US stock market is in a " full bull mode "
US stock market is ignoring hawkish Fed
US stock market is ignoring Hotter jobs report
US stock market is ignoring Washington funding debate
US stock market is ignoring hotter inflation reports
US stock market is ignoring lowest unemployment numbers
US stock market is ignoring liquidity crunch in regional banks
All of the above is only possible when US stock market is looking ahead and wants to go higher
US stock market has been in a higher low mode for last 4 months
US stock market has ignored all the bearish calls for new lows for almost a year
When US stock market starts to fight the Fed, It IS time to be very aggressive and go long
Friday close had the feel of " capitulation by HFT "
Whenever there is a broad based participation in a rally, may means direction has changed...
This IS the market of very reasonable RSI for even the strongest sector
Nasdaq is leading this Bull RUN with an RSI of only 58.01
2nd strongest is GOLD with RSI of 55.89....
3rd strong sector is S&P 500 with an RSI of 54.80
Message of the market IS....Technology is the place to be....stay with the strongest stocks as they have a long way to go higher and higher as they all have faltered badly for last 3 years...NOW they have high energy of UP UP & away....
Many ETF are beaten UP except Nasdaq 100 related as they are ready to make new highs on Monday
ETF may be ideal for those who are still not sure which stocks to pick
YES...It IS a stock pickers market which are already on the move...NO BARGAIN HUNTING PLEASE....
Please overweight strong stocks and IF you must play bargain hunting, please keep it small / underweight
Good luck with your own strategy & comfort level.
BLOG does NOT give buy or sell.
Saleem
11 comments:
Hi Saleem,
Last week: +12.34% (YTD: +39.31%)
Portfolio Leaders: WAL SYM IONQ SPOT
Portfolio Laggards: PINS ZENV LYB
A key pickup during a panic resulted in one of my most fruitful trades of all time, propelling the portfolio to great gains during a mixed week for the averages. WAL ended up 104% from purchase (and more today), and I plan to sell on open to collect profits. The market charts are looking fantastic for future gains as the edge is coming off inflation and the economy hasn't completed cracked from the Fed rate hikes. If we can indeed accomplish this "soft landing", S&P 5000 becomes attainable. As you suggested, sticking with strong stocks is definitely important here, so I'll be attempting to follow that strategy with my best efforts, although bargain hunting is often very tempting.
Holdings: WAL PINS SPOT ENPH IONQ SYM SCCO ZENV, cash 3%
Stocktrader
Hi Saleem,
Sold WAL @ 30.48
Stocktrader
Hi Stocktrader,
Last week UP 32.05%
YTD UP 62.57%
Best week of my entire investing career of 5 decades....
Saleem
Hi Saleem,
The overweight SHOP served you so well! Congratulations on an amazing week :)
Stocktrader
Hi Saleem,
Added to IONQ @ 6.07 on a strong chart
Stocktrader
Hi Stocktrader,
Nice gutsy move on WAL, well earned$$$$
Good luck with more IONQ
Saleem
Hi Saleem,
Added to SCCO @ 78.74 for cyclical exposure
Stocktrader
Hi Saleem,
Bought DDOG @ 75.60 to continued great execution in a difficult environment
Added to ENPH @ 159.16 with small remaining funds
Stocktrader
Hi Stocktrader,
Good luck with DDOG...a great stock
Good luck with more ENPH....
Saleem
Hi Stocktrader,
Added 125% SQ @ $58.45
Saleem
Hi Saleem,
Good move with Block! I have been tempted on occasion also...
Stocktrader
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