META at an All Time High

META blows the doors off with earnings and shoots higher!

META at an All Time High
Photo by Dima Solomin / Unsplash

The market went wild after the close last night when META reported earnings. On top of a great earnings report, they reported their first dividend! In other words, they're slowly turning themselves into a blue chip stock. No matter how much I despise Facebook and how it brought us to the brink of civil war in this country during the Trump years, I have to admire what the Zuckster is doing.

He's smart and very strategic. Plus they have amazing open source tools like PyTorch and Llama for Generative AI. They are a technological marvel, that's for sure.

Yesterday it was trading at an all-time high and if after-hours market action is an indication, it's going to open over $60 higher. This market is WILD, wild I tell you.

(c) neuralmarkettrends.com

I believe that the valuations and prices of META and other stocks are insane right now. The market has lost its marbles, just like it always does and in time the Magnificent 7 will correct. In the meantime, you trade what you see and ride the trends higher.

I guess that because this is an election year and the established order is afraid of Trump winning again, there will be interest cuts by the Fed to make Biden look awesome. That's my guess, but what do I know? I'm just another loser on the Internet (JALOTI).

For the most part, the best time to have bought META in the recent past was in October 2022. We had that low in the market and since then META recovered in relative performance and become a seasonal stock.

(c) neuralmarkettrends.com
(c) neuralmarkettrends.com

Remember, the old adage of "Sell in May" tends to make sense only if the analysis agrees. Always test your assumptions because the market is one big ball of crazy, and if you're going to mess with crazy do what makes you money.

The edge lies in following trends and the belief that stocks always go up. My goal with META is to get long with a small position and ride the stonk up to the moon. Diamond hands forever!