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
8 comments:
Hi Stocktrader,
Bought BZUN @ $45.62 in pre-market.
Saleem
Hi Saleem,
Nice buyback on a strong stock.
Stocktrader
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
Hi Saleem,
Added to SPLK @ 130.65
Bought LITE @ 60.65
Looking for more today.
Stocktrader
Hi Saleem,
Bought SMAR @ 40.52
Bought VYGR @ 22.99
Bought FSLR @ 60.16
Bought some NIU @ 8.79
Stocktrader
Hi Stocktrader,
Good luck with vygr fslr niu lite and more splk.
Saleem
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
Hi stocktrader,
Good luck with more NIU.
Last week UP 4.64%
YTD UP 83.28%
Saleem
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