TMTB Weekly
Hey all - going to be a relatively short one today as I’m on the road today. Next week, we’ll have a full sentiment/positioning/narrative roundup across the Tech space to finish up the year.
A few quick thoughts from this week:
Market View: In our previous weekly two weeks ago, we talked about getting tactically long near the lows as we thought the r/r for Thanksgiving week was a good one, targeting $615+ on the QQQs. That worked out well, but we also said we weren’t ready to call an all-clear before the Fed meeting so we entered this week fully expecting some sort of digestion/pullback. That never came as QQQs finished the week up 1%+. We thought bears had a very good chance on Monday with the BTC sell-off and some mixed AI news flow, but the market began to show what direction it wanted to go. Here’s us on Tuesday morning in the chat:
When the opposite side (bears) misses a clear shot on goal, we take that a strong tea leaf we’re likely to head the other way.
We’ll have lots of charts…