Thanksgiving week. Been some wild price action over the years this week, stay ready for anything. Keeping an open mind is crucial. Couple things I have been noticing recently are the deadness and rotation out of the Mag 7. First hint is AMZN giving back the entire move from the 200 breakout the second is NVDA failing to continue post earnings. META just been chopping around below moving averages, MSFT in no mans land. What I have seen is strength in Small Caps and Sector Momentum in high growth spaces such as Nuclear Energy continuing, the plow into BTC post Trump(Elons BFF**TSLA)Â and now Quantum Computing making a run. This shouldn’t come as a big surprise if you look at the IWM and things like ARKK, its speculative money out there. Whether this trend of money flow out of megacaps into small-mid caps continues remains to be seen, it can, it can also be a signal of weakness to come. Just noticing that short traders have to be beyond frustrated here for the most part. I am not talking about intraday guys, im talking about the population that has been holding stocks short, it has been terrible for a year and a half and I honestly think a lot of people are afraid to short stocks here, I am not, though I do have my long-interest lists I am open to any scenario here albeit im not chasing just because things continue to rise.
Sector Watch – Uranium
CCJ – multi-decade breakout at $45 will see if it tightens up for another move
UEC- uranium and titanium miner building nicely if holds can be 9-10+ quickly
MARA- looking to see a test of 27-28 see how that holds
ARKK- staying strong with TSLA/ BTC
Thank you, Josh!🙏🏻