Indices closed mixed...

 Indices made a stunning reversal by close after erasing all the losses, great technical strength.

S&P 500 @ 5277.51, high 5280.33, low 5191.68

RSI @ 57.06

Internals :

UP volume led by 3.26 to 1 in NYSE & 1.27 to 1 in Nasdaq

Advancing stocks led by 2.93 to 1 in NYSE & 1.44 to 1 in Nasdaq

Net new highs were leading by 122 in NYSE & lows by 14 in Nasdaq

VIX Down 10.71% @ 12.92

Oil @ $76.99

Gold @ $2346.40

Canadian $ @ .6348

In my portfolio :

Sold INTC.NE @ $17.88

Added 100% NVDA.NE @ $102.88

Added 200% AMD.NE @ $32.08

Here is my portfolio weighting :

SHOP       31.65%

PLTR       22.32%

AMD       21.01%

NVDA     13.60% 

BTCC      9.60%

SOUN     1.82%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .60% to 1.08%....

 Indices closed down on rate jitters.

S&P 500 @ 5235.48, low 5222.10, high 5260.21

RSI @ 51.72

Internals :

UP volume led by 2.48 to 1 in NYSE & 1.99 to 1 in Nasdaq

Advancing stocks led by 2.57 to 1 in NYSE & 1.41 to 1 in Nasdaq

Net new highs were leading by 60 in NYSE & lows by 25 in Nasdaq

VIX UP 1.33% @ 14.47

Oil @ $77.91

Gold @ $2366.50

Canadian $ @ .6326

In my portfolio :

Sold META @ $26.29 in Toronto

Sold DELL in AH @ $139.50

Portfolio AMD INTC NVDA PLTR SHOP SOUN BTCC

DELL earnings were a major disappointment thus my exit....

BLOG does NOT give buy or sell.

Saleem

Indices closed down .58% to 1.48%....

 Indices closed near low of the day on overbought condition.

S&P 500 @ 5266.95, low 5262.70, high 5282.27

RSI @ 56.62

Internals :

Down volume led by 5.05 to 1 in NYSE & 1.65 to 1 in Nasdaq

Declining stocks led by 5.24 to 1 in NYSE & 2.78 to 1 in Nasdaq

Net new lows were leading by 31 in NYSE & 94 in Nasdaq

VIX UP 10.53% @ 14.28

Oil @ $79.34

Gold @ $2361.50

Canadian $ @ .6292

In my portfolio...Bought DELL in pre market @ $165.25

Portfolio AMD DELL INTC META NVDA PLTR SHOP SOUN BTCC

Higher yield & uncertainty about interest rate cut is causing slump.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed on " overbought condition "

S&P 500 @ 5306.04, high 5315.91, low 5280.89

RSI @ 63.55

Internals :

Down volume led by 1.35 to 1 in NYSE & .76 to 1 in Nasdaq

Declining stocks led by 1.75 to 1 in NYSE & 1.34 to 1 in Nasdaq

net new highs were leading by 158 in NYSE & 20 in Nasdaq

VIX UP 4.53% @ 12.92

Oil @ $79.83

Gold @ $2356.50

Canadian $ @ .6365

In my portfolio :

Bought NVDA.NE @ $104.95 in Toronto

Added SHOP.TO @ $77.95

Portfolio AMD INTC META NVDA SHOP PLTR SOUN BTCC

Market strength is only in Nasdaq, rest are weak.

BLOG does NOT give buy or sell.

Saleem 

US stock market, AI rally in overdrive....

 US stock market has seen an immense rally powered by AI related excitement.

YES...we are making series of new all time highs....

YES...we are getting " overbought "

YES...we should diversify into other sectors..

YES...we should book profit..

YES...we should look @ oversold stocks with good prospects..

Markets can make your strategy / exposure sure win formula

BUT....

There is a flip side...

Market can turn quickly on you...

Market can give you false confidence..

By the time one wakes up...generally its too late..

SO...

Do NOT fight for the last $

Have an exit strategy on all stocks in your portfolio..

You CAN always reenter after stocks cools down a bit

AI related stocks are very HOT right now....

Always have a " balanced portfolio " some hot & some cold "

Always factor which sector can outperform based on future gains...

DO NOT be mesmerized by tickers...NVDA is a great stock with great future BUT may have lower return on " near terms basis "

YES...we are all surprised by some stocks like NVDA...which may keep going....BUT IF you HAVE booked profit...then this should not matter much in short term as your next picks may perform better going forward....

World markets were open today except NYSE & London.....

