2013 is ending with lot of cross-current......
Some of the big gainers of 2013 are seeing selling.....
Most of the laggards of 2013 are getting bid.....
S&P 500 has gained 76.90 points or 4.35% in 7 trading days.......it may need a rest very soon.....
BUT laggards may get stronger as indices digest their gains.....
10 yr yield @ 3.004 is @ a tipping point for higher rates ....
Oil @ $100.32 also may impact airlines & other input industries...
BUT there is a new positive for the market, it is worldwide economic growth which is accelerating.....
All in all focus needs to be on stocks & not on indices......
Indices may need to digest gains but new leadership stocks may emerge.......
New leadership stocks are on the verge of making huge gains which may last many years.....
It is important to pay attention to stocks which are bucking negativity or are up on down days.
It is important not to be fixated on 2013 winners which had multi year run already, they are only good for quick daytrades.......
Gold, Silver, Copper, iron ore, steel & other commodities could be the new leaders.....
Important point is, 2014 winners may look lot different than 2013, adapting is the key to making money.
IF you are still exposed to 2013 winners, it is important to understand their vulnerability going forward....
It is also important to pay close attention to RSI for buying & booking profit, this will play a much important role in 2014......
I am noticing a major shift in how funds are being allocated lately.
Good luck in your strategy towards a profitable 2014.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
Added to BALT @ 6.16. They just took delivery of another capesize vessel which has the strongest pricing right now on the spot market. It should really help them power into 2014.
Stocktrader
Hey Saleem,
I read an overnight report about a Japanese hard disk drive component maker raising its guidance for next year based on an improving outlook for computer sales next year with a corporate upgrade cycle expected as MSFT ends its Windows XP support.
This makes me wonder if WDC/STX or HPQ are ready to run now.
Stocktrader
Hi Stocktrader,
Good move with BALT....
WDC STX HPQ have a good chance of better price action....
PC makers will fight back & will not let Tablet run away...
Saleem
Hey Saleem,
Bought WDC @ 83.25. We'll see if there's any followthrough on this move. I sold last week because I thought it might be sluggish based on lack of early year catalysts, but maybe we just picked up one.
Stocktrader
Hi Stocktrader,
WDC chart is going sideways with expectation of a breakout...
Good luck with WDC..
Saleem
Hey Saleem,
Sold KOG @ 11.271. It rejected a breakout chance today and now looks poised to go lower. I think maybe the talk of oil peaking out for now is weighing on the group--PXD down $4+.
Stocktrader
Hi Stocktrader,
KOG had a nice move since your purchase.......booking profit gives you more buying power for next idea...
Saleem
Hey Saleem,
Sold DRYS @ 4.40 to take profits. I should have done this on Friday, but it's still up a ton from my purchase and the charts really look like they need a rest.
Stocktrader
Hi Stocktrader,
YES..shippers are extended big time.....
Saleem
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