Will September be good or bad for traders?

Here are the market observations for today:

1. There is general consensus based on history: September is not good for stocks.
2. Then there is a warning of slow down in the economy 🙁 General mobility statistics have weakened, full-service restaurant indicators have softened, travel intentions appear to have faded and retail traffic declines (off of 2019 levels) have re-accelerated ~ Goldman Sachs
3. ADP said private payrolls rose just 374,000 in August, well below the Econoday consensus estimate of 500,000. Friday Jobs data now matters. 
4. Even last year, in the face of a huge rally off the March 2020 lows, we saw a nearly 10% correction in the middle of September ~ Ryan Detrick
5. Never trade based on feelings. Nobody knows what lies ahead. Who would have thought that August would turn out like this?
6. Speculative growth stocks have made a big comeback. Three momentum stocks I am following: 1. ANY; 2. PLXW and 3. BBIG.
7. Vinco Ventures BBIG –  A rally to resistance or a new high? It was a great momentum stock to add at 7.2. The big question – When to get out.
8. The next meme momentum stock to follow: CIDM. A breakout > 2.2 can take the stock higher like crazy. Should one buy in anticipation of a breakout?
9. There has been an oversold bounce in Chinese Internet stocks recently. This is KWEB ETF up 20% over the last 10 days.
10. The rally in Chinese tech stock is helping Coupang, CPNG, South Korean internet play to recover from lows. 
11. It’s heartening to see that Blackberry is making a consistent upmove this time. This has been one of my recommendations.
12. It seems the regulator is not happy with Wells Fargo and warns of more sanctions. When the market is edgy, a hint of bad news, and stocks collapse like this. 
13. Abbvie a stock that hits all the checkboxes on valuations – low PE and high dividend yield – is falling dramatically today. Should you buy it? Nope till we know why.
14. Stocks aren’t tickers on a screen; they’re businesses. What they do matters. In the era of meme stocks, people forget this.
15. Fundamentally strong stocks are great buys at 200 dma. This logic makes Himax Tech a strong buy. It is one of the cheapest stocks in the semiconductor space on valuations.
16. Why the market is excited about BeyondSpring BYSI? It has a drug that can have a profound impact on cancer treatment. The drug plinabulin protects white blood cells from chemotherapy. It seems I got excited at the wrong price 🙁
17. When a stock with a good fundamental story breaches a resistance, then it becomes a buy. I recommended Novavax in August and there was stomach-churning volatility but today it seems set for a fresh breakout above 260. A close > 260 would be a fresh buy. Novavax is one of the cheapest biotech stocks around. Once it attains momentum, the upside can be huge.
18. Salesforce has resumed the uptrend after filling the gap
19. Amarin AMRN has given up all the gains. Will the stock find support here?
20. Apple stock continues to inch higher on news that smartwatch will become smarter with new features like monitoring blood pressure.
21. “In trading, you have to be defensive and aggressive at the same time. If you are not aggressive, you are not going to make money, and if you are not defensive, you are not going to keep the money.” -Ray Dalio.

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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purposes. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers