US stock market is all set to resume making series of new highs.....
Earnings report this week will spark major rally this week
All major indices are trading below 70 RSI...thus room to run higher & higher
ARKK trading @ 61.31 RSI seems to be a bargain.....
SOX @ 62.17 RSI is second cheapest in my universe...
Russell 2000 is third cheapest with 63.42 RSI...
Many traders got taken out with Thursday's reversal....BUT Friday was the exact opposite UP UP & away...
It IS important to have conviction in what you buy and please please show patience....
Market is totally unpredictable on any day and be ready all the time, means EXPECT VOLATILITY
Without volatility you do not get great entry point on strong stocks....
Idea IS to optimize gains in any given day, week, month and year.....DO WHATEVER IT TAKES to accelerate your return....
Some of the IDEAS I have implemented is to tinker with my exposure when I feel MAX gains have happened.....
KEEP AN EYE on fast moving stocks and sometimes trade out of existing position to enter an opportunistic trade.....IF you have been following my trades, you will get a clear picture of this strategy...This has worked with great success when nobody is talking about that particular stock on that day....
Keep an eye on business trend of your stocks...sometimes IT IS IMPROVING..so increase your exposure in that particular stock....my trade again and again proves that strategy....with great success,,. YES there are setbacks once in a while...which IS evaluated for either staying or quick exit....
Hopefully above ideas can be incorporated in some of your stock picks.....
Good luck with your strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Stocktrader,
Last week UP 10.99%
YTD UP 127.57%
Saleem
Hi Stocktrader,
Bought NVDA in Toronto @ $44.54
Saleem
Hi Saleem,
Last week: -0.08% (YTD: +95.51%)
Portfolio Leaders: JETD HIMS TYGO
Portfolio Laggards: SQQQ TZA
In another up-week for the markets, the portfolio was nearly flat as winner and losers balanced. It is frustrating to see the market continue the grind higher while I am very offsides positioned, but I have often been 3-6 weeks early on a thesis, so I'm sticking with it for now. We'll see earnings from more of the small/midcap companies this week, and I'm interested to see how their cost/revenue mix is evolving.
Portfolio: SQQQ(x3) JETD(x2) TZA(x2) BMEA TYGO HIMS ZENV(x0.2), cash 0%
Stocktrader
Hi Saleem,
Good luck with NVDA!
My TYGO is crashing today on low volume, so I'm scavenging for any ideas.
Stocktrader
Hi Stocktrader,
Sorry to hear about TYGO...
My best idea is to follow the winner....there are hundreds of them in every sector ....
Good luck with your pick.....
Saleem
Hi Saleem,
Oh, I meant for reasons why it might be falling. I still believe in the story unless something drastic has happened. I think it's just a low volume chart break -- we'll see how it ends the day.
Stocktrader
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