AI, Inflation and the Stock Market - what's coming?
June 27, 2024 - Update
Here is my quick weekly update.
The Nasdaq closed up 1.4% and looks good heading into this week. Volume was above average and the MACD momentum indicator is very close to completing a bullish crossover.
Looking at the 10-year treasury, we finished the week slightly up. Yet, the trend is still pointing down, which is what I want to see.
Lastly, the price of oil was slightly down for the week.
My take: we are in an environment where muted inflation data can propel stocks higher. As long as economic data does not deteriorate significantly and inflation does not pick up again, then the stock market can go higher. This is my base case at this point.
I am using #AI tools and I am super impressed by their capabilities. I know I am using 1% of what is already possible. This is a real tech revolution right in front of our eyes. So I expect the tech sector and #AI and #robotics to keep driving the markets for some time.
PORTFOLIOS
LARGE-CAP MOMENTUM POT
I am fully invested now. Below is what my Portfolio looks like, after updating my stop loss levels:
FSLR 0.00%↑ had a fantastic week and I am up 43% in less than a month in this position
Also, PDD 0.00%↑ is performing well and looks promising.
SMALL CAP MOMENTUM
Last week I was kicked out from VVX 0.00%↑ for a 10% loss. Below is what my Portfolio looks like:
My AVPT 0.00%↑ and CLS 0.00%↑ orders were triggered and Celestica started very well.
This week:
I updated my Stop Loss levels
I am creating an order for 16 shares of ML 0.00%↑ if it touches 97.48 USD only. First Stop Loss at 77.9 USD
ML was the best trade ever within this portfolio. Let’s see if it can deliver a winner again.
WATCHLIST (link)
Here are the other names I was watching this week:
ADMA,BCRX, CLSK, HEAR, HOOD, MGNI, TTWO, WT, HROW, NXT, PDD, ENPH, VST, PJT,FLEX
That’s all for this week!
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Important: This is not investment advice. Consult a licensed financial advisor before making any investment decision.