Price action is what really matters. Fundamentals are just a narrative.

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by GMG Research
Monday, Aug 14, 2023 - 13:19

Key Points

  • Once again, be patient on equity exposure

  • Energy is leading this market

  • Precious metals, energy and commodities are poised for a rally in the short-term

  • Remember, most “investors” are sheep and regurgitate the news like birds.

  • Follow us @gmgresearch on Twitter

  • Bitcoin is great long term


Equity correlations are breaking down (better for pair trading and the energy rally)

Our most important chart of the year. Still all you need to focus on.

Here is another way to visualize our point.

We still like equity (preferably tech), just be patient. $350 on QQQ would be an ideal spot.

Goodluck finding an affordable starter-home. Affordability at 16 year lows.

Bitcoin: -26% discount on GBTC. The spot Bitcoin ETF is coming soon (BULLISH)

Apple: The canary in the coalmine is still being sold. The trend is broken for now. Be patient.

Coupang! Up in down markets.

Although a sizable pullback, semis are overall weak and we like AMD closer to $95.

XLE: Brushing up against new highs

SUGAR pushing new highs too. People are stress ingesting sodas and tastycakes.

You witness diversification when you need it gone, all you do is lessen your returns in risk-on environments. “We found that bonds diversify stocks when stocks sell off, but stocks do not diversify bonds when bonds sell off.” -Beyond Diversification, Sebastian Page

Return always wants its risk payment. NOT INVESTMENT ADVICE.

Enjoy the alpha.

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