When all Indices were making series of new all time highs, a drone attack disrupted this uptrend.
Market will and should wait for retaliatory attacks and counter attacks which may become norm.
War of words and missiles will dominate news....
Tweets will get uglier by minute and action may follow....
How market takes this is yet to be seen.....
Market has to figure out " how much is rhetoric and how much is reality "
While we wait for verdict .......
Indices are comfortably near all time highs...
Here is the picture of RSI :
S&P 500 65.74
Nasdaq 68.27
DOW 62.20
SOX 62.68
IWM 61.61
XLE 66.35
GLD 81.90
Analysis of above tells me that GLD is overbought and rest of market is buyer friendly healthy....
Any dip or pullback needs to be dealt with patience or strategic buying for swing trading.
We have entered an era of uncertainty and volatility short term.....we just have to watch what develops in International arena......
I have a strong feeling that Trump strategy will fail miserably this time and will be counter productive.....thus good for market.
Good luck with your own interpretation of non market driven events and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Trimmed SOXS @ 21.83
Stocktrader
Hi Stocktrader,
Sold AMRN $20.64
Bought MRVL @ $25.98
Saleem
Hi Saleem,
Last week: +2.27% (YTD: +0.60%)
Notable Winners: PSNL AVLR DDOG
Notable Losers: PS
It was a great shortened week as I positioned with some key individual winners, but also found success in some short exposure. The market has started the year with some volatility, but that should provide opportunity as well.
Current Portfolio: FAZ (25%), PLAN SOXS AVLR DDOG CSOD PS MOMO PSNL, cash 8.1%
Stocktrader
Hi Saleem,
I do find the underperformance of the Russell 2000 curious considering the small caps often see the best flows in the new year.
Stocktrader
Hi Saleem,
Good luck with the swap to MRVL--semis on this pullback seem the right call!
Stocktrader
Hi Stocktrader,
Last week UP .61%
YTD UP .61%
Saleem
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