In stocks it can also be powerful. It can propel
priced upwards or downward, but it can be overturned by events such as changes
in profit or accounting issues.
This week accounting issues affected SCTY, driving
the price down and a loss of upward momentum . My guess it SCTY will come out fine, but that is just a guess. In
any event I don’t view it as a buying opportunity due to the unknowns.
Last week I mentioned we could be “seeing a pullback soon, perhaps another mini-correction”.
This is long overdue and now compounded with the Russian invasion of the
Ukraine. The markets hate unknowns. Markets hate wars and rumor of wars, but when these events slide into the past the markets can roar.
Recently Cramer mentioned 15
momentum stocks that I hope to review, for now I will just say I own 5 of
the 15: AMZN, GOOG, PCLN, SCTY and TSLA
This list of momentum
stocks follows his earlier list of
"stocks to own": GOOG,
GE,
JCI,
BAC,
CIEN,
XLNX,
AAPL,
CAT,
BA,
JNJ and TJX.
And the list companies Cramer considers
to be "well managed": MMM,
WFM
and HON.
What did I see in my weekend review?
The 10-yr Treasury yield is 2.79 %
The 10-yr Treasury yield is 2.79 %
IBD (Investor Business Daily) : Confirmed Up Trend
Copernicus Systems: Long but mixed in my IMHO
Moneys Flows: all positive
Stocks:
HAIN +7.73 %, had a great week
Momentum Stocks:
AMZN +5.95%
TSLA +10.28%
PCLN +6.35%
SCTY -6.90% dropped based on accounting issues…I don’t like
to hear this.
ETF’s:
QQQ +4.79%
QLD +1.83%
IWM +3.69%
IBB +1.73% ….the stumble continues, are the markets turning
away from biotech or is this a buying opportunity?
SPY +2.01%
Cramer Picks:
BAC +3.97%...good to see the banks gaining momentumCAT +6.12%
CIEN +2.49%
GOOG +4.73 ….where is the momentum now?
XLNX +10.93% …momentum here
HON +5.95%
BA +1.35%
What will I do?
No plans at this point, but some leverage on small
caps might be nice
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