North Korea conflict fear gripped the market last week, the question is what happens this week.
Before we can answer that question, we have to look @ RSI, they are :
TAN 56.13
DOW 55.67
Nasdaq 43.27
SOX 42.71
S&P 500 39.94
XLE 36.29
RUT 31.43
Based on the above RSI number, it can safely be said that TAN & DOW is the place to be.
Nasdaq & SOX are in a recovery mode.
S&P 500, XLE & RUT are the weakest place to be.
BABA is reporting on Thursday before open, it has earning momentum, expecting to do well going forward.
NVDA may counter some of the negativity, Data center revenue growth was called into question, reasoning were spelled out in conference call.
TAPE should overcome North Korea conflict issue as diplomacy should prevail, but we have an urge to tweet about non issues.
It is important to have a good handle on your own portfolio in terms of fundamentals and technical pattern.
Sometimes market do test 50 DMA on indices and stocks, it does not necessarily means sell.
Hopefully by Friday of this week, we should repair most of the technical damage.
Good luck with your own interpretation of events and your comfort level.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Last week's performance: -4.92% (YTD: +18.29%)
Winners: TZA APPN
Losers: ZYNE HUBS MJCO BAC ORCL COUP NOW
A very tough week with the massive decline in ZYNE. I've cut that one loose and continue to try and make the right moves going forward.
Current Holdings: TZA NOW ORCL BAC HUBS COUP PETQ MU TCMD APPN ALRM, cash 9.7%
I have flexibility in the portfolio still with the TZA hedge and the cash. I'll be looking for more opportunities as the week progresses.
Stocktrader
Hi Stocktrader,
My weekly loss was bigger than yours Down 5.70%...two weeks of bad losses has put me way behind......Down 23.71% YTD......
Bought CTRP @ $52.96.....
Saleem
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