After declining Monday, stock prices remained on an upswing the remainder of the week, continuing last week’s uptrend.
Still plenty of negative economic news and data, but that was offset by Fed comments (after their expected .75% rate hike) on Wed that maybe many more hikes to rein in inflation are not going to be necessary. Investors took this as a positive sign the recession might not be as bad or long-lasting as anticipated (and yes, everyone agrees the U.S. is in a recession except for Biden and his MSM sycophants).
With so many short-to-long reversal trades among our stocks in recent weeks most of our positions are suddenly long again, in time to profit from some substantial price uptrends already underway. Still holding a few short positions that have yet to reverse.
Seeing so many charts where buyers appeared in the recent 3 – 4 weeks, despite predominantly negative economic news. Most small investors would not have noticed this development if they base their investing activity solely on news media reporting. Only by analyzing charts and having a database of 19k historic mathematical outcomes are we able to notice and react to this sudden change in institutional investor sentiment in time for some good long gains.
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