US stock market has been an outstanding performer, impressive gain in Q1 in key Indices....
The question which IS in every investor / trader mind, did we borrow all the gains for 2024 in Q1?
Good question ....
My personal opinion is " NO "
This US market remains in a strong bull mode....
Higher we go, It will be more volatile...
Trading in new all time highs is NOT a run of the mill phenomenon
It brings fear of losing gains....thus renewed selling to lock gains...
BUT after couple of days of "spirited selling " strong bull market makes another high or attempts to...
Higher we go, higher the volatility...
Take advantage of volatility by having a buy & sell list ready on a weekly basis & execute
Keep RSI in focus for every buy or sell based on nothing else BUT relative value...lower the better...or less higher the better...
Here are the RSI for key indices :
DOW 47.21
Russell 2000 50.42
Nasdaq 52.96
S&P 500 55.91
Above RSI shows there is much more room to run in near term...
You make money on Wall Street by staying engaged in markets, however you play....
IF you do not stay in market, some of the biggest move in a single day will be missed completely.
US economy is in good productive mode, with more gains coming
AI is finally in everyone's mind now
How to play AI is becoming more of a challenge...
Old favorites like AI & PLTR are struggling as they are becoming smaller player in a fast moving and fastest growing AI segment.
Please buy best names in AI arena as this IS the game going forward.
Biggest gains, split will come from AI segment.
Try not to second guess what IS very obvious winners....NO they are not frothy @ all...create your own AI basket of stocks..& let It RUN....
Good luck with your own ideas about this market.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week: -3.24% (YTD: +4.39%)
Portfolio Leaders: ALAR
Portfolio Laggards: ZENV FLYW ENPH MTRN
It was a pullback week for the portfolio and the markets, with some companies getting hit especially hard as interest rates bumped up again on firm data. I did some good sells on weaker stocks in the portfolio, but bought back that same day on modest price declines - I should have stayed out because my reasons for selling were not for a 2% difference, and subsequent analyst actions have depressed those stocks much further in just a few days. I continue to learn lessons every day! As we look forward to earnings ahead, I will try to position new money in stocks I think can exceed expectations, but paying attention to positive relative performance.
Holdings: ALAR FLYW AGCO DCBO MTRN ENPH ZENV IONQ PSNL, cash 0%
Stocktrader
Hi Saleem,
Sold ENPH @ 115.31 on expected disappointments in earnings and guidance
Bought SNAP @ 11.31 on positive recent price action and continued expected gains in Snapchat+ users
Stocktrader
Hi Stocktrader,
Last week Down 3.87%
YTD Down 5.72%
Saleem
Hi stocktrader,
Good luck with SNAP....
Saleem
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