Less than six weeks ago, we were sitting @ 1820.66, now S&P 500 reached 2071.46 on Friday, that is a stunning gain of 250.80 or 13.78% in a span of less than six weeks.
RSI sitting @ 73.23
Message of the market has been clear, this is no ordinary bull market, it pauses and charges up very quickly......
We may be sitting @ a "quick pause "
@ 73.23 we are sitting @ the highest point in RSI in a long time.....which calls for some kind of pullback.
SOX is looking strong...
Nasdaq behaved badly on Friday...maybe signalling a pause ?
Volatility may increase near term
Last 5 weeks left in this year which may result in selling of weaker stocks, IF you want to buy them then wait until last week of December.
Overthinking this market has not helped any trader or investor.....
This TAPE has given many signal that, it is heading higher..but few are busy fighting on a daily basis.
I do follow RSI, which is a good trading tool.
BUT in a runaway bull TAPE all indicators loses its impact.....
SO...buy anything which looks better for future positive move
Any weakness becomes a buying opportunity.
Here is my weighting :
LULU 27.28%
EGO 25.20%
MU 21.37%
NXPI 12.44%
AKS 6.91%
BBRY 6.80%
Exposure 195%
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
It was a decent week for me with a 0.60% gain vs S&P +1.16% and Russell 2000 -0.12%. WLH and HUN were good gainers while TASR and SPLK pulled back (amazing SPLK ended down on the week!).
Sticking with stocks in uptrends is the only way to go from now until the end of the year. I don't see any way for an underperformer to suddenly get a bid. It's hard not to bottom pick!
Stocktrader
Hi Stocktrader,
I have placed an order to add to BBRY 60 percent to a laggard.
A mix of strong and laggard is OK.
Saleem
Hey Saleem,
Added back the SPLK @ 67.27.
Although that's 4%+ higher than where I sold, the report and guidance were fantastic. This is the best "new software" play in my opinion due to being in the early innings still.
Stocktrader
Hey Saleem,
BBRY is above both its 50 and 200 DMA. That makes it a leader despite its many skeptics! :)
Stocktrader
Hi Stocktrader,
Finally I got filled on BBRY @ $10.29 added 60 percent..
Good luck with SPLK.
Saleem
Hey Saleem,
To clarify, I added back the 50% SPLK I had sold. It is back to being at the top of the weightings.
Main Holdings: SPLK FDX GS HUN ETN AAL
Smaller Holdings: RUTH WLH TASR
Also, my super small spec company is up 45% since purchase, but even so is impacting the portfolio very little. It's certainly entertaining though! :)
Stocktrader
Hey Saleem,
Really nice on BBRY. Good bounce off the 50 DMA today!
Stocktrader
Hi Stocktrader,
YES..I knew you were adding back SPLK...
Good luck with your speculative position.
Saleem
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