Indices have digested Syrian strike issue nicely after early negative reaction.
Now that Syrian strike is out of the way, one more negative is behind us.
We should get a nice rally on Monday to celebrate " Mission Accomplished "
Yes...we have heard this jubilation before prematurely, but this time, it was meant to be one shot deal.
Another positive which is all set to go is earnings.
NFLX on Monday after close, should be a strong report.
LRCX on Tuesday after close, should be a good report.
These 2 important report should set a positive tone for the market.
We should also see all the indices get over the resistance of 50 DMA on Monday or Tuesday.
Trade may get another positive with NAFTA getting a positive tone already.....
Trade with China may not escalate into any brawl, Chinese are making all the right moves to rectify trade imbalance.....
With so many positives coming into play, what could go wrong....nothing that i can anticipate for next 48 hours.....
Strong stocks like NFLX, LRCX are a very good bet to bank on.....they are both well above 50 DMA....a rarity these days.....
AAPL is also above 50 DMA..it is worth noting...
Many stocks which are below 50 DMA may eventually move above.....
Many Chinese stocks are hitting lower end of their trading range, many regulatory issues are impacting, content shown or available is being zeroed in by regulatory body.
All in all, some opportunities are @ hand, while most need real fundamental and technical analysis to get comfort in selection.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week:
Performance: +2.83% (YTD: +14.17%)
Notable Winners: KIDS HAL MU SPLK FDX
Notable Losers: YY MHO
When I did the results for the week I was surprised I did so well as it felt worse later in the week due to the Chinese companies underperformance. I did a closer look at my companies this past weekend and feel pretty good about my longer term positioning, although day-to-day it is not always smooth. I hope this earnings season treats everyone well!
Holdings: BAC GTLS FDX SPLK BABA HAL MU MHO KIDS YY VICR OPTN TRIL, cash 0.0%
Stocktrader
Hi Saleem,
Trimmed MU GTLS YY MHO
The chatter around "peak earnings" for MU is reasonable speculation. GTLS has run a lot and recent options activity indicates a pause in the up move. YY has really been broken despite cheap valuation and the upcoming IPO spinoff. MHO could be hit by rising material, labor, and land costs--see how LEN gave up all the post-earnings gains.
Bought BOOM @ ~29.73
I've been doing a bit more work on the 52-wk high list in recent days and this is one that caught my attention (along with VICR last week). I figure any stocks hitting 52-wk highs during this time could be poised for greater moves. I then research further and see if I like the stories behind the stocks. BOOM is the latest one I'll give a try.
Stocktrader
Hi Stocktrader,
Last week was Plus 6.04%
YTD Loss 16.39%
Saleem
Hi Stocktrader,
Some stocks are very difficult to navigate...MU is one of them...
Good luck with BOOM
Saleem
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