US stock market is in deep oversold condition, thus an oversold bounce is happening.
Do NOT put your celebration hat, rallies are lasting a day only.
Market Internals are absolutely horrible.
Many senior strategists are extremely defensive
This year, market is decidedly bearish.
Do NOT overstay your welcome
Here is how my last week ended.
Last week UP14.25%
YTD UP 58.54%
Here is my weighting on 22.67% exposure
AMDL 42.67%
MU.TO. 33.49%
GGLL 19.28%
MVLL 4.58%
BLOG does NOT give buy or sell.
Saleem
11 comments:
Hi Saleem,
Congrats on the nice rebound week!
My results last week: +3.13% (YTD: -3.47%)
Portfolio Leaders: AEVA PONY BFLY
Portfolio Laggards: BODI AMBQ
It was another volatile week but the averages came out ahead and the portfolio outperformed. I think sentiment had/has finally washed out enough that we can build purposefully from here, regardless of the gyrations from the new Fed or lingering Iran. Good stocks and earnings will always be rewarded, and our job as investors is to find those stories and ideas, hopefully before everyone else. These next few weeks will see a lot of my companies report, and I look forward to fully exploring their reports and conference calls. I am comfortable with the portfolio here (as well as being out of town a lot in recent weeks) and haven't made changes in a while.
Holdings: TWST BFLY PONY AEVA RKLB AMBQ BODI CODA NN NNOX, cash 0%
P.S. I do see indications of liquidity improving and spreads narrowing in my smaller stocks, and I find this to be a good sign for market health also.
Stocktrader
Hi Salem & Stocktrader,
Congrats both on a positive week. Let's hope it will continue for everyone :-)
Simon
Hi Saleem,
Trimmed a little TWST @ 112.39 on the strong run.
Added to AMBQ @ 63.93
Saving a little dry powder in case AEVA drops after earnings tonight.
Stocktrader
Hi Salem,
Great run with TWST and good luck with more AMBQ...
Simon
Hi Simon,
It is tempting to sell the whole TWST because it really is hitting a valuation that makes it much less interesting for a while, but as I don't have another idea yet, I'll keep a standard size position for now.
Stocktrader
Hi Stocktrader,
Can't wait for your next idea :-)
Simon
Briefly did a scan of the 52-wk high list and nothing of particular interest. I also looked back at prior picks and WGS was the only potential.
Hi Stocktrader,
Your research and conviction really help us always. I'va been following you and Salem since I entered the market. Thank you both!
Simon
Simon
Added the rest of the cash to AMBQ since AEVA didn't drop.
Hi Stocktrader,
AMAZING AEVA earnings $$$$. Good luck with more AMBQ and upcoming earnings.
Simon
Hi Salem,
Haven't heard from you lately. Praying everything ok with you sir!
Simon
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