US stock market has been subjected to many many challenges in terms of northbound moves for 18 months...
After 6 months of downward sloping action, there are signs of hope.
Major indices are showing sign of stabilizing in a much more defined way.
All major indices are heading towards 50 DMA
Nasdaq is best positioned to take out 50 DMA on Monday @ open....something we could not have imagined when we were trying understand world issues impacting equities.....NOW WE CAN...
IF Nasdaq takes out 50 DMA as expected and close above, we are going to see a major UP move in Technology.
Oil is pulling back..
Gold has pulled back
Bitcoin has crashed
Commodities are in deep slump
All of these southbound action is telling us that discounting in all arena are just about over and may be we are looking @ STABILITY
I do not recall ever that we faces so many challenges all @ once from Covid-19 to War in Ukraine with runaway inflation and rising interest rate " talk of QUAD hammering "
BUT...it seems we have just about discounted everything by now and know the extent of all adjustment....
Stock market looks 6 months ahead.....2023 looking very promising.....
2023 cost will be known and companies will know how to price them in new reality...
Technology may rule again based on relative strength
Solar stocks are becoming leading indicator of a major shift in focus
SO...start putting your investing / trading hat on..as good times may be here for a long while.
Here is my portfolio weighting :
ARKK 32.75%
UAL 16.39%
MGM 16.11%
HST 11.94%
PLTR 10.15%
BTCC 5.20%
NCLH 5.18%
SOFI 1.18%
RIOT 1.10%
There was a major outage on Friday of internet for 23 hours straight for Rogers Communications customers ( RCI trades in Toronto & NYSE)..was totally out of contact with entire world as I am 100% WIFI based.
BLOG does NOT give buy or sell
Saleem
2 comments:
Hi Saleem,
Sorry to hear about the internet outage - it is very hard to be disconnected these days! Hopefully you found some peaceful activities to undertake :)
Last week: +8.99% (YTD: -15.07%)
Notable Leaders: SYM MDB SNAP IONQ ZENV ENPH
Notable Laggards: PLAY
The volatility continues for the market and the portfolio, with this week being nicely up on both. An interesting observation is that many growth stocks actually bottomed two months ago and have been forming nice bases from which to potentially surge again. Several inflation measures have already seen their peak, so the hope is that the Fed will not have to slam on the brakes so hard. Due to this, I've added a bit of consumer discretionary as maybe the US economy finds a happy medium with lower prices but yet still good wages. As we enter mid-July, earnings will become center stage to see "how bad it really was" in the second quarter. There will likely be more volatility and opportunities ahead. I will keep my eyes open for great companies unnecessarily punished during a temporary lull.
Holdings: ENPH SNAP PLAY COUP GTLB SYM UPWK CROX LYFT IONQ BMEA ZENV, cash 0%
Stocktrader
Hi Stocktrader,
Thanks for your message re outage, there is a high level meeting today from Minister incharge and all big provider of internet services, it is not being taken kindly by anyone.
Last week UP 6.46%
YTD Down 8.50%
Saleem
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