Indices closed UP .12% to .90%...NICE !!!

 Indices closed near high of the day & Nasdaq finally made it into all time record close.

S&P 500 @ 5096.27, high 5104.99, low5061.89

RSI @ 66.94

Internals were :

UP volume led by 2.37 to 1 in NYSE & 1.57 to 1 in Nasdaq

Advancing stocks led by 2.70 to 1 in NYSE & 1.57 to 1 in Nasdaq

Net new highs were leading by 457 in NYSE & 185 in Nasdaq

VIX Down 3.18% @ 13.40

Oil @ $78.26

Gold @ $2054.70

Canadian $ @ .6428

In my portfolio...added SOUN @ $7.33

Portfolio AMD GOOG INTC MSFT META NVDA SOUN

AMD was the superstar of the day by closing @ new all time high, SOX did well. PCE number was  as expected and taken as " not too hot not too cold " and market took off.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .06% to .77%....

 Indices closed down as inflation became a concern for Thursday 830 AM report.

S&P 500 @ 5069.76, low 5058.35, high 5077.37

RSI @ 64.45

Internals were :

Down volume led by 1.25 to 1 in NYSE & 1.40 to 1 in Nasdaq

Declining stocks led by 1.20 to 1 in NYSE & 1.72 to 1 in Nasdaq

Net new highs were leading by 266 in NYSE & 78 in Nasdaq

VIX UP 3.05% @ 13.84

Oil @ $78.54

Gold @ $2042.70

Canadian $ @ .6424

Portfolio AMD GOOG INTC MSFT META NVDA SOUN

Whenever we fear any report in realty it becomes a non event & rally resumes in a bull market.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .17% to 1.34%....NICE!!!

 Indices closed near high of the day, Russell 2000 was the strongest among gainers.

S&P 500 @ 5078.18, high 5080.69, low 5057.29

RSI @ 65.91

Internals were :

UP volume led by 2.29 to 1 in NYSE & 2.76 to 1 in Nasdaq

Advancing stocks led by 1.45 to 1 in NYSE & 1.60 to 1 in Nasdaq

Net new highs were leading by 304 in NYSE & 187 in Nasdaq

VIX Down 2.26% @ 13.43

Oil @ $78.87

Gold @ $2044.10

Canadian $ @ .6472

In my portfolio :

Sold BTCC.TO @ $10.81

Bought a tiny position in SOUN @$7.51

Portfolio AMD GOOG INTC MSFT META NVDA SOUN

TAPE showed its bullish tone by closing @ high with positive internals.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .13% to .38%....

 Indices closed @ low of the day.

S&P 500 @ 5069.53, low 5068.91, high 5097.66

RSI @ 65.16

Internals were :

Down volume led by 1.54 to 1 in NYSE & .59 to 1 in Nasdaq

Declining stocks led by 1.55 to 1 in NYSE & .83 to 1 in Nasdaq

Net new highs were leading by 306 in NYSE & 132 in Nasdaq

VIX Down 0.07% @ 13.74

Oil @ $77.58

Gold @ $2038.90

Canadian $ @ .6481

Portfolio AMD GOOG INTC MSFT META NVDA BTCC.TO

Market is waiting for Thursday's inflation data of PCE thus directionless plus negative slant.

BLOG does NOT give buy or sell.

Saleem

US stock market AI stocks in worst bubble......

US stock market is being dubbed in worst bubble since dot com days....

Above headline or any comparison shows lack of knowledge or playing with facts / disinformation

Credibility is lacking in every negative talk about AI or NVDA

Financial journalism is full of people who talk their own " vested strategy " where facts have no role.

Most pundits / many traders never spotted NVDA'S first mover advantage early or now...thus their cynicism is very obvious...

AI is here ......

AI will impact everyone of us in more ways than we can even imagine

AI will last as long as Industrialization exist or productivity is a focus by individual, companies & society @ large

AI is a much bigger phenomenon than most pundit will ever understand

AI.....we are just getting started to get off ground level.....

