Indices closed mixed....
S&P 500 @ 3223.38, low 3220.51, high 3226.43
RSI @ 75.32
CMF @ 0.099
Internals were :
UP volume led by 1.27 to 1 in NYSE & 2.26 to 1 in Nasdaq
Advancing stocks led by 1.35 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 182 in NYSE & 125 in Nasdaq
VIX UP .48% @ 12.67
Oil @ $60.52
Gold @ $1504.08
Portfolio CIEN LSCC MRVL MU MOMO TWTR
Stocks which closed green included BZUN SQ TLRY SPWR
TSLA AEM SHOP ROKU CGC CRON PRNB CSIQ CTRP
AMD SWKS KBH......
This BLOG will return after holidays on Thursday Jan 2nd, 2020 with a closing BLOG around 9 PM. I will be in USA to visit my mother.
BLOG does NOT give buy or sell.
Saleem
11 comments:
Hi Saleem,
Safe travels and enjoy your family visit!
We are out of town for a short vacation to a waterpark with the kids, but I made a few moves today that I'd been planning for a while:
Sold VICR @ 46.06 to take profits
Sold GTLS @ 66.93 to take profits
Sold LITE @ 79.24 to take profits
Bought FAZ @ 27.76 and then 50% more @ 27.73
With election uncertainty, and very overbought conditions in an industry getting disrupted on multiple fronts right now, I thought this the right hedge for the portfolio in the new year.
Bought PS @ 17.50
This is a position I've been waiting so patiently on until the new year. I think the short term troubles were temporary as online learning has a long runway ahead of it, and the decline has created a value opportunity here.
Stocktrader
Hi Saleem,
Dipped my toe back into PTON @ 25.71 on this recent decline
Stocktrader
Hi Stocktrader,
Enjoy your vacation.
Good luck with FAZ, PS & PTON
Bought CLDR @ $11.90
Saleem
Hi Saleem,
Thanks, and I hope yours is going well also!
Good luck with CLDR!
Stocktrader
Hi Saleem,
Bought SOXS @ 20.79 to prepare for profit taking in semis and as a portfolio hedge
Stocktrader
Hi Saleem,
Almost doubled my SOXS @ 20.75 to use my remaining cash
I want to start the year with nearly flat market exposure, but long on some of the beaten down names that could have a good 2020.
Stocktrader
Hi Stocktrader,
Good luck with SOXS...
Good strategy for near term overbought situation!
Saleem
Hi Saleem,
Last week: +1.97% (YTD: +22.36%)
Notable Winners: TRIL LK HCAT BHVN GTLS (all sold), PTON (bought Friday)
Notable Losers: DDOG
Again the portfolio outperformed, thanks mostly to a melt-up in prior winners. I have since taken profits on all of them, and have put on short exposure to hedge the portfolio given the highly overbought conditions in many popular names. I'm not exactly sure this is necessary, but I thought it smart to stick with my original plan to see how the market trades into the new year.
Holdings: FAZ (25.5%), SOXS (17.5%), PLAN AVLR DDOG CSOD PS PTON PSNL, cash 0.0%
Although it is difficult to exactly estimate how much protection vehicles like FAZ and SOXS give, I am hoping to be near neutral exposure with this allocation. I will continue to evaluate as we move forward.
Stocktrader
Hi Saleem,
Sold PTON @ 27.58 to take profits
Did this early today, and forgot to hit enter on this post, lol! I guess I should have waited to sell though, but it's fine--this was merely a trade, and it worked pretty well.
Stocktrader
Hi Saleem,
2019 Year Ending Totals:
Portfolio: +24.32%
S&P 500: +28.88%
Nasdaq Composite: +35.23%
Russell 2000: +23.72%
A furious charge into year end helped the portfolio end respectably despite the major underperformance for many months. I was underinvested and skeptical to start the year as it was hard to grasp that Powell could change his tune so quickly from hawk to dove, but in the end, that change helped investors throughout the US and World. I do not know what 2020 will bring given many looming issues including the election and trade, but I'm starting with nearly flat exposure and will make adjustments as the year progresses.
Happy New Year to all and best wishes!
Stocktrader
Hi Saleem,
Bought MOMO @ 35.35
After the Chinese central bank looks to continue easing monetary policy, and trade tensions easing, I needed some Chinese exposure in what could be expanding earnings and multiples.
Stocktrader
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