- Although Cathie Wood's ARKK ETF is down 52 percent year-to-date, it had a brief rally over the past week, rising 1.8 percent. Chris Vermeulen, Chief Market Strategist and Founder of TheTechnicalTraders.com, said that he is taking advantage of this "complacency rally" to buy growth stocks and sell them quickly, making a profit.
"I think we are just about to start this complacency rally in stocks," said Vermeulen."This is a great opportunity for potential trades that could last several weeks or several months, and growth stocks perform well during this. Now it might be the last chance to take advantage of them before we roll over… We're going to enter a much bigger bear market."At present, Vermeulen is eyeing growth sectors such as technology.
He explained, with reference to the COVID crash, that"when we got this sell signal in the stock market, we looked down for the next asset class, which is TLT [long-term Treasury bonds]… we moved in and caught a beautiful 20 percent move in TLT, and then we had our trailing stop… and then we moved to cash and just earned interest in the bank and the brokerage account, until we get a new buy signal in the stock market, and then we moved back into stocks.
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