MaR Sep 22 2020

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Market Report for Sep 22 2020

Be a bull in a bull market and a bear in a bear market

Trade Zones:
CRL
NVCR
TSM

Market Trend:
Up

Market YTD:
Nasdaq Composite +20.1% YTD
S&P 500 +1.6% YTD
Dow Jones Industrial Average -4.9% YTD
Russell 2000 -11.0% YTD

Market Volume:
NYSE Vol: 1.2 bln
Nasdaq Vol: 3.8 bln

New Positions:
Gold @1930

Portfolio % of Return:
Stocks: +414.84
FX & Comms: +

PORT FX Sep 22 2020

PORT Sep 22 2020

Comments:
While we enjoyed a wonderful start to the day at the Peak district, the market had a torrid start to the day with a shakeout. The S&P 500 declined as much as 2.7% intraday but managed to close off the lows at -1.2%. The Nasdaq Composite closed just -0.1% while the Dow Jones Industrial Average closed -1.8%.

We went through the sector rotation at the weekend and could not find and money inflow outside of tech and as we can see, tech was the best performer yesterday, relatively speaking. In fact, our portfolio grew around 50% from Friday even though the markets were negative. Our top 5 performers were CHGG, ZM, CRWD, WORK and NET. Our worst performer was TSLA which was down over 4%.

MSFT is launching a new generation of Xbox consoles in November at the same time as Sony PlayStation 5. Microsoft Corp. MSFT said it plans to acquire ZeniMax Media Inc., for $7.5 bln in cash.

We will look to buy in this market if price can find support around this zone.

Market Sep 22 2020

Lets go trade!