To The Moon

Tech(ing) a breather

Tech stocks have performed admirably well towards the end of last year. And they carried the indexes along with them especially names such as Microsoft and Apple which carry such heavy weightings in the indexes, where they go, the indexes follow. 

As such I make it a point to follow them closely so as not to get bamboozled. The other reason is that I believe tech will do well going forward in the long run. In the short term, I think they are a bit long in the tooth though. The technical patterns indicate they are in the last stretch of the ongoing wave upwards. These patterns do have the trend on their side though and they can still stretch especially on momentum. And momentum is on their side despite the overall pattern. 

As such I believe the market still might buy the dips and if the market bottoms and rally upwards into the end of the month, I will take that with caution and sell into strength or possibly even lay on the hedges. 

I believe better prices are ahead towards the middle to late part of the year for a buy and hold approach.

Disclaimer: Please kindly do your own due diligence as this is a sharing article and in no means financial advise. I am just sharing my opinions and thoughts.

Thanks for reading my commentary. Hope it helps!

Stay safe! 😊

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