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Broad Market Outlook
As the overall market continued to stay within the confines of its breakdown stage putting in a lower pivot high at $440, the talk of the town was the Energy sector that has slowly transformed from the class clown to the prom king.
Even though this transformation has taken 2 years of hard work, we are quick to forget that as Mr Market puts the crown on top of Energy's head, it seems like the transformation happened in an instant.
The biggest individual winner this week was OXY, as Django and his grandfather Warren Buffet have done an amazing job holding there position. I sheepishly sold into $48 missing the monster action in the name on Friday.
Right now sector wise, the obvious leader is Energy, however we want to be playing defense as this sector is overheating. Trying to chase OXY up 50% in 4 days or CVX 6th day up is a receipt for disaster. The meat of the moves happened already. If you are apart of them, take advantage of the gains, if you missed them, its a part of life.
On the flip side the obvious loser among the major sectors continues to be Telecom as it continues to stay in its breakdown stage retracing more then 50% of its up move off lows. As painful as that seems, we need pull backs for the next leg(s) higher.
With the rest of there peers in a stage of limbo as most are trading inside there recent ranges while heading closer to there major areas of support other then Utilities as traders are flying into the safest sector.
With the broad market still staying in this downtrend, listening to the trend by trading less continues to be the best route. You have to remember that cash is a position, being patient is a position, doing nothing is a position.
Just like when the good times feel like they will continue forever, the bad times can feel like they will never change even more so, when in reality that isn't the case. Be patient and eventually those trends change, they always have and they always do with time.
From Bennett
SPY
Dow Jones
Nasdaq
Mid Caps
Small Caps
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Handbook Updates
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Sector Rotation
Sensitive - sectors that have moderate correlations to overall market conditions.
Tech
Energy
Industrial
Telecom
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We started a separate group for Alpha members with a focus on long term investing and increasing weekly savings. If you would like to join this group, all that is required is you have an M1 account. You can send me a screenshot of the account to be added. If you need help setting the account up set a time below and we can get you started with as little as $100 in under 15 minutes!
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Cyclical - sectors that are more sensitive overall market conditions.
Materials
Consumer Discretionary
Financials
REIT
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Tax Experts
Tax season is right around the corner, if you have any tax questions click here to talk with our tax pro today!
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Defensive - sectors that tend to outperforming during sub par market conditions.
Consumer Staples
Healthcare
Bio Tech
Utilities
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Interested in adding an additional source of income?
We are looking for 1 more Alpha member to join us selling artwork on Etsy. If you would like to learn more, shoot me a DM on GroupMe.
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Big Picture Set Up
BCPC
BCPC has started to enter the basing stage and could be starting to set up for a move out of this base and into a breakout stage. Will be keeping an eye on the 142 area in this name.
HELE
HELE has left the breakdown stage for the basing stage, will keep an eye on this 212 level for when it wants to start to enter the breakout stage.
HUBG
HUBG has worked its way back towards its Blue Sky Breakout area with 4 attempts at this level, we want to keep this on our radar for when it can push through 87.
LMT
LMT could not look better and often when that is the case, its time to play some defense to make sure we squeeze the most out of our winners. A stop vs 430 could make sense to protect profits for now.
OXY
OXY is finally starting to wake back up and after the crazy action on Friday, it may be time to start ringing the register, after a 100%+ move since the start of the year, it could be hard to sustain the rapid price increases it has had over the last week. Taking profits into any Monday morning gap up could be a wise move.
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Traveling Experts
2nd Annual Blue Ridge Rally April 22nd to 24th
We have a big announcement for the upcoming rally!
Shake will be joining us this year in his high end RV that does 0-60 in 14 seconds flat.
We have 2 open spots for members who would like to attend.
This trip starts in New Jersey, if you are local and want to join in on the fun, shoot me a message on GroupMe to learn more!
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