Stocks are higher this morning following last week’s whipsaw action. I have a sneaking suspicion the market will continue to mess with our minds this week. Typical late July trading… even in the times of COVID.
The market quickly turned south after a soft open. The bulls appear AWOL as the weekend approaches. While this isn’t exactly an ideal situation for our open positions, we can hang in there and see how the averages close this afternoon.
Once again, the Nasdaq screamed higher yesterday, leading the averages as popular tech stocks exploded to new highs. We don’t want to force anything in this environment. Our best bet is to let the market come to us...
We’re staying in cash once again today. It certainly feels like the calm after the storm right now. We will see if it can remain stable through the afternoon and into the closing bell. Regardless, there’s one thing way to come out on top in times like these.