alice

NFTRH; Market Notes

While we have been on a bullish path, and momentum, breadth and ‘thrust’ imply more upside ahead I want to let you know how I, the same faulty market participant I have always been*, am proceeding.

Heading into this bullish phase (including in precious metals) my tack has been to take profits when presented and then try to be patient in reestablishing positions.  After the post-Brexit euphoria ramp (or whatever this has been) I am making like ‘Old Turkey’ (from Reminiscences of a Stock Operator), and sitting tight in some areas and making like a zealous profit taker in others.

The goal is to book gains but also stay in the game as best as possible as long as the ‘game’ seems to be on track.  The upshot being that at this time I am taking profits on some individual items (ex. CY and AMAT), holding others (ex. LRCX and FARO), raising cash but maintaining balance by being long favored US sectors like Healthcare and Semi and global areas like Emerging and India (per respective NFTRH+ updates).

If you know me, you know I have a vulnerability (or a strength, depending on how you look at it) in not being comfortable riding with desperate money that is fueled by momentum.  That is the nature of what I think is driving the market post-Brexit and I want to top cash off against that in the short-term.

So I am more seller now than buyer, in the short-term at least.  Insert here the usual bit about how anything is available for sale for any reason because the market has been kind in 2016 and I want to limit its ability to be unkind as it becomes short-term over bought.

I’d like to stress that nothing has changed since last week’s report other than current themes have maintained and even intensified in some cases.  But I wanted to give a heads up because even though I ask that people not put much stock in what one participant is doing with his trading, I don’t want people to say ‘hey, where’d AMAT go?’ or any other individual holding that may or may not still be listed in NFTRH 404.

Speaking of 404, I am looking forward to discussing more about the Breadth Thrust, with the help of subscriber ‘LN’, which we began with this post:

Breadth Thrust: Prelude to a Crash?

The theme here is probably measured in months, but no time like the present to begin shaping it.

* Which means don’t take advice from me based on what is right for my situation.  Rather, simply consider my views per your own situation if you’d like.