We are in year 2 of 100 years cycle......which will keep evolving in many forms...

AI IS & WILL disrupt every aspect of our lives in more ways that can be imagined by us MORTALS....

NOW.....let us examine the " bubble & DOT COM valuation as many highly paid geniuses are hammering on us on an hourly basis in all form of media....

Here  is forward PE of few stocks to make my point of valuation :

MRVL        33.62

AMD         32.39

NVDA       26.94

AVGO      23.17

INTC       19.19

TSM        18.40

Median forward PE is 25.62 as it stands today....

Most companies " beat & raise going forward which does NOT reflect current forward PE "

IF you care to look S&P 500 forward PE IS......compare that with above listed fastest growing companies ...

Dot com days .....or bubble days...had either " zero earnings " or PE in 150+++ range.....truth is very important as " disinformation is being spewed every second in financial press / TV...

Good luck with your own homework, conviction and resolve to catch the next wave of growth.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed but made many closing all time highs, Nasdaq lost .28% after massive gain yesterday.

S&P 500 @ 5088.80, high 5111.06, low 5081.46

RSI @ 68.29

Internals were :

UP volume led by 1.58 to 1 in NYSE & .97 to 1 in Nasdaq

Advancing stocks led by 1.86 to 1 in NYSE & 1.21 to 1 in Nasdaq

Net new highs were leading by 569 in NYSE & 128 in Nasdaq

VIX Down 5.43% @ 13.75

Oil @ $77.01

Gold @ $2049.40

Canadian $ @ .6494

Here is my portfolio weighting :

AMD       29.18%

MSFT     17.06%

META     16.65%

INTC      16.11%

GOOG   12.53%

NVDA     7.69%

BTCC.TO .78%

Next post by 6 PM on Sunday!

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.18% to 2.96%...NICE !!!

 Indices closed near high of the day & in record high territory, only Nasdaq missing all time highest close.

S&P 500 @ 5087.03, high 5094.39, low 5038.83

RSI @ 68.16

Internals were :

UP volume led by 1.45 to 1 in NYSE & 1.33 to 1 in Nasdaq

Advancing stocks led by 1.88 to 1 in NYSE & 1.18 to 1 in Nasdaq

Net new highs were leading by 518 in NYSE & 132 in Nasdaq

VIX Down 5.22% @ 14.54

Oil @ $78.61

Gold @ $2030.70

Canadian $ @ .6499

Portfolio AMD GOOG INTC MSFT META NVDA BTCC.TO

Day like today is very rare when we have almost 3% move in Nasdaq, thus being in the market is a good strategy with adjusted exposure depending on RSI. Speaking of RSI we are still @ 68.16 which means, those who are talking negative about today's TAPE, are ensuring that we are going higher.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed but @ best level of the day, only Nasdaq & Russell 2000 closed in red.

S&P 500 @ 4981.80, high 4983.21, low 4946.00

RSI @ 58.78

Internals were :

Down volume led by .80 to 1 in NYSE & 1.55 to 1 in Nasdaq

Declining stocks led by 1.01 to 1 in NYSE & 1.78 to 1 in Nasdaq

Net new highs were leading by 105 in NYSE & lows by 55 in Nasdaq

VIX Down .52% @ 15.34

Oil @ $77.91

Gold @ $2034.30

Canadian $ @ .6490

Portfolio AMD GOOG INTC MSFT META NVDA BTCC.TO

After hour news from NVDA was even better than expected as they pointed out " tipping point for AI by corporation & countries worldwide "...all the shorts, noise & organized negativity will die down as another lesson in what NOT to do.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .17% to 1.41%.....

 Indices closed down on jitters about NVDA earnings report.

