Coming into this week, I thought the best thing for the stock market was consolidation to gather strength for a push higher. I thought there were downside risks and that bulls were not in control just yet. Hence the stock market strength this week is certainly more than I anticipated. However I only have one position in the stock market and that is long Carvanna from $170. Really I have been pounding the table on the bond market via the long term bond ETF (TLT) for some time. And those tripled up positions continue to reward me very well.


I am also long COIN, a crypto play, and it is underwater. Going forward, it is starting to look more and more like the market can ignore any news and accelerate higher. We look to be in for a few weeks, maybe a few months of strong stock markets. In TLT support is 95 and resistance is 99. It may take more than one attempt to penetrate 99, so be guided by that.
Thanks,
Joe
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