TSLA
Tesla
-- 421.060 PLTR
Palantir
-- 80.550 NVDA
NVIDIA
-- 134.700 AMD
Advanced Micro Devices
-- 119.210 OXY
Occidental Petroleum
-- 47.130 
Market Summary 18th August
Market summary 18/8/2023! What happened to the market on Friday?
The markets faced turbulence at the outset, with the Nasdaq 100 dipping by 1%. However, after consecutive sell-offs, buyers stepped in, lessening the drop to a mere 0.13%. Growth stocks, especially $ARK Innovation ETF (ARKK.US)$, have experienced sharp declines, with the latter plunging 22% in August. Individual stocks like $Tesla (TSLA.US)$ suffered as well, erasing its previous gains with a 30% drop from its July peak.
Stocks will inevitably experience fluctuations, and while there was a hint of recovery today, caution is warranted to ensure this isn't merely a temporary uptrend. Indicators such as net highs will guide us in recognizing any substantial trend shifts.
Analyzing the current market dynamics, the downtrend seems to be more prevalent. Overcoming such losses often needs a positive catalyst, which remains absent. Such downturns usually require time to recover, promoting cautious trading. On the brighter side, inflationary concerns are less intense than last year. As inflation subsides and the economy slows, the FED is likely to introduce more supportive measures, potentially ushering in a period of significant gains. Presently, the growth sector has been in a bearish phase since February 2021, leading many to exit due to either losses or sheer exhaustion.
Remembering back to stocks like $Amazon (AMZN.US)$ in 2002, while it seemed a clear choice to buy and hold, by the bear market's end, few were still observing the scene. Consistent strategies and risk management are essential to stay ready and resilient.
Leave me a like if you like the content above!! Are you a trader or Investor? Let me know what kind of investor you are!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Specialise in Growth stocks 🏆
FB: Nigel Chong 庄证评 🌟
Influenced by MM VCP Trading Style & WON CANSLIM 💯
12KFollowers
84Following
30KVisitors
Follow
ConstantinoSakamoto : Investrader xD.
For me to avoid missing out the turning point of economic. Good to have mixtures of long & short term in the portfolio.
Nigel Chong 庄证评 OP ConstantinoSakamoto : So you are trading and investing at the same time? What is the allocation to investment and trading?
lightfoot : I don't support the feds raising finance rates supportive more like decentives slowing growth. Growth Stimulates and consumers are the regulators not Feds.. It is called Supply n Demand and the libs and Foghorn Longhorn Biden screwed the supply side creating a drop in sales across the world. Creating explosive demands. Shipping held up in harbors full of products. How quickly we overlook Biden's left wing communist ideology . it is enough to battle all these Biden windfalls and incompetence. I am beginning to believe Congress should take over all economic policies and someone destroy Executive Powers. We are ridiculous. There is no Govermment management from the neck up from the waist down, yes.
Nigel Chong 庄证评 OP lightfoot : Thanks for you wonderful opinion