S&P 500 @ 4975.51, low 4955.02, high 4993.71

RSI @ 58.10

Internals were :

Down volume led by 1.88 to 1 in NYSE & 1.36 to 1 in Nasdaq

Declining stocks led by 1.43 to 1 in NYSE & 1.87 to 1 in Nasdaq

Net new highs were leading by 186 in NYSE & 14 in Nasdaq

VIX UP 4.83% @ 15.42

Oil @ $78.18

Gold @ $2039.80

Canadian $ @ .6471

Portfolio AMD GOOG INTC MSFT META NVDA BTCC.TO

With NVDA RSI @ 63.33, I do NOT believe that this stock or TAPE is very vulnerable, S&P 500 RSI @ 58.10, we are more close to support than a huge beating. Market sentiment is extremely negative which IS a " contrary indicator " and IS already factored IN......

BLOG does NOT give buy or sell.

Saleem

US stock market & Nvidia earning report.....

 US stock market has been dealing with higher than expected inflation which resulted in treasury yield to jump.

US Fed funds first rate reduction bet has been delayed to minimum June / July time frame which IS also causing jitteriness in US stock market.

NOW latest jitter is all about NVDA upcoming earnings on Wednesday after close....

Some are predicting that no matter what NVDA reports that will trigger a massive downturn in all AI stocks in particular & stock market in general...

It seems that many traders are betting on NVDA pullback & market top.....

Can It happen.....

IF enough money is put behind any strategy then only It can happen, Wall Street is known for huge bets against certain events....like NVDA earnings.....

YES short term direction can be managed by High Frequency traders in cooperation with Market Makers...

YES factor such possibility in your next week strategy...

Too much money is being put behind NVDA earnings....

BUT...these manipulations may NOT work....or @ best may last couple of days...

As far as NVDA upcoming report on Wednesday...It should handily beat any expectations including so called " whisper number "

Guidance should be above " whisper number " also...

All the real number may kill any strategy to manipulate NVDA stock price...

After all is said & done NVDA has a commanding / First mover lead in AI chips....

AMD will take several quarters before getting big in AI chips penetration.....

YES AMD also is a good bet going forward...

Strong bull market do NOT reverse on a dime...

It IS a very slow process and takes several years before It ALL UNWINDS...

AI revolution has just started which means serious money to be made for a long long time....

YES NVDA earning will come & go and AI revolution should continue till we stop talking about IT and becomes part of everyone's life...

Bottom line IS... have your own strategy knowing AI is a real deal for decades....

Good luck with your own strategy & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .37% to 1.29%.....

 Indices closed near low of the day. Internals were mostly negative.

S&P 500 @ 5005.57, low 4999.52, high 5038.70

RSI @ 62.73

Internals were :

Down volume led by 1.68 to 1 in NYSE & 1.49 to 1 in Nasdaq

Declining stocks led by 1.72 to 1 in NYSE & 1.59 to 1 in Nasdaq

Net new highs were leading by 385 in NYSE & 155 in Nasdaq

VIX UP 1.64% @ 14.24

Oil @ $78.46

Gold @ $2024.10

Canadian $ @ .6512

Here is my portfolio weighting :

AMD        29.26%

MSFT      17.11%

INTC       16.60%

META     16.57%

GOOG    12.45%

NVDA      7.21%

BTCC       .80%

Next post by 6 PM on Monday!!

Enjoy long weekend....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .30% to 2.45%...NICE !!!

 Indices closed UP near high of the day, bull run continues & expanding to RUSSELL 2000 which by far was the best place to be.

S&P 500 @ 5029.73, high 5032.72, low 4999.44

RSI @ 66.69

Internals were :

UP volume led by 4.84 to 1 in NYSE & 2.48 to 1 in Nasdaq

Advancing stocks led by 5.22 to 1 in NYSE & 2.43 to 1 in Nasdaq

Net new highs were leading by 427 in NYSE & 182 in Nasdaq

VIX Down 2.57% @ 14.01

Oil @ $78.03

Gold @ $2014.90

Canadian $ @ .6501

Portfolio AMD GOOG INTC MSFT META NVDA BTCC.TO

TAPE is expanding to new sectors & internals remains very strong, not much to rethink or rejig.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .40% to 2.44%...NICE !!!

