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Can’t stop a good thing

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Well then, that’ll teach us to think that markets can actually come down from time time! Jokes aside, the bearish setups from last week have all be nullified and a fresh set of breakouts have taken place. Guess when it comes to equity market rallies, you really can’t stop a good thing. We’re not entirely convinced from a long-term perspective, but for the short-term traders… well, the job is to follow the market. So if you can’t stop a good thing, you might as well join in the fun.

Trend following for the win!

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Very often we overcomplicate things for ourselves. The easy truth is that trend following it often the best way to interact with markets. Since the trend is currently very firmly up, we’re happy to toe the trend following line for as long as the trend stays in tact.

Patience is key to opportunism

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We’ve said a few time in the past that patience is key. The main benefit of being patient when it comes to trading is that we can wait for the really good setups to mature and then take trades in which the odds are firmly skewed in our favour. Some of the stocks we’ve been watching for a long time have finally triggered buy signals.

Buy the dip?

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Well, after all that bearishness, all we got was one day of #marketcrash trending on twitter and a bounce so glorious I’m sure people will be singing songs about it at some point in the future. It seems that ‘buy the dip’ is not dead just yet. In truth, the irrationality of this whole market is starting to scare me a little, although I am not going to fight the ‘buy the dip’ crowd.

The trend is strong with this one

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The U.S. market is closed on Monday for Presidents’ Day, which means that our market will likely be rather quiet at the start of the week. Overall though, the bullish trend is strong and has been for some time. I rang some alarm bells last week, although it seems that I was wrong. This doesn’t mean that we should all rush out and put on a thousand new long positions. Patience, caution, always.

Hurricane trade ideas

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The weather in the northern parts of South Africa is likely to be a little wild in the week ahead. We just hope that the hurricane that has made landfall in Mozambique does not cause large scale damage. Spending the week indoors, sadly, is nothing new thanks to lockdown. Now we just have to hope that the coal stays dry so that we don’t have electricity disruptions. These are strange times to be living in to be sure. At least we have markets to look at and keep us busy while a hurricane and a virus rage outside.

The mighty Dollar fights back

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Fresh new stimulus cheques in mail and record high options trading volumes. The market is a very confusing place right now to be honest. Well, maybe not actually. It’s fairly obvious that stimulus money is finding its way to extremely speculative trading instruments (which includes Bitcoin) and that the greed ruling markets at the moment is firmly cemented in place. Even with all this additional money in the system diluting its value, the mighty Dollar is fighting back and strengthening.

Hopes of a Santa Rally

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There are still a few weeks to go before Christmas, but hopes of a Santa Rally are starting to take root. For now, most of our watch-list still appears bullish, although there are some warning signs. We could be seeing some early signs of fading momentum on the major indices, although it might still be too soon to tell.

Stonks only go up

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The exuberance of markets can never be underestimated. “Stonks only go up” has become a meme. But we know that memes have the power to influence millions of people. As long as the market is trading from vaccine headline to vaccine headline, we can expect that markets will probably keep pushing higher and people will likely keep chanting “stonks only go up”.

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HERENYA CAPITAL ADVISORS (PTY) LTD is an authorised financial services provider (FSP number 47080) in terms of Section 8 of the FAIS Act. A copy of our license certificate is available on request. Our physical address is 1st Floor, Block C, Eagle Canyon Office Park, Randpark Ridge, 2154. We can be contacted via email by emailing info@herenya.co.za. Please note that there are risks involved when buying or selling any financial product, and past performance of a financial product is not necessarily indicative of the future performance. The value of financial products can increase as well as decrease over time, depending on the value of the underlying securities and market conditions. The risk of loss arising from trading in Contracts for Difference can be substantial. You should carefully consider whether such investments are suitable for you in the light of your circumstances and financial resources.

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