US stock market has defied skeptics again & again.
It IS still early stage of a new bull market...
QQQ has made a new high.....
Once a new high is attained generally It IS followed by a series of new highs.
Let us examine where major stocks are sitting in terms of RSI :
SHOP 72.63
MSFT 68.59
AMZN 63.90
META 63.70
GOOG 57.60
NVDA 55.06
TSLA 53.75
CNQ 50.95
Based on the above RSI except for SHOP all others are looking like a good place to start a position. Black Friday was better than expected for SHOP which will propel it further in new 52 WK high territory BUT far far from all time high.
Q 4 is an extremely bullish time for stock market and may surprise even the most optimistic bull.
There has been too much emphasis on " sell the news " lately where good quarters were given a big YAWN......NOT SO FAST...I say....watch the same stocks take off NOW...
It is important to be with the winners in a bullish market....
Many good stocks which were hyped before have been taken to the cleaners, they should make a move now and perform better than leading stocks in terms of % gains.
Be ready for Cyber Monday in all its glory.....
Good luck with your own analysis & strategy!
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Stocktrader,
Added 60% PLTR @ $19.15 in pre market.
Saleem
Hi Stocktrader,
Last week Down 2.61%
YTD UP 103.65
Saleem
Hi Saleem,
Good luck with more PLTR!
Nicely done with continued hold on SHOP!
Stocktrader
Hi Saleem,
Last week: +4.28% (YTD: +79.55%)
Portfolio Leaders: PSNL TYGO HIMS ZENV
Portfolio Laggards: LYFT IONQ
It was a great Thanksgiving week with the smallest of the portfolio stocks driving the gains. The palpable sigh of relief as the prevailing wisdom is finally that the Fed's next move is lower means many stocks can see some flows after months of declines. Although it becomes more difficult to find fresh winners here, most stocks still have some upside while some diamonds in the rough are revealed for greater upside - it just feels nice that good news can finally be appropriately rewarded as the macro backdrop is more favorable. This week sees a number of data points on the economy and inflation, but I think it remains tame and the rally can grind on. Beyond this week we may see some small pauses as stocks catch their breath every so often but the year-end seasonal positivity remains intact.
Holdings: TNA(x2) PLAY HIMS LYFT AGCO CVNA PSNL IONQ TYGO(0.5x) ZENV(0.5x), cash 0%
Stocktrader
Hi Stocktrader,
I do not have SHOP in my portfolio, Sold it few $ back as reported here.
Great last week for you$$$$
Saleem
Hi Stocktrader,
Sold SNAP @ $12.72
Saleem
Hi Saleem,
Oh, I thought you had re-purchased, my mistake I should have checked.
Nice job with SNAP!
Stocktrader
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