US stock market finally gave in to repeat escalation of tariff with China & Tuesday's enforcement with Canada & Mexico....
As a Canadian I can safely say this has " damaged relationship with a good neighbor "
World has changed, It IS NEVER WISE to OVERPLAY an old formula....This tactics MAY have worked in the past....BUT NOW many are fed UP with unilateral misquoting of FACTS.....
BUT everyone learns the hard way with lot of damage done in the process...so much for tariff.....
Majority of stocks are on sale.....black Friday sale.....
IF there is room in your portfolio, pick up everything on sale....prices are way down...even below 200 DMA an ideal time to buy.....
YES there is lot of uncertainty BUT life goes ON even on Wall Street....
BUY whatever you know well and looks good.....
Here is my last week :
Last week Down 8.02%
YTD UP 8.31%
Here is my portfolio weighting :
SHOP 17.62%
GOOG 17.25%
TSLA 11.17%
AAPL 10.61%
SMCI 9.04%
NVDA 8.75%
AVGO 8.30%
MSFT 6.97%
MU 3.88%
UBER 3.64%
RIOT 2.83%
BLOG does NOT give buy or sell
On my health front, heart seems to be working fine, next echo & ecg and its results to be discussed on July 11th, by my Cardiologist, in the meantime medication continues and working on gaining weight...Thanks for all your prayers & best wishes.....
Saleem
7 comments:
Hello Salem,
Thank you for the Sunday's blog!
So happy to your heart continue to improve. Praying for you to regain your weight back to normal. Be strong & positive as God will heal you :-)
Simon
Hi Saleem,
Thanks for the market insights. It is a good news to hear you have gained some strength on your health. Continue to pray for your full recovery!
Michael
Hi Saleem,
Glad to hear the heart is working well - now to gain some weight and really feel back to old self!
Stocktrader
Hi Saleem,
Sold ODD @ 45.16 to raise cash
Added 25% to SOUN @ 10.24
Added 25% to DAVE @ 93.08
Added 25% to ATOM @ 5.36
Added 15% to PSNL @ 4.07
Added 10% to SERV @ 8.37
DAVE reports after the bell (conference call tmrw) and SERV reports on Thursday after the bell..
Stocktrader
Hi Saleem,
Last week: -10.21% (YTD: -23.15%)
Portfolio Leaders: SOUN
Portfolio Laggards: PRAX(-48%) SERV(-25%) PSNL(-12%)
In a pullback week for the markets, the portfolio performed worse due to specific names. It seems to me the price action and sentiment are at extreme negatives right now, and we keep dropping on the same kinds of tariff news: to me I feel like this means we should rebound shortly, and I have re-positioned in riskier names to take advantage of that.
Holdings(after today's moves): SOUN(24%) DAVE(18%) RBRK(15%) SERV(15%) ATOM(14%) PSNL(14%), cash 0%
Stocktrader
Hi Saleem,
Sold SOUN @ 9.28 on self-reported material weaknesses in internal controls and delay in 10-K filing
Added to DAVE @ 86.47 on great earnings and guidance, business is very healthy and growing still
Added to SERV @ 8.00 on severe oversold conditions and ahead of earnings this week
Added to ATOM @ 5.31 on technical strength and upcoming catalysts
Added to PSNL @ 3.79 on better-than-feared earnings last week
Added small to RBRK @ 59.26 with remaining funds
Stocktrader
Hi Stocktrader,
Good luck with more additions to favorite stocks.
Thanks to Michael, Simon & you for your best wishes for my health, have gained 2 pounds for the first time.....
Saleem
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