ProInvestor Insights & Magnet Insights: What to Look For
Preparation for the Week of September 30th
“If I had eight hours to chop down a tree, I’d spend six hours sharpening my ax.” Abraham Lincoln
Market Commentary:
The markets are ignoring risk, but that does not mean you should...
• Anyone who relished the 5% yielding CDs while waiting to get back in lower is now faced with rolling over at 3%.
• Most momentum indicators are gaining strength. Do not blame the market for any underperforming ideas in your portfolio.
• The Advance/decline on the NYSE hit a new high, the NASDAQ snapped back. The 52-week new-high/new-low numbers look even better.
• The infrastructure buildout is an established and much talked about trend now. It is real, and there are a dozen market leaders in this area. The problem is most names are currently over-bought.
• It is Fall clean up time. Sell lagging and sagging companies. Only strong and healthy companies belong in your portfolio.
• Tremendous activity in the bio- tech sector. I would not have any shorts here. Look for a slew of merger activity. I am ready for one.
Economic data and market clues:
The Fed’s path is more certain. Do not worry about the 50 basis point they made as concerning, they were late moving, and they knew it.
Fed Chairman Powell is now clear. Maintaining a restrictive stance right now makes no sense and the Fed understands that.
Short term interest rates will go lower, I think by another 150 basis points by the end 2025.
Maybe it is time to stop focusing on The Fed and own shares in the best companies in the best sectors.
Selected current holdings:
Magnet®:
ACI Worldwide ACIW
InterDigital IDCC
GeneDX Holdings WGS
FACTS:
Generac GNRC
Green Brick Partners GRBK
Leidos Holdings LDOS
For more information, contact us.
Jordan Kimmel | Founder
MagnetInvesting Insights www.magnetinvestinginsights.com
Please remember to subscribe to the ProInvestor Insights Newsletter. Each monthly edition is complimentary and full of exclusive and invaluable information from many of Wall Street’s most recognizable experts. Simply click here to subscribe:
Disclaimer
Jordan Kimmel is the Managing Member and Portfolio Manager for The Magnet Fund. Securities discussed may be held in portfolios managed by The Magnet Fund. Members of the staff of Jordan Kimmel’s Magnet Fund may hold positions in some or all the stocks listed and discussed in this publication. Reference to these securities should not be deemed as an understanding of any future position, buying or selling, that may be taken by Magnet. All investments are subject to a risk of loss. Investors should seek their own investment advice and conduct their own investigation into the suitability of investing in any of the companies mentioned. Readers using this information are solely responsible for their own actions and invest at their own risk. MAGNET is a registered trademark.
© 2024 MagnetInvesting Insights