Market Report Jan 29 2021

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Market Report for Jan 29 2021

No matter the situation, a sound investment eventually pays off.

Market Trend:
Up

Market YTD:
Russell 2000 +6.7% YTD
Nasdaq Composite +3.5% YTD
S&P 500 +0.8% YTD
Dow Jones Industrial Average UNCH YTD

Market Volume:
NYSE Vol: 1.4 bln (A)
Nasdaq Vol: 9.6 bln (A)

New Swing Positions:
None

Comments:
The market opened slightly higher and the market recouped some on Wednesday’s losses but the shakeout may not be complete. We should expect further tree shaking.

The headlines are all about the short squeeze, GME, AMC etc and not about AAPL, the worlds biggest company having a blowout quarter. We are at the euphoric stage of the market so while this buzz continues, the markets should be considered unstable near term, thought long term they are still ok. Remember, the positions we started taking in March/April 2020? These were alongside the big dogs and those positions are intact. Now we are at the euphoric stage some 10 months later when everyone and their best friends dog think they can all make money from the markets. So consider this a little worrying.

We have bought some positions for our Growth fund but will continue to stand aside on our Swing fund while there is noise surrounding this market.

Let’s go trade!