US stock market has defied Fed & shorts since last October lows.....
Fed tried & tried by racing rates UP to breaking banks & Financial stability with inverted yields, a non workable situation in thin margin banking....
For Nasdaq, SOX & Gold trend is your friend
CNBC is full of skeptics and for rating purpose, they are in prime focus, fear sells rating....
Sadly everyone will wake up within 2 weeks that some Indices may be making new highs.....
Talking of superb performance, Gold is number 1 in my universe with highest RSI of 64.21
SOX is second best with RSI of 57.70
Nasdaq loved by few and ignored by many is third best with RSI of 57.14
S&P 500 is fourth best with RSI of 49.98
XLF is lowest performer with an RSI of 32.04
IWM is 2nd worst with an RSI of 38.15..home of Regional banks & Financials
XLE rounds UP 3rd worst with an RSI of 39.21....how mighty have fallen
All of the above is telling you to " follow the trend with an ETF IF you are not sure which stocks to pick...they all have 1X 2X & 3X ETF to suit your instinct
Many struggling stocks from last year like FANG & AAPL are getting bids....and they are the new & improved way to make money....again ETF may be a better strategy.
Nasdaq is poised to excel going forward.....
Worlds economies are in shamble with lowest GDP growth from CHINA to USA.....thus rate cuts will be fast & furious....
YES...there are many ways to lose money on Wall Street BUT few ways to keep moving ahead...
Good luck with your own choices, follow the FEAR or BE GREEDY NOW
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Last week: +0.01% (YTD: +18.59%)
Portfolio Leaders: ZENV SARK(from midweek purchase)
Portfolio Laggards: SOXS
In another up week for the markets, my portfolio suffered from very little long exposure and some partial short exposure. I find very little reason to be in growth stocks right now, other than the expectation that the Fed is soon done raising interest rates. Is that enough to offset a challenging backdrop of spending and lending? I'm not sure, but I hope to hear more from companies in the coming month. That said, some of my previous holdings have done quite well and I'm left with only lamentations. I am watching developments carefully to gain more confidence in forward outlooks.
Holdings: SOXS (48%), SARK (23%), IONQ (10%), ZENV (4%), cash 16%
Stocktrader
Hi Stocktrader,
Last week UP 6.14%
YTD UP 24.64%
Saleem
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