Week in Review - Saturday Jan 11th

Rough week for the stock market and for a lot of individual tickers, but my portfolio is holding up well. It helps I’m selectively placing low risk bets on strong stock and that I’m mostly in cash.

In the short term the market is not in good shape. Just yesterday the NASDAQ set a third lower low, and all of the major indexes, $SPY $QQQ $IWM, have a similar look. Midcaps are holding up the best $MDY, but that isn’t pretty either. Until the general market shows some real signs of strength I’m going to remain very defensive.

Our new low makes the correction 5.87% off the high, which is a normal and healthy correction for a bull market, so I’m not concerned here long term. Three thrusts down like this is also typical.

Add in the fact that there are a lot of strong stocks setting up long bases, I’m very optimistic for individual stocks when the downward pressure from the general market is released.

If you’re following me on X I’ve been highlighting a lot of the strongest stocks there.

Buys And Sells For The Week

There’s a bit to report here. I did open a half position of $AZPN on Monday, but sold it Wednesday for break even because the market seemed to be getting weaker and not stronger.

After moving my stop up on $EMBC, I got stopped out for a 4% loss, and I tried my hand with power play $QURE, which didn’t work out either.

So that leaves me holding just $NVDA and $ONON. We will see what the week ahead brings, but I’m going to need to see a real character change from the market before doing any aggressive buying.

I’m going to go ahead and start screening stocks to come up with my short list of strongest stocks heading into next week. When I’m done I’ll send it out to all you email subscribers.

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