Financial News vs. Noise
The market continues to grind upwards. Yesterday we took some profits in energy stocks as oil had a big up move. We added MARA on the dip. NVDA and TSLA were the only Mag 7 names to move at all. We continue to own MFST and AAPL and would look to buy others on dips.
We are currently short VIX (VXX Puts), if we get another push down we may be in a situation where we would flip long again.
Besides that, every chart we look at is extended, except China and oil. Would love to see some sort of selloff to bring things back into some sort of support. Oil is a bit red this morning so perhaps there will be some spots to add back oil names. A couple of other charts that look interesting are
NIO—Popped back above it’s 200 day and getting a lot of buzz on FinTwit
ZIM-took off a week or so ago on shipping concerns, pulled back yesterday but held it’s 10 day.
AEHR-Another one being talked about on FinTwit, holding a bunch of moving averages.
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