US stock market has been struggling to discount many known and unknown issues which has cropped up since start of 2022.
It is almost 100 days where market has struggled to keep up with uncontrollable inflation, higher interest rates and war in Ukraine
Discounting / digesting these issues has not been easy for US stock market, which is the world largest economy and spearheading action against Russia which is the 3rd biggest economic power....
All 3 issues are in a non decisive stage, more work needs to be done, thus US stock market cannot make its mind whether to go UP / DOWN or sideways....your guess is as good as mine.
Strictly based on sentiment, market is very close to finding support, buying on weakness may be a good strategy.
Oil may be toppy now, profit needs to be booked in oil related stocks.
A well diversified portfolio is the only way to be in this type of sloppy market.
World Central banks are getting aggressive in hiking interest rates, Canadian Central Bank is expected to hike by 50 basis this Wednesday.
Fed is expected to do the same...
Having highest conviction portfolio is a safe way to be in this market.
Good luck with your own interpretation about this market and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week: +1.65% (YTD: -6.67%)
Notable Leaders: TZA BMEA
Notable Laggards: PLAY VERI LITE ZENV ENPH SNAP
In a pullback week, the portfolio performed well thanks to the TZA hedge. A combination of an aggressive Fed with fading economic growth due to high energy/gas/food prices has put the market on the back foot for now. We remain well off the lows from a few weeks ago though, and those lows potentially still represent the bottom marker. As the market drops, I need less hedge and will likely poke around at some new positions.
Holdings: TZA(45%) DE SNAP ENPH PLAY LITE VERI ZENV BMEA, cash 0%
Stocktrader
Hi Stocktrader,
Last week Down 8.36%
YTD UP 5.98%
Saleem
Hi Saleem,
Trimmed some TZA @ 34.77
Bought CXM @ 13.86 on good earnings results and takeover potential
Stocktrader
Hi Stocktrader,
Nice $$$$ in TZA
Good luck with CXM.....
Saleem
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