Another solid day of gains as stocks build upon the years first day of trading. Volume was up on both exchanges in a good sign institutions are putting money to work. The Federal Reserve meeting minutes were quite hawkish, but given their statement after their last meeting it comes as no surprise. We did see the market push higher after the release of the minutes and we could hang onto the gains. All in all, a solid day and we continue to see this market act well and our positions continue to perform well.
Aside from the stock market bitcoin continues to race higher. It is getting into nosebleed territory. The rise can certainly be attributed to China and India, but simply following price would have you been long regardless of the reason. If you haven’t been able to take some gains it would be prudent to do so.
Not too much to do here other than to continue to manage our positions. We will continue to rotate out of laggards and stick with our winners. There is no need to overcomplicate or be a hero in this market. As signals come you must take them and grind with this market.
Tonight, will be short and sweet. Stick with the plan and continue to execute.
