Monday, February 19, 2018

Excellent recovery in indices.....

Last 6 trading session saw support and major recovery.

 Here are some of the tabulation of 2 major index :

 S&P 500 went down 11.84% in 10 trading days, has recovered from the lows 8.75% in 6 trading days, all the stats are taking absolute highs to absolute lows in both direction.

 Nasdaq went down 11.66% in 10 trading days absolute highs to absolute lows to Friday's high. and have recovered from lows 10.14% in last 6 trading days...taking

 Based on my recollection, this could be the fastest selling and fastest recovery in historical terms.

 SO...what is the message of this market.......

 It went down on " overbought conditions with huge profit to be booked "

 It recovered fast because selling was overdone when we breached 200 DMA in 10 trading days...

 Biotechs and industrial metals stocks are two of the strongest sector...

 Russell and Sox are showing relative strength.....

 Does market need a rest now and go sideways or will it pull back to half of its recent gains.....these are the possible scenario we may face.

 I will hope that it goes sideways with 2% pullback from recent highs.

 No matter what market does, it is important to stay involved in strong behaving stocks, NFLX and AMZN are behaving the-best

 NVDA made a new intraday all time high of $250 on Friday..only stock to do that......

 There are many stocks which are on the verge of many series of new all time highs, those are the ones to be involved with, this is a market of strong stocks which cannot be ignored.

 SO...take a look @ your portfolio again and see where adjustment can be made, last 6 trading days was a tell tale of strength or weakness.

 Good luck with your own take of this market and your own comfort level.

 BLOG does NOT give buy or sell.

 Saleem
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10 comments:

  1. stocktrader_1996February 20, 2018 at 5:59 AM

    Hi Saleem,

    Last week:

    Performance: +7.56% (YTD: +10.33%)
    Notable Winners: X MOMO HCLP MU ACIA LRCX EMN BAC
    Notable Losers: OPTN, CHK SPLK (from purchase)

    It was a huge rebound week, and even though I sold a few positions too early, I can't be upset with the nice outperformance. I look for further market strength, and await some key portfolio earnings within the next weeks (HCLP CHK ACIA SPLK MOMO).

    Holdings: BAC X EMN SPLK MU ACIA HCLP LITE MOMO OPTN TRIL CHK, cash 8.3%

    Stocktrader

    ReplyDelete
  2. stocktrader_1996February 20, 2018 at 6:31 AM

    Hi Saleem,

    Trimmed some X @ 43.97 to take profits.

    Stocktrader

    ReplyDelete
  3. stocktrader_1996February 20, 2018 at 6:32 AM

    Hi Saleem,

    Sold the rest of X @ 44.47 to take profits.

    Stocktrader

    ReplyDelete
  4. Stocks100February 20, 2018 at 7:02 AM


    Hi Stocktrader,

    Weekly gain +8.23%

    YTD down 2.58%

    Saleem

    ReplyDelete
  5. Stocks100February 20, 2018 at 7:06 AM


    Hi Stocktrader,

    Sold NVDA @ $249.00

    Saleem

    ReplyDelete
  6. stocktrader_1996February 20, 2018 at 7:18 AM

    Hi Saleem,

    Nice run on NVDA!

    I was too anxious to get out of X this morning.

    Good luck to both of us in finding the next picks!

    Stocktrader

    ReplyDelete
  7. Stocks100February 20, 2018 at 7:33 AM


    Hi Stocktrader,

    Tripled my position in BZUN @ $36.22

    Saleem

    ReplyDelete
  8. stocktrader_1996February 20, 2018 at 7:44 AM

    Hi Saleem,

    Good luck with more BZUN!

    Second-tier Chinese stocks have done very well off this bottom.

    Stocktrader

    ReplyDelete
  9. Stocks100February 20, 2018 at 7:59 AM


    Hi Stocktrader,

    Bought a tiny position in SNAP @ $19.55.

    Saleem

    ReplyDelete
  10. stocktrader_1996February 20, 2018 at 8:26 AM

    Hi Saleem,

    Good luck with SNAP.

    Stocktrader

    ReplyDelete