It has been a relentless downtrend since start of 2022.
Technology stocks has been in a spiraling slump since Q 2 of 2021...a long 15 months bear market.
Airlines Cruise lines Casinos are in a bear market of their own
Crypto currencies got crushed
BUT all that are slowly changing course or are about to....
TAN or Solar stocks are in a fast bull market with an RSI of 72.69...highest in my universe...
JETS or Airlines have the lowest RSI of 53.53 in my universe...
Rest of all indices are above 60 including XLF which is @ 61.97.....
Internals or technicals of this market has turned UP even of worst performing sector, a sign of " bull market in making "
It is time to have more conviction in your own selections instead of chasing new hot stocks
Patience is key when market turns inti bull mode, they all take turns in going UP FAST...
Good luck with your own take on market and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Last week: +5.84% (YTD: -11.35%)
Notable Leaders: ENPH CROX ZENV IONQ PLAY
Notable Laggards: SYM UPWK BMEA
The bull market continued last week and the portfolio rode the wave. Forward thinking and patience has been rewarded the last few months as the portfolio has slowly crept upward in an outperforming way and now sits above market returns for all benchmarks. A sharp decline in long term interest rates, due to a rolling over in many inflation measures and a Fed which is at their "neutral" already, has provided for a healthy market backdrop. As we move forward from here, earnings and individual companies should take center stage as opposed to major market moves. Be on the lookout for end-of-year "anointed" companies that refuse to drop and keep chugging higher daily. Many of the growth companies will report in company days - this could be a good place to find surprise winners.
Holdings: ENPH CROX U PLAY COUP GTLB UPWK SNAP SYM LYFT ZENV IONQ BMEA, cash 0%
Stocktrader
Hi Saleem,
Trimmed ENPH @ 279.31 to take profits and raise cash for opportunistic adds
Stocktrader
Hi Saleem,
Sold ENPH @ 285.12
I feel like there's been a nearly maximum confluence of positive factors contributing to the rise and earnings momentum. When there can't be any better news, it's time to sell.
I now have good cash for other opportunities post-earnings.
Stocktrader
Hi Saleem,
Made small adds to some rate-sensitive names:
SYM @ 18.23
BMEA @ 11.12
IONQ @ 5.37
Stocktrader
Hi Stocktrader,
Last week UP 1.79%
YTD Down 4.97%
Nice profit in ENPH$$$$$$
Good luck with add on's
Saleem
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