Major averages rose during Friday's truncated trading session on lower, holiday volume. The otherwise quiet day was notable for the fact that the Russell 2000 posted its 15th straight up day in a row. It has only done this once before in 1996. The index gained 6.1% during its 15-day win streak which ended on Feb 6, 1996. The gain for the current 15-day win streak stands at 16.5%.
The Fed meeting is fast approaching which will most likely bring the anticipated rate hike. Some may wish to listen to bestselling author Michael Covel's recent podcast with David Stockman who says that after such a furious and prolonged bout of QE, markets have never managed a soft landing: https://www.trendfollowing.com/2016/10/27/ep-497-david-stockman-michael-covel-trend-following-radio/
Stockman's views echo those of Jim Rogers, Alan Greenspan, Bill Gross, and Ray Dalio among other notables.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2023 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.