If you’re not a very good stock picker, I advise you to be true to yourself and either join the hall of men and gentlemen inside Exodus (now including The Pelican Room) or bear witness to the greatness that is The Option Addict in After Hours with Option Addict, which is a nightly summary of Jeff’s take on the market, including his top ideas.
For the better part of the past few months, markets have been ripping to new highs. Yet, at the same time, very defensive sectors have been leading.
For example, gold stocks surged by 13% last week, while the SPY “ripped” higher by 0.2%.
Look at some of those gains, courtesy of Exodus.
Year to date, silver stocks are up 241%. Gold stocks are up 182%. Foreign utilities are up 62%.
Aside from steel stocks, which are benefitting from a potential Trump presidency and duties applied to Chinese steel, the vast majority of the top sectors are in precious metals, REITs or utilities.
On the downside, solar stocks are off by 37%, tankers down 30%, and biotechs have been beaten about the head by 24%, year to date.
As much shit that is discussed, GOOGL is only up 1.5% for the year. AAPL is flat. MSFT is up 3.5%. And AMZN and FB are dominating the field with +12% and +18% gains, respectively. The biggest mega cap gains are in defensive stocks like T, WMT, JNJ and VZ. Some of the old aristocracy, including NKE, GILD, AGN, BIDU, GS and WFC are all down double digits this year.
Who needs a bear market with a bull market like this?
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Holy smokes, what’s the deal with tankers price action and all of the over production/supply issues? Banks?