Mike Simonato, Ontario. Presenter: “Investing for the Long Term”, presented to the Feb. 6, 2021 International Online Forum, you can watch by CLICKING HERE.
My Thesis Part 2
Previously I wrote about my Thesis and how I use it to choose stocks to buy. This has proved to be a very successful strategy.
Everything I see tells me I’m still on the right track. Every single thing I see in life and on TV, everyone is buying on Amazon. Apple continues to rock and Bob Turnbull continues to amaze. From talking to many business people this week, the labour situation continues to get a lot worse. Previously I said people over 50 are the best and most reliable and now that’s not even true ie Bake Shop manager hired a retired schoolteacher. She never showed for work.
A large Hair supply/ salon had the manager not show up and has never shown up since. A large salon chain has to close 3 days a week because they can’t get anybody to work, leaving the few good workers left to consider quitting and starting their own businesses. Example: a high end client sent us an amazing gift box of baked goods. The owner of the business used to be a nurse and loved baking. She quit nursing, started her baking company, and is doing extremely well. As more and more people start their own businesses, Shopify, Etsy, and Amazon should do well for years to come.
Now for part 2 of my Thesis. I have known throughout my life that I can learn something from everyone I meet in life. A quote I will always remember and is the basis for part 2 of my thesis. “A Community of the Like-minded can Produce Spectacular Results” When I joined VectorVest I realized if I could network with like-minded traders (not necessarily the same style of trading) we all could enjoy a nice quality of life with a fraction of the stress. Here is a Perfect Example of this in work:
Stan “The Man” Heller. What he has managed to accomplish is the above brought to perfection. Consider the weekly Q&As, International Forums, His Weekly Views, Courses etc Stan has managed to get like-minded people from all over the world to work together towards one goal.
A perfect example of this is Bob Turnbull sharing his Amazing Strategy with us. There is no Strategy out there that is talked about more than Bob Turnbull’s “BS Strategy”. The reason is it is very successful year after year and can be traded in Canada and USA. We would not have known about this amazing strategy if Stan wasn’t so kind and amazing and if Bob Turnbull wasn’t so kind as to share his strategy with us. Just taking what I do, including, of course, Bob’s amazing strategy, I’m not overly concerned about my retirement. If I can sell my business, then I can finally relax, trade part-time and finally get out on the golf course again.
As I have mentioned over and over again, how we treat people is becoming more and more important as this pandemic continues. People are no longer putting up with rudeness and disrespect. There will be many people next year who are going to find nobody is going to put up with them anymore. Let us continue to work together in showing respect to one another and helping each other to succeed in our efforts to give all of us a good quality well-financed retirement.
As always nothing more than my 2 cents and I hope it’s of value and interest
Now for the Markets:
DOW JONES Wyckoff Spring Pulled back below the 200 SMA to take out all the stops and has rallied since
NASDAQ: Double touch on support. Nice rally Mon – Wed Little weak Thurs and Fri
S&P 500: Big rally Mon & Tues Little Flat Wed- Fri Held 79 SMA
MKT TIMING: Wyckoff Spring. Nice rally off the base but failed at the 79 SMA
READ Views and Strategy Could get a C/UP next week
PTSE: after a strong Mon & Tues sold off Wed – Fri back to 79 SMA Vol decreasing could pop next week
VENTURE: Similar to PTSE Pulled back to major support Watch next week
MKT TIMING: Popped Tuesday but sold off the rest of the week and closed below the 79 SMA
READ Views and Strategy Could get a C/UP next week if the market continues to move higher a few more days and the MTI crosses above 1.0
AUSTRALIA: Read Views and Strategy Could get a C/UP Next Week
BRITAIN: Read Views and Strategy Could get a C/UP Next Week