US stock market is giving one day rest to regroup infrequently....
BUT technicians read too much into it....
OH 5 day support is broken
OH 10 day support is broken
And god forgive 21 day line may be going....
BUT
That analysis is good for 1 day only...
Next day whole thesis is shot....
BUT they have a final verdict
I would have preferred testing of 50 DMA....
US stock market is having " best momentum since 1997- 1999 "
AI & QUANTUM is the keyword
100s of companies are running away with momo driven AI/ Quantum focus
Magnificent 5 are in the front lead while 2 are lagging badly....
Message of the market has been " clear since 2023 "
Follow the money....nothing too technical about that...look @ frequently gainers list & new 52 wk high list....
Here is how my last week ended :
Last week UP .73%
YTD UP 69.12%
Here is my weighting based on 72% exposure with " house money "
UBER 40.00%
TSLA 25.73%
AAPL 13.11%
AMD 10.96%
RIOT 7.48%
GOOG 2.72%
BLOG does NOT give buy or sell
Saleem
3 comments:
Hi Saleem,
Sold SITM @ 276.21 as near term earnings might have a question mark
Bought ANAB @ 36.52 as the company splitting into two publicly traded companies should unlock value (new analyst price targets in the 70s) and short interest remains very high (26%). This seems like a very positive setup into year end.
Stocktrader
Hi Stocktrader,
Good luck with ANAB....
Saleem
Hi Saleem,
Last week: +0.53% (YTD: -11.37%)
Portfolio Leaders: WGS AEVA AVAV
Portfolio Laggards: OCC PONY
In a week that started rough, a buy-the-dip rebound helped power the portfolio and the markets. Large caps continue to lead the way while the smaller momentum stocks are still seeing very large daily moves both up and down. Some strategic re-allocation near the lows helped the portfolio, and I hope I am appropriately set now for year-end (just 2 months away!). The Federal Reserve meets again this week, and with another cut likely, the bias for the markets should still be higher. Some large cap tech names do report, and I'm not quite sure how to view those specifically, but overall I don't expect many surprises. Sentiment and price action got refreshed in many small names, so I look for those to outperform in these final months.
Holdings: BKSY ASPI PONY WGS AEVA AVAV ANAB OCC FATN, cash 0%
Stocktrader
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