Monday Monitor

MAG7 Rolling Over and The Old Economy’s Stealth Bull Market

Some highlights from this weekend’s Event Driven Monitor

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The Event of the Week

Industrials are in a strong uptrend…

For nearly a year, MAG7 has led us from the depths of despair. Remember when the fukwitz all told you that the economy would detonate from high interest rates and we’d all go back to living in the stone age?? Well, they were wrong and we were right to say that Fiscal trumps rates. Anyway, while that debate evolved, MAG7 simply didn’t have down days. Over the past few weeks, that’s been changing. First we lost TSLA, then the others stopped going up. Admittedly, you could call these consolidations. However, we note the change in momentum. Things are changing. Now, even NVDA is running out of steam.

Could we be at the end of the road for growth, with a rotation coming for value?? Look at MLM or CAT or VMC or GE. The old economy is undergoing a stealth bull market that no one is talking about. Is the air about to come out of the tech economy and chase the industrial economy?? Right as tech names look like they’re rolling, industrial is all hitting new highs. Is JPOW really going to cut rates as the US economy overheats?? We’re not chart guys, but we cannot ignore what’s happening in large cap industrial names.

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Kuppy’s Tweet of the Week

AI Enabled Uranium Exploration is Taking Over Vancouver


Chart and Kliff Note of the Week

3M, MMM, announced that Bill Brown will take over as CEO of 3M on May 1. Brown was previously the CEO of Harris Corp from 2011 through its merger with L3 Technologies, remaining CEO of the merger company until 2022.

Worth noting that 3M has not been participating in this “old economy” stealth bull market. They are also in the process of spinning off their Health Care Business focused on wound care, oral care, healthcare IT, and biopharma filtration. SpinCo expected to begin trading 4/1 as Solventum.

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Friends of KEDM

  • FinTwitter and friend of KEDM ChiGirl highlighted this article from Bloomberg talking about more offshore oil found near Guyana. Offshore services are another KEDM inflection theme in a stealth bull market. They keep making new highs while nobody pays attention.
  • Two regular friends of KEDM, Tony Greer and Zach Abraham got together on Zach’s Know Your Risk Radio Podcast for a market update episode.

Kuppy’s Event Driven Monitor scans over 20 corporate events for market moving information and distills them into our propietary “Kliff Notes.”  One profitable trade should more than cover an annual subscription and access to the Event Driven chatroom!

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