Similar to last week, there aren’t any moves you need to make. The broad stock market has continued to rise, though things look a little shaky today.
A few of our previously market-beating positions have pulled back a bit in the past week or so. That includes: Sprouts Framers Markets (Nasdaq: SFM), Illumina (Nasdaq: ILMN) and the SPDR S&P Biotech ETF (NYSE: XBI).
Read MoreThere aren’t any moves you need to make today. I still believe our six open positions are well-matched for the market we’re in. If you missed my position updates last week, you can review them here. Let’s just remain patient and allow these sector trends to play out. And, as the market’s leaders and laggards continue to shift around over the next week or two, I’ll be on the lookout for our next high-probability trade opportunity.
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Read MoreSprouts Farmers Market (Nasdaq: SFM) reported earnings yesterday after the close. As I had speculated, it seems on track to “go a lot better than the Q1 earnings calls of 95% of the others.”
Read MoreConsider that XLV is currently only 3.5% below its February 19 peak close. The next two, Consumer Staples Select Sector SPDR (NYSE: XLP) and Technology Select Sector SPDR Fund (NYSE: XLK), are still down around 10% … and the rest of the major U.S. sectors are down in the teens and 20s. And then there’s the energy sector, which is still more than 30% off since the February 19 broad-market peak.
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