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The IPO looked like a triumph for the company and a very bullish sign for the IPO market.

Recently I did a road trip in my Tesla with my wife, from Salem, Massachusetts to Savannah, Georgia and back.

“It’s time, not timing,” versus “Timing is everything.”

Cannabis stocks are up sharply – 20% or more – since I suggested buying them on weakness in a Cabot Cannabis Investor update sent to you on January 10.

Using my two favorite exchange-traded funds (ETFs) as proxies for the sector, the AdvisorShares Pure US Cannabis (MSOS) has advanced 20%, and AdvisorShares MSOS 2X Daily (MSOX) is up 37%.

Today’s note includes earnings updates on Duluth Holdings (DLTH) and Signet Jewelers (SIG), the podcast and the Catalyst Report.

Last Monday marked a special day for us at Cabot: The 39th anniversary of the first issue of Cabot Market Letter, our flagship newsletter. In honor of this anniversary, I’ve interviewed Cabot Market Letter’s current steward, Michael Cintolo.

In two days, the S&P 500 has set two new all-time highs. Last year’s momentum is spilling over so far. But will it last?

So far, 2022 is playing out as expected. But of course, this is only the eighth trading day of the year.

After good news on inflation, the market awaits the Fed’s rate decision and comments later today. It could lead to a rally or a fizzle.

Inflation for November was less than expected with CPI at 7.1% versus an expected 7.3% and core inflation at 6.0% versus an expected 6.1%. It’s welcome news that inflation is moving lower and has probably peaked, down from 9.1% in June. But it’s still a long way from the 2% Fed target.

It’s been a rough week so far as investors are severely disappointed over the good economic news.

Strong jobs growth and continuing strength in pockets of the economy is spoiling recent investor optimism. Economic strength is not what the Fed wants to see in its battle against inflation. Strength in the economy indicates that perhaps the Fed will have to remain aggressive for longer to slow down the economy and snuff out inflation.

Although it was a micro-cap when I first recommended it, PX has boasted years of strong performance that has lifted it to small-cap status, and it remains one of my favorite stocks today.

Even in challenging markets like today’s, opportunities can be found in small pockets of relative strength, like these two metals stocks.