Indices closed near high of the day. Wait is on for Friday's job report on a holiday Good Friday. Canada's jobs report came in well above forecast raising fear of ongoing inflation.
S&P 500 4105.02, high 4107.32, low 4069.84
RSI @ 60.74
CMF @ 0.256
Internals were :
UP volume led by 1.34 to 1 in NYSE & 1.65 to 1 in Nasdaq
Advancing stocks led by 1.28 to 1 in NYSE & 1.33 to 1 in Nasdaq
Net new highs were leading by 3 in NYSE & lows by 115 in Nasdaq
VIX Down 3.56% @ 18.40
Oil @ $80.70
Gold @ $2026.40
Canadian $ @ .6523
Stocks which were UP 1% or more included ARKK
AI COIN TTD EXAS RBLX UAL NCLH SNAP
FSLR TECK PAAS MGNI CLF PINS DKNG
MSFT ZM ESTC NVAX TWLO META AEM
BABA GOOG ROKU MU RH OSTK....
Here is my portfolio weighting 75% exposure :
SHOP 42.99%
ARKK 42.66%
LSPD 7.18%
SQ 7.17%
Next post on Sunday by 6 PM.
Enjoy your long weekend!!
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
I'm back from vacation and trying to catch up!
Two weeks ago: +1.05%
Last week: +6.22% (YTD: +27.29%)
Notable Portfolio Leaders: SOXS SARK PINS
Notable Portfolio Laggards: ZENV FRC
So, I've come to realize that I've been very net short given the triple short nature of the SOXS. Although that has served me well in this past week, it is too much on an ongoing basis. I tried to reduce some SOXS exposure (along with cutting SARK in half) on Thursday but my limit order never filled and then the market rallied into the afternoon. I will look to shrink up that exposure next week.
The market pulled back after the big runup recently and my portfolio benefitted. This is probably just a pause in a bull market, but we will need to clear the double top formation in the NASDAQ especially, which is the leader of this run. The weakness in the small caps bothers me though, so I think the market is still trying to some figure things out: like how much earnings will be hurt by tightening lending standards competing with a Fed that appears nearly done. I am not sure these upcoming earnings reports will tell much, and we may need to wait for later in the month or May ones to full know.
Holdings: SOXS (28%), SARK (20%), PINS (11%), BMBL (11%), ZENV (4%), cash 26%
Stocktrader
Hi Stocktrader,
Last week Down 5.01%
YTD UP 33.57%
Saleem
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