 Indices bounced back hard to close @ high of the day.

S&P 500 @ 5000.62, high 5002.52, low 4956.45

RSI @ 64.16

Internals were :

UP volume led by 3.94 to 1 in NYSE & 4.27 to 1 in Nasdaq

Advancing stocks led by 3.95 to 1 in NYSE & 3.51 to 1 in Nasdaq

Net new highs were leading by 102 in NYSE & 33 in Nasdaq

VIX Down 9.27% @ 14.38

Oil @ $76.64

Gold @ $2004.30

Canadian $ @ .6414

In my portfolio...bought NVDA in Toronto @ $69.50

Portfolio AMD GOOG INTC MSFT META NVDA BTCC.TO

After 1 day desired sharp pullback, Internals were strong & positive which is a sign of a " strong bull market "

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.35% to 3.96%....

 Hot inflation data shocked everyone and down we went in a fast paced selling.

S&P 500 @ 4953.17, low 4920.31, high 4971.30

RSI @ 59.49

Internals were :

Down volume led by 10.40 to 1 in NYSE & 4.27 to 1 in Nasdaq

Declining stocks led by 9.96 to 1 in NYSE & 4.88 to 1 in Nasdaq

Net new lows were leading by 14 in NYSE & 78 in Nasdaq

VIX UP 13.78% @ 15.85

Oil @ $77.87

Gold @ $2007.80

Canadian $ @ .6431

Portfolio AMD META GOOG INTC MSFT BTCC.TO

A day like today happens when we are deeply overbought, always have a buy & sell plan ready ahead of extreme buying or selling.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed after hitting new highs in key Indices. Russell 2000 was the best performer today.

S&P 500 @ 5021.84, low 5016.83, high 5048.39

RSI @ 72.10

Internals were :

UP volume led by 4.25 to 1 in NYSE & 2.48 to 1 in Nasdaq

Advancing stocks led by 3.44 to 1 in NYSE & 1.95 to 1 in Nasdaq

Net new highs were leading by 546 in NYSE & 291 in Nasdaq

VIX UP 7.73% @ 13.93

Oil @ $76.92

Gold @ $2033.00

Canadian $ @ .6557

In my portfolio bought INTC in Toronto @ $26.35

Portfolio AMD GOOG INTC MSFT META BTCC.TO

Despite mixed close & VIX higher, Internals were pretty strong.

BLOG does NOT give buy or sell.

Saleem

US stock market in AI superbowl mode....

 US stock market has discovered a new phenomenon know as " AI "

Generative AI is the new & biggest thing which has taken over wall street since " Industrial Revolution "

In US stock market, any new innovation takes 5 years of intense race to get close to the finish line...

This AI resurgence only started 2 quarters ago, so simple math tells me we have 18 more quarters to go before we see most variants of " Generative AI "

Here is the latest RSI read of some key players / beneficiaries of this space :

SMCI       93.16

NVDA     82.42

PLTR     79.24

META    76.06

AMZN   72.43

MSFT   71.34

SHOP  69.21

NFLX   68.49

GOOG 60.15

AMD   59.06

INTC  41.79

Above is a very interesting stat as of Friday's close. NOT all RSI numbers are telling strong vs weak numbers, they are highlighting where $ allocation was as of Friday's close only. Factually some of the big winners are digesting their huge gains, thus lower RSI.

AI is here to stay like many version of PC, AI is staying with us from here to infinity unless something new & improved replaces AI....

In AI there are early adopters / beneficiaries like NVDA MSFT....BUT new entrants on a daily basis are jumping on this bandwagon.....

In any investment AI stocks are no different, have a " basket of AI stocks " 

YES ...there is lot to keep up with AI information flow....BUT rewards are given to those who are keeping UP with news & application flow.....

