US stock market has entered a new phase of this ongoing bull market.
First it was transport which made new all time high, then Dow made a new all time high, followed by S&P 500.....
RUT is @ new all time high......
Nasdaq is the next index set to make new all time high, it is only 30 points away....
SOX should follow Nasdaq in making new all time high, it is 46 points away.....
Dow theory was confirmed when Transport and Dow made a new all time high on Friday.....
Dow theory is the most widely followed by technicians......
July is shaping to be the-most powerful UP move we may have seen in a while......
Take advantage of this strong signal from this TAPE and position aggressively and do not "overthink" or "over analyze"
There are many stocks in SOX which are extremely attractive to buy, means low RSI still exist.....
Sometimes, it is better to let the market decide, how far any stock can go......it is OK to sell after stock has taken a turn, that level may be much higher where we normally exit.
Solar stocks have outperformed this TAPE lately after long slump......
Laggards are better than bargain hunting, bargains stays as bargain forever.....
SO....do your homework in SOX / Nasdaq and see which stocks fits your investment thesis, they are getting all set for higher highs.
Good luck with your own interpretation of this market and with your own comfort level.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Last week's performance: +5.54% (YTD:+23.67%)
Winners: AAOI ZYNE SWN BABA FB MU, all 5%+ gainers
Losers: RCL (-0.28%)
With broad strength across the portfolio, I had one of my best weeks in quite a while. I used that opportunity to take profits on Friday. I may actually trim a few more this week as I feel like the good earnings for this quarter are "baked in" already to a high degree.
Positions: RCL ORCL FB MU COUP ZYNE MJCO, cash 36.0%
Stocktrader
Hi Stocktrader,
23.67% YTD is outstanding, reflects your unique research and trading approach.
My portfolio gained 5.91%..
Slowly making a dent in my 2 lousy trades earlier
Saleem
Post a Comment