First of all, we hope everyone enjoyed that epic hockey game on Sunday. It's definitely one of those games that will be remembered for ages. Now that the Winter Olympics are over, does it mean many traders will be focusing more on the trading screen as oppose to the TV screen? We hope so!
In fact, there's really not much we shouldn't like about this market. Time after time again, this market is able to withstand some viscous pullbacks that could've led to the beginning of a "bear" trend. As we climb higher over time, the pace of the climb will definitely be slower and a skeptical view will grow ever louder. Such is the case we are facing right now. We have lots of uncertainty ahead of us that can give this market many surprise turns. Uncertainties from our Economy, the Economies abroad, and as well as the current administrations' new initiatives are all some of the things we just cannot predict well at this point. One thing we can do though, is to carefully analyze the recent trend to see where we might be headed. The most recent earning quarter is nearing it's end and we have to be prepared for the lack of corporate news in the next little while. What many market participants will do is to use the most recent trend to determine if it's worthwhile to be involved in this market or not. We are definitely in the camp that market is in the early stage of a recovery and we have to absolutely be part of it.
Market ended the week at SPX1104 and in our honest opinion, we like to see this market hover around this area for a bit longer. The recent slide is still fresh on the back of people's mind and any weakness in the market can definitely invite quick selling. However, this market is about as resilient as one can ask for and we have full faith that it can pull out of whatever trouble it gets into. The plays on our most recently updated shadowlist represent some of the names that are widely followed by this market. It's not a coincidence though. We picked those plays because we feel they have the best representation of an Economy that's in recovery.