US stock market is close to support, another dip then we are due for an oversold bounce....
US stock market profile has changed since 3rd week of July.....
There is no real catalyst left.....
AI hype has not only calmed down BUT has caused tremendous losses to believers...
NVDA AI PLTR....all have lost major support...
Market may mark time to heal itself from hyper bullish mode to more normal level
YES normal gets changed after every major rally or major selling....
It IS difficult to chart a course of action when we are still trying to find support in major index..
Investment climate is murky @ best
High savings rate is another competition
Many traders / investors are caught in this downdraft
It IS better to wait till Q3 results are due....which means 60 days of patience and NO FIX for trading juices...
I am showing my conviction with only 1 stock in a big way....NO It Is NOT guts...pure & simple " due diligence "
You all have your own trading / investing style, either hone it further or live with your well researched and high comfort stocks....
When stock market is IN doldrum which it IS these days, It is not fun...
Good luck with your own analysis.....
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Last week: -5.55% (YTD: +86.67%)
Portfolio Leaders: TZA SQQQ
Portfolio Laggards: TYGO HIMS PLAY
It was a tough week for the portfolio as TYGO dropped 43% after a disappointing outlook. These things happen and it's why it is so important to have diversification. As the market has declined for some weeks now, I unwound some of my hedges/shorts to pick up stocks on discount. I expect to do more of that in coming days/weeks. As the market struggles to find the next catalyst for an upward move, I do expect choppy action here, but with winners continuing to win into year-end.
Holdings: TZA(x2) JETD(x2) BMEA AGCO PLAY PINS TYGO HIMS ZENV(x0.2), cash 0%
Stocktrader
Hi Stocktrader,
Last week Down 10.65%
YTD UP 101.83%
Saleem
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