Indices closed near high of the day.
S&P 500 @ 5471.05, 5484.20, low 5434.49
Internals :
UP volume led by 2.30 to 1 in NYSE & 2.15 to 1 in Nasdaq
Advancing stocks led by 2.15 to 1 in NYSE & 1.58 to 1 in Nasdaq
Net new highs were leading by 147 in NYSE & lows by 100 in Nasdaq
VIX Down 13.09% @ 19.45
Oil @ $68.41
Gold @ $2832.70
Canadian $ @ .6435
Portfolio MSFT NVDA BTCC.B SHOP CMG BTC AAPL SMCI
Indices staged a deeply oversold bounce.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week: +4.80% (YTD: -0.79%)
Portfolio Leaders: TZA
Portfolio Laggards: everything else
In a huge pullback week for the market, the portfolio performed well given the large short exposure. Although it is growing in overall relative size, I still think small caps remain the weakest part of the market and will hold on for some further time or until I want to trim and gain some exposure to a specific stock (eye on CSTL at this moment). With economic data holding up okay for now, the Fed is likely to go slow in cutting rates, but the economic slowing does exist and earnings estimates are at risk for most of the market. Political uncertainties may add to both a sentiment and spending pause in coming weeks, so my general target time for unwind of the hedge is late-October when we might feel the worst of it, but even then I may keep some going forward until the economy truly bottoms. The way I might be wrong is if companies are able to capture higher revenue and earnings than expected due to individual company efforts and/or efficiencies from AI. Eventually these factors may propel companies forward even in a slower growth economy.
Holdings: TZA(55%) MSTR(13%) ZENV FLYW PSNL BMR, cash 0%
Stocktrader
Hello Stocktrader!
I know ZENV's earnings just ok. What's your on take on it for future hold? Thank you!
Hi Stock Rookie,
The earnings did seem okay but the decline in customer count was a bit of an issue. I did not see major red flags given the valuation already so I continue to hold. It's a tough stock to own in this kind of environment certainly, though.
Stocktrader
Thank you sir your opinions!
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