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
Hi Saleem,
ReplyDeleteI'll be buying AI HOOD SPOT ULTA at some point today:
Ai is showing resilience even as the GME-inspired rally fades. The government contract momentum was good last quarter and I'm looking for that to continue later this month when they report.
I had a flooring guy come to the house last week and he brought up HOOD to me (yes, we talked stocks haha). I meant to consider it more carefully at the time but forgot and here we are today with a double upgrade by an analyst who was previously bearish. The rationale for the company makes sense here as assets are back in growth mode and their investor base is starting to hit an inflection in wage growth and may look to focus more on long-term growth of assets but still enjoy the ease of the platform which first ignited their stock passion.
SPOT continues to impress me with innovation when I thought there couldn't be any more in the music-streaming space. Also, they recently made lyrics a premium-only feature which could drive another leg higher in subscriber growth.
I continue to believe beauty is a major priority spend for 15-30 year olds and think the recent selloff could be overdone. The recent overall consumer spending data also shows a slight slowdown as consumers fight lingering inflationary prices, and big-ticket items like houses, cars, and vacations might take a backseat for now - this leaves opportunity for small pleasures like beauty and skincare. The latest trend is to "try" new products and ULTA could provide a good platform to find new ideas for consumers.
Stocktrader
ReplyDeleteHi Stocktrader,
Your flooring guy is in wrong profession.....
Enjoyed your detailed analysis of your potential buys
Good luck$$$$
Saleem
ReplyDeleteHi Stocktrader,
Added 125% NVDA @ $87.50
Saleem
Hi Saleem,
ReplyDeleteBought SPOT @ 300.12
Bought AI @ 26.20
Bought HOOD @ 19.75
Bought ULTA @ 397.52
Stocktrader
Hi Saleem,
ReplyDeleteGood luck with more NVDA ahead of next week's earnings!
Stocktrader
Hi Saleem,
ReplyDeleteHad leftover cash and made small adds to ALAR BMR HOOD AI ULTA to level position sizes across the portfolio. 0% cash again.
Stocktrader
Good luck to both on NVDA, HOOD, AI, ULTA, and SPOT!
ReplyDelete