Weekly Market Update for February 17, 2023, from DeWayne Hall: Major Commodities

Same song as last week, the second verse. We have a sideways, choppy market with few sectors and names worth paying any attention to.

There are some very limited opportunities on both the long and short sides in a few stocks that have overextended either way. We’ve been making a little lunch money trading on the short side in stocks that got way over their skis post-earnings. Otherwise, we’re cash heavy waiting for clearer direction. We’re not big fans of sideways chop. It’s sort of like the Super Bowl Halftime Show. A lot of noise that never really goes anywhere.

What has our attention is the bludgeoning of some of the major commodities- namely natural gas, gold, and silver. We can’t tell you why, but we can tell you commodities are on sale and may be heading to the deep discount rack shortly. We’re keeping our eyes open for possible longer-term investments in any or all of them in the coming weeks. Fingers crossed. 

The views expressed represent the opinion of Good Life Asset Strategies, LLC. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness.