Pro Update 10-21-24

by Lucas Downey All, MAP Pro, Stocks

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Lucas Downey
Lucas Downey
Lucas is co-founder of MoneyFlows. His full bio can be found here. Prior to MoneyFlows, he was Head of ETF Sales at Cantor Fitzgerald & SVP of Derivatives at Jefferies, LLC.

3 Comments

Hi, Lucas, Thanks for clarifying the overbought BMI chart, #2, with its historic declines over 2 months and providing data that focuses on the potential long-term gains in a bull market into 2025 and forward. If the BMI does pull back suddenly, then, that would cut right into November, our best performing month of the year. But, I am optimistic, especially, with the expected rate cuts and the excitement about the forthcoming election. I agree with you, I think it will be "a'ight." Being from Louisiana, we know you will know what that means. I smiled when you invited us to become "disciples of data." I am on board with that. Finding the Map Signals Top 20 and Top 50 very helpful as I make decisions to hold or reduce positions. No Big Money flowing in? I will probably consider reducing those Small Caps stocks and take my profits or reduce my loses. On to Large Cap stocks. NVDA with no Big Money inflows for over 90 days, continues to climb with moments of pullbacks followed by refreshing and resurges. What a stock! So, share your thoughts about these Large Cap stocks that have zero Big Money buys over the past 90 days. Most notable in my portfolio are ADBE, AMAT, ASML, CDNS, KLAC, LRCX, SNPS reported lower guidance than expected through Q4 2024. It amazes me that investors punish great stocks for transient events when their past performance has been so strong. I doubled down on ASML and bought back into NVO on that dip. My husband and I always love to read and study your work and appreciate your insights and experience in the market. Patricia and Jeffrey R.
Hey Patricia - Appreciate the nice comments. It's an interesting year to say the least. My hunch is we'll get a shallow dip in the next week or 2 but let the data guide us. I am just reliving the last 2 elections in my memory and I recall quite a bit of volatility into the vote. November started off the bull market last year, so I'd expect firming prices in Nov if we get any pre and post election wobbles. Earnings thus far have been solid, so we know there are winning stocks out there. For your list of names all of these are big - cap tech (high quality too a'ight!). They are part of the broadening rally under the surface with large-cap tech under pressure as cyclical areas gain. ASML is a stalwart and I assume a recovery will come at some point. They are a pillar in the AI buildout so I believe a lot of fear is already priced in. As always, thanks for the nice words and remember no personalized advice! Take care
Good Insight always appreciated.

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