Indices closed down the week, month & year on a down close.
Here is the stat for 2023 after close :
DOW UP 13.70%
RUT UP 15.10%
S&P 500 UP 24.29%
Nasdaq UP 43.50%
GOLD UP 14.00%
OIL DOWN 10.00%
Here is my (24% exposure ) portfolio weighting :
MSFT 39.95%
NVDA 32.62%
ABX.TO 19.20%
RIOT 8.23%
Next post by 6 PM on Monday due to New year closure on Monday!!!
HAPPY NEW YEAR!
BLOG does NOT give buy or sell
Saleem
Indices closed mixed as Nasdaq & Russell 2000 took time out.
S&P 500 @ 4783.35, high 4793.30, low 4780.98
RSI @ 73.41
Internals were :
Down volume led by .81 to 1 in NYSE & 1.42 to 1 in Nasdaq
Declining stocks led by 1.01 to 1 in NYSE & 1.07 to 1 in Nasdaq
Net new highs were leading by 411 in NYSE & 196 in Nasdaq
VIX UP .32% @ 12.47
Oil @ $71.77
Gold @ $2083.50
Canadian $ @ .6792
Portfolio RIOT ABX.TO MSFT NVDA
One more trading day to book trading gains or losses, after that we carry our winners or baggage into 2024.....
BLOG does NOT give buy or sell.
Saleem
Indices closed near high of the day with perfect / strong Internals.
S&P 500 @ 4781.58, high 4785.39, low 4768.90
RSI @ 73.26
Internals were :
UP volume led by 1.31 to 1 in NYSE & 4.96 to 1 on Nasdaq
Advancing stocks led by 1.86 to 1 in NYSE & 1.46 to 1 in Nasdaq
Net new highs were leading by 579 in NYSE & 315 in Nasdaq
VIX Down 4.31% @ 12.43
Oil @ $74.11
Gold @ $2093.10
Canadian $ @ .6713
In my portfolio :
SOLD
SOFI @ $10.25
CNQ @ $66.60
GDXJ @ $39.60
LSPD @ $20.51
META @ $20.13 in Toronto
MUX @ $10.24 in Toronto
Portfolio RIOT ABX MSFT NVDA
Selling was prompted by 2 consideration, book profit & market is " too comfortable " time for me to get " very uncomfortable "...current exposure 24%...may go even lower.....
BLOG does NOT give buy or sell.
Saleem
Indices keep making new highs & Russell 2000 was the strongest.
S&P 500 @ 4774.75, high 4784.72, low 4758.45
RSI @ 72.70
Internals were :
UP volume led by 3.87 to 1 in NYSE & 5.27 to 1 in Nasdaq
Advancing stocks led by 3.31 to 1 in NYSE & 2.25 to 1 in Nasdaq
Net new highs were leading by 494 in NYSE & 298 in Nasdaq
VIX Down .31% @ 12.99
Oil @ $75.24
Gold @ $2074.10
Canadian $ @ .6800
In my portfolio Bought RIOT @ $17.00
Portfolio CNQ LSPD RIOT SOFI GDXJ ABX.TO META MSFT NVDA MUX
Internals were strong & new all time highs being made almost daily, message of the market has been loud & clear for almost 2 months.
BLOG does NOT give buy or sell.
Saleem
In next 4 trading days.....2023 will come to an end....
Last 4 days will see lot of tax loss selling in stocks which has lagged badly....
As they say, let the profit run....BUT for traders, It Is impossible to do so, as we want to book profit and try new ideas....
For investors through individual stocks or through ETF, it IS very easy to buy & hold for many years.
As part of my take on market, It IS very surprising how attractive RSI IS on many stocks.
Here are the RSI numbers for many stocks which I do not own yet :
XHB 76.90
IWM 73.18
XLF 69.71
ARKK 68.75
SHOP 64.02
ZM 61.24
EEM 58.22
TSLA 58.14
AI 48.64
ROKU 44.83
PLTR 43.29
Friday's trading will bring final statistics for all indices & stocks as to how they fared in 2023. It will be interesting to compare with final numbers for the BLOG visitors vs ETF / Indices.
It IS important to focus on 2024 with a clear vision of what may work better than 2023.
It IS important to do Fundamental & Technical analysis, then understand each stocks trading pattern.
Good luck in 2024!
BLOG does NOT give buy or sell.
