Buy in May.....
YES still 2 day's left to buy in May...
A famous technical analyst in Canada whom I follow is predicting this uptrend has legs and will continue whole June...my disclaimer...usual UPS & Downs not withstanding...YES he has been wrong many times like most technical analysts
Overexposure near lows has been profitable for me ...most of the time I am a tad early which is fine.....
Markets in USA has been tough tough tough since January but extremely tough for Technology stocks for almost 1 straight year....
A prolonged weakness in any one sector has been repeated many times in the past even for Technology stocks.....
Last huge slump came right after Y2K mega rally, when this slump was over many Technology stocks lost 50% of its value and some filed for Bankruptcy.....
This time retreat has been much faster and more intense like pullbacks of over 70% more like norm..
Good news IS that we are NOW coming out of this slump....
Expect huge rallies due to strength of this comeback and " short covering "
SO..It IS wise to be " overweight technology stocks "
Reopen stocks will have much more sustained rally going into 3 year UP cycle...where prices will surprise most players...
Most world markets are UP today due to relaxation of COVID-19 rules by China, another huge May surprise...
Expect a very strong day on Tuesday in US stock market.....
Do NOT overthink...things are changing very fast....
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week: +0.91% (YTD: -18.68%)
Notable Leaders: CXM GTLB UPST ENPH PLAY
Notable Laggards: SNAP BMEA ZENV LYFT
In a week that saw the strongest gains in many months, the portfolio underperformed due to SNAP's surprise warning and some other individual names weakening. As we look ahead, the price action seems to indicate a durable bottom whereas the primary concerns of the market remain. This could lead to a true "climb the wall of worry" situation, but is likely the volatility remains. I have tried to position the portfolio for the next potential growth upswing, but week to week there can still be challenging developments. For now, I think the weakened consumer confidence will lead to a Fed that ends up not being as aggressive, which should provide support ultimately for growth and markets. There is no quick fix for high commodity prices though, and that will remain a sticking point.
Portfolio: ENPH PATH GTLB SNAP BMBL UPST CXM PLAY LYFT ZENV IONQ BMEA, cash 0%
Stocktrader
Hi Saleem,
Trimmed a little PATH @ 17.43 ahead of earnings
Added to LYFT @ 17.87
Stocktrader
Hi Saleem,
Trimmed a little ENPH @ 188.00
Added to PLAY @ 38.44
Stocktrader
Hi Stocktrader,
Last week UP 5.84%
YTD Down .06%
Good luck with swaps.....
Saleem
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