Trade jitters are taking center stage with China refusing to engage with USA, Canadian delegation is also reaching a very high frustration with " take it or leave it attitude of US " Trade deal is done with negotiations not dictation. All this international jitters in trade may hit negatively in stock market.
Then there is Fed deciding on interest rate direction @ 2 PM on Wednesday.....
To say the least, stock market may be more challenged than usual this week....
Dow RSI @ 76.63 is in deep overbought territory, may warrant a quick pullback also...
S&P 500 RSI @ 67.62 is also in overbought territory.....
Nasdaq, SOX & RUT are in neutral zone as far as RSI is concerned.....
CRM AAL DAL AMD are strong
FB GOOG AAPL AMZN ADBE @ support
POT stocks continues to grab headlines with their high factor.....ACBFF reports this week and may shed light on their business and industry trend.....
TLRY may hit middle age numbers this week
Marking time for stocks with downward bias may not be a bad thing, as S&P 500 and DOW made series of new all time highs.
Stay diversified to take advantage of rotation which is happening in Stock market.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week's performance: -1.58% (YTD: +41.67%)
Notable Winners: VCEL LQDA TENB
Notable Losers: MDSO APPN MTCH VICR VRNS TRIL
It was a challenging week for my portfolio (and many Nasdaq/small cap stocks) even as the broader market moved higher. A jump in interest rates and a breakout in the DJIA prompted money flow rotation into "value" stocks which hurt many of the high growth stocks I own. I'm not sure how long this situation will last, but I think it's too late to make many changes even if there's another shoe to drop with the Fed expected to raise interest rates this week.
Holdings: CSOD MU SPLK VRNS MDSO VCEL CHGG BEAT PRNB APPN LQDA MTCH AQST TRIL VICR, cash 0.0%
Stocktrader
Hi Saleem,
Sold AQST @ 16.01
There has been a persistent seller for a few weeks now and still remains today. I'll move to the sidelines to see how things develop.
Stocktrader
Hi Saleem,
Sold SPLK @ 116.15 to reduce exposure
Stocktrader
Hi Stocktrader,
Last week loss .50%
YTD loss 29.92%
Good luck with proceeds from SPLK & AQST...
Saleem
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