After months of threats there seems to be a 90 day ceasefire in US China trade talk.
90 days duty stays @ 10%.....
90 days to resolve all issues...
90 days China will buy huge amount of US goods
April 1 may see either an agreement or back to stalemate..
Market should react positively in this half baked arrangement....
Wednesday market is closed for national mourning for Bush senior
We had the best week for S&P 500 & Nasdaq since 2011
Many stocks have come alive in last 5 trading days..
Of all the indices only Dow is above 200 DMA, but below 50 DMA
S&P 500, Nasdaq, SOX & RUT all below 50 & 200 DMA
After last week run, it was logical for market to pause for few days, BUT we have this 90 day arrangement between US & China......that may push stock markets into mild overbought territory, currently RSI ranges from 50.84 in RUT to 54.86 in DOW...
IF we rally, then it may be a good idea to book profit and then see how market is behaving and which sectors are strong.....
MSFT has become the most valuable company in the world in market capitalization.
Biotechs are running away to new highs...
Retailers are struggling, even AMZN with the strongest Black Friday and Cyber Monday is well below its high.....
AAPL is stuck in the mud spinning wheels...
SO.....stay with strongest stocks and keep an eye on any profit taking which may develop IF we rally hard Monday open.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
16 comments:
Hi Stocktrader,
Sold NVDA @ $173.50
Saleem
Hi Stocktrader,
Added 75% SQ @ $72.76
Saleem
Hi Saleem,
Bought NIU @ 8.33
I thought I'd try this position again after more activity in the electric scooter space and a thawing of the trade tensions.
Stocktrader
Hi Saleem,
Good luck with your swap--NVDA was great!
Stocktrader
Hi Stocktrader,
Bought MTCH @ $41.00
Saleem
Hi Saleem,
Good luck with MTCH.
Stocktrader
Hi Stocktrader,
Good luck with NIU.
Saleem
Hi Saleem,
Sold SEDG @ 38.91
I was late to the party to take profits on this trade after such a great run. A recent analyst note last Friday showed how future earnings power could be limited by competitors.
Bought SPLK @ 108.48
After such a great report, I look for this to be a winner into year end.
Stocktrader
Hi Stocktrader,
Good luck with SPLK.
Saleem
Hi Stocktrader,
Bought ROKU $41.10
Saleem
Hi Saleem,
Good luck with ROKU. Lots of moves for us today!
Stocktrader
Hi Stocktrader,
Sold AMD @ $23.20
Saleem
Hi Saleem,
Very nice move on AMD!
Stocktrader
Hi Saleem,
Last week: +5.48% (YTD: +38.56%)
Notable Winners: PLAN PANW CSOD SPLK VICR TRIL PRNB HEAR
Notable Losers: AMRN SWN LQDA SEDG
It was an amazing week after Powell backtracked on his most hawkish outlook for rates. I was positioned well enough here to capitalize despite some underperformers in the portfolio.
Holdings (including today's moves): VICR DHI AMRN SPLK SWKS CSOD HEAR AVLR LQDA SWN NIU PRNB TRIL, cash 0.0%
Stocktrader
Hi Stocktrader,
Bought NVDA @ $167.45
Saleem
Hi Saleem,
Good luck with NVDA.
Today has been full of opportunities to both buy and sell.
Stocktrader
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