Sunday, May 5, 2019

China tariff may spell trouble for markets....

Here we go again.....

 Was afraid it will happen....

 President Trump issued directives to tax $200 billion Chinese goods @ 25% tariff rate effective this Friday....

 North Korea over the weekend also test fired a long range missile near Japan, another provocation....

 Market reaction will be predictable worldwide as of tonight.......

 BUT it may give us another buying opportunity by Monday close...

 TAPE has been erratic lately in trying to correct excess...

 It was euphoric until few trading days ago when RSI was in high 70's.....

 Here is current RSI read :

 TAN           69.24

 Nasdaq      67.88

 SOX           66..77

 S&P 500    66.67

 RUT           62.72

 GLD          44.51

 XLE          36.74

 It is very interesting to note that Solar stocks are top performing sector. 

 Energy is the worst sector followed by gold.

 Russell 2000 made the biggest gain and has shown relative strength which is a very good sign.

 Nasdaq is on top thanks to AAPL AMZN FB MSFT to a large extent.

 SO here we are, international and trade tension are @ center stage again.

 Good luck with your own take of this market.

 BLOG does NOT give buy or sell.

 Saleem




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8 comments:

  1. Stocks100May 6, 2019 at 5:07 AM


    Hi Stocktrader,

    Bought BZUN @ $45.62 in pre-market.

    Saleem

    ReplyDelete
  2. stocktrader_1996May 6, 2019 at 6:07 AM

    Hi Saleem,

    Nice buyback on a strong stock.

    Stocktrader

    ReplyDelete
  3. stocktrader_1996May 6, 2019 at 6:12 AM

    Hi Saleem,

    Last week: -1.26% (YTD: +7.88%)
    Notable Winners: LITE TWTR VICR
    Notable Losers: RUN SMAR TWST URI

    It was a tough week for some of my stocks, but I'm still working to find the next winners. This market pullback on trade concerns should provide nice opportunities given the major cash I raised last week. I think one important thing to consider is that the Fed has made a major pivot to viewing inflation numbers as the key indicator for the interest rate path, which could provide easy money to the market for years to come assuming physical economic activity remains subdued in favor of technological economic activity.

    Portfolio: SPLK VICR STX TRIL, cash 75.0%

    Stocktrader

    ReplyDelete
  4. stocktrader_1996May 6, 2019 at 6:34 AM

    Hi Saleem,

    Added to SPLK @ 130.65

    Bought LITE @ 60.65

    Looking for more today.

    Stocktrader

    ReplyDelete
  5. stocktrader_1996May 6, 2019 at 6:39 AM

    Hi Saleem,

    Bought SMAR @ 40.52

    Bought VYGR @ 22.99

    Bought FSLR @ 60.16

    Bought some NIU @ 8.79

    Stocktrader

    ReplyDelete
  6. Stocks100May 6, 2019 at 6:43 AM

    Hi Stocktrader,

    Good luck with vygr fslr niu lite and more splk.

    Saleem

    ReplyDelete
  7. stocktrader_1996May 6, 2019 at 6:58 AM

    Hi Saleem,

    Added a little more to NIU @ 8.75

    I think the partnership with Volkswagen today to build an e-scooter model shows that NIU has staying power.

    Stocktrader

    ReplyDelete
  8. Stocks100May 6, 2019 at 8:28 AM


    Hi stocktrader,

    Good luck with more NIU.

    Last week UP 4.64%

    YTD UP 83.28%

    Saleem

    ReplyDelete