Nasdaq & SOX are showing major technical strength by being above 50 & 200 DMA.....both ready to make " golden cross "
S&P 500 is above 50 DMA but below 200 DMA......
DOW only 250 pints away from being above 50 DMA....
It has been a long time since we made such a decisive technical improvement....
Oil made another 18 year low but oil stocks & XLE were flying 10% higher.....
Earnings are coming daily, banks were greeted with downbeat reaction which surprised me.
Earnings for last Q and this Q is a write off considering everything is shutdown @ the moment....
I expect most industries & sectors to get back to operation sometimes in May with new rules and less congestion.....
Airlines, Shipping & Casinos should be operational....in May...
Macau has opened with new format.....
Starting in June which is the last month of Q 2 should bring new reality into Sales picture.
Some states are opening as of Monday as are some Countries relaxing shutdown.....
Gradually we should get some Sales into mix......
Many hard hit industries like Oil, Airlines, Shipping & Casinos will move the-most from here....as they have been trashed the-most.
SO...have a mix of speculative stocks with strong stocks to get max return on investments....
Good luck with your own understanding of economic picture & comfort level with speculation.
BLOG does NOT give buy or sell.
Saleem
15 comments:
Hi Saleem,
Last week: +3.78% (YTD: +4.06%)
Notable Winners: BHVN CRWD FSLY HUYA
Notable Losers: WDC PHM CHGG
It was a great week, especially for NASDAQ stocks. I actually feel like I missed out some because of my lower-than-usual exposure to cloud stocks, but this market is difficult to discern on a daily basis. As we continue from here, the growth stocks are definitely the most expensive ones now, so does that make value stocks better "values" here? or are they a trap as usual? I think the risks are probably roughly balanced, but I'm sure I'll be wrong somehow as the market makes fools of everyone eventually. At this point I'm trying to stay somewhat diversified, more than usual for me, so that I can capture sector good news on certain days.
Holdings: BAND CRWD AVGO WFC CHGG HUYA MCHP ASH KRA BHVN WDC, cash 0.0%
Stocktrader
Hi Stocktrader,
Last week UP 3.33%
YTD loss 16.98%
Saleem
Hi Saleem,
Sold CRWD @ 68.39 to take profits
I can't justify an RSI > 70 in this overall stock environment.
Stocktrader
Hi Saleem,
Bought PLCE @ 26.63
With high short interest, the economy re-opening, and stimulus checks in hand, I think maybe baby clothing could see a nice recovery.
Stocktrader
Hi Stocktrader,
Good luck with your old favorite Children Place....not only babies are cute but they are big spenders by pointing their finger @ everything in sight....parents love it usually more so with extra $500 per child chk on hand.....
Saleem
Hi Saleem,
Sold CHGG @ 36.72 to take profits
I wanted to raise cash for other ideas.
Bought WEN @ 18.30
I think fast food could be a big beneficiary of the both the stimulus checks and they are better equipped to handle the new paradigm of restaurants.
Stocktrader
Hi Stocktrader,
Added 150% MGM @ $14.20
Good luck with "where is the beef "
Saleem
Hi Saleem,
Good luck with more MGM!
Added a very little to WEN PLCE KRA to use remaining cash.
Stocktrader
Hi Stocktrader,
Good luck with more WEN PLCE KRA...
Saleem
Hi Stocktrader,
Sold CNX @ #12.45
Saleem
Hi Saleem,
Good luck with new ideas!
Sold WDC @ 39.62
It continues to lag in relative performance to its closest tech peers, and got a downgrade with PT of $33 today, so maybe it doesn't have what it takes going forward.
Bought ELF @ 10.54
I'm looking for a boost in consumer spending and this name had been taking share prior to the virus falloff.
Stocktrader
Hi Stocktrader,
Good luck with ELF....
Saleem
Hi Stocktrader,
Added another set of 100% MGM @ $13.48
Saleem
Hi Saleem,
Good luck with more MGM!
I hope we are right to lever up here...
Stocktrader
Hi Stocktrader,
Famous song " Don't worry be happy "
Saleem
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