March jobs report has delivered a huge shocker, expectations were for 245 K, actual 126 K, i do not recall seeing a miss of this magnitude. February actual was 264 K.......
Monday's trading will be dominated by overreaction to jobs number.
It is important to keep in mind where support could be, in S&P 500 it is 2039.69 which is March low, IF this reaction gets ugly then we may be looking @ 200 DMA which sits @ 2013.49...
I believe buyers will step in to scoop bargains on Monday, bad jobs report equals delay in raising interest rates which traders want.....
Earnings will take center stage this week, it will be watched closely for high US $ impact in AA.....
It is important to take a long term view in dealing with gyration in this TAPE.....
We ARE watching a "normal TAPE now"
It is a stock pickers environment.....
It is important to KNOW your stocks well in terms of its fundamental and future earnings potential.
Do not be swayed by "experts opinion"..it is generally TAINTED by their strategies......
Look for "buying opportunities" which could be plenty on Monday.....
Normal TAPE is very challenging as it does not have "buying frenzy"
It may be wise to stay away from CNBC on Monday and watch / do some other chores, they always "play the fear factor"
I can assure you that "sky is not falling" and by close it may look like any other day.....
Focus should be on doing homework for future strategies.....
Good luck with your own analysis and your comfort level.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hey Saleem,
Bought C @ 51.05.
I wanted the financials exposure back after good relative strength next week.
Stocktrader
Hi Saleem,
Sorry, was typing quickly right at open...financials had good relative strength last* week, not "next" week :)
Stocktrader
Hi Saleem,
Last week my portfolio was -0.94% versus +0.29% for the S&P. Big losers were AAL (-6.6%), CF (-2.9%), and FB (-2.1%). Only a nicely-timed sell of HUN at +4.0% did that well.
This market continues to be difficult, so I think diversification is the key, and I'm keeping the high/full exposure as I think most of the "problems" of Q1 are known, and companies can now show good execution off of a tempered market expectation.
I hope your long weekend went well! :)
Stocktrader
Hi Stocktrader,
Good luck with C.....yes they will do well this week & next as per your hunch for next week...
My long weekend was very active with friend visiting.....
Did yard work and complete detailing on my car (7 hour chore).....my hobbies are generally things i enjoy & gives me the reason to be physically active.....approaching my 70th birthday on May 13th.....doing very well for my age......
Saleem
Hi Stocktrader,
just checked the chart on C..looking very good ..you have "golden cross"
Saleem
Hi Saleem,
Sounds like a fun, eventful weekend--great to be active no matter what age! :)
I also did some yard work including the yearly pruning for those pesky raspberry bushes--they grow wildly sometimes!
Stocktrader
Hi Stocktrader,
Although mine is a city lot..but my 2 Silver Maple trees are 40 ft tall and they create lot of work in raking leaves and dumping it in ravine..we use tarp to haul it..took 8 trips when it was all dried out.....
2 Shubert cherry trees are 30 ft tall but don not get as leafy.......
BUT..they look pretty all summer and fall.....
Saleem
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