Two key data points past few days. Blackbook Used cars + Debt ceiling = positive. FYI, markets don't "blare trumpets" at the low (Oct 2022 low).

The video in this report is only accessible to members
The video in this report is only accessible to members

NEW: Section (above) added identifying Key Recommendations and Super Grannies


In case you missed our webinar "Super Granny" Shots last week

  • we discussed "Super Granny" shots that are expected to tactically gain near-term
  • and "Sleeping grannies" which we expect to tactically underperform
The video in this report is only accessible to members


In the past week, there has been a notable incrementally positive shift in investor sentiment towards equities. Previously, many pundits claimed stocks were ignoring enormous risks like debt ceiling, war, inflation, and Fed resolve and fundamentals could never justify the "unsustainable valuation expansion." But it seems bears are now swayed by strong 1Q23 earnings (+700bp beat), along with a dose of NVIDIA $NVDA cementing the AI theme (Fundstrat clients know this has been a central theme of ours for many years).

Recall, one cannot be a "bear" and then be buying FAANG stocks. Anyone rationalizing FAANG as a Defensive trade has forgotten the 2022 bludgeoning of FAANG was due to higher interest rates. FAANG is a pro-growth, thematic trade. And as our clients know, was our top sector pick for 2023, as we expected FAANG to gain >50% on the heels of ...

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