Joel Elconin – Buy The Dip Continues For Markets, Small Cap Considerations, Inflation Data Upside Surprises
Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of the PreMarket Prep website joins us to discuss the continue strength in the broad averages. In the face of lower rate cut expectations and a bounce in yields the broad averages continue to move higher. The S&P has been up 14 of the last 15 weeks (this week is a toss up heading into the Friday close).
We hear the bears point to weak breadth, focused on the lagging small caps so we spend some time discussing the IWM chart and set up for the small caps. We also recap the inflation data from this week that was higher then expected.
Druckenmiller Dumps Alphabet, Amazon and Broadcom, But Nvidia Remains Largest Holding
Joseph Adinolfi – Market Watch – Feb. 14, 2024
“Duquesne Family Office, the investment vehicle belonging to famed macro investor Stanley Druckenmiller, dumped shares of Alphabet Inc., Amazon.com AMZN, and Broadcom Inc. AVGO, while scooping up shares of beaten-down gold miners Barrick Gold Corp. GOLD, and Newmont Corp. NEM, according to a Wednesday filing with the Securities and Exchange Commission.”
What One ETF From the Dot-Com Era Can Tell Us About Tech Investing Now
Some of the same market dynamics—and fundamental questions—remain
By Jack Pitcher – The Wall Street Journal – Feb. 14, 2024
“Technology companies are powering the stock market ever higher, a few widely held stocks are responsible for most of the gains, and Microsoft MSFT is the U.S.’s most valuable company.”
“The year is 1999, a date that also marks the debut of the Invesco QQQ Trust exchange-traded fund, known as QQQ. Its launch transformed the investing world in some ways. Yet tech investors still face some of the same fundamental questions—and market dynamics—25 years later.”
“The fund, once synonymous with the dot-com boom and bust, has grown into a $250 billion behemoth. It is the primary tool used by investors big and small to gain broad exposure to big tech stocks…”
https://www.wsj.com/finance/stocks/the-qqq-fund-now-a-250-billion-behemoth-turns-25-c4e46710