The stock market seems to be in the holiday spirit last month, the S&P 500 has secured one of the best gains for November this century. As we step into the festive month of December, anticipation looms over whether the much-talked-about Santa rally will keep the market merry. But before we get into that, let's talk about one of our “Big 3” stocks, Ford (F), and its foray into the world of electric vehicles.
Last weekend, I had the chance to test drive the latest innovation from Ford: the F150 Lightning, an all-electric truck. Despite the current challenges faced by Ford—sales struggles and the impact of strikes—the F150 Lightning left a powerful impression. The ride was robust, and the driving experience was exceptional. In fact, it surpassed my expectations in many ways.
While I was at the Ford office, I had the opportunity to interact with several employees. It was interesting to hear their insights. Some mentioned the resistance people often exhibit toward change. The all-electric trucks represent a significant shift, and it's understandable that it might take some time for consumers to fully embrace this change. However, the sentiment among employees was largely positive, underlining the potential for the Lightning in the future once people adapt.
Shifting gears, let’s focus on another powerhouse in our portfolio, Honeywell (HON), which also holds a place in our “Big 3.” The stock has been climbing steadily, inching closer to the $200 mark. Our plan is to consider selling some shares around the $208 range. This would represent one of our most substantial profits yet, given that Honeywell is our largest holding. We will be monitoring. The proceeds from this sale will provide us with the opportunity to diversify further, especially as we brace for the next market correction.
Amidst this excitement, it's important to note that we recommend investors continue building up their money market core accounts. As the stock market continues to ride high, it's prudent to have cash reserves on standby for the next market downturn or correction. Keep adding funds from each paycheck to fortify your financial core accounts.
Speaking of market movements, November delivered one of the most robust performances in recent years. We'll closely watch to see if the traditional Santa rally continues this December. It's a season that often brings positive market momentum, and we’re hopeful for an upward trend to close the year on a high note.
Throughout the Ford visit, I captured some moments at Ford that I'd like to share. Here are a few snapshots from my time there:
In conclusion, while Ford may be facing hurdles, particularly in the transition to electric vehicles, the F150 Lightning gives us a glimmer of hope for the company's future. Simultaneously, Honeywell's performance signifies a potential milestone for our portfolio. As we navigate through the twists and turns of the market, we continue to stay vigilant and optimistic about the opportunities ahead.
The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
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