Hidden from hot rays of the investment sun beneath the canopy of huge mega cap trees, the previously dejected undergrowth of the broader class of temporarily unwanted assets has perked up noticeably in response to last night's unveiling of the Fed's more dovish policy outlines. I watched very closely since the beginning of this Fed-marked week on how the first buds tried to open even on hopes for further rate cut confirmations, and now I am ready to take a more proactive stance in some of those stocks in response to their rising green shoots and step-by-step flourishing. Fed' slashing rates are here to support most of those "not-being-loved-enough", or you can call them "previously emotionally abused", but still fundamentally strong businesses.

Applied Materials (AMAT), which I set initial price targets of around $175 for back in mid-July on its recovering fundamentals, surpassed that barrier by more than $3 already on Wednesday US morning before the Fed's announcement, adding more than 5% since the beginning of the week ahead of rate cut release. I'm sure, it will add an additional 5-7% in the next couple of days, following the same "rising undergrowth" agenda I just described here. For me, the next target for AMAT is well above $200.

Talking head Jerome Powell's routine remarks at yesterday's press conference a clearly updated macroeconomic projection by the Fed (with two more rate cuts welcomed by the majority of voting officials) could dampen initially dovish sentiment in the currency market to prompt some repositioning before the next wave of selling USD. However, this mentally manipulative trick for instantly taking profits in a number of currency pairs and then buying the USD back, with also buying time to think more, did not mislead the greedy crowd of equity investors, so that the S&P 500 index futures just ticked up to reach its new historical high above 6,650 points already on today's pre-market. If so, for now, I'm only talking about AMAT, but I hope to share my observations on several more Wall Street stocks soon, confirming their exposure to the fast-rising investment sun.