Chartpattern's Zanger: The market is screaming 'Buy, buy, buy, buy, buy!'
Description
Dan Zanger, chief technical officer at ChartPattern.com, says "the market wants higher" and is filled with cup-and-saucer patterns that "are waiting for handles to form," which is typically a bullish sign for individual names. Zanger says the broad market is showing some technical signs of resistance, but says investors should stick with what has been working. He did note, however, that for all of the publicity they get, not all of the Magnificent Seven stocks have been in the market's sweet spot from a technical standpoint; he favors Nvidia and Alphabet (google) at this point.
Scott Stevens, chief executive officer at Grays Peak Capital, looks at the private-credit markets, and particularly at how defense-critical spending is being impacted by the government shutdown. He also discusses private equity, venture capital and real estate markets and how they are responding to a new rate-cut cycle and more.
Ray DiBernardo, portfolio manager of the XAI Madison Equity Premium Income fund, says that covered-call strategies have become increasingly popular of late, as investors want to goose income while reducing market risk. While investors should use covered calls more as an income-oriented investment, their outperformance during the market downturn in 2022 has many investors also using them to hedge market risk.
Plus, Chuck follows up on a suggestion from earlier in the week that the government shutdown should spur everyone to take a financial stress test by answering a listener's question on just how to implement that strategy.