Market got a shot in the arm from rising PMI in China,UK & Europe.....
Economic data is also improving in US......
DOW & S&P 500 made a new 09 highs this morning.....Nasdaq is trying......
Gold UP $7.00
Oil UP $2.13 to $71.58
Canadian $ is sharply higher to new 9 months high..UP 1.07 cents against US$......
In my portfolio :
Sold TLM
SOL is my lonely stock now.....
Keeping an eye on RSI.......
Nasdaq RSI 74.17
DOW RSI 74.84
S&P 500 RSI 74.30
Definitely in "overbought territory" but ....CAN remain overbought much longer if "they want"
My strategy to stay out until RSI gets lower.......holding 75% cash???
Most stocks are higher.....
There is a famous song by Kenny Rogers
"You got to....Know when to Holdem..Know when to Foldem"
BLOG does NOT give buy or sell.
Saleem
Saleem
ReplyDeletewhoa what a strong day
Dunno if this can keep up--but some pundits are talking a 10,000 dow----hmmmm
Still holding FRO, DSX GS, GE and APPLE
I like your conservative approach
Best to you all
Hi Madmax,
ReplyDeleteMy gospel is RSI...for stocks & market.....
Profit needs to be booked @ this stage...it is all about Risk/Reward...
Good luck for your portfolio !!!
Saleem