Sunday, April 2, 2023

US stock market has more room to go UP.....

 US stock market is leading world stock markets with an incredible UP move.

Since October of 2022, a long 6 months has been extremely stressful with " pain and how high Interest rates can go push by Fed "

Fed has not changed its rhetoric of higher rates longer mantra

BUT of all, US stock market is following Its OWN rhythm, like It or NOT, Indices are on a bull run....

Fed these days is NOT a leader, Its a follower of established trends lately unlike Ben Bernanke days or even Greenspan moments of surprise cuts.....

IF I look @ my universe of Indices / Index, 4 of them are in a well defined bull run, they are Nasdaq, SOX, S&P 500 & GLD

SOX is the king of all, already made a new interim HIGH....

Nasdaq is all set to make a new interim high in max 2 business days of UP move even in 1 IF HFT gets excited on Monday's run of the roses...

GLD can be a contrary US$ play, should do well going forward

XLB Is looking good also, growth equals commodities hyper cycle...

SO....It means...IF you get the direction of this market right....which IS UP...then a focus on 5 stated sector should keep an smile for a long long time....

This bull party is just getting started, new HIGHS begets SERIES of NEW HIGHS......

This may be the biggest Technology party since Y2K....Nasdaq & SOX should rule big time....

Good luck with your own research, making money was not this easy since 2008.....a long 15 years ago...

BLOG does NOT give buy or sell.

Saleem

5 comments:

stocktrader_1996 said...

Hi Saleem,

It definitely looks like a bull market now!

I am on vacation until Thursday and won't have the weekly numbers until then, but I was roughly flat as my shorts lost while individual stocks gained (like IONQ).

I will be revisiting my positioning this week and maybe will get a pullback to get better exit points on my shorts.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Enjoy your vacation.

Good to be ready for a change in direction, adjustment to new reality is the KEY .

Last week UP 13.94%

YTD UP 38.58%

Saleem

Stocks100 said...


Hi Stocktrader,

Bought SQ @ $67.50
Bought LSPD @ $14.70

Saleem

stocktrader_1996 said...

Hi Saleem,

Good luck with the new positions!

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold IONQ @ 6.11 to take profits

Stocktrader