I like buying stocks that are going up. If there is anything that the market has taught us over the past hundred years is that market prices trend. The major averages, individual sectors, stocks, commodities, currencies, interest rates, they all trend. Sometimes these are uptrends that last years or even decades, sometimes they’re downtrends, and sometimes there is no trend and it’s just a sideways mess. Remember, recognizing a lack of trend is just as important as the first two. What I like even more is while a stock is going up the sell side likes it less and less. It’s completely counter intuitive to us who specifically look for trends to follow. They don’t think like us as market participants because they have different motivations. [Read more…]
Announcing Chart Summit January 27th-28th
I’ve been a full time technician for well over a decade. During this time, I’ve been lucky enough to meet and become close friends with some of the best and brightest technicians in the world. I regularly discuss the markets with them over email as well as the various conferences and speaking engagements that we all attend. We have spirited debates over what the market is going to do next, who has the better process for identifying opportunities and who nailed or missed the most recent big move. Without fail, I learn something new every time I have these types of discussions. So it got me thinking, and I realized that other traders and investors around the world would love to be a fly on the wall for these conversations and learn some new things too. It’s been my goal for the past year to make this a reality, and that day has finally come. [Read more…]
[Chart Of The Week] Is General Electric Ready For Its Next Leg Higher?
One of the more impressive moves that we’ve seen in 2016 is in the Industrial space. While we came into the year near multi-year lows on a relative basis (XLI/SPY), we entered December hitting new all-time highs relative to the S&P500. You want to talk about a dramatic change in relative strength? This is something we take very seriously, and definitely not something to ignore. We also want to keep in mind is that this relative strength started well before any election, US or otherwise. This got going in January.
Today we’re taking a look at the largest component in the Industrial sector: General Electric $GE, a stock that broke out earlier this year above a downtrend line from the all-time highs in 2000 and is still 30% below the 2007 highs. I think this is where we want to be looking: [Read more…]
[Premium] Monthly Conference Call Video Recording December 2016
Here is the video recording of the December 2016 Monthly Conference Call for Members Only
In the call we discuss:
- Major U.S. Indexes – October Conference Call vs Today
- Sentiment, Breadth & Seasonality US On Stocks
- US Sectors Relative Strength
- The US Dollar Dilemma
- International Indexes Breaking Out
- US Interest Rates
- When Do We Buy Bonds?
- Q&A
The Irrelevance Of Dow 20,000
Most of us are here to try and make money in the market. Some others are just here to make noise and create content they think will help them drive traffic to sell ads. The importance of the Dow Jones Industrial Average hitting 20,000 is one of the biggest lies of the year. I’m lucky to be good friends with some of the smartest traders and analysts in the world. We email each other all the time privately to share ideas and discuss some of the things we’re seeing out there. If there is something worth watching, I’m likely to get an email about it, or at least be included in an email discussion on the topic. So far, zero mention of this arbitrary 20,000 level, but double digit emails from media asking me what I think. See the difference? [Read more…]
[Premium] Weekly Open Letter About The Current Market Environment
In this week’s members-only letter we discuss the following topics:
- Theme Of US Sectors with Short-term Targets Hit But Bigger Uptrends Still Place
- What Does This Strength In Financials Mean Going Forward?
- Now That We’re Getting New Highs In The Averages, What Is Breadth Suggesting?
- The US Dollar Dilemma: Breakout or Fakeout?
- Bitcoin Is Still Making New Highs. How High Can It Go?
- My Favorite Tech Stocks To Own Right Now
- How To Profit From These Breakouts In Europe
- When Do We Buy US Treasury Bonds?
[Premium] Members-Only Conference Call Wednesday December 14th at 7PM ET
Every month I host a conference call for All Star Charts Members where we discuss ongoing themes throughout the global marketplace as well as changes in trends where new positions would be most appropriate. This includes U.S. Stocks & Sectors, International Stock Indexes, Commodities, Currencies and Interest Rate Markets. Transportation stocks have been a huge winner for us and we’ll be discussing the sectors and assets that I think can behave in a similar manner in the coming weeks and months.
This month’s Conference Call will be held on Wednesday December 14, 2016 at 7PM ET. Here are the Registration Details: [Read more…]
[Chart Of The Week] Is This US Dollar Breakout The Real Thing?
I like to keep an open mind. The one thing I’m certain of is that I’m not certain of anything. So I weigh all of the evidence and then try to find the best risk vs reward opportunities based on the cards that we’ve been dealt. We can’t let our emotions impact our decision making, it has to be 100% dependent on the data at hand. Today, I think one of the more interesting situations is in the US Dollar Index. [Read more…]
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