Stock Market News: Stock Market Review, Sept 17th, 2019
Hectic week ahead
Last week, things continues to be improving.
After china removes some items from the latest tariff, Trump delayed tariff.
On top of that, China bought a significantly large amount of soybean too.
Last week pick updates
Our Pick for 9th Sept 2019
- YETI, long
YETI is a breakeven. It dropped on Monday, hitting our entry and hang above our Stoploss.
On Thursday, it shoots up, and this is where we protected our position.
At the time of writing, things are getting very mixed.
On a technical perspective, market is testing all-time high and were very much poised to breakout with the development of trade deal.
However, all things went haywire after the weekend attack on Saudi Arabia oil field.
The attack had stirred up worries about a slowing economy with a rising oil price.
Although we do not think the oil price going to stay high for long, this will create some short term impact.
This week, Fed will also be announcing the latest rate, which adds more volatility into the market.
We will need to see how the market reacts to this. We see this potential pullback to be a buying the dip chance.
We are going long, with larger than normal stop loss range.
For lower risk-taker, stay away.
Our pick for 16th September 2019
- TNET, long (high-risk pick)
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Till next week,