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(01-24-2024, 09:46 AM)kblake Wrote: Went 60% tech yesterday. I think growth stocks is the only game in town now. With MMM and DD missing badly people are starting to sell safety and going growth. Makes sence in this type of economy.
Added MSFT, TSLA, AMZN, PYPL, NVDA, SNOW and ACN
I agree with you. The rest of the market will struggle in the back half of year. Even the home builders got hammered yesterday on DHI earnings. I think housing has hit a top. And With MMM and DD reporting bad earnings and warning on future earnings, slow growing and high dividend stocks will have a tough time going forward. Tech has been a huge run, and the sector is way over bought. But it looks like they will confine to run. AVGO, NVDA, MSFT, SMCI, CRWD and others will continue to hit new highs.
I trimmed some UTES, PEP, KO, and some others and added to AMZN and GOOG. While I agree tech is leading the market you have to stick with the leaders.
I did add some new names like NTES, NET and PANW
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Added a few PANW, TXRH, MPWR, ROP and WSO
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The tech hype is crazy, but I don't really like to make any more buys after everything is up so much. Many tech companies are also laying off staff, which is usually not a sign of clear skies and massive growth going forward. I'm definitely not selling any of my tech but I personally prefer to throw new money at sectors that still look cheap, and especially if that apparent cheapness is still there due to the fact that interest rates went up. Stuff like residential REITs, utilities, infrastructure etc. Just need to pick those that are well managed, have a good balance sheet and can easily do ok even if the interest rates stay up here for a year or two... just to be on the safe side.
So to put it shortly: high quality companies that are relatively cheap. Some examples: MAA, BIP/BIPC.
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Added to HUM, ELV and UNH in the pre-market
Have an open order to buy TSLA at $170
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Also added UNH. Yesterday I added MO when it was under $40.
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(01-26-2024, 03:57 PM)EricL Wrote: Added to SBUX.
SBUX and LYB are my two companies that have just been stuck in the $90s price-wise for quite some time.
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late last week added
XOM-TPL-TSLA-UNH-ELV-ACGL
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In my trading account, I sold out of PYPL and used the proceeds to buy my first share of SMCI.
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