As we develop the theme that the macro is going inflationary and thus far, anti-USD, global stocks are doing well (we have shown a mostly “anti” USD posture for global as a whole.
In this environment of late, I’ve been writing about a scenario where shorting stocks may not be the way to go, because they could keep up appearances, much like in the 1970s, by not declining much, if at all, nominally. The decline would be in relation to precious metals and commodities. Also, global stocks could resume bulling in relation to US stocks (not happening yet as ACWX/SPY topped out in April).
Long story short, I do want some global exposure as long as the broad bull endures. My ASML holding got hammered from a profit to a small booked loss. But it is a premier Semi Equipment company and I have to look deeper into whether it was a specific trade war issue or a sign of oncoming cyclical economic weakness.
I had one failed trade in BABA, as it dumped the nose of the Symmetrical Triangle and I limited the loss (a nice way of saying “got shaken out”). Subsequently, news of a $433 million class action suit stemming from the Ant Group IPO in 2020 came out. Apparently the market liked that resolution as BABA ultimately held a higher low, the SMA 200, broke back into the Sym-Tri and broke out of the top of it.
I added it back yesterday. Just a low priority look at nice chart and portfolio diversifier.
NFTRH+ trade setup ideas are presented for consideration and further research only, not as recommendations. I may or may not personally take positions in all or even most NFTRH+ ideas, as it would depend on my portfolio composition at any given time. “Stop loss” and target levels are usually noted and should be respected.
