by Dan Gibby | Aug 16, 2020 | ETF Past Letters
Same story, another week. The disconnect between the stock market’s strength and the real economy is difficult to understand. But as we say, “It is what it is.” With very bearish sentiment, the reward-risk of being long is starting to look fuzzy. And with the...
by Dan Gibby | Aug 9, 2020 | ETF Past Letters
I’m shocked at the market’s strength last week in light of the ongoing economic problems and the failure of Congress to negotiate a fifth stimulus bill. The market appears to be pricing in an expected deal and a recovering economy. The Nasdaq set another record, and...
by Dan Gibby | Aug 2, 2020 | ETF Past Letters
The Fed’s extraordinary pumping of $5 trillion into the economy in three months was greater than the nominal GDP of $4.85 trillion – a record! That, along with low interest rates, have put a floor under the markets despite all the bad news. Blowout earnings from AAPL,...
by Dan Gibby | Jul 26, 2020 | ETF Past Letters
The Index ETFs were all down last week, with the QQQ getting hit the hardest, down 1.3%. Last week we did warn about the QQQ weakness and bearish reversal, saying that it “failed to retrace over 50% into the Bearish Wide Range Bar (-WRB), that shows that some...
by Dan Gibby | Jul 19, 2020 | ETF Past Letters
The Nasdaq has been on fire this year, up 17% to date while the S&P is about flat. With the QQQ getting hit the hardest last week (-1.1%), and failing to retrace over 50% into the Bearish Wide Range Bar (-WRB), that shows that some traders are taking profits on...
by Dan Gibby | Jul 12, 2020 | ETF Past Letters
The Nasdaq continues to show amazing strength, making multiple new all-time highs, in spite of increasing coronavirus cases, many states rolling back openings, and looming bankruptcies in struggling industries. Firm exposed to remote working, cloud software, and...
