It has been a tale of 2 different markets, there is Dow Jones Industrial Average of 30 stocks, and other 20,000 stocks.
Dow is making series of new all time highs 8 in a row continues.....
While other indices or index are struggling big time....
Here is a snapshot of market, based on RSI :
Dow Jones 76.96
TAN (solar) 70.72
S&P 500 62.79
Nasdaq 56.22
XLE 50.03
SOX 46.74
RUT 44.77
As you can see that Dow is the undisputed leader in being UP the most and small cap Russell is struggling big time.
This market is totally lopsided, which i have observed in a long time.
Solar has rewarded those who timed it well.
Nasdaq which is widely followed, speculated and loved is trailing.
SOX has been a major disappointment for thousands of traders / investors.
I definitely see Dow being " dangerously overbought " and is due for pullback....
Nasdaq may play catch up, BUT IF Dow is pulling back, Nasdaq may fall more.....
Earning season is winding down, which may leave markets without any catalyst.
There are few earnings which i am following due to my exposure or potential exposure :
Wednesday AM WB
\Wednesday PM NTES
Thursday PM NVDA
WB is expected to beat earnings estimate.
NTES has done well and beats EPS handily, i may buy NTES before earnings.
NVDA also beats, it has moved UP substantially already......
Good luck with your own market analysis and earnings reaction.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week's results:
Performance: +0.48% (YTD: +24.41%)
Winners: RCL BAC MJCO
Losers: ZYNE PETQ EXAS
Holdings: RCL ORCL BAC NOW COUP ZYNE HUBS PETQ MU APPN EXAS MJCO, cash 1.2%
A nice performance from RCL after earnings helped drive the results this week. I can't help but look at ZYNE down >50% this morning which will dampen the portfolio's YTD gains by 5-6%. That still puts the portfolio above the indices for now (S&P +10.6%), but definitely hurts.
Stocktrader
Hi Stocktrader,
Sorry to hear about ZYNE......hard to escape this sometimes.....
You will be fine for YTD.....
Last week was bad for me ...down 12.43%...
YTD i am down 18.02%......i did recover to down 5.58% YTD as of last week...but....back to
18.02% YTD.....
Saleem
Hi Stocktrader,
Sold ZYNE @ 6.40. Sometimes it may not work. Luckily I was with a small position. If itdoesnt work we have to take a loss and move. I just cant believe the stock came down so much. It has been doing quite well these day. Disappointing results certainly brought the stock down.
Joseph
Hi Joseph,
It was a very disappointing first trial. I'm interested to see at least the osteoarthritis trial results, coming shortly, before I make a final sell decision.
Stocktrader
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