Paul Schatz, President, Heritage Capital

Behavior Befitting The Dotcom Bubble – Sell The Debt Ceiling News

The stock market continues to exhibit behavior that is really enjoyable if you are in the right indices, sectors and stocks, but not so much fun for the masses who are not. Specifically, the NASDAQ 100, semis, software and other technology at the expense of almost everything else. On the smallest level, it reminds me of the Dotcom Bubble. Yes, that Dotcom Bubble where it didn’t exactly end so well. Astute observers may also recall the inverted yield curve from […]   Read More
Date: May 30, 2023

Stocks Pull Back on Schedule

The media is all over the stock market decline that has been going on for all of two days. Two days after a super nice rally off of the March lows. And the decline began almost perfectly on schedule as the leading NASDAQ 100 exceeded the key high from last August and the S&P 500 breached its 2023 high. See the charts below. Many or most times when prices revisit a previous peak or trough, they back off before going […]   Read More
Date: May 24, 2023

Will the Economy Always Be Like This?

Without an adequate understanding of where their financial security stands in times like these, even high-net-worth investors sometimes feel as though stability is out of reach. However, with a firm grasp of economic trends and practices—and the insight for making informed investment decisions when times are tough—there is hope for a prosperous future.  The important thing now is to remember that we aren’t in a recession, not yet. It looks increasingly likely for the fourth quarter of the year or […]   Read More
Date: May 22, 2023

Still Talking Debt Ceiling But PGA Was The Story

With an upward bias, markets continue to be quiet as the debt ceiling gets closer and closer to being hit. The NASDAQ 100 remains the leading index followed by the S&P 500. The Dow Industrials are in no man’s land with the S&P 400 and Russell 2000 being the caboose. Nothing has changed. The market is being led by a handful of stocks that are being powered by the AI craze. Sooner or later there will be a swift pullback […]   Read More
Date: May 22, 2023

Will Pundits Finally Turn Bullish?

I am looking forward to seeing many of you tonight at the next Heritage Capital virtual event as we learn a delicious new dessert and bake it on our kitchens. Of course with Friday being here, adult libations are welcome and encouraged. We are working on the in person client event for late summer. Stand by. Markets are getting much  more interesting. I have been pretty much pounding the table positive since September. It hasn’t always been easy, but that […]   Read More
Date: May 19, 2023

Lots of Creeping Going On

Markets sniffed a little weakness into the close on Tuesday. That’s about all I can say. It was another dull, have/have not, kind of day. The NASDAQ 100 has crept higher. The S&P 500 has crept sideways. The S&P 400 and Russell 2000 have crept lower. Tech sectors are doing well. Banks are groping for a bottom. Discretionary is percolating for a move higher. Most other sectors and a tad weak. Everything is incremental. It seems like most people are […]   Read More
Date: May 17, 2023

Standoff at The O.K. Corral

Markets remain quiet. Early weakness seems to be find buyers. Early strength is not building on itself. We have a standoff at O.K. Corral. Last week I shared the S&P 500 and NASDAQ 100. The latter being the market leader with the former getting to the top end of its range. To be fair and balanced, below is the laggard which is the Russell 2000 Index of small caps. It looks nothing like the leading indices. The 1700 area has […]   Read More
Date: May 15, 2023

The Masses Freaking Out Over the “Narrow” Market

It’s always good to be back home. While I really like the Valley of the Sun and the constant sunshine without humidity, there’s nothing quite like spring in New England. The annual Uncommon Knowledge conference of my trade association was once again an amazing and rewarding experience. The agenda was chock full of incredible speakers and I learned so much that I can’t wait to implement. The networking with fellow advisors was its usual enormous benefit along with meeting many […]   Read More
Date: May 12, 2023

Pause to Refresh But Hanging In as Media Discovers Russell Problem

Having survived the Fed, Apple and the jobs report, the markets scored a big win for the bulls on Friday. All of the concerns I had were almost all gone based on Friday’s action, but they do remain in place. Friday was one of those “rising tides lifts all ships” kind of day. The despair from the Fed was gone because Apple had good earnings and the February and March strong jobs reports were revised lower, something I started to […]   Read More
Date: May 9, 2023

Getting Defensive Against a Recession

Affluence can make it easy to believe that you are immune to economic downturns. After all, it typically involves having substantial assets, investments, and resources at your disposal. History has shown us time and again, however, that even the wealthiest individuals can be impacted by financial crises. That is why it’s essential to prepare for a 2023 recession: You need a solid plan in place to protect your savings and assets. In the sections below, I discuss the unique challenges […]   Read More
Date: May 8, 2023