ARKK: Winner Always Win!
Market thoughts: I’m at the stage where I’m watching for something break— it hasn’t yet. My core analysis of trend, breadth and momentum continue to say “stay in”
This market is bullish until proven guilty, pullbacks earn the benefit of the doubt every time.
$ARK Innovation ETF(ARKK)$ has been the primary trade for me through this stage from mid May. Getting that right delivered outperformance and comfort into the final quarter of the year. I’ve targeted 90-100 for the trade, but maintain consideration for 130.
Sentiment is surprisingly neutral creating plenty of space for euphoria to transpire. Fund manager positioning isn’t anything resembling overstretched. Neither suggesting “everyone is in the pool”
This market will break at some point into a wonderful drawdown trade. I certainly will not catch the top, but confident I’ll protect capital before a pullback becomes severe. Despite “feeling near” (which is useless analysis) nothing in my work says it’s time to become overly cautious.
Until trend, breadth and momentum falter simultaneously I’ll be letting the winners keep running.
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