US stock market has been an amazing place to be a trader.....
You can make money the old fashioned way....BE IN THE MARKET
Nasdaq sporting the-best gain in 40% range for 6 months...simply amazing...80% annualized ....
On Friday, TAPE gave us a " mini jolt " by REVERSING....
Everybody is feeling uneasy after Friday's close.....reason....NOT USED TO REVERSAL only HIGHER close...
This week we are starting earnings report....
There are mighty 7....which will report in next 3 weeks....
TSLA reports on Wednesday...
TSLA has gone UP a whopping 116%+++ in last 6 months
TSLA sporting an RSI of 68.00....can easily go UP to 90 RSI
META reports week after with an RSI of 71.01....a star performer almost 140% gain in 6 months..
MICROSOFT also reports next week with RSI of 61.13...almost a bargain....gained a tiny 50% in last 6 months.....
GOOG has the lowest RSI @ 59.96....gained a measly 56% in last 6 months
AMZN with RSI @ 67.02 is starting to come alive...with a gain of 52% in last 6 months..
AAPL with RSI @ 62.60 is just trying to catch up....with a gain of 48%.....in 6 months
NVDA with RSI of 69.73 ...with an outstanding gain of 167% ..YES in 6 months alone...
SO....the above is a telltale of markets in 2023....
One CAN reposition or overweight any of the above or all of them for 2 years.....results to be known to only those who believed in these stocks.....
YES many stocks are lagging above numbers BUT overall a " bull posture " has been the right posture SO FAR.....
Good luck with your OWN homework and comfort level.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Stocktrader,
Last week UP 8.71%
YTD UP 120.32%
Saleem
Hi Saleem,
Last week: -0.28% (YTD: +100.33%)
Portfolio Leaders: TYGO ZENV HIMS BMEA
Portfolio Laggards: TZA SQQQ
In a week where the indices shot higher, the portfolio was nearly flat due to the short hedging in the portfolio. It definitely feels wrong to be anything but fully invested here as the market grinds higher seemingly daily, but a raft of concerns keep me protecting my 100% gains on the year. Trough inflation after comping the highest print of last year, a stubbornly tight labor market, an interest rate environment we haven't seen for two decades, an AI-driven rally in many stocks that might not deserve it, and overbought conditions for many stocks/indices are my yellow lights that keep me on the conservative side here. I don't know when or if anything of these issues will lead to a decline, but I'm willing to be patient and let things develop from here instead of going all-in like the first half of the year.
Holdings: SQQQ(x3) JETD TZA TYGO FNKO BMEA HIMS ZENV(0.2x), cash 0%
Stocktrader
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