Market Musings 021124: Chartstorm
This week, given that we have just passed the end of the month, instead of writing a lot of text,
I thought I would simply post the long-term monthly charts (logarithmic format) that look the most interesting to me
from two angles:
- Markets, sectors and stocks with strong upwards momentum;
- Markets, sectors and stocks which look very undervalued, and which are starting to turn up after a long decline
with big rebound potential.
There has been a huge amount written recently about the US Presidential election. I would rather avoid this subject, as
I find that there is a lot of exaggeration of the potential impact on financial markets. In the medium- to long-term, the
choice of US President tends to have surprisingly little lasting impact on markets.
1. A potential warning signal for AI/Tech mania from SMCI Super MicroComputer
Doubts have surfaced about the accounting practices at SMCI, with auditor EY resigning...
SMCI also has a November 16 deadline from the NASDAQ exchange to submit a compliance plan to avoid suspension
2. So far, no big collateral damage done to the Magnificent 7 or the SMH Semiconductor sector... so far...
3. PAVE US infrastructure development ETF remains a good indirect way to play investment in AI/data centres
4. Global high dividend ETFs such as this VHYL Vanguard All-World High Dividend Fund perform strongly
Good for income-oriented investors
5. European Financials remains a strong momentum, high dividend yield sector that continues to recover...
6. In the UK, both BARC Barclays and NWG NatWest continue to perform well
But both are still very far from their pre-Global FInancial Crisis glory days...
7. In France, GLE Société Générale is finally seeing positive results from a deep restructuring program,
while UCG Unicredit leads the way in Italy, now potentially bidding for Commerzbank in Germany
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