We saw different reaction to many earnings report which came out last week.
Some good GOOG TWTR
Some bad TSLA AMZN
Next week we have more earnings reports, some key ones for market and me are :
Tuesday AAPL
For me
Tuesday AMD
Thursday SQ
Market is getting ready to see what AAPL has in store.....
So far we have seen new or series of all time highs in S&P 500, Nasdaq, SOX & DOW
Big laggard is Russell 2000....which is 163,12 points away or 9.36% from making new all time high, it may happen with Q 3 earnings season....
RSI is elevated but not alarming, they are :
SOX 69.42
S&P 500 64.29
Nasdaq 64.21
DOW 61.13
RUT 58.06
As you can see SOX is the star performer here, which is a good thing.
Russell 2000 is inching up slowly to make the grade.
Earnings are hard to predict but it needs to be done individually based on your in-depth knowledge of your stocks, rewards can be fast......
Some earnings reaction are extremely positive because it was not expected to be good or some metrics were better than expected....GOOG & TWTR meets those criteria.....
GOOG was clear winner so far as it beats estimates in all metrics by a mile, thus can be added to any portfolio with huge buyback of stock in play also......
SO...we wait for earnings few more weeks while Fed decides on .25% cut....which may be priced in by then.......
China US trade stalemate continues.....thus no help to market......
SO.....play your earnings trade wisely, take the money and run as markets are elevated and may be getting ready to go south sooner than later.
Good luck with your own comfort level and strategy!
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
Last week: +3.57% (YTD: +19.06%)
Notable Winners: CSTL ACST MHO CIEN URI PLAN SAIL
Notable Losers: BCEL VICR RUBY
It was a great week for the portfolio with some very large wins somewhat offset by a few poor performers. The market continues to be ripe for rise with measured gains and proper basing in the charts coupled with balanced sentiment and constructive RSI. I think only hawkish commentary from the Fed can derail this train, and Powell seems to have learned that lesson already from his prior mistake last Fall.
Holdings: PLAN MHO CSOD CIEN ALB GTLS COHU CSTL VICR CHNG RUBY BCEL TRIL, cash 0.0%
Stocktrader
Hi Saleem,
Sold VICR @ 29.55 on continuing China and datacenter challenges
Bought IBP @ 53.23 on housing strength
Stocktrader
Hi Stocktrader,
Last week Down 3.48%
YTD UP 78.31%
Saleem
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