June 2023

  • 9:25 on 6/26/23 – Bears Trapped

    9:25 on 6/26/23 – Bears Trapped

    The Week Behind This week, the major indices experienced a ~1.5% decline as Jerome Powell testified to Congress at the Biannual Report on Monetary Policy. While some attribute the action to headlines from the event, I hold a different perspective. Powell’s testimony was consistent with the June FOMC Meeting; therefore, no new information was presented…

  • Let’s Not Make News Out Of Nothing

    Let’s Not Make News Out Of Nothing

    Markets look a little sluggish today as Powell meets with the House for the first day of the two-day Biannual Report on U.S. Monetary Policy. Tomorrow, Powell will conclude the biannual event with a meeting with the Senate. While some attribute today’s weakness to related headlines, I disagree. In my opinion, Powell’s prepared remarks and…

  • 9:25 on 6/20/23 – F**k the D*ts. I Like St*cks

    9:25 on 6/20/23 – F**k the D*ts. I Like St*cks

    The Week Behind The rally forged on as the Fed delivered the highly anticipated hawkish pause, and corporate earnings verified more AI-winners. These developments contributed to the market’s momentum and added fuel to the fear of missing out (FOMO) sentiment. Although Friday’s session was turbulent, all major indices ended the week with gains. The NASDAQ…

  • 9:25 on 6/12/23 – The Shoe Is On The Other Foot

    9:25 on 6/12/23 – The Shoe Is On The Other Foot

    The Week Behind The performance of the major indices reflected an inconsequential week devoid of influential earnings or economic releases. Although the S&P 500 registered a new bull market close, marking a 20% increase from the October low, it only recorded a modest gain of 0.39% for the week. The Dow advanced by 0.34%. The…

  • Revisiting a Debunk Thesis

    Revisiting a Debunk Thesis

    At the beginning of the year, the consensus was that the stock market would experience a challenging first half followed by a strong second half. Put another way, the bear market would extend into the first half of 2023 but eventually give way to a new bull market in the second half. While I do…

  • 9:25 on 6/5/23 – Interpretations of the Performance Gap

    9:25 on 6/5/23 – Interpretations of the Performance Gap

    The Week Behind Benign labor data, solid corporate earnings, a surprisingly clean debt ceiling resolution, and dovish Fed reporting created a “goldilocks” feeling in the stock market. Notably, the rally’s breadth expanded beyond the technology sector, encompassing other parts of the market that have struggled in the past three months. This broadening was reflected by…

  • Stick to the Strategy

    Stick to the Strategy

    Veeva Systems (VEEV) didn’t disappoint investors with its latest quarterly report, which was released last Wednesday. If you read the 9:25, then this one would have been on your radar. On Monday, I wrote… VEEV offers industry cloud solutions for life sciences companies. Although it hasn’t participated to the same extent as other cloud companies…