Asymmetric Investment Returns is a blog authored by Mike Shell since 2006, covering topics about asymmetric investing and trading for asymmetric risk/reward in pursuit of asymmetry.
Elite Eight stocks (META, AMZN, NFLX, MSFT, AAPL, GOOGL, NVDA, TSLA) now make up 28.4% of the S&P 500 market cap
While the options market expects lower volatility over the next 30 days, active risk managers and tactical investment managers pursuing risk-adjusted asymmetric investment returns may be inclined to hedge off exposure while protection is a better deal.
RSI can be informative in sideways, non-trending market states; it changes to a breakout momentum indicator in trending markets.
Only time will tell if the Call Wall, expirations, and long-vol positioning today has more impact or if there's enough momentum to drive it higher, but we'll be watching to see how it all unfolds.
Mega-cap tech ( AAPL MSFT AMZN GOOGL META ) market share of the S&P 500 is now 22%, but this chart from Goldman Sachs suggests the top 4 stocks in 2000 showed us market leadership is difficult to maintain...
Mega-cap tech ( $AAPL $MSFT $AMZN $GOOGL $META ) outperformance and earnings growth show that mega-cap tech has outperformed the S&P 500 by 28pp in 2023.