Indices are all sitting @ support.
Dow, S&P 500 & Nasdaq are all sitting @ double bottom...
SOX sitting @ triple bottom......
Now the question is .....can we rally from here...
Here is how RSI is sitting :
SOX 40.38
GLD 49.12
Nasdaq 49.24
S&P 500 49.62
RUT 53.65
TAN 55.72
Based on above SOX is deeply oversold, this should rally hard, most attractive stock in this area is LRCX.
NFLX is looking good
GOOG may rally
AAPL and all its suppliers are in terrible technical health......
Russell is healthiest in all tech related area, sporting an RSI of 53.65...look for idea in small cap or play this index.....
Based on all of the above, we may have seen the worst already.....
Earnings are rolling in, make sure, you are looking for better than expected results.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Bought TWTR @ 31.54
With both user engagement and monetization increasing, I think these guys are set up for a very nice beat-and-raise. I worry about relative valuation when compared to FB, but I think the stock is still underappreciated and underowned at 24B market cap given its presence and impact in our world.
Stocktrader
Hi Stocktrader,
Good luck with TWTR.....
Saleem
Hi Saleem,
Last week:
Performance: +1.66% (YTD: +16.06%)
Notable Winners: KIDS FDX BABA GTLS OPTN HAL
Notable Losers: VICR MU BOOM
It was a good week for the portfolio with mostly broad gains in stocks. My new strategy of picking stocks off the 52-week high list did not bear much fruit and it was my longer-followed stocks that performed well. I am fairly nervous about the quick rise in interest rates in recent weeks, but I am trying to focus more on earnings and not play the "will others sell?" game. I hope myself and everyone else is positioned well as we encounter many more earnings this week.
Stocktrader
Hi Saleem,
Oops, forgot to put holdings:
BAC SPLK BABA HAL GTLS NSP BOOM FARO OPTN VICR MHO TWTR YY TRIL, cash 3.7%
Stocktrader
Hi Stocktrader,
Last week +2.18%
YTD loss 14.21%
Saleem
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