North Korea escalated tension with Washington by testing Hydrogen Bomb with an impact of 6.2 in Richter scale. This is a series of tests which North Korea has taken to assert itself on world stage.
Based on reaction from Asian stock market and European stock market, it is tame @ best.
Futures are not predicting anything close to a sell off, it is negative 61 in Dow and negative 9 in Nasdaq, S&P 500 negative 6.25.
Why muted reaction......because the end game may be a peaceful resolution by parties impacted.
US markets are within striking distance of making a new all time high, Nasdaq only 26 points away, Dow and S&P 500 are maximum two trading days from making new all time high.
When US markets are healthy, it can absorb mini-shocks easily.
FAANG and Chinese stocks are looking very strong.
Base metals are looking healthy.
Gold may be vulnerable to " sell the news "
Most money managers should be back @ work, they seems to be ready to put money to work.
By close Tuesday, we may have North Korea issue in rear view mirror.
It is wise to stay put and show conviction to your current exposure.
Even slight weakness @ open, may be a very good time to add or start a new position.
SO...sit back and relax, as market digest / ignore another news from North Korea.
Good luck with your own take of current tension and your comfort level.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
Last Week:
Performance: +3.28% (YTD: +27.59%)
Notable Winners: URI X MU MOMO HUBS TRIL NOW
Notable Losers: WUBA PETQ FCX
It was a great week for many diverse stocks last week. With breadth like that, we seem poised to move higher. As a contrarian signal, bullishness in the AAII survey dropped to 25.0%--an extremely low reading.
Portfolio: ORCL(7.8%) MU BAC NOW FCX URI YY WUBA HUBS TDOC MOMO PETQ X COUP APPN TRIL(3.8%), cash(0.0%)
Stocktrader
Hi Stocktrader,
Your performance keeps on moving UP to 27.59% YTD.....outstanding!
I was UP 2.33% last week....ytd loss 21.33%
Saleem
Hi Stocktrader,
Sold SNAP @ $14.25
Added 100% NFLX @ $173.25
Saleem
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