Nasdaq & S&P 500 closed @ new all time high on Friday......
Dow, RUT & SOX are ready to reach that milestone, here is the breakdown of how far they have to go to make it in record books :
Dow........194 points away
Russell 30 points away
SOX 14 points away
With centrist Macron victory in bag in France, indices should rally hard.
This has been an incredible rally, Nasdaq being the-best performer since 5034.41 back on election eve ...now it has rallied 1068.31 points which is 21.22% in 6 months......
S&P 500 has rallied 15.22% in 4 months, last 2 months S&P 500 has been basing and is ready to run higher.......
Many stocks are making series of new all time highs, they are big caps Nasdaq stocks like AMZN, GOOG, FB, AAPL,NFLX,TSLA.
Stock picking has been more erratic as one stock can sink the whole portfolio, a good example is AMD 25% slump for my portfolio......
BUT...we all have to keep faith in our stock picking ability, as they have given us many many winners this year alone.
Sometimes we are lucky and avoid earnings related slump like in CY & BIDU......
Despite, some setbacks, we are given chance by this TAPE to regroup and work on our stock picking ability.
TAX reforms are coming to US, which should help stocks again....
Financial reforms will help banks in a big way
Fed raising rates in June, will boost banks further
Thus many catalysts are working in favor of equities.
Chinese latest regulation to monitor / regulate / control search and social media may hurt BIDU WB SINA based on their business model.
It is good to monitor legislation or controls as and when they are announced.
We are all set to make series of new highs in the week ahead.
Good luck with your own strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
No comments:
Post a Comment