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First days on the market are a bit like New Year’s Resolutions – – the action just doesn’t last. So after yesterday’s insane pop higher, the clunkers from 2021 have, after a mere day, resumed their clunky ways. I offer you these examples:
Last year, it seems no portfolio manager got more television time, more press, and more adulation than Cathie Wood. One can speculate as to the reason. I’ll hold my own tongue on this matter. But we can all agree that God knows it wasn’t because of her amazing performance. In a year when everything skyrocketed to nauseating highs, Cathie’s momentum-obsessed investing style was a dud. And here we are, on this very day, in which lifetime highs were again achieved, and down she goes.
These screenshots are a tiny bit outdated, since we’ve had a bit of selling this morning, but the Dow Industrials blasted to yet another lifetime high today, escaping their range from late last year.
There are a few high-priced stocks that have completed right triangle patterns that I like, and I’ve mentioned Twilio (symbol TWLO) a few times last month. This is edging its way lower quite nicely.
What a nice change from the nothing-going-on month that just ended:
