China US trade issues are accelerating into overdrive with arrest of Huawei CFO who is the daughter of founder.
China has warned US & Canadian Ambassador in China for consequence of arrest of CFO.
Friday's TAPE ignored good news of slowing job growth.
S&P 500, Nasdaq, SOX & RUT are into " death cross "
Have not seen so many death cross in a long time, does not bode well for this market.
S&P 500 & DOW are close to 52 wk low
Nasdaq getting near 52 week low
RUT closed @ new low for the year.
SO...Technicals are horrible to say the least...
IF we plunge below 52 week low in major indices, we may lose several hundred points in a blink.
Monday could be very critical IF we are to hold support.......
How to play this TAPE depends on your individual trading style, some are for very long term, so nothing to worry there, all this will pass soon.
Those who love stay 100% invested and expect quick return, this is not the market for them, suggest cutting exposure into 50%...
Those who nimble with safe stocks like FEYE CMG VMW TSLA they may be OK with keeping all 4 in a basket of equal $ value.
Those who have taken an inverse position in last 2 months, they are enjoying the best return in a year.
Good luck with your own interpretation of this TAPE and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Sold NIU @ 7.42
Without real progress in the trade talks, I this stock just continues to slide lower. I was too hasty to jump in after the initial G-20 reports.
Stocktrader
Hi Stocktrader,
Good luck with your strategy and new pick.
Saleem
Hi Saleem,
Bought TENB @ 27.11
Taking advantage of this dip for a name I really like for the future despite being in a crowded cybersecurity space.
Stocktrader
Hi Stocktrader,
Good luck with TENB.
Saleem
Hi Saleem,
Almost forgot to post this as I was busy with market and other life (maybe I wanted to forget haha!)
Last week: -6.10% (YTD: +30.11%)
Notable Winners: PRNB HEAR
Notable Losers: everything else, especially TRIL VICR SWN
It was one of the worst weeks I can remember, cushioned only by the fact that the prior week was one of the best. This market is very difficult to trade or invest right now, but I will keep making moves trying to find winners. It is nearly impossible to guess direction right now, so only "relative" strength and weakness can really be played, therefore that is my focus.
Current portfolio: SPLK HEAR AMRN PLAN VICR COUP CSOD APPN DHI LQDA SWN TENB TRIL, cash 0.0%
Stocktrader
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