It’s been a busy week. My apologies for going through a Fed day without a blog post. Quite frankly, I wanted to see today’s action before I had anything to say about yesterday.
Yesterday didn’t seem to pack any significant substance under the surface…unless you were long energy stocks. Everything else seemed mixed.
This week I spent a lot of time reflecting on what all my messages have been here on iBC this year, in order to put together my list of predictions for 2017. Unlike the rest of the crowd, my message remained constant dating back to fall of 2015. “This all resolves higher, buy stocks.”
In Boot Camp Tuesday, we talked about what a Trump presidency means for stocks. We looked at very long term charts of the stuff that’s had the most significant reaction to the election results. If you want a lay-up investment approach to the next 2-3 years…buy those stocks into weakness. The long term charts of these stocks are of the most compelling charts I’ve seen. These are also some of the most underowned stocks out there as well. As we looked at last night, that strategy has beaten the market handily over the last several years.
On the day, I picked up some $CTRP…looking at $MTCH and $FTNT as well.
With there being no gaps on the day today, I don’t think the pain trade discussion we had in After Hours with Option Addict is relevant here, FWIW.