All-Time Highs on The Three Major Indices
By Danny Chung | February 8, 2021
Putting my #finance hat on...
Today, the three major indices – #DJIA, #SP500, #Nasdaq – are climbing to all-time highs on the #stockmarket. We continue to see plenty of #forwardoutlook in big names, particularly those that have pent up demand when the #reopening happens – think Disney ($DIS) who gained a close to 5% today with a bit more after-hours.
The #chipshortage is upon us and the influx of #EV’s ($GM, $F, $TSLA, $NIO and many others) and other electronic devices will continue to increase demand for those precious chips. $AMD, $NVDA, and $TSM had some decent gains today at 4% to 6%.
I’m still very bullish on: #Fintech stocks continue their streak, so is #cleanenergy ($CLNE is up 38% today! – up almost 600% in the last 3 months!). Double digit gains across clean energy ETFs as well over the past 3M. I'm also bullish on #Cybersecurity $NET $ZS $PANW $OKTA, and #Healthcare/#Genomics. I see you Chamath Palihapitiya and Cathie Wood #ARK #ExponentialGrowth #SocialCapital #IPOE #IPOF.
Oh yeah, and $BTC is peaking at ~47k after the $1.5B from the #Musk himself. As much as I despise all those Bitcoin people messaging me here on LinkedIn (please stop), BTC is a good hedge against the market as there is historically a low correlation between the two. We'll probably see more institutional backing ($MSTR, $SQ, $PAYP had invested sizable amounts prior to $TSLA), and rally's as we see that 21m dwindle - again, Chamath and Cathie were bullish from early.
However, with all this #optimism and #euphoricbuying, there is still that “B” word on the back of my mind: #Bubble. Several analysts have expressed their concern on this issue and the possibility of a #correction/#crash is inevitable. Time to take some off the table.
But the two things I see that are keeping this bubble from popping (at least for now) are the continually low interest rates (and people are increasingly investing on margin – please don’t lose your shirt, don’t invest what you can’t afford to lose) and the possibility of a stimulus coming soon.
Disclaimer: I’m not a financial advisor, I just like to follow the markets, dab in (some) DD and simply put, I just like the #stock(s).