US stock market has gone through a major personality change in 2024...
US stocks have become a " popularity contest "
Follow the most popular stocks on ticker & you should do more than OK
Here are latest RSI numbers on " best & greatest stocks mankind has known in last 9 trading days...
CRWD 78.29
NVDA 72.65
META 72.32
MSFT 69.26
SHOP 65.83
UBER 63.97
GOOG 63.63
AMD 62.13
AMZN 61.27
NFLX 60.55
As you can clearly see " popularity pays "
Overall Market based on S&P 500 has RSI of 65.03
Some of the above " extremely popular stocks are extremely vulnerable to a very fast pullback "
Making money is the name of the game, play this in safe zone, do not fight for last $$$$ leave it for someone else....
Rotation is an ongoing game .....
Out of favor becomes in favor in no time.....
YES first 9 days has been very good to select few.....but making / keeping money requires long term strategy ....as this game is minimum 320 trading days.....
SO lock gains in stretched stocks as they badly need digestive phase which can take weeks....
Most of the good news has been played out like cut in interest rates, inflation coming down.....
Go for undervalued with good business model....
Oil & Gold looks very good as nobody talks about it...a very reliable " contrary indicator "
Good luck with your own take on last 9 days & next 311+ trading days
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hi Stocktrader,
Last week Down 3.58%
YTD Down 4.20%
Saleem
Hi Stocktrader,
SOLD SNAP @ $15.56
Added 150% MU @ $84.76
Saleem
Hi Saleem,
Last week: -2.27% (YTD: -6.91%)
Portfolio Leaders: SPOT HIMS ULTA
Portfolio Laggards: PSNL TYGO ENPH AGCO
It was a pullback week again for the portfolio even as the major averages rose. Although a rest period was necessary in many of my stocks, it still seems to come as a surprise when it actually happens to this degree in the face of zero fundamental change. Where we stand now has presented a good reset ahead of earnings, and I hope I have selected the right companies and stories going forward.
Portfolio: SPOT SNAP ULTA AGCO HIMS LYFT MTRN ENPH PSNL ZENV(0.5x) TYGO(0.5x), cash 0%
Stocktrader
Hi Saleem,
Good luck with more MU - chips are on fire right now!
Stocktrader
Hi Stocktrader,
Sold ABX.TO @ $22.13
Added more MU @ $84.33
Saleem
Hi Saleem,
Great move into better performing stocks!
Stocktrader
Good Luck with all the new picks sir!
Hi Stocktrader & Stock Rookie,
Thanks for your supportive message, needed that today....
Saleem
Hi Saleem,
MU is ready for new high. Followed you on MU with a small size.
Michael
Hi Michael,
Good luck with MU entry$$$$
YES...series of new highs like all other front line stocks NVDA MSFT AMD.....
Saleem
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