Buying Tech in a Tech Led Bull Market

JC Parets
November 9, 2023

Relative strength can be really powerful because stocks often tip their hand before making their big moves.

When the overall market is under pressure and a stock is making new 52-week highs, something is usually going on.

We're seeing it in Uber, which we just bought yesterday.

UBER is making new 52-week highs and is currently valued at over $100 Billion. Meanwhile, people keep telling me stocks are in a bear market.

Those people must be looking at LYFT instead...

Historically in bull markets, Technology stocks almost always have a tendency to lead.

This time is no different.

Look at all the sector returns since the S&P500 put in its final low last October:

Does this look like a bear market to you?

Not to me.

We're buying stocks. And it's working, as you can see here.

Most recently we took advantage of the massive collapse in volatility over the past couple of weeks to buy cheap call options in UBER.

We like the March 60 Calls here for $1.55

Check out all the details and how we want to take profits here.

JC

 

 

 

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