The Bulls Are Back in Town!
This week we finally saw the follow-through we’d been looking for in the market… That’s right, the bulls are back!
The stars of the show were undoubtedly tech stocks. The Nasdaq was treated to a few days of consistent green following multiple weeks of chop.
On Wednesday and Thursday alone the Nasdaq climbed about 3%!
It’s very important to see that kind of follow-through after long periods of sell-off and chop…
This can help return investor confidence and get buyers to step up and push things higher.
So now we are kicking off April in the green with major averages seeing all-time forever highs, like the S&P hitting 4,000 for the first time!
4,000 in the S&P had been a target over the past few months, and we’ll be looking for continued upside now that we’ve arrived.
All that fear over rising rates seems to be in the rear view mirror now!
Bottom line: Don’t count the bulls out just yet!
Keep it In the Money,
Trading Tip of the Day: Be Careful Not to Chase
It’s the start of a new quarter, a new month, and the markets look like they’re primed for a big move higher!
Things are looking quite bullish for trade this Spring, but it’s important to remember not to just buy up everything you see expecting it to go higher.
It’s easy to get excited when you see that every stock on your screener is green, but it’s critically important to maintain the same due diligence you do when the markets are choppy.
Especially if you’re investing for the long term, you don’t want to pick stocks that are only going up because the rest of the crowd is.
Take a look at what’s happening in the market and what trends have been working lately. Put together a manageable watchlist of stocks that you like and try to buy in at a decent entry.
We’re not doing anything different than we normally do, but by keeping that consistency your trades will pay you back in spades.
So keep looking for signs of healthy growth and attractive breakouts, your portfolio will thank you!
— Greg Guenthner