Added 75% SHOP @ $78.25 in Toronto....making SHOP my largest position @ 32% of portfolio...

Good luck with your own strategy and comfort level.

BLOG Does NOT give buy or sell.

Saleem

Indices closed UP .01% to 1.10%...NICE !!!

 Indices closed UP and made new highs again, negated completely yesterdays reversal.

S&P 500 @ 5304.72, high 5311.65, low 5278.39

RSI @ 63.41

Internals :

UP volume led by 2.42 to 1 in NYSE & 1.78 to 1 in Nasdaq

Advancing stocks led by 2.91 to 1 in NYSE & 1.85 to 1 in Nasdaq

Net new highs were leading by 120 in NYSE & lows by 23 in Nasdaq

VIX Down 6.58% @ 11.93

Oil @ $77.72

Gold @ $2334.50

Canadian $ @ .6329

Here is my portfolio weighting :

PLTR       26.96%

SHOP     21.05%

AMD      12.99%

INTC     12.51%

BTCC    12.22%

META   12.00%

SOUN    2.27%

Next post by 6 PM on Monday.

BLOG does NOT give buy or sell.

ENJOY long weekend!!!

Saleem

Indices closed down .39% to 1.60%....

 Indices did a stunning reversal to close near low of the day.

S&P 500 @ 5267.84, low 5256.93, high 5341.88

RSI @ 59.35

Internals :

Down volume led by 5.90 to 1 in NYSE & .98 to 1 in Nasdaq

Declining stocks led by 5.13 to 1 in NYSE & 3.59 to 1 in Nasdaq

Net new highs were leading by 103 in NYSE & lows by 20 in Nasdaq

VIX UP 3.91% @ 12.77

Oil @ $76.87

Gold @ $2350.70

Canadian $ @ .6299

In my portfolio :

Sold NVDA @ $98.65 in Toronto

Bought BBTO in Toronto @ $12.73

Portfolio AMD INTC META PLTR SHOP SOUN BTCC

Friday will determine IF we confirm or deny this REVERSAL...

BLOG does NOT  give buy or sell.

Saleem

Indices closed down .18% to .79%....

 Indices closed down on jitters from Fed meeting minutes, It mentioned Inflationary pressure as a major concern.

S&P 500 @ 5307.01, low 5286.01, high 5323.18

RSI @ 66.65

Internals :

Down volume led by 2.11 to 1 in NYSE & .53 to 1 in Nasdaq

Declining stocks led by 2.75 to 1 in NYSE & 1.50 to 1 in Nasdaq

Net new highs were leasing by 153 in NYSE & 11 in Nasdaq

VIX UP 3.63% @ 12.29

Oil @ $77.57

Gold @ $2338.90

Canadian $ @ .6328

In my portfolio...Added 50% NVDA in Toronto @ $89.41

Portfolio AMD INTC META NVDA PLTR SHOP SOUN

After hour NVDA lit the bullish fire on AI again....closing @ $1007.00 on a stunning earnings report....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .17% to .25%...NICE !!!

 Indices closed UP....BUT internals were mostly negative.

S&P 500 @ 5321.41, high, high 5324.32, low 5297.83

RSI @ 69.58

Internals :

Down volume led by 1.20 to 1 in NYSE & 1.55 to 1 in Nasdaq

Declining stocks led by 1.07 to 1 in NYSE & 1.35 to 1 in Nasdaq

Net new highs were leading by 278 in NYSE & 22 in Nasdaq

VIX Down 2.39% @ 11.86

Oil @ $79.26

Gold @ $2425.90

Canadian $ @ .6350

In my portfolio :

Sold MSFT @ $31.65 in Toronto

Sold 50% NVDA @ $90.00

Portfolio AMD INTC META NVDA PLTR SHOP SOUN

After close its all about NVDA earnings report & commentary about AI & all its potential.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

Indices closed mixed, Nasdaq was the-best performer with NVDA getting close to new all time high.

S&P 500 @ 5308.13, high 5325.32, low 5302.40

RSI @ 68.39

Internals :

UP volume led by .87 to 1 in NYSE & 2.66 to 1 in Nasdaq

Advancing stocks led by 1.14 to 1 in NYSE & .99 to 1 in Nasdaq

Net new highs were 486 in NYSE & 121 in Nasdaq

VIX UP 1.33% @ 12.15

Oil @ $79.80

Gold @ $2435.80

Canadian $ @ .6380

Portfolio AMD INTC META MSFT NVDA PLTR SHOP SOUN

Despite higher yield Nasdaq & Russell 2000 closed higher.

