The U.S. stock market is very expensive and narrow, led by large-cap tech with S&P500 range-bound between 3233 and 2965, a 9 percent range, closing today at the upper 1/3rd of that range. Not a fan, and a dangerous market, in the opinion of the GMM macro heads.
However, as our stock-picker extraordinaire, Coach Carol, says you “gotta ride this gravy train as long as it’s running.” Nobody calls the top, nor the bottom, or knows the future.
Her long-term perspective as an investor is uniquely coupled with the discipline of a trader as we watch her practice the mantra,
“Cut Your Losses Short & Let Your Winners Run”.
Her performance in her personal portfolio speaks for itself. She has, however, been raising a lot of cash recently.
Key Levels to watch (underlined):
Upside – 3165.81 and 3184.15
Downside – 3142.93, 3130.01, 3109.33, 3103.77
Hat Tip: @Not_Jim_Cramer