Weekly Note Preview: Gaming The CPI
In this weekend's 375th edition of Turning Points we have an 11 page note focused primarily on gaming this week's CPI report as the markets remain around key levels. What follows is a brief preview from this weekend's note: There are a lot of ways to lose money in this market. In going through the charts this weekend, this single fact jumped out more than any other. Investors are increasingly concentrated in just a few names. They also tend to gravitate towards the best performing sectors, whether real estate related, energy or otherwise. This leaves an enormous number of names that are essentially left for dead, delivering glimmers of hope at random intervals, while persistently grinding towards below average return territory. 2023 has been a year where it has paid to do two things specifically: 1. Be extremely selective about which names and sectors in which you are invested. Being that losing money in this market is such a readily available feature, being diversified is only a ticket towards bringing one closer to performance mediocrity. 2. Maneuver allocations in short-term intervals so as to avoid seemingly random drawdowns like what the markets have faced since the July highs and what they faced previously, at the February peak to the March low. Normally, in a standard bull market, you want to ride out the peaks and valleys, as you do not want to be shaken out of your positions. Also, you want to be diversified as bull markets typically have a “rising tide lifts all boats” effect. 2023 is something different, however. As anomalous as this market has become, despite the fact that there is some certainty given the understanding of long-term bull market cycles, it wouldn't at all be surprising for this market to deliver downside that could be punishing in nature due to the overall slippery conditions we find ourselves facing. With that said, it remains extremely important to bear in mind that being selective about where we are invested and continuing to maneuver around potential trouble spots has and will continue to work, potentially insulating us from anomalous circumstances involving sudden downside in the markets during the time ahead. To view the entirety of this weekend's note, you can subscribe by clicking here. Zenolytics Turning Points is 300+ editions in and only getting better. Find out why institutions and individual investors have come to depend on our service through each and every type of market environment. Click here for details. Disclaimer This website is for informational purposes only and does not constitute a complete description of our investment advisory services. No information contained on this website...
Weekly Note Preview: There Is Some Short-Term Uncertainty, However, Given How, When & Where The Markets Are Consolidating, The Next Steps Will Be Abundantly Clear In The Time To Come
In this weekend's 373rd edition of Turning Points we have a 13 page note discussing how short-term uncertainty is set to turn into absolute clarity for the remainder of 2023. What follows is a brief preview from this weekend's note: We find ourselves, once again, in one of those spots where our next steps will be abundantly clear due to the nature of how, when and where the markets are consolidating. However, until we observe how the current situation develops, jumping to premature conclusions about the future direction of the markets will be a sub-optimal use of capital, with what are likely disappointing results. The current market has the look and feel of one that would be content to chop around for the next week or two, at least. In that situation, we want to be buying the dips, in a handful of reliable squeeze candidates in order to play the upside. Over the intermediate term, past the middle of September into the beginning of Q4, the pressing desire of portfolio managers to make up for performance lag during 2023 to date will certainly be a catalyst for renewed upside momentum in the markets. What will also be a catalyst is the Fed pausing at the September meeting, which is currently looking like a high probability bet according to Fed Fund futures. To view the entirety of this weekend's note, you can subscribe by clicking here. Zenolytics Turning Points is 300+ editions in and only getting better. Find out why institutions and individual investors have come to depend on our service through each and every type of market environment. Click here for details. Disclaimer This website is for informational purposes only and does not constitute a complete description of our investment advisory services. No information contained on this website constitutes investment advice. This website should not be considered a solicitation, offer or recommendation for the purchase or sale of any securities or other financial products and services discussed herein. Viewers of this website will not be considered clients of T11 Capital Management LLC just by virtue of access to this website. T11 Capital Management LLC only conducts business in jurisdictions where licensed, registered, or where an applicable registration exemption or exclusion exists. Information contained herein is not intended for persons in any jurisdiction where such distribution or use would be contrary to the laws or regulations of that jurisdiction, or which would subject T11 Capital Management LLC to any unintended registration requirements. Visitors to this site should not construe any discussion or information contained herein as personalized advice from T11 Capital Management LLC. Visitors should discuss the personal applicability...