Institutional investors finally outnumbered the amateurs, and as a result of their bullish sentiment stock prices rose after 5 weeks of decline.
While the amateurs have been selling on fear of inflation lasting long-term, high oil prices and supply chain problems, the longer-vision institutions are focused on positives – continued good earnings reports, good economic data, stronger than expected retail spending, and declining unemployment.
Most of our stocks were risers, though modestly. Once again analytics guided us to hold positions in recent weeks so we captured these gains last week that amateurs missed, having already sold their positions recently at much lower prices.
