Not A Naughty Nasdaq:

“Santa is making a list, checking it twice, gonna find out who’s naughty and nice”. First the Nasdaq has certainly not been misbehaving, and whats on Santa’s list? If he was an astute stock picker, it would be chock full of semiconductor and software names. Both of these groups have contributed mightily to the Nasdaq’s nearly 40% gain in 2020 thus far. At different times on group has led while the other needed a rest, most notably during the last 3 month time frame. In the last 3 months the SMH has advanced 28%, trouncing the 10.1% gain for the IGV. A lot of the heavy lifting has NOT been done by the mega cap names (Russell 2000 shined Friday up 2.4%). Going back to the 3 month time frame, the three largest names by market cap on the planet in AAPL MSFT and AMZN have lagged badly. AAPL has risen 1%, MSFT is UNCH, and AMZN is down¬†4%. What if these names start to play catch up? Could they really turbo charge the Nasdaq?

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