From the Desk of Kimmy Sokoloff
As far as earnings go, $AMZN and $GOOGL for Big Tech were the weak links.
$QQQ is almost at its peak price.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
As far as earnings go, $AMZN and $GOOGL for Big Tech were the weak links.
$QQQ is almost at its peak price.
by David
From the Desk of Kimmy Sokoloff
That was a stick save by $META, and now we have $AMZN tonight.
$QQQ came back above the 316 level I’ve been talking about inside the live trading room.
The next new position in our Paid-to-Play portfolio is: [Read more…]
by David
From the Desk of Kimmy Sokoloff
If you look under the hood, overall this market is weak.
Without Big Tech, there really isn’t too much to talk about, except maybe commodities.
From the Desk of Steve Strazza @Sstrazza
Welcome to the 2 to 100 Club.
As many of you know, something we’ve been working on internally is using various bottom-up tools and scans to complement our top-down approach. It’s really been working for us!
One way we’re doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).
Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.
But the scan doesn’t just end there.
We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table, you’ll notice we’re only focused on Technology and Growth industry groups such as Software, Semiconductors, Online Retail, Solar, etc.
Then, like any good technician, we filter the list down to those closest to new highs.
This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
by David
From the Desk of Kimmy Sokoloff
Every day last week the market would dip in the morning and rally in the afternoon.
This week has been the opposite: We’ve been grinding lower in the afternoons.
This week will be an opportunity for me to practice the art of giving up control. It will also be an incredible opportunity to practice acceptance and patience.
The market is open and I’m typing this piece while traveling 30,000 feet above Midwestern corn fields en route to New York City.
Thankfully, I’ve got internet access on the plane and can keep tabs on the market and my positions. But it’s not perfect. Anyone who’s tried to work with airplane WiFi knows it isn’t always as reliable as we’d like it to be.
I’m headed to NYC to reconnect with the All Star Charts team, celebrate our friend Brian Shannon in honor of his recent book release, and attend the Chartered Market Technician’s 50th Annual Symposium.
All week, I’ll be gathering with some of the smartest market minds, driven traders, and portfolio managers around. I’m hoping to sponge as much great content and smart ideas as I can possibly cram into my cranium.
The challenge for me will be in managing my open positions — particularly my highly active index options trading. [Read more…]
by JC
These are the registration details for our Live Monthly Candlestick Strategy Session for Premium Members of All Star Charts.
This month’s Video Conference Call will be held on Monday May 1st @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.
Here are the details for Monday evening: [Read more…]