BLOG does NOT give buy or sell.

Saleem

US stock market & NVDA earning report....

 US stock market is hitting series of new all time highs.....

Reason for these all time highest numbers can be traced back to an exciting area of AI

NVDA lit the AI fire by reporting sales and earnings which " shocked " investment community...

NVDA has reported 3 back to back quarters with " better and better earnings & sales growth... 

While NVDA is scooping all they could handle in terms of sales, competition remains asleep...

AMD has done lot of talking after each earnings report BUT no real growth...

On May 22nd after close NVDA will report and expect it to be another " huge beat "

However.....this time "shorts are very vocal that so-called competition is catching up"

I beg to differ completely.....

NVDA will continue to dominate like CSCO in its peak days...while other network companies became also ran....

Similar picture emerged in PC era with DELL dominated while others became also ran....

It IS important to recall past domination and understand why " leadership stocks never look back "

Not only NVDA will dominate for years BUT may split stocks many times, first announcement may come @ this earnings report....hopefully....

It IS important to be involved in Generative AI stocks...there are many who are part of this emerging market....

Good luck with your own research and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

Indices closed mixed but DOW @ new all time high @ 40003.59.

S &P 500 @ 5303.27, high 5305.45, low 5283.59

RSI @ 67.97

Internals :

UP volume led by 1.44 to 1 in NYSE & .59 to 1 in Nasdaq

Declining stocks led by .84 to 1 in NYSE & 1.10 to 1 in Nasdaq

Net new highs were leading by 328 in NYSE & 84 in Nasdaq

VIX Down 3.46% @ 11.99

Oil @ $80.06

Gold @ $2417.40

Canadian $ @ .6380

In my portfolio...added 125% NVDA @ $87.50 in Toronto

Here is my portfolio weighting :

NVDA       33.95%

PLTR        17.01%

SHOP       13.16%

MSFT      11.57%

INTC        7.89%

AMD        7.83%

META       7.21%

SOUN      1.38%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .10% to .63%....

 Indices closed @ low of the day in profit taking.

S&P 500 @ 5297.10, low 5296.19, high 5325.49

RSI @ 69.45

Internals :

Down volume led by 1.21 to 1 in NYSE & .18to 1 in Nasdaq

Declining stocks led by 1.20 to 1 in NYSE & 1.13 to 1 in Nasdaq

Net new highs were leading by 450 in NYSE & 126 in Nasdaq

VIX Down .24% @ 12.42

Oil @ $79.23

Gold @ $2383.90

Canadian $ @ .6389

In my portfolio...Sold BTCC @ $12.49 in Toronto

Portfolio AMD INTC META MSFT NVDA PLTR SHOP SOUN

Indices took a well deserved rest after major gains of making many new all time highs.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .88% to 1.40%...NICE !!!

 Indices jumped into a new all time highs. CPI was inline.

S&P 500 @ 5308.15, high 5311.76, low 5263.26

RSI @ 69.31

Internals :

UP volume led by 1.55 to 1 in NYSE & 2.61 to 1 in Nasdaq

Advancing stocks led by 3.02 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new highs were leading by 605 in NYSE & 189 in Nasdaq

VIX Down 7.23% @ 12.45

Oil @ $78.63

Gold @ $2394.90

Canadian $ @ .6382

Portfolio AMD INTC META MSFT NVDA PLTR SHOP SOUN BTCC

10 year yield near 200 DMA gave boost to equities.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .32% to 1.14%...NICE !!!!

 Indices closed near high of the day despite hotter than expected PPI.

S&P 500 @ 5246.68, high 5250.37, low 5217.98

RSI @ 64.22

Internals :

UP volume led by 3.20 to 1 in NYSE & 5.15 to 1 in Nasdaq

Advancing stocks led by 2.43 to 1 in NYSE & 1.83 to 1 in Nasdaq

Net new highs were leading by 327 in NYSE & 87 in Nasdaq

VIX Down 1.32% @ 13.42

Oil @ $78.02

Gold @ $2356.70

Canadian $ @ .6344

In my portfolio...Bought SHOP @ $77.85 & $78.40 in Toronto

Portfolio AMD INTC META MSFT NVDA PLTR SHOP BTCC SOUN

Nasdaq closed @ new all time high, a sign of series of higher highs.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed in anticipation of inflation data.

