Good start to the new year, as we finally saw a week in which most prices rose steadily and significantly – the first of its kind in a long time. This is what happens when sentiment among all investors – amateurs and professionals – is in agreement, which had been lacking for months.
Interest rates remain the driving force, and bond market prices/yields suggest investors are thinking the need for additional rate increases may end sooner rather than later, as inflation seems to have at least peaked.
Most of our stocks were among the risers, which either increased our long gains or at least diminished our losses. Good to see more “green” highlights appearing on our list, indicating increasing profits. More of our stocks are undergoing a reversal from short-to-long, providing some trading opportunities this week, though some remain short.
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