SC Weekly Outlook – Bottoming Is a Process

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Overview:

The purpose of this article is to provide some insight into potential upcoming trades and portfolio management across several markets.  As I mentioned last week we are upgrading the site to provide additional benefits to our current and new members.

We have hit some technical snags with coding, which the developer is working on to meet our requirements, but we are making progress so we apologize for the delay.

The Fed meeting was a disaster, but the market simply headed the direction it was already going.  Often these meetings amplify sentiment, but regardless of the outcome, market sentiment was already low, and prices were likely to have gone lower no matter what Powell said.

Bitcoin is attempting to form a bottom and as we mentioned in our recent podcast it is still a little too soon to call one.  However for those holding alt coins there may be some light at the end of the tunnel.

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4 Responses
  1. Satertrading

    Thanks. It would be interesting to see an article or two in your covered call decision process. Lots of people have lots of processes; since it is part of your investment strategy, it would be informative to understand your approach. Happy Holidays!

  2. amussic@gmail.com

    I guess you are holding all positions like Amd, Mpc, … and not selling even in the bear market. And looking to add to inventory as price moves lower and lower

    1. Andrew Gonci

      Hey Ales, I would be looking to add to AMD, and will simply look for a small rally in the market to sell MPC calls. I own a bunch of MPC already, so I do not mind owning more, as it pays a nice 3.25% dividend.

      With AI IoT and blockchain expansion over the next couple of years, chip stocks should recover. Salesforce, MSFT and the large cloud guys are expanding and with everything from your refrigerator to self driving cars, chips will be a good play and they are beat up well.

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