S&P 500 @ 5221.42, low 5211.16, high 5237.26

RSI @ 61.80

Internals :

UP volume led by 1.42 to 1 in NYSE & 2.88 to 1 on Nasdaq

Advancing stocks led by 1.23 to 1 in NYSE & 1.14 to 1 in Nasdaq

Net new highs were leading by 271 in NYSE & 54 in Nasdaq

VIX UP 8.37% @ 13.60

Oil @ $79.12

Gold @ $2343.00

Canadian $ @ .6320

Portfolio AMD INTC META MSFT NVDA PLTR SOUN BTCC

Indices are behaving well, looks like ready to move higher given neutral to better inflation number.

BLOG does NOT give buy or sell.

Saleem

US stock market...what is working....

 US stock market is going through its rotation in a big way...

What was HOT is NOT

What is working is very interesting....

Here is an analysis of RSI for different sectors :

DOW      65.78

XLF        65.76

S&P 500 62.00

GLD       61.43

Nasdaq  58.87

IBB        58.21

IWM      56.80

TAN      49.90

XLE      49.27

You can clearly see that Nasdaq is not the hottest..

Energy has fallen to the last place

IWM & TAN are struggling badly

XLF has jumped into the 2nd hottest sector

DOW has taken the top spot thanks to many out of favor sectors

This is what rotation looks like in wall street

It IS very important to rotate your portfolio accordingly

It IS also important to follow the money...

MAY is not the most desirable time on Wall Street, as a matter of fact...October to April is the most desirable time to get overweight in market...

May to September underweight is the game....

While you are underweight now, play beaten down stocks, as they may show some rebound

Good luck with your own homework & comfort level

SEASONALITY MATTERS...

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed near high of the week.

S&P 500 @ 5222.68, high 5239.66, low 5209.68

RSI @ 62.00

Internals :

Down volume led by 1.36 to 1 in NYSE & 1.63 to 1 in Nasdaq

Declining stocks led by 1.10 to 1 in NYSE & 1.58 to 1 in Nasdaq

Net new highs were leading by 336 in NYSE & 69 in Nasdaq

VIX Down 1.10% @ 12.55

Oil @ $78.26

Gold @ $2375.00

Canadian $ @ .6331

In my portfolio...Bought PLTR @ $21.36 & $20.75

Here is my portfolio weighting :

NVDA       25.10%

PLTR        21.35%

MSFT       15.13%

INTC          9.82%

META        9.65%  

AMD          9.58%

BTCC        7.53%

SOUN       1.84%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .27% to .90%...NICE !!!!

 Indices closed UP as economic data keeps supporting a rate cut.

S&P 500 @ 5214.08, high 5215.30, low 5180.41

RSI @ 61.23

Internals were :

UP volume led by 3.16 to 1 in NYSE & 1.66 to 1 in Nasdaq

Advancing stocks led by 2.88 to 1 in NYSE & 1.65 to 1 in Nasdaq

Net new highs were leading by 322 in NYSE & 68 in Nasdaq

VIX Down 2.38% @ 12.69..low today 12.68..52 week low 11.81....

Oil @ $79.26

Gold @ $2349.60

Canadian $ @ .6305

Portfolio AMD INTC META MSFT NVDA SOUN BTCC

Indices closed @ high of the day, AI stocks were lower indicating rotation....

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed after weeks of UP move, DOW closed UP again.

S&P 500 @ 5187.67, low 5165.67, high 5191.95

RSI @ 58.84

Internals were :

Down volume led by 1.08 to 1 in NYSE & 1.46 to 1 in Nasdaq

Declining stocks led by 1.31 to 1 in NYSE & 1.23 to 1 in Nasdaq

Net new highs were leading by 161 in NYSE & 14 in Nasdaq

VIX down 1.74% @ 13.00

Oil @ $78.99

Gold @ $2322.80

Canadian $ @ .6277

Portfolio AMD INTC META MSFT NVDA SOUN BTCC

Indices needs to digest gains for few days then another thrust UP.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed after being UP for almost 2 weeks.

S&P 500 @ 5187.70, high 5200.23, low 5178.96

RSI @ 58.85

Internals were :

UP volume led by 1.05 to 1 in NYSE & 1.01 to 1 in Nasdaq

Advancing stocks led by 1.52 to 1 in NYSE & .95 to 1 in Nasdaq

Net new highs were leading by 270 in NYSE & 81 in Nasdaq

VIX down 1.93% @ 13.23

Oil @ $78.38

Gold @ $2331.20

Canadian $ @ .6284

In my portfolio :

Sold SHOP @ $106.40 in Toronto

Sold GOOG @ $29.05 in Toronto

Portfolio AMD INTC META MSFT NVDA BTCC SOUN

Indices may need to digest gains for few trading days....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .46% to 1.23%...NICE !!!

