Uphill Rush 5 Game
My main focus is ending the year with accounts at highs and having plenty of cash on hand.
By JAMES "REV SHARK" DEPORRE
Stocks quotes in this article: ENPH, PING, AUPH, DDOG, I
Traders have been wondering for the past couple weeks if a bout of selling would hit before the end of the year. This morning there finally is some downside pressure but it looks more like many market players are tired at this point and not willing to keep chasing the indices higher.
There is a general belief that market players will forego selling in order to delay tax consequences but that impact tends to be overestimated. There are trillions in pension plays, 401ks and other vehicles that are not impacted by tax planning.
In addition, the delay in tax consequences is not a full year but just until the next estimated tax payment is due in a matter of months. With interest rates low and the potential risk of higher taxes at some point there isn't that great of a motivation to delay claiming gains.
I'll be looking for some pullbacks in recent favorites to offer some entry points as this positioning action continues. A few that I'm seeing already are Enphase Energy (ENPH) , Ping Identity (PING) , Aurinia (AUPH) and Datadog (DDOG) .
One new buy I added this morning is Intelsat (I) , but I'm not in any rush to add new exposure right now. My main focus is ending the year with accounts at highs and having plenty of cash on hand for some new opportunities and strategies in January.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
More from Investing
What Lies Beneath
What makes this market particularly frustrating is how the profound weakness is not reflected in the indexes.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.
Email sent
Thank you, your email to has been sent successfully.
Oops!
We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.
Please Join or Log In to Email Our Authors.
Email Real Money's Wall Street Pros for further analysis and insight
Already a Subscriber? Login
Source: https://realmoney.thestreet.com/investing/no-rush-to-add-new-exposure-right-now-15197935
Tidak ada komentar:
Posting Komentar