Sunday, March 12, 2023

US stock market, FEAR vs OPPORTUNITY...

 US stock market is going through another panic selling, SVB is the latest casualty in pain driven FED policy of hike hike & hawkish drum rolling.....

Do not be surprised IF Fed takes a somber look @ the destruction they are causing all over....

Fed is known to flip flop when they are proven wrong @ each turn.....

Fed is either too easy or too hawkish, a middle of the road approach is a wiser one...

NOW FEAR IS @ its PEAK......

BE GREEDY when others are PANICKING...

We have gone through these crisis before and It was a great time to accumulate where conviction is high.

YES there will be more CASUALTY just like what is happening in CRYPTOLAND..one blow up after another.....

BUT....this is the time to buy buy buy

NO CRISIS stays forever...crisis have a shelf life of few days...

IF you can believe It....SOX is above both 50 DMA & 200 DMA

GLD is above also both 50DMA & 200 DMA

WORST is Russell 2000 which has an RSI of 29.60...talk of being silly oversold condition

All major Indices are trading in an RSI range of 34.60 for S&P 500 & 39.29 in Nasdaq

I know I know...lot of bad news...BUT someone has to take the other side of the trade when It Is this oversold....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

6 comments:

stocktrader_1996 said...

Hi Saleem,

Last week: -6.59% (YTD: +22.84%)

Given this is a quickly developing story I'm not sure I have much extra insight, but I do fear that this really hampers future innovation at companies.

Holdings: CIEN PINS BMBL BMEA ZENV, cash 47%

Stocktrader

Stocks100 said...


Hi Stocktrader,

Last week Down 18.32%

YTD UP 10.17%

Saleem

stocktrader_1996 said...

Hi Saleem,

Bought SOXS @ 23.28 to protect the portfolio

Stocktrader

Stocks100 said...


Hi Stocktrader,

Good luck with SOXS

Saleem

stocktrader_1996 said...

Hi Saleem,

Added more SOXS @ 22.28

Stocktrader

Stocks100 said...


Hi Stocktrader,

Good luck with more SOXS

Saleem