5/16/2018 Markets post modest gains, and the Russell 2000 index (IWM) breaks-out to a new all time high. I think that WB is still a very good buy at these levels.

Fun Fact #50

Xiaomi, a popular Chinese phone company, recently filed for an IPO (they haven’t gone public yet).  Xiaomi made a loss of 43.9 billion yuan in 2017, but will still be valued at 100 billion.  Read more about Xiaomi’s IPO filing here


 

Market Stocks 5_16_2018.PNG


 

I’ve updated my targets for June 1st, 2018.  As you can see, I’m still bullish since we didn’t close down today.  If stocks were to fall, I think they will go down a lot.  From my “If Wrong” targets, you can see that I would not be a buyer of any of the above stocks (other than WB) due to the relatively low potential upside and large potential downside.  In sum, I am not buying any of the FAANG stocks unless they drop a bit lower, like 5% for example.  

I still like WB at current price levels because the stock is in an uptrend and offers a low risk, high reward trade.   

 

SPY 5_16_2018.PNG

The SPY didn’t close down today, so I am still bullish.  The other indexes also went up quite a bit.  Although I am not buying or adding long positions at these levels, I will continue holding.  

 

NVDA 5_16_2018 Daily.PNG

Nvidia (NVDA) is getting to a price level where it might bounce upwards and hit a new all time high.  Although I’m tempted to buy right now, the current price doesn’t offer a good risk to reward.  Thus, I’m waiting patiently for the price to drop to the 220-230 zone before buying.  I don’t think NVDA will drop that far, but if it does, I’ll be buying with both hands. 🙂  

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