Hi traders,
Unfortunately for tech and high-beta names, we are seeing momentum and flows into oil and the dollar, which is not good news. As we said weeks ago, we restructured portfolios toward more solid mega-cap companies and reduced exposure to the speculative high-beta names that have no earnings. We added a couple of new names to long-term that we will discuss below.
Today there was bad news from Morgan Stanley, and we see some potential short trades on certain names in the financial sector.
In addition, we will post SPX levels today along with some trade ideas. Remember, there are names that are doing very well if you are flexible and shift your focus away from semiconductors and memory names.
Let’s begin!
