October 27, 2021

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Tech giants cut Wall Street - E24

Tech giants cut Wall Street – E24

The heavy-duty Nasdaq 100 hasn’t fallen further since May, while the S&P 500 hasn’t closed lower in about a month.

Posted:

This is what Wall Street’s main indices look like at closing time:

  • The S&P 500 fell 0.91 percent
  • Nasdaq fell 0.91%
  • Nasdaq 100 fell 1.18 percent
  • The Dow Jones Industrial Average fell 0.48%

According to Reuters, some of the decline is due to higher interest rates as a result of yesterday’s unexpected rise in retail trade, which prompted investors to withdraw from tea stocks.

Many of the largest tea stocks fell:

  • Facebook fell 2.24 percent
  • Apple stock fell 1.83 percent
  • Microsoft stock fell 1.75 percent
  • Intel shares fell 1.04 percent

However, a “Norwegian” textile company is doing well.

Forgerock, founded in Oslo, closed up 46.4 percent in the first trading day Thursday. On Friday, the stock rose another 29.18 percent.

weak day in history

Friday was according to CNBC An important day in the US stock market as the last third of September is historically the worst period of the month.

The S&P 500 often peaked on today’s date, September 17th, before easing back beyond September.

CNBC He also wrote that there may be additional volatility in the last day’s auction because it’s called “the magic of the quad,” which involves the expiration of many options against stocks and indices, as well as futures against both.

Everyone who hedges something should roll in their positions. It could create a little extra volume in the US, says hedge fund manager Karl Oscar Strom at Paleo Capital to E24.

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Shortly after the stock market opened, key numbers show that US consumer confidence is on the rise, but slightly less than expected. The Michigan index rose to 71 in September, while an advance of 72 was expected.

The focus among investors is also on the Federal Reserve meeting next week, where it is considered whether more strong economic numbers this week could lead to the central bank shortening the schedule to reduce support for the economy.

– It is not very easy to trade

The market is not that wide now. It’s not that everything goes up or down. Strom says in Paleo it’s a “stock picker market,” where you have to pick a number of individual stocks or sectors that look stronger.

He thinks the stock market today is somewhat similar to what we saw in the years after the 2008 financial crisis, when there was a strong stimulus, which had to be downgraded again.

– It’s not a clear “bear market”. It is more directionless due to continuous reinforcement, as height must be accommodated. For example, the Russell 2000 index has been sidelined in the US for eight months.

“Bear market” refers to a falling stock market, while a “bullish market” is rising.

– Trading is not very easy, and the numbers are not unequivocally positive. Some ports work very well, Strom says, and others are a bit regressive.

Heidegger: Director Karl Oscar Strom recently left the brokerage firm Pareto to start his own hedge fund, Paleo Capital.

Semiconductor and cyber security dealer

Strom believes that some of the tea spoons are among the most interesting on the market today.

– One segment that I buy a little for the box is semiconductor or “semiconductor”. We have an interesting Norwegian company, Nordic Semiconductors, but I do a little shopping abroad, too,” Strom says.

The shortage of semiconductors, which are essential components of modern technology, has caused problems for a number of industries in recent times, including the automobile industry.

Nvidia’s share was very strong. Strom says Taiwan Semiconductor has been sidelined for some time, so it’s not the hottest.

– Perhaps what I follow most closely is ASML from the Netherlands, which makes advanced machines that print microchip devices. It is the largest textile company in Europe now.

Taiwan is big on semiconductors, but China, the European Union, and the United States all want to make more. Then you can make big money selling equipment, just like during the gold rush.

At the close on Wall Street, Nvidia was down 1.54 percent, Taiwan Semiconductor was down 2.52 percent, and ASML was down 3.11 percent.

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Cybersecurity is another sector that energy is watching.

In the United States, many large companies have their own cybersecurity divisions, but there are also many small and medium-sized businesses. Some also work with the third trend, the “cloud” or cloud solutions. He says the companies inside both go and go.

Strom’s philosophy is to be “light on his toes”.

– Like yesterday, when the market fell, I bought. There is no point in being like other funds. So I want my big stuff to be in liquid stuff, so I can move quickly.

Uses sliding cuts

Strength is known for using a great deal of technical analysis to choose the right time to buy and sell.

I use a lot of technical analysis and moving sections, but you should always have a basic understanding of the narrative or story in the market so you know where people’s focus is.

A moving average is a trend indicator that shows whether the price development over time is negative or positive, but it can also be used to find technical support and opponents in a stock price.

– I follow this because many do it. There are a number of large organizations that manage risk after 50- and 100-day especially 200 days on average.

He himself often uses 50 and 100 day moving averages as an indicator of risk.

If you had exited your position when the S&P 500 fell below 50, you could have avoided nearly all major corrections, including the crash in 1987, says Strom.

– If you have a lot of positions, and you do not want to join the valley of the wave, you can sell when it drops below the average. If you want to buy more, you can wait until there is a small dip below, and buy when it reverses. The manager explains that the rhythm of the market is choppy, a bit like waves in and out towards shore.