 Indices closed near high of the day , a stunning performance by, Nasdaq, S&P 500 & Russell 2000 which was the-best performer.

S&P 500 @ 5180.74, high 5181.00, low 5142.42

RSI @ 58.27

Internals were :

UP Volume led by 3.52 to 1 in NYSE & 1.83 to 1 in Nasdaq

Advancing stocks led by 3.97 to 1 in NYSE & 1.73 to 1 in Nasdaq

Net new highs were leading by 206 in NYSE & 93 in Nasdaq

VIX unchanged @ 13.49

Oil @ $78.48

Gold @ $2334.70

Canadian $ @ .6339

Portfolio AMD GOOG INTC META MSFT NVDA SHOP SOUN BTCC

Nasdaq, Russell 2000 & S&P 500 are all above 50 DMA which IS a very good technical picture.

BLOG does NOT give buy or sell.

Saleem

US stock market ...Rally is ON.....

 US stock market waited & waited for some relief on interest rate front....It was a wait worth waiting for....

Fed Chief & its voting member will have the reason to tinker down interest rate ....

Jobs growth is slowing down big time ....

IT people knew all about layoffs in most magnificent 7 and then some.....

AI is showing all industries how they can improve productivity...

Job losses will only accelerate going forward & Fed will be behind curve again very soon....expect more rate cuts .....3 in 2024

AI will get its " wow moment " when NVDA reports on May 22nd....best of breed & leader of the pack by 10 yards.....

Crypto should do well going forward.....

Earnings were as expected NO REAL WOW yet.....

AI companies should do well from Q3 and going forward.....thus strategic buying should be done before NVDA reports....

Energy & Gold is played out for the most part....going forward they may pace the averages....thus a market weight may be OK...

Technology leaders should do very well for next 2 years...stars are lined up nicely....

It is a buy good companies and show " conviction "

Good luck with your own analysis & comfort level..

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.18% to 1.99%...NICE !!!

 Indices closed near high of the day on softer jobs data, raising hope for earlier rate cut by Fed.

S&P 500 @ 5127.79, high 5139.12, low 5101.22

RSI @ 53.63

Internals were :

UP volume led by 2.36 to 1 in NYSE & 2.78 to 1 in Nasdaq

Advancing stocks led by 3.62 to 1 in NYSE & 2.00 to 1 in Nasdaq

Net new highs were leading by 145 in NYSE & 60 in Nasdaq

VIX Down 8.11% @ 13.49

Oil @ $78.11

Gold @ $2309.10

Canadian $ @ .6313

Here is my portfolio weighting :

SHOP     23.82%

NVDA     21.07%

MSFT    12.61%

GOOG  10.09%

INTC      8.63%

AMD      8.07%

META    7.78%   

BTCC    6.54%

SOUN   1.39%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .85% to 1.81%...NICE !!!

 Indices recovered from Fed statements and started buying stocks @ bargain prices.

S&P 500 @ 5064.20, high 5073.21, low 5011.05

RSI @ 47.07

Internals were :

UP volume led by 3.21 to 1 in NYSE & 2.57 to 1 in Nasdaq

Advancing stocks led by 3.63 to 1 in NYSE & 2.29 to 1 in Nasdaq

Net new highs were leading by 83 in NYSE & lows by 24 in Nasdaq

VIX down 4.61% @ 14.68

Oil @ $78.95

Gold @ $2309.60

Canadian $ @ .6298

Portfolio AMD GOOG INTC META MSFT NVDA SHOP BTCC SOUN

It is all about jobs data @ 830 AM, hoping for an inline or softer data.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices were all over the place, sharply UP & losing all gains. Fed statement & Fedspeak was quite hawkish...

S&P 500 @ 5018.39, low 5013.45, high 5096.12

RSI @ 41.54

Internals were :

UP volume led by 1.18 to 1 in NYSE & 1.43 to 1 in Nasdaq

Advancing stocks led by 1.38 to 1 in NYSE & 1.50 to 1 in Nasdaq

Net new highs were leading by 16 in NYSE & lows by 50 in Nasdaq

VIX Down 1.66% @ 15.39

Oil @ $79.00

Gold @ $2312.70

Canadian $ @ .6235

In my portfolio...Added 100% BTCC.TO @ $10.78 in Toronto

Portfolio AMD GOOG INTC META MSFT NVDA SHOP SOUN BTCC

Hopefully there may be " rethink " about Fed...and may see green Thursday...

BLOG does NOT give buy or sell.

Saleem