Good luck with AI Superbowl, game has just started....

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed but closed near high of the day. Russell 2000 was the strongest followed by almighty Nasdaq which had another high of the year.

S&P 500 @ 5026.61, high 5030.06, low 5000.34

RSI @ 73.10

Internals were :

UP volume led by 1.26 to 1 in NYSE & 3.20 to 1 in Nasdaq

Advancing stocks led by 2.02 to 1 in NYSE & 2.24 to 1 in Nasdaq

Net new highs were leading by 392 in NYSE & 211 in Nasdaq

VIX UP 1.09% @ 12.93

Oil @ $76.84

Gold @ $2038.70

Canadian $ @ .6516

In my portfolio...SOLD SHOP in AH @ $90.98

Here is my portfolio weighting with 55% exposure :

AMD        32.99%

MSFT      21.66%

META      21.40%

GOOG    16.73%

BTCC.TO7.22%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem      

Indices closed UP .06% to 1.50%...NICE !!!

 Indices closed UP, S&P went to 5000 and decided 1 more day to close above.

S&P 500 @ 4997.91, high 5000.40, low 4987.09

RSI @ 70.84

Internals were :

UP volume led by 1.35 to 1 in NYSE & 2.50 to 1 in Nasdaq

Advancing stocks led by 1.43 to 1 in NYSE & 1.62 to 1 in Nasdaq

Net new highs were leading by 289 in NYSE & 125 in Nasdaq

VIX Down .31% @ 12.79

Oil @ $75.46

Gold @ $2047.90

Canadian $ @ .6532

In my portfolio :

Sold LSPD @ $20.02 in Toronto

Added 300% AMD @ $32.62 in Toronto

Portfolio AMD GOOG MSFT SHOP META BTCC.TO

Please watch internals of this market which IS more than positive, IF it acts like a " bull market " It must be a bull.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .40% to .95%...NICE !!!!

 Indices closed UP as technology was strong again.

S&P 500 @ 4995.06, high 4999.89, low 4969.05

RSI @ 70.61

Internals were :

UP volume led by 1.01 to 1 in NYSE & 1.04 to 1 in Nasdaq

Advancing stocks led by 1.19 to 1 in NYSE & .77 to 1 in Nasdaq

Net new highs were leading by 329 in NYSE & 77 in Nasdaq

VIX Down 1.76% @ 12.83

Oil @ $73.86

Gold @ $2051.70

Canadian $ @ .6525

In my portfolio Bought AMD @ $32.70 in Toronto

Portfolio AMD GOOG LSDPD META MSFT SHOP BTCC.TO

New all time highs in S&P 500 DOW & Nasdaq 100 all because of enthusiasm for AI...

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .07% to .85%...NICE !!!

 Indices closed UP on its own momentum.

S&P 500 @ 4954.23, high 4957.77, low 4934.88

RSI @ 67.21

Internals were :

UP volume led by 2.90 to 1 in NYSE & 2.29 to 1 in Nasdaq

Advancing stocks led by 2.63 to 1 in NYSE & 1.84 to 1 in Nasdaq

Net new highs were leading by 126 in NYSE & lows by 12 in Nasdaq

VIX Down 4.46% @ 13.06

Oil @ $73.31

Gold @ $2051.40

Canadian $ @ .6496

In my portfolio :

Sold CNQ @ $81.30 on Toronto

Bought META @ $25.62 in Toronto

Portfolio GOOG, LSPD MSFT SHOP BTCC.TO META

Internals were positive & RUSSELL 2000 was the-best performer.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .20% to 1.30%....

 Indices closed down on higher yield.

