DOW finally joined bullish rank as it jumped above 50 DMA....
US stock market is firing on all cylinder...
US economy is NOT slumping into deep recession as per latest US jobs report
Nasdaq has gone into major overdrive with a super strong RSI of 73.11
SOX is 2nd best performer with 69.18 RSI
S&P 500 is third with 66.00 RSI
DOW is the laggard with 58.47 RSI
RUSSELL 2000 is the only index which still lagging behind with 62.32 RSI and NOT sporting a golden cross.....
SO...what can go wrong with this bullish party...
IT IS a split market ....of have & have not
IF you are NOT in aggressive Nasdaq stocks, you are trailing badly...
This is NOT " an all boats are lifted type of market "
Extremely narrow uptrend.....
It is a market of follow new 52 week high list.....
Trend has established firmly....for months now...
This IS a market of extreme conviction & patience...
Every bull market is different.....
Either you are AHEAD of the game
OR
You are WITH the game....
OR
You are left way behind....
KNOW this and adjust quickly....
Please do RETHINK in a big way
By the way US stock market is still OFF from all time highs anywhere from 8% to 23%
check it out.....
Good luck with your own strategy.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Stocktrader,
Last week UP 13.48%
YTD UP 83.42%
Saleem
Hi Stocktrader,
Added 40% AI @ $31.20
Saleem
Hi Saleem,
Good luck with more AI - consolidating nicely!
Stocktrader
Hi Saleem,
Last week: +5.94% (YTD: +77.43%)
Portfolio Leaders: AI(upon sale) LYFT ZENV ENPH RCL
Portfolio Laggards: PINS
It was a nicely broad-based rally for all the indices and the portfolio followed. The market is climbing a wall of worry, all while many of our persistent problems get closer to resolution. Signs that inflation continues to ebb and the Fed may pause are all positive for the market and may lead to new highs. Earnings in most cases were "better than feared", and it puts us in a position to be near highs all while sentiment remains extremely negative. A "catchup" trade is likely soon, and there's really no reason to be underweighted in my opinion.
Holdings: RCL LYFT AI PINS ENPH SCCO SYM HIMS TOST IONQ ZENV, cash 0%
Stocktrader
Hi Stocktrader,
Added 50% MRVL @ $57.90
Saleem
Hi Stocktrader,
Bought BTCC.TO @ $4.98
Saleem
Hi Saleem,
Good luck with more MRVL and new BTCC!
Stocktrader
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