US stock market shocked every trader / Investor since 2020.....
First it went parabolic with stay @ home stocks then it tanked into a serious bear market om inflation & its fight through higher Interest rates by world Central banks....
Now we have entered last phase of hikes in rates thus a major reset to bull scenario from extreme bear.
US stock market has reacted nicely to this changing scenario.
We have moved UP to cross first resistance....
VIX has fallen to lowest level in months....
All this means that, we may have to digest recent gains....which takes time...
We may trade in a very narrow range until interest policy changes,,,
Few weeks of digestion is not such a bad thing...
We all can plan & look forward to s sustained bull market in 2023....
One should focus on stocks to keep and new investing stocks to add when possible.
Nasdaq went down to 30 months low in last week of December 2022, It may not be out of possibility to think that we may be looking @ bull run for minimum 30 months....
The way we showed conviction in bear market, we must display the same in this new bull run...whenever it reasserts its existence.
Generally bull market is twice as long as bear market, thus preparation for bull market may be profitable like Y2k or 2008 low.....
Market will go through its own pace which involves UP days and few down days.....
We are looking @ a very profitable juncture which started in December 2022...
Where to invest or trade is a personal approach, some like It risky, some highest risk, some medium risk and some very conservative or lowest risk, you have to look for stocks based on your own investment objective.
Most sectors are looking good and investible, RSI is a good way of knowing when to buy or add.
There are other overbought / oversold technical indicators which one can use for an entry point.
Bottom line is, market has changed, long term bull market has started already but It IS overbought in near term....
Good luck with your own analysis and understanding of where we are in in this investing cycle, we are proven wrong @ any juncture.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Last week: +11.66% (YTD: +13.52%)
Portfolio Leaders: LYFT IONQ PLAY UPWK ZENV (all >+10%)
Portfolio Laggards: none
It was a huge week for the portfolio as the beaten down stocks of last year found strength in the face of tamer inflation data and calendar help. As earnings season hits full stride, seeing which growth stocks managed to weather the storm will be a key focus for me in determining the new winners for 2023. I have some room to diversify the portfolio with multiple positions over 10%, greater than usual, as I stuck with comfort picks during the difficult times. Hopefully some new ideas will reveal themselves soon :)
Holdings: SYM SNAP UPWK PLAY BMBL IONQ LYFT DDOG BMEA ZENV, cash 0%
Stocktrader
Hi Stocktrader,
Last week UP 16.67%
YTD UP 21.49%
Saleem
Hi Saleem,
Way to charge out of the gates this year!!
Sold SNAP @ 9.61
Bought PINS @ 26.99
The SNAP downgrade today is concerning from a short term standpoint and I'll shift to the better chart heading into earnings.
Added small to BMBL @ 23.58
Stocktrader
Hi Stocktrader,
Added 110% LSPD in Toronto LSPD.TO @ $21.60, tried yesterday when Toronto was open but NO luck
same price today but was lucky enough to be filled.
Good luck with PINS and more BMBL...a great pick @ right price....
Saleem
Hi Saleem,
Good luck with more LSPD! This year has been so much better and easier - almost forget what it was like to have a few weeks like this every once in a while...
Stocktrader
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