US economic policy of America First has a new twist now, have trade war with just about every nation and its called " winning "....
Trade war never ends right, a fact known to most House of representative and Senators, hopefully they will contain this to a rational level.
This hope of away from extreme position helped Friday being a good day for most stocks.
Canada will suffer the most from Steel Tariffs with 16% export to USA and is number 1 exporter, China is not even among top 10 exporter, rhetoric will make you believe that China is dumping big time in US market, not so.
Equities had to face interest rate hike jitters and trade war rhetoric, testimony by new Fed Chief to law makers was more hawkish than previously believed.
Dow & S&P 500 are still below 50 DMA, while Nasdaq is well above 50 DMA.....
In the short term, we have discounted lot of noise about hike in interest rates and trade war.....
Hopefully, we should have a more positive week in the market.
Dow and S&P 500 could crawl back above 50 DMA.....
February and March have been tough on market so far and have tested patience of most of us.
In this sell off many sectors held up well, the following are notable :
SOX behaved the best
Nasdaq was second best
Russell was third best
Dow looks weakest....
AMAT QRVO NVDA LRCX MLNX NFLX AMZN behaved very well..
VMW C GS HD OLED makes the lowest grade...
All in all we came out more than OK on some challenging issues facing this jittery market...
Good luck with your strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week:
Performance: +0.50% (YTD: +12.90%)
Notable Winners: TRIL SPLK MU, TWTR TDOC X BAC (from buy points)
Notable Losers: CHK MOMO MHO TNA EMN
I managed a gain during this troubled week thanks to some nice outperformers and positive selling/re-buying during the week. This volatile year has provided more opportunities than last with respect to individual outperformers as well as sell/buyback chances. So far my mix of both has worked well this year and I hope I can continue the outperformance.
Holdings: BAC EMN MU SPLK X MHO MCHP TWTR TDOC OPTN HCLP TRIL, cash 8.4%
Stocktrader
Hi Stocktrader,
Last week down 5.75%
YTD down 12.51%
Saleem
Hi Saleem,
Bought GTLS @ 54.28
After a nice quarter and guidance it has traded back into support. It benefits from the growing demand for LNG amid the low natural gas prices.
Stocktrader
Hi Stocktrader,
Good luck with GTLS.
Saleem
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