S&P 500 @ 4942.81, low 4918.09, high 4957.19

RSI @ 66.20

Internals were :

Down volume led by 5.48 to 1 in NYSE & 1.85 to 1 In Nasdaq

Declining stocks led by 4.16 to 1 in NYSE & 2.73 to 1 in Nasdaq

Net new highs were leading by 18 in NYSE & lows 122 in Nasdaq

VIX down 1.30% @ 13.67

Oil @ $72.28

Gold @ $2042.90

Canadian $ @ .6461

In my portfolio :

Sold 70% CNQ @ $80.50 in Toronto

Bought MSFT @ $30.08 in Toronto

Bought GOOG @ $24.59 in Toronto

Here is my portfolio weighting :

SHOP          44.87%

LSPD          19.36%

MSFT          12.77%

GOOG          9.88%

CNQ             9.45%

BTCC.TO    3.67%

BLOG does NOT give buy or sell.

Saleem

US stock market just warming UP....

 US stock market is seeing lot of volatility lately, most of it is on the bullish mode.....

Many may be feeling that they have missed the right stocks or the right trade....

Any bull market is many years long......involving many stock splits....

This TAPE was in horrible downtrend until end of October of 2023...only 90 days ago.....

Nasdaq has not made new all time highs YET.....almost 300 points to go...15,901.47...to be exact....

IF we look @ YTD stat on key Indices & Stocks...here is the latest approximate numbers :

DOW         UP     3.08%....

S&P 500    UP    4.4%

Nasdaq      UP    6.32%

GOOG      UP     4.35%

MSFT       UP   11.08%

AMZN      UP   13.16%

SHOP        UP  13.70%

NFLX        UP  21.5%

META        UP 33.80%

NVDA       UP 35.10%

IF we look @ above YTD numbers, we will notice that this bull has just started and we can design any strategy to benefit from above example.

We need to look @ how we will end 2024 NOT just January performance...we had only 2 days of February so far....

Bottom line IS, stock market can play a sense of deprivation IF we look @ 1 months action only and get totally mesmerized by META & NVDA

BUT within above table you will see huge bargain going forward.....

As the saying goes " not all stocks are created equal "

2024 will end with the biggest price gains based on AI based RESULTS NOT IDEAS.....

AI boom has " just begun "

Good luck with your own homework & AI based research.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .35% to 1.74%...NICE !!!

 Indices closed strong despite hotter jobs report, giving more proof that this is a major bull market. S&P 500 & DOW keeps making series of new all time highs including today's close.

S&P 500 @ 4958.61, high 4975.29, low 4907.99

RSI @ 68.94

Internals were :

Down volume led by 1.76 to 1 in NYSE & 1.30 to 1 in Nasdaq

Declining stocks led by 1.87 to 1 in NYSE & 1.58 to 1 in Nasdaq

Net new highs were leading by 324 in NYSE & lows by 2 in Nasdaq

VIX Down .22% @ 13.85

Oil @ $72.28

Gold @ $2053.90

Canadian $ @ .6537

In my portfolio...added 50% LSPD @ $24.80 in Toronto

Here is my portfolio weighting :

SHOP       44.74%

CNQ        32.71%

LASPD   18.89%

BTCC.TO 3.66%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .97% to 1.39%...NICE !!!

 Indices closed @ high of the day.

S&P 500 @ 4906.19, high 4906.97, low 4853.52

RSI @ 64.39

Internals were :

UP volume led by 2.47 to 1 in NYSE & 2.20 to 1 in Nasdaq

Advancing stocks led by 3.43 to 1 in NYSE & 1.80 to 1 in Nasdaq

Net new highs were leading by 218 in NYSE & lows by 24 in Nasdaq

VIX Down 3.28% @ 13.88

Oil @ $73.82

Gold @ $2067.10

Canadian $ @ .6613

In my portfolio :

Sold MU @ $85.10 in regular hour

In after hours added 100% SHOP @ $78.28

Here is my portfolio weighting :

SHOP       45.05%

CNQ         37.09%

LSPD        13.85%

BTCC.TO   4.01%

After hours earnings report were outstanding from META & AMZN which prompted me to add SHOP.

BLOG does NOT give buy or sell.

Saleem