Trader Talk: So Scared

Articles From: Bullseye Brief
Website: Bullseye Brief

By:

Founder

Investors plowed $508B into money market funds during Q1, the most since Covid. Angst around inflation, recession and rate hikes has proven too much to bear, so people have retreated from stocks to cash. We’ve seen this before. The herd gets frightened and sells, typically at the wrong time… Covid marked a definitive bottom for stocks. Do you realize the market has rallied for two consecutive quarters? The low was last October. Even in the past three weeks, amid palpable panic around bank solvency, the S&P 500 Index has rallied 7%. When everyone runs for the exit, chose the best seat in the house and make yourself comfortable. Or buy the best stock at a discount and give it time.

Investors piling into cash

As of 3/31/23, the author holds positions in:

Alexandria Real Estate, Amazon Inc., Aptiv Inc., Arconic Inc., Avient Corporation, Axcelis Technologies Inc., Bank of America, Blackstone Inc., Boeing Company, Boston Properties Inc., Builders FirstSource Inc., ChargePoint Holding Inc., Charles Schwab Corp., Coinbase Int’l Inc., Darling Ingredients Inc., Delta Air Lines Inc., Energy Transfer LP, Evercore Inc., Expedia Inc., Google/Alphabet Inc., Iveric Bio Inc., Joby Aviation, Korn Ferry Inc., Meta Platforms Inc., Microsoft Inc., MP Materials Inc., Nine Meters Biopharma, Nvidia Corp., NXP Semiconductors, Palo Alto Networks Inc., Plug Power Inc., Progyny Inc., Qualcomm Inc., Rapt Therapeutics Inc., Salesforce.com, Sensata Technologies, SoFi Technologies Inc., Square/Block Inc., Sunnova Energy Int’l, Symbotic Inc., Uber Technologies Inc., Ultra Clean Networks Inc., United Rentals Inc., Unity Software Inc., Wynn Resorts Ltd., XPO Logistics Inc.

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