A choppy Monday and Tuesday turned into a strong end-of-week.
The equities market is currently very hard to read, but Friday’s Nonfarm Payrolls were good enough to arouse the bulls. Employment numbers still look good and inflation hasn’t taking over the conversation. So far, so good. But, the inverted yield curve, interest rates, and wage concerns still remain. Of course, there is always our trade war and North Korea. Ug.
Despite the looming macro news, there are still a lot of equities riding bull trends that have lasted for years. The leaders lead and keep on leading. Until they roll over, I’m still in the game.
On Thursday, I joined the buying momentum and added a good number of positions into my short-term trading account. Before Thursday, I was already positioned in C, TTWO, AAPL, ADBE, and SYK.
Current positions (51% cash):
C |
AAPL |
SYK |
TTWO – |
ADBE |
EKSO |
FIT |
STLD |
ORLY |
XOM |
CRON |
Next Week
Who knows. Although Friday’s move was impressive, the overall market is still down for the year. It’s still a stock picker’s environment, but historically good stocks are still performing well. Technically, I’m hoping SPY reaches for the top of the ascending channel over the next few weeks.
If momentum continues, here are a few stocks i’m watching Monday:
NTES, CTAS, TXN, ANSS, BABA, TECH, TEAM, GDS, PODD, AZPN, RCM
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