US stock market is in bullish mode by hitting closing highs for the year....
VIX making series of new 52 week lows which is a signal that a bull market is in the works
Stock market goes through many cycles, bull cycle , bear cycle sideways mode.....
For the last 2 years US stock market was in a steep downtrend and made series of new yearly lows....
For the last 4 months we have seen stability and attempt @ breaking out which we have partially succeeded already.
Despite US Fed rhetoric and attempts to talk market down, Fed has not succeeded lately which shows market trend and strength.
When US stock market wants to go higher even Fed cannot stop it and will tone down its rhetoric.
SO Fed is all set to raise 25 basis in May and may say another hike is possible BUT stock market knows better and rally on the news.....
SO be ready for the upcoming clear breakout to series of new highs in many indices.
S&P 500 & Nasdaq are leading the pack with much more room to run.
Please construct your portfolio with good strategy and be diversified
Emphasis should be on strong stocks who are near breakout
Buy high RSI stocks
Good luck with your own comfort level and read on the market.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Sold SNAP @ 8.77 on lack of catalysts
Bought SCCO @ 78.00 on good earnings and copper price outlook
Stocktrader
Hi Saleem,
Last week: -1.31% (YTD: +24.01%)
Portfolio Leaders: SOXS ENPH BMBL
Portfolio Laggards: PINS SNAP IONQ
The portfolio pulled back last week due to major earnings disappointments from SNAP and PINS. After a nice run in the hedges, I liquidated the SOXS and SARK, thinking the market will be strong from here given the resilient economy and moderating prices - the $VIX tells us everything will be ok despite persistent investor fears. I need to do a better job sticking with strong RSI stocks, and buying after earnings might be a better strategy. This week will showcase more mid and small-cap companies, along with a Fed decision that is well telegraphed.
Holdings: SPOT PINS ENPH LYB IONQ SCCO BMBL KRUS ZENV, cash 0%
Stocktrader
Hi Stocktrader,
Last week Down 3.32%
YTD UP 30.52%
Saleem
Hi Stocktrader,
Good Luck with SCCO
Saleem
Post a Comment