Welcome to Momentum Monday.
Just as things were looking like a nice settled week, BOOM out comes Nvidia's result. It smashed estimates. It drives the market to an all time high, and it achieved the largest single gain in market cap every recorded. All this from a company who was overvalued…. So is it overvalued now? Does it matter if you picked it based on squiggly lines? It's heading north east, which is the right direction after all. And to be honest…. I am getting sick of answering the question.
For your reference, my cryptic response always is, “If you know why you get in, you’ll know when you have to get out.” The reality is not enough people are honest with themselves to answer truthfully.
Interesting links
Weekend Watchlist with Shares for Beginners this week is an education on how being forearmend is forewarned. We use the example of Core Lithium (ASX:CXO). Listen here to the replay
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This week’s content is as follows:
Broader market sentiment
Member corner
Stocks in the “Shine Zone” (including changes)
Buses pulling out of the station (volume + price movers)
52 week high screen (including changes)
A reminder that you don’t have to read all this contribution. Simply scroll to the area of interest.
Broader Market Sentiment
We look at the direction of both the US and ASX markets to gain an understanding of the broader sentiment at the minute. It is important to stress here that I DO NOT use this to time my entry or exit out of stocks. I prefer to use the individual charts of stocks to do that. However I find it useful in helping us determine how aggressive/cautious traders should be in their trading. In short the more positive the broader market is the more risks you can take and vice versa.
US / S&P500
Its another record high for the broad S&P500. What moore can I say? (That is why this section is so short.
S&P500 Weekly chart
I mentioned NVIDIA in the…
