Friday was a bad day when Nasdaq lost 1.46%, INTC and TWTR caused this reaction on below expectations earnings.
Here is a look @ RSI to see what is happening below the surface :
DOW 65.53
SOX 54.39
S&P 500 50.41
Nasdaq 49.80
RUT 44.34
As you can see that leadership group of Nasdaq and RUT are the weakest, they are in leadership role in any uptrend.
Dow is the only index which is in healthy state.
RUT ( Russell 2000 ) dropped below 50 DMA only major index to do so.
Based on selling on Friday, we may get a trading / oversold bounce @ open, how we sustain that open will depends on tweets / other news.
There are few earnings where I am involved :
Tuesday :
AAPL BIDU IQ
Wednesday
SQ TSLA
SO.. i am involved with 3 out of 5 earnings, hopefully they will behave with positive reaction....
So far earnings have been mixed in terms of reaction , NFLX FB TWTR INTC were the most negatively impacted.......
Coming week we may have better chance of reaction based on two factors, one, we are oversold which helps in ignoring some so so earnings and secondly, we may get better quality of earnings.
Good luck with your own portfolio and comfort level.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week's performance: -3.01% (YTD: +31.80%)
Notable Winners: VICR AVLR BEAT DAVA
Notable Losers: TRIL GSKY IOVA MOMO KIDS VCEL SPLK VRNS SAIL SWKS TPIC IQ
It was really an ugly week with most of my portfolio down except for some nice earnings beats and special situations. Although it is difficult to predict market sentiment, I hope I continue to pick the earnings winners as this season rolls on.
Holdings: VICR BEAT VCEL KIDS HUYA PANW PYPL MU SPLK SAIL IOVA DAVA VRNS APPN GSKY TRIL MOMO IQ TPIC, cash 0.0%
Stocktrader
Hi Stocktrader,
Last week UP 2.87%
YTD loss 26.43%
Saleem
Hi Saleem,
Trimmed a little VICR @ 56.95
Bought a little more TPIC @ 30.73
VICR was the obvious trim being the largest position, especially as I started to worry a bit about its valuation.
I really like the setup for TPIC both going into earnings, and also for the next years as order backlog increases dramatically.
Stocktrader
Hi Stocktrader,
Great run with VICR UP UP & away $$$$$
Good luck with more TPIC
Saleem
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