This is the video recording of the February 2021 Conference Call.
RPP Report: Review. Preview. Profit. (02-15-2021)
From the desk of Steve Strazza @sstrazza
At the beginning of each week, we publish performance tables for a variety of different asset classes and categories along with commentary on each.
Looking at the past helps put the future into context. In this post, we review the absolute and relative trends at play and preview some of the things we’re watching to profit in the weeks and months ahead.
We continue to harp on the risk-on themes that support our bullish macro thesis.
Rotation down the market-cap scale, commodity strength, and defensive alternatives making new relative lows have been some major themes we continue to see play out.
As participation continues to expand in both the US and abroad, we’re being given more and more avenues to position ourselves in order to profit in the current environment.
While Tech and Growth still remain the secular leaders, even the perennial laggards such as Financials and Energy are offering us favorable opportunities from the long side these days.
Bulls are flushed with options to make money in this market, while the list of talking points continues to dwindle for bears.
In what’s become a very favorable trading environment, we want to focus as much on the risk profile of the bets we employ capital on as anything else. Identifying and leaning on highly skewed risk/reward setups is the best way to put our money to use right now.
“India Indicator” Better Than “Buffett Indicator”
Is it Time for the Laggards to Shine?
From the desk of Steve Strazza @sstrazza
If Bitcoin’s run to $50,000 or the latest YOLO stocks aren’t too distracting right now, you might have noticed Crude Oil just registered new 52-week highs for the first time since fall 2018.
Or maybe you’re ahead of the curve and caught our post about the Energy Sector experiencing what looks like a bullish initiation thrust just a few weeks ago.
Or perhaps you saw Financials just closed the past week at fresh all-time highs… finally breaking out after almost 15-years of no progress!
On top of all this action, the US 10-Year Yield is also pressing on its highest level in almost a year.
It’s clear that more cyclical stocks and economically sensitive Commodities are taking on leadership roles. We’re in quite the risk-on environment.
Considering the evidence we just listed, it’s finally time to address the elephant in the room…
Cupcakes and Pizza are Delicious
Mystery Chart (02-15-2021)
From the desk of Steve Strazza @sstrazza
Another fresh Mystery Chart!
What we do here is take a chart that’s captured our attention and remove the x/y-axes as well as any other other labels that’d help identify it. This chart can be any security of any asset of any timeframe – on absolute or relative basis.
Maybe it’s a ratio, a custom index, or maybe price is inverted. It could be all three!
The point is, when we aren’t able to recognize what’s in front of us, we put aside any biases we may have and scrutinize it objectively.
While you can try to guess the chart, the point is to make a decision…
So let us know what it is… Buy, Sell, or Do Nothing?
The Minor Leaguers (02-12-2021)
From the desk of Steve Strazza @Sstrazza
In a further effort to identify individual equities that fit within our larger Macro thesis, we recently rolled out our latest bottoms-up scan: “The Minor Leaguers.”
We write a post every other week where we outline some of our favorite setups from the watchlist.
We’ve already had some great trades from this universe and couldn’t be happier about the early feedback.
Moving forward, we’ll be rotating this column with “Under The Hood” each week.
In order to make it onto our Minor League list, you must have a market cap between $1 and $2B. There are also price and liquidity filters.
Then, we simply sort the stocks by their percentage from new highs. Easy done.
And what better time than now to launch a small-cap focused column!? We’ve seen very strong evidence of a structural rotation down the market cap scale, suggesting a new period of outperformance from small-caps in the coming months and quarters.
This column is a great way to take advantage of that trend. Let’s dive right in!
Maybe YOU’RE Overbought
What overbought conditions? We haven’t even broken out yet. Take a look at what’s actually going on!
After 14 years of no progress, Financials just went out at a new all-time high!
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