Indices were under selling pressure due to fear of inflation and potentially hawkish Fed statement.
S&P 500 @ 5035.69, low 5035.31, high 5110.83
RSI @ 43.12
Internals were :
Down volume led by 7.53 to 1 in NYSE & 1.92 to 1 in Nasdaq
Declining stocks led by 4.60 to 1 in NYSE & 2.56 to 1 in Nasdaq
Net new highs were leading by 57 in NYSE & lows by 66 in Nasdaq
VIX UP 6.68% @ 15.65
Oil @ $81.93
Gold @ $2303.90
Canadian $ @ .6249
In my portfolio...Bought BTCC.TO in Toronto @ $11.34
Portfolio AMD GOOG INTC META MSFT NVDA SHOP SOUN BTCC
It is all about Fed statement @ 2 PM, hawkish insert may put more selling pressure....Sell in May could be a reality this year.... AMD earnings did not impress AH crowd....
BLOG does NOT give buy or sell.
Saleem
ReplyDeleteHi Stocktrader,
Added 100% BTCC.TO @ $10.78 in Toronto
Saleem
Hi Saleem,
ReplyDeleteGood luck with more BTCC.TO!
The Bitcoin and gold moves have puzzled me this year given the strong dollar and market.
Stocktrader
Good morning Saleem and stocktrader,
ReplyDeleteHope everything is fine with you.
SMCI is down 20%. Is it worth nibble a few shares?
It is so scary to buy the stock.
Joseph
Hi Joseph,
ReplyDeleteI don't particularly like the stock because I don't believe in the durability of its competitive edge. I would personally go for something more like AMD if you wanted to buy a dip today.
Stocktrader
Hi Stocktrader,
ReplyDeleteThanks for your input
Joseph
Hi Saleem,
ReplyDeleteSold SNAP @ 15.92 to take profits
SNAP remains vulnerable to a slowdown in ad spending if the economy weakens from here.
Stocktrader
Great job on SNAP profits! Thanks for AMD inputs. I just bought some. Thank you!
ReplyDeleteHi Stock Rookie,
ReplyDeleteThank you for the kind words on SNAP - sometimes just realizing all the bad news is already in a stock is better than just expecting good news.
I find the charts of AI and IONQ most interesting as the relative strength recently is starting to show. AMD is still expensive and forward margins are a concern as more chipmakers ramp up their offerings and some ultra big companies bring production in house.
Stocktrader
Thank you for your thesis. I remembered I made decent money following you and Saleem. I don't know alot about stocks but I follow you both trying to buy whatever you both buy hahaha. Thank you both again! Have a blessed day!
ReplyDeleteMy current portfolios: META, AAPL, NVDA, AMZN, AMD, ZENV, AMKR, IONQ, FLYW. Looking to buy AI & DCBOnow.
ReplyDelete
ReplyDeleteHi Joseph,
Stocktrader reply is worth following on SMCI....
Saleem
ReplyDeleteHi Stocktrader,
Good job on SNAP....35% is pretty good $$$$$
Saleem
ReplyDeleteHi Stock rookie,
Pretty good portfolio....
Good luck !
Saleem
Thank you sir!
Delete