Indices are fighting valiantly against uncertainty due to trade war and rising interest rate scenario.
All indices are within striking distance of getting close to new all time highs.
Here is a list of how far indices / sectors are from new highs :
S&P 500 33 points away
RUT 36 points away
SOX 83 points away
Nasdaq 122 points away
Dow 1139 points away
Here is how RSI in all indices / index
S&P 500 63.01
Dow 62.72
SOX 56.78
Nasdaq 55.57
RUT 48.92
Based on RSI, S&P 500 & Dow are looking very healthy and should make new all time highs soon. Russell is weakest .
CMF is positive in all indices / index
Based on how close we are to making new all time highs, market is behaving well.
Strong stocks are behaving well and are making new all time highs already.
In a diversified portfolio, individuals can do as well as market.
Gold is getting deeply oversold and may warrant a look AEM is a good stock and is trading near lower end of range.
Solar stocks also behaving well lately and may have found a bottom, JKS, CSIQ looks good technically.
Good luck with your own strategy and your take on markets.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week's performance: -1.32% (YTD: +30.07%)
Notable Winners: BEAT
Notable Losers: VRNS HUYA APPN TRIL MOMO SAIL
It turned out to be a rough week based on some earnings reports and weakness in Chinese new-economy stocks. I feel an uneasiness about the market with continued worldwide declines and some weakening of the small cap indices.
Holdings: BEAT VICR APPN PANW PYPL VRNS SPLK TPIC DAVA GSKY SAIL MU PS TRUP HUYA VCEL TRIL TENB MOMO, cash 0.0%
Stocktrader
Hi Stocktrader,
Last week Down 4.16%
YTD loss 30.59%
Saleem
Hi Saleem,
Sold PYPL @ 85.37
I needed to raise some cash, and this was the stock acting most sluggish. I'll probably buy it back tomorrow when I sell PS and/or TRUP (since I've somewhat re-thought my positions in these).
Bought CSOD @ 51.16
After years of sluggish momentum, these guys seem finally back on track. They are very cheap compared to their cloud peers, and this positions them for gains either because of share appreciation or a takeover.
Stocktrader
Hi Stocktrader,
Good luck with CSOD.
Saleem
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