Saleem
Indices closed mixed to cap many new record some new 52 week highs & some new all time highs.
Russell 2000 was outstanding this week & even today was the-best performing sector.
S&P 500 @ 4754.63, high 4772.94, low 4736.77
RSI @ 71.07
Internals were :
UP volume led by 2.0 to 1 in NYSE & 1.99 to 1 in Nasdaq
Advancing stocks led by 2.25 to 1 in NYSE & 1.91 in Nasdaq
Net new highs were leading by 350 in NYSE & 192 in Nasdaq
VIX down 4.54% @ 13.03
Oil @ $73.51
Gold @ $2069.10
Canadian $ @ .6736
Here is my portfolio weighting :
CNQ 40.80%
GDXJ 16.31%
MSFT 11.24%
NVDA 9.08%
LSPD 7.25%
META 6.57%
ABX 5.45%
SOFI 2.04%
MUX 1.26%
Next post by 6 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
Indices closed @ high of the day, Russell 2000 was the-best performing among big 4.
S&P 500 @ 4746.75, high 4748.71, low 4708.35
RSI @ 70.43
Internals were :
UP volume led by 8.44 to 1 in NYSE & 2.84 to 1 in Nasdaq
Advancing stocks led by 3.65 to 1 in NYSE & 2.79 to 1 in Nasdaq
Net new highs were leading by 165 in NYSE & 31 in Nasdaq
VIX Down .15% @ 13.65
Oil @ $73.89
Gold @ $2051.30
Canadian $ @ .6704
Portfolio CNQ LSPD SOFI GDXJ ABX.TO META MSFT NVDA MUX
Indices kept marching to its own drum defying skeptics.....
BLOG does NOT give buy or sell.
Saleem
Indices got hit with profit taking after 10 UP days for Nasdaq.
S&P 500 @ 4698.35, low 4697.82, high 4778.01
RSI @ 66.12
Internals were :
Down volume led by 9.52 to 1 in NYSE & 3.72 to 1 in Nasdaq
Declining stocks led by 2.64 to 1 in NYSE & 2.26 to 1 in Nasdaq
Net new highs were leading by 458 in NYSE & 243 in Nasdaq
VIX UP 9.10% @ 13.67
Oil @ $74.22
Gold @ $2047.70
Canadian $ @ .6672
Portfolio CNQ LSPD SOFI GDXJ ABX.TO META MSFT NVDA MUX
This IS a major bull market, ignore days like today, too much money being allocated to equities, always look @ big picture.
BLOG does NOT give buy or sell.
Saleem
Indices are on fire making new highs & getting very close to taking out "all time highs " DOW has already done so.
S&P 500 @ 4768.37, high 4768.69, low 4743.72
RSI @ 82.18
Internals were :
UP volume led by 1.04 to 1 in NYSE & .98 to 1 in Nasdaq
Advancing stocks led by 1.44 to 1 in NYSE & 1.21 to 1 in Nasdaq
Net new highs were leading by 161 in NYSE & 43 in Nasdaq
VIX down .24% @ 12.53
Oil @ $73.44
Gold @ $2052.90
Canadian $ @ .6654
Portfolio CNQ LSPD SOFI GDXJ ABX.TO META MSFT NVDA MUX
We are watching year end rush into equities with a side order of short covering.
BLOG does NOT give buy or sell.
Saleem
Indices closed UP near high of the day.
S&P 500 @ 4740.56, high 4749.52, low 4725.58
RSI @ 80.43
Internals were :
UP volume led by 1.14 to 1 in NYSE & .84 to 1 in Nasdaq
Advancing stocks led by 1.12 to 1 in NYSE & .87 to 1 in Nasdaq
Net new highs were leading by 313 in NYSE & 88 in Nasdaq
VIX UP 2.28% @ 12.56
Oil @ $72.42
Gold @ $2040.70
Canadian $ @ .6602
Portfolio CNQ LSPD SOFI GDXJ ABX.TO META MSFT NVDA MUX
Indices kept making new highs as US market looks ahead to a better 2024.
BLOG does NOT give buy or sell.
Saleem
As we are looking into 2024 we need to plan NOW...
In 2023 we have only 9 trading days left....
Performance is staring @ us....mostly good.....
Past is NO guarantee for future performance
What worked so well in 2023 with benefit of hindsight or Monday morning quarter backing, answers are so obvious....
BUT 2024 is a different ball game....yesterday's performance have little relevance
None of us knows what will work....
This where " deep analysis " and looking into future trends helps
Future trend is telling us the following obvious ones :
- Interest rates are coming down and Fed will cut in spring or earlier based on market forces
- Mighty inflation is coming down as economy is forcing everyone to sharpen their spending habits
- AI is into everything / everywhere....who will gain the-most or optimize the-most will keep winning.
- Housing / Homebuilders are direct beneficiaries of lower rates.
- Lower Interest rate will benefit consumer & economy @ large, more disposable income....
SO IF we narrow down to given trend which I have highlighted, many stocks will jump in your mind....BUT BUT NOT SO FAST....
Analyze PE for long term strategy & look @ RSI for short term trading....
A mix of both short & long term portfolio should work the-best
Some other themes have developed in the meantime, It IS oil prices which has crashed, It has nowhere but to go UP UP UP.....
SO...do your own thinking / strategy and create a portfolio which makes sense to your Investing / Trading style.
Good luck with closing 9 day's of 2023......
BLOG does NOT give buy or sell.
Saleem
Indices closed the week mixed with Nasdaq & DOW in green.
S&P 500 @ 4719.19, low 4704.69, high 4725.53
RSI @ 78.95
VIX Down 1.67% @ 12.28
Oil @ $71.79
Gold @ $2033.80
Canadian $ @ .6622
In my portfolio :
Bought CNQ in NYSE $62.88 & Toronto $85.22 Adding 40% more each time.
Here is my portfolio weighting :
CNQ 40.57%
GDXJ 16.40%
MSFT 11.56%
NVDA 9.45%
LSPD 6.71%
META 6.48%
ABX.TO 5.46%
SOFI 2.04%
MUX 1.33%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Indices closed UP again in new record territory.
S&P 500 @ 4719.55, high 4738.57, low 4694.34
RSI @ 79.05
Internals were :
UP volume led by 4.28 to 1 in NYSE & 3.17 to 1 in Nasdaq
Advancing stocks led by 4.48 to 1 in NYSE & 2.44 to 1 in Nasdaq
Net new highs were leading by 803 in NYSE & 386 in Nasdaq
VIX UP 2.38% @ 12.48
Oil @ $71.58
Gold @ $2044.90
Canadian $ @ .6590
In my portfolio Sold SHOP @ $103.00 in Toronto
Portfolio CNQ LSPD SOFI GDXJ ABX META MSFT NVDA MUX
Internals were the strongest & Russell 2000 was the mega star today again with 2.72% gain....
BLOG does NOT give buy or sell.
Saleem
Indices closed near high of the day on "dovish Fed "
S&P 500 @ 4707.09, high 4709.69, low 4643.23
RSI @ 78.22
Internals were :
UP volume led by 9.08 to 1 in NYSE & 4.27 to 1 in Nasdaq
Advancing stocks led by 7.00 to 1 in NYSE & 3.08 to 1 in Nasdaq
Net new highs were leading by 499 in NYSE & 170 in Nasdaq
VIX UP .99% @ 12.19
Oil @ $69.47
Gold @ $1997.30
Canadian $ @ .6426
Portfolio ABX.TO CNQ GDXJ LSPD MUX META MSFT NVDA SHOP SOFI
Indices had one of the strongest Internals in a long long time, sign of more bullish action, DOW @ new all time highs and small cap had the-best days in a long time.
BLOG does NOT give buy or sell.
Saleem
Indices closed UP despite hotter than expected inflation data.
S&P 500 @ 4643.70, high 4643.93, low 4608.09
RSI @ 73.22
Internals were :
Down volume led by 1.41 to 1 in NYSE & 1.08 to 1 in Nasdaq
Declining stocks led by .98 to 1 in NYSE & 1.28 to 1 in Nasdaq
Net new highs were leading by 258 in NYSE & 11 in Nasdaq
VIX Down 4.43% @ 12.07
Oil @ $68.61
Gold @ $1993.20
Canadian $ @ .6383
Portfolio ABX.TO VNQ GDXJ LSPD MUX META MSFT NVDA SHOP SOFI
Indices started red BUT closed @ absolutely high of the day, a classic definition of a strong bull market.
BLOG does NOT give buy or sell.
Saleem
Indices kept marching to its own drum, closing @ record high levels.
S&P 500 @ 4622.44, high 4623.71, low 4593.39
RSI @ 71.16
Internals were :
UP volume led by 1.31 to 1 in NYSE & .67 to 1 in Nasdaq
Advancing stocks led by 1.16 to 1 in NYSE & .85 to 1 in Nasdaq
Net new highs were leading by 228 in NYSE & 62 in Nasdaq
VIX UP 2.27% @ 12.63
Oil @ $71.32
Gold @ $1993.70
Canadian $ @ .6426
Portfolio ABX CNQ GDXJ LSPD MUX META MSFT NVDA SHOP SOFI
Indices opened lower but close @ high of the day, cannot give more bullish signal.
BLOG does NOT give buy or sell.
Saleem
US stock market has roughly 14 trading days left in 2023.
It IS good to look back and see where we made trading mistakes.
Also, It IS a great time to plan ahead for 2024 trading
US stock market is always unpredictable in best of days....
BUT last 6 months have been extremely choppy.
From July to October of 2023 it tested nerves, determination & ability to think straight, more reactive than pro active ....
October to December..9 weeks nerves were soothed & calmed with most stock recovered.
SO the big question REMAINS what will work in 2024....
Crypto is moving
Gold is ready to move
Oil may make huge move
Housing may be in bull mode again..
AI remains top idea for 2024 & beyond, leaders will remain major beneficiary, small player may fade into background.
IF one focus on these areas alone....2024 may not be so challenging ....
It IS a good idea to do a thorough homework in analyzing your current portfolio with a realistic & critical approach...
I have already made my moves for 2024 last week....
Please pay attention to forward Sales & PE...IF its NOT moving in positive mode make a quick decision.
Good luck with your own analysis & looking forward to 2024...
BLOG does NOT give buy or sell.
Saleem
Indices closed near high of the day despite hotter than jobs report & higher treasury yields. In bull market " all is well by close "
S&P 500 @ 4604.37, high 4609.23, low 4574.06
RSI @ 69.29
Internals were :
UP volume led by 2.07 to 1 in NYSE & .92 to 1 in Nasdaq
Advancing stocks led by 1.35 to 1 in NYSE & 1.25 to 1 in Nasdaq
Net new highs were leading by 209 in NYSE & 38 in Nasdaq
VIX Down 5.44% @ 12.35
Oil @ $71.23
Gold @ $2014.50
Canadian $ @ .6398
Here is my portfolio weighting :
CNQ 22.52%
GDXJ 18.41%
MSFT 13.51%
NVDA 10.63%
SHOP 10.48%
META 7.44%
LSPD 7.38%
ABX 6.07%
SOFI 2.05%
MUX 1.51%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Indices closed near high of the day with most sector participating in this near record high close.
S&P 500 @ 4585.59, high 4590.92, low 4565.22
RSI @ 67.25
Internals were :
UP volume led by 1.96 to 1 in NYSE & 1.37 to 1 in Nasdaq
Advancing stocks led by 2.19 to 1 in NYSE & 1.58 to 1 in Nasdaq
Net new highs were leading by 74 in NYSE & lows by 23 in Nasdaq
VIX UP .69% @ 13.06
Oil @ $69.34
Gold @ $2046.90
Canadian $ @ .6400
In my portfolio
Sold AI $27.00
Bought ABX @ $23.40 in Toronto
Added 100% MSFT @ $27.30 in Toronto
Bought LSPD @ $16.48
Added 100% GDXJ @ $37.21
Added 100% CNQ @ $61.99
Bought MUX @ $ 9.96 in Toronto
Portfolio ABX CNQ LSPD META MUX MSFT NVDA SHOP SOFI GDXJ
Todays TAPE was very convincing and ready to make series of new highs.
BLOG does NOT give buy or sell.
Saleem
Indices reverses lower by close. Internals were mixed.
S&P 500 @ 4549.34, low 4546.50, high 4590.74
RSI @ 62.81
Internals were :
UP volume led by .86 to 1 in NYSE & 1.34 to 1 in Nasdaq
Advancing stocks led by 1.01 to 1 in NYSE & .92 to 1 in Nasdaq
Net new highs were leading by 179 in NYSE & 31 in Nasdaq
VIX UP .93% @ 12.97
Oil @ $69.38
Gold @ $2045.50
Canadian $ @ .6415
In my portfolio :
Sold PLTR @ $17.35
Added 20% AI @ $29.50
Sold LSPD @ $22.76 in Toronto
Bought LSPD @$22.62 in Toronto
Bought SHOP @$97.10 in Toronto
Portfolio AI CNQ META MSFT NVDA SOFI GDXJ LSPD SHOP
Market is very jittery and unpredictable to news or events these days. I may reposition my portfolio for next year based on what I feel is happening. AI earnings report was a mixed bag beat on EPS by 5 cents but missed revenue by $1.1 million, guiding lower than consensus.
BLOG does NOT give buy or sell.
Saleem
Indices closed mixed with Nasdaq in green.
S&P 500 @ 4567.18, low 4551.68, high 4578.56
RSI @ 66.96
Internals were :
Down volume led by 3.79 to 1 in NYSE & 1.95 to 1 in Nasdaq
Declining stocks led by 2.00 to 1 in NYSE & 1.92 to 1 in Nasdaq
Net new highs were leading by 108 in NYSE & 19 in Nasdaq
VIX down 1.76% @ 12.85
Oil @ $72.32
Gold @ $2038.30
Canadian $ @ .6417
Portfolio AI CNQ META MSFT NVDA PLTR SOFI GDXJ LSPD
Internals were really weak on a mixed day. Treasury yield eased up again.
BLOG does NOT give buy or sell.
Saleem
Yield rose and big tech took a tumble. Russell 2000 was super strong again with a gain of 1%...
S&P 500 @ 4569.78, low 4546.72, high 4572.37
RSI @ 67.56
Internals were :
UP volume led by 1.03 to 1 in NYSE & 1.94 to 1 in Nasdaq
Advancing stocks led by .90 to 1 in NYSE & 1.20 to 1 in Nasdaq
New highs were leading by 210 in NYSE & 87 in Nasdaq
VIX UP 3.56% @ 13.08
Oil @ $73.04
Gold @ $2028
Canadian $ @ .6457
In my portfolio :
Sold 50% NVDA in Toronto @ $43.15
Added 40% PLTR @ $18.52
Portfolio AI CNQ META MSFT NVDA PLTR SOFI GDXJ LSPD
Internals were mostly positive which bodes well for near term positive action, these pullbacks are very healthy every so often.
BLOG does NOT give buy or sell.
Saleem
US stock market has found bull thanks to crashing treasury yield.....
Tumbling treasury yield means borrowing cost of Corporation, Consumers & Government all coming down....
Home buyers, line of credit, all will benefit with lower Interest rates...
BUT BUT Fed is behind the curve as usual.....
Market has given its verdict where interest rates are headed in 2024.....LOWER is the word....
This has given big boost to small cap which has been crucified in this go go top 7 Nasdaq stocks....
NOW Nasdaq 7 are taking a well deserved nap for 2 days....that Nap is over....
Nasdaq big 7 should come back with a roar NOW
Wall Street is an interesting place, either you are ahead of the crowd or way behind IF there is no conviction or patience
Chasing sectors / stocks usually gives sub par results....
IF not ahead of the pack @ least be with the pack....
YES...small cap will do the most in current scenario as they have a long way to making new highs....
SO
A mix of small cap stocks & Nasdaq 7 is an ideal combo in an aggressive portfolio....
Oil stocks are ready to join the party as growth returns to the world.....
GDP has seen the lows worldwide as stock prices are running ahead of fundamentals as they see good growth ahead 6 months out.....
SO...look @ your portfolio, adjust weighting or add new ones or switch.....all should be done quickly to catch the wave....
Good luck with your own take on world economy, Interest rate trend and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Indices rocketed UP as treasury yield tumbled to 4.20% area. Russell 2000 had one of the best bullish action.
S&P 500 @ 4594.63, high 4599.39, low 4554.71
RSI @ 73.44
Internals were :
UP volume led by 6.58 to 1 in NYSE & 3.72 to 1 in Nasdaq
Advancing stocks led by 5.93 to 1 in NYSE & 3.32 to 1 in Nasdaq
Net new highs were leading by 305 in NYSE & 62 in Nasdaq
VIX Down 2.24% @ 12.63
Oil @ $74.07
Gold @ $2089.70
Canadian $ @ .6501
Here is my portfolio weighting :
AI 29.52%
NVDA 18.62%
PLTR 14.85%
CNQ 10.81%
GDXJ 8.79%
META 6.42%
MSFT 5.97%
LSPD 3.27%
SOFI 1.75%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem