US stock market was making new highs on a daily basis when President Trump decided to start a new trade war with China.....
Reaction was sharp & swift, down we went in a hurry...
We should find support in next 2 trading days...
200 DMA is a very strong support...
50 DMA slump has started already...
Buying above 200 DMA is highly profitable
Buying strong stocks and dumping weaker ones is a good " survival strategy "
Here is how my last week ended despite Friday's slump
Last week UP 8.73%
YTD UP 62.56%
Here is my weighting on 106% exposure :
AMD 38.35%
AAPL 33.90%
SHOP 18.82%
UBER 8.93%
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hi Saleem,
Sold YOU @ 30.23
After rethinking this position, I question their long term positioning in airports and think new business opportunities are still extremely nascent. The price action this month has been poor and I fear it won't be able to regain momentum in the final 2.5 months.
Stocktrader
Hi Stocktrader,
Good idea to evaluate, good luck with next pick.
Saleem
Hi Saleem,
Congrats on ANOTHER stellar week with a great AMD gain!
Last week: -10.09% (YTD: -7.61%)
Portfolio Leaders: none
Portfolio Laggards: all
The market sold off in a big way on Friday and the portfolio was crushed. I was disappointed because the huge cash position with which I started the week was already deployed and the actual opportunity on Friday was lost for me. The error I made was actually selling in the first place, and once again it shows that timing in *this* market is extremely hard as suddenly one's favorite stocks will make 50% moves in a very short time. Speaking to that, I made another mistake by selling AVAV for short term reasons when the future was still ahead and bright - I will try not to make that same mistake again this year. Beyond just overall themes, earnings season is upon us and often times in a raging bull market, the post-earnings reaction is muted (see AEHR) as the stories in many of the story stocks just aren't playing out exactly yet. This will not be the case for the large caps that continue to see accelerated revenue and earnings, but is a risk for the smaller and/or more speculative stocks.
Holdings: OCC PONY BKSY WGS CVCO SITM LKNCY AEHR FATN, cash 10%
I will probably buy either AEVA or ASPI with the YOU proceeds from today (today is not a settlement day so I can't immediately buy today without penalty).
Stocktrader
Hi Saleem,
Added small to OCC @ 8.73
Bought AEVA @ 16.96
With the chart having rested from the huge run in May/June, I look for fresh catalyst and deal announcements to propel the stock from here. I'm trying to decide how to handle the ASPI situation, but I don't have cash for now so I watch.
Stocktrader
Hi Stocktrader,
Good luck with AEVA and more OCC
Others have to wait until financially ready..,
Saleem
Hi Stocktrader,
Good luck with more OCC and bought back AEVA.
Simon
Hi Saleem,
I'll be out of town starting tonight and through the weekend, but I will be watching the price action in ASPI closely after this announced $250 mixed securities shelf. I don't really know what I'd sell, but maybe an opportunity arises.
Stocktrader
Hi Saleem,
Sold AEHR @ 27.80 to raise cash for ASPI purchase. I have an offer for 12.60 but I'm not sure if it'll hit today.
Stocktrader
Ok I have a busy day, so I just bought at 13.57 so I don't have to worry about it anymore.
Hi Stocktrader,
Good luck with ASPI....
Saleem
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