Growth is the best long-term predictor of a stock market winner
Source: Invest In Assets 📈
Markets Up, Morale Down: A Summer of Disbelief by JC Parets, CMT
Throughout the summer, investors were wrong about stocks. And it was one of the greatest summers in stock market history. Below is the futures positioning among asset managers and hedge funds: the blue line represents the S&P 500, and the lighter green line shows you how underinvested they've been. They sold into the hole and never got the chance to get back in. This was a textbook V-bottom, and they're still not back in. This is one of those things that can help keep a bid underneath the market. Source: J-C Parets
Meme stocks continue to power higher since early-April lows, alongside other retail trader favorites; while classically-defensive baskets bring up the rear
Source: Liz Ann Sonders, Bloomberg
The S&P 500 is now up +31% over the last 5 months, the most since the 2020 pandemic recovery
This marks the third-biggest 5-month gain over the last 20 years. This is only 1 percentage point behind the post-2008 Financial Crisis recovery of +32%. Since the April 8th low, the S&P 500 has added a MASSIVE +$16.6 trillion in value. That is more than the size of every individual stock market in the world, except the US. Source: The Kobeissi Letter
Consensus is for cuts with no recession
Source: Goldman Sachs
Gold stocks have crushed every sector of the S&P 500 this year
Source: Tavi Costa, Bloomberg
Robinhood Forays Into Social Media
Robinhood is expanding beyond trading with the launch of Robinhood Social, set to debut early next year with a limited invite-only rollout before going wider. Users will be able to: 1) Post trades and follow other traders, 2) Discuss market moves directly in the feed, 3) Trade from within the app at no extra cost, 4) View verified P&L histories and even track trades of public figures via disclosures. CEO Vlad Tenev: “Robinhood is no longer just where you trade – it’s your financial superapp.” At its annual Hood Summit, the company also unveiled futures trading (S&P 500, oil, Bitcoin, gold), short selling, and overnight index option trading coming in 2025. $HOOD has already tripled this year and joins the S&P 500 on Sept. 22.
Korea's Kospi index at record high ‼️
👉 South Korea’s benchmark stock index Kospi surpassed the 3,300-point threshold for the first time in more than four years during early trading Wednesday. The global bull market is broadening.
