It was a rough week for momentum traders across the globe, well at least for me. It may have been my worst week trading this year as I refused to stop out of positions I adore down here like $ABNB, $COIN, $SOFI ect.
It’s seems I’m getting slower with age, hesitant to make moves in the market, but sometimes that exactly what is needed. The Fly is crushing it inside of Stocklabs, tagging stocks left and right, the main factor to his success, as any trader will tell you, is to not take the big loss. Cut and run. Some of you guys need to do more cutting and running, including myself.
For the week, utilities rule the market, which is always a defensive sign. We also had the old Covid plays hitting the scanner left and right all week. Could we really be heading into another lockdown? I’d normally laugh at such question, but the cases are rising and doctors in Louisiana are saying Delta is coming for your children. This was enough to send my wife into a frenzy once again, heading straight to SAMs to stocks up on toilet paper. She did tell me the shelves are already bare, I told here it’s likely due to the child tax credit checks that came out this week. Indeed, here we go again…
DEFENSE
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Enjoy the weekend everyone, here are your top rated stocks, with $MRNA on top:
