The Bull Market strengthened, let the naysayers say nay…
Magnet Investing Insights, from Jordan Kimmel
“The only place success comes before work is in the dictionary.” Vince Lombardi
Market Commentary:
The Bull Market strengthened, let the naysayers say nay…
• Being able to recite the potential problems in the world does not make you a good investor.
• The new leadership in the market has expanded to more than tech, or the Magnificent 7.
• Right now, there are no bad sectors- only bad stocks.
• If you are waiting for a pullback, ask yourself what actions you took during the last pullback.
• Tremendous activity in the bio- tech sector. I would not have any shorts here. Look for a slew of merger activity.
• The number of 52- week lows simply disappeared to almost none. The Advance/decline on the NYSE hit a new high, the NASDAQ snapped back. These are what we hope for as investors.
Economic data and market clues:
The big question- does the Fed lower rates by a quarter or half point? I think it does not really matter. They are late to move, and they know it.
The Fed’s path is much more certain. Chairman Powell was clear. Rates will be lowered, most now think by 50-75 basis points by year end.
More rates cuts are a lock for 2025 as well.
Nothing will be new in the manufacturing or housing data. Manufacturing is too weak, and housing has a shortage of supply.
Selected current holdings:
Magnet®: A lot of new breakouts
Green Brick Partners GRBK
Byrma Technologies BYRN
Immersion IMMR
FACTS:
Amgen AMGN
PulteGroup PHM
Leidos Holdings LDOS
For more information, contact us.
Jordan Kimmel | Founder
MagnetInvesting Insights
www.magnetinvestinginsights.com
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.
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