Stocks continued to melt last week. Although “meltup” isn’t a term that is commonly used in science and has a rather sloppy name, I am trying to give it a more precise and definable definition. I define it as a time period when stock prices rise and each close is higher than the day before. This means the S&P 500 (SPY) has been “melting up” for 9 trading sessions for a more than 5% gain. Importantly, this has coincided with a risk-on period that saw a multitude of stocks make new highs and outperform in small/mid/growth stock which has been beneficial to our portfolio. Today’s commentary will link the melt-up topic to my previous thoughts on why Q4 would be bullish, including how fund managers will position themselves. Next, I will update you on three main categories of stocks: growth, value and inflation. I also explain why I am adding another category. Read on below to find out more….Enjoy this version of my weekly comment published on October 25, 2021 by the POWR Growth newsletter.

Market Commentary

First, let’s examine the impressive advance of this past week:

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