal amount of longs and shorts.
On the long side I have SMCI, which I haven’t owned for a bit. Lucky for me as it hasn’t gone anywhere.
Days like yesterday show once again you shouldn’t be fighting the Fed. A ton of stuff in the economy is F’d up, but the next move is a cut and we are going to be starting on a cycle of cuts. Buy dips, sell rips, and have longs and shorts.
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Matthew Tuttle is the Chief Executive Officer and Chief Investment Officer of Tuttle Capital Management, LLC.
At Tuttle Capital Management (“TCM”), we want to help educate investors about different ways to allocate and manage assets. TCM strives to create innovative portfolio management tools coupled with investment strategies designed to help mitigate risks and potentially enhance returns.
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