This Week 2021/6/19
Information Technology is still the main trend.
After one and a half year of COVID economic lockdown in the world, vaccine is getting the welcome letter from people. Confirmed cases drop sharply in high-vaccine countries, like Israel, US and UK. People start to talk about the economic reopen. Airline stocks, oil stocks, financial stocks regain the fuel and bounce back in a revenge way. Morgan Stanley management even invites their employees back to office instead of WHM(work from home). Meanwhile, IT stocks lose its steam and correct for some range of
Tesla 900->546. (-39.3%)
Apple 144->116 (-19.4%)
TSM 141->107 (-24.1%)
So what’s the next? Will IT stocks keep on its bullish trend afterwards?
Answer is YES, it will keep its bullish path.
Why? Since WFH is the new norm that has been set up during pandemic time, it is very hard to get back to before.
Think about it, if you can use SNS/Google Meeting/Zoom to start any meeting anytime, while approve or sign any documents via smartphone APP, decisions can be made in seconds comparing to hours before pandemic. Why should people abandon this EFFICIENT way of new norm? Thus, internet facility/WiFi routers/Broadband speed will be a key to the smoothness of WFH. And this is gonna be a never turn back road, that changes our life FOREVER.
After moths of consolidations, IT stocks are very good for collecting. Let us wait and see the following direction of this sector. *v^
Ben at Onsoku Kabushikigaisha
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This Week 7/1
If you believed in what I said last week and bought some technology shares, you are happy for the decent gains! NVDA.US, TWTR.US all soar a lot! Once again, I want to reiterate that US technology sector is the best sector for now. Chips/memory shares are about to rise. (TSM/AMD/MU)
Another important point to look at: FX Market. USD dollar index seems to rise after long period of weakness. Federal Reserve is thinking to adjust the cash injection plan which would cause USD to gain bullish momentum. Bullish USD FX would be another pool of bullets that would ignite DOW/NASDAQ next run of record golden times. Everyone should keep an eye on this development.
Ben at Onsoku Yokohama