US stock market is in overdrive again thanks to NVDA giving most bullish guidance not just for next Q BUT for next year.
NVDA guidance is so strong that other AI leaders are being ignored and actually lower across the board.
US stock market VIX in 14 area is a remarkable indicator of how bullish is market undercurrent.
Stay well diversified and show conviction and patience in your AI plays, they keep taking turns in making new highs despite current malaise.
Here is how my last week ended:
Last week Down 10.70%
YTD. UP 58.40%
Here is my weighting on 78% exposure:
AMDL. 47.59%
MU. 24.52%
GGLL. 15.42%
MVLL. 12.53%
SNDU. 9.97%
BLOG does NOT give buy or sell.
Saleem
1 comment:
Hi Saleem,
Last week: -6.68% (YTD: +0.63%)
Portfolio Leaders: TWST(sold)
Portfolio Laggards: AEVA NN BFLY RKLB
In a week where the large caps held up, but small caps underperformed significantly, the portfolio also declined sharply. The sigh of relief from NVDA's earnings helped assuage the worst fears, but rising yields took a bite out of long duration assets. I have been surprised at the depth of the pullbacks in many of my stocks, but I really don't think yields have much more upside from here, and remain at reasonable levels overall, so I hold for future developments. It does help that bearish sentiment continues to creep higher, and any bullish development should leave a lot of investors offsides. September is historically a tough month ahead of the holiday season which sees year-end boosting, but I think we built a lot of that into August already, so my thoughts are that we can move higher from these levels. I am still interested in the jobs numbers which we will see Friday, and wonder what number will finally make the bond/stock market pause its thinking as some negative numbers are already being shrugged off. Ultimately, profitability remains high and pushing even higher at companies, so we should not confuse purely economic numbers with earnings power (although they do obviously correlate somewhat) -- it was the low growth economy of the '10s that led to one of the most easily sustained bull markets in history. For now, I sit patient and wait for individual company developments, or extreme price action that will allow for adjustments.
Portfolio: BFLY PONY AMBQ WGS AEVA RKLB ENPH NN NNOX(small), cash 0%
Stocktrader
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