Nasdaq Rally + Euphoria Knows No Bounds
Nasdaq is blowing the roof off this joint and I wish that when you clicked on this post to read, that I could have had Prince singing his infamous “1999” song. It would have been a nice touch and really brought the point home that I’m trying to make.
Yes, we are in a mode that we haven’t seen since 1999, yes valuations are similar, but is it different this time?
No. It is not different this time, it never is different.
But that doesn’t mean that you freak out and sell everything and get out of the market. There will be a time for shorting the market and shorting it hard, but right now is clearly not that time. Right now, you ride the trend. Right now, you keep buying. When the market acts like it can’t go higher, you start curbing your long exposure, eventually you start adding some short positions, and finally you find your self-net short on the market and riding the market lower.
But that isn’t happening right now, and if you try to force it, you’ll only lose money. The market doesn’t care about you, doesn’t care about your opinion.
Do what it does, and you’ll be just fine.
S&P 500 Chart
Current Stock Trading Portfolio Balance:
6 Long positions
Recent Stock Trade Notables:
Teradyne (TER): Long at 31.16, closed at 33.03 for a 6.0% profit
UPRO: Long at 92.75, closed at 94.78 for a 2.2% profit.
Murphy Oil (MUR): Long at 28.69, closed at 27.89 for a 2.7% loss.
Las Vegas Sands (LVS): Long at 57.24, closed at 56.53 for a 1.2% loss.
UPRO: Long at 91.94, closed at 96.54 for a 5.0% profit.
Alibaba Group (BABA): Long at 105.736, closed at 108.22 for a 2.4% profit.
Facebook (FB): Long at 134.27, Closed at 139.23 for a 3.7% profit.
CDW Corp (CDW): Long at 58.65, closed at 58.91 for a 2.7% loss.
Redhat (RHT): Long at 82.41, Closed at 83.53 for a 1.4% profit.
Ambarella (AMBA): Long at 57.15, Closed at 55.52 for a 2.8% loss.
Alibaba Group (BABA): Long at 104.73, closed at 106.05 for a 1.3% profit.
Broadcom (AVGO): Long at 218.63, Closed at 222.71 for a 1.9% profit.
American Airlines (AAL): Short at 44.76, Closed at 44.03 for a 1.6% profit.
UPRO (Day-Tade): Long at 95.35, closed at 96.50 for a 1.2% profit.
OZRK: Long at $56.12, closed at $54.69 for a 2.5% loss.
FNSR: Long at $34.25, closed at 34.70 for a 1.3% profit.
UPRO (Day-Tade): Long at 96.92, closed at 98.03 for a 1.2% profit.
JP Morgan Chase (JPM): Long at 87.21, closed at 89.67 for a 2.8% profit.
Chevron (CVX): Short at 110.03, covered at 111.85 for a 1.6% loss.
Flex Technologies (FLEX): Long at $15.62, closed at $16.57 for a 6.1% profit.
Baidu (BIDU): Long at $174.70, closed at $187.00 for a 7.0% profit.
Ollie’s Bargain Outlet: Long at 33.20, closed at $32.50 for a 2.1% loss.
Corning (GLW): Long at $26.98, closed at $27.45 for a 1.7% profit.
Illinois Tool Works (ITW): Long at $127.74, closed at $129.86 for a 1.7% profit.
Marriott Int’l (MAR): Long at $86.16, closed at $87.51 for a 1.6% profit.
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