Welcome back to Under the Hood, where we'll cover all the action for the two weeks ended April 26, 2024. This report is published bi-weekly, in rotation with The Minor Leaguers.
What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.
We use a variety of sources to generate the list of most popular names.
There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.
Click here for a behind-the-scenes look at our process.
Whether we’re measuring increasing interest based on large institutional purchases, unusual...
Aris Mining $ARMN, a $500M miner based out of Vancouver, CA:
It’s a great-looking chart: price breaking out of a multi-month base, pullback finding support at former resistance, and relative strength suggesting further outperformance in the coming months.
But Tommy didn’t mention any of those bullish data points.
Instead, he shared the fundamental story: Aris Mining is a profitable business run by serial outperformers (common themes valued by legendary investor Rick Rule).
So when a reader emailed me over the weekend asking for profit targets in ARMN, I...
In today's Flow Show, Steve Strazza laid out the case of how both the Nasdaq 100 and Chinese tech stocks (particularly Chinese internet) might be signaling an important rise in speculative appetite which could fuel the next bull run.
Of the names Steve shared, the one that made the most sense to me was JD.com $JD. Check out this chart:
We're looking at the past year in $JD and it feels to us that if this motor gets running, we could target the low 40's with a good thrust which would be new 52-week highs.
Knowing that we might come into some overhead supply at those levels which could check the rise, and also knowing that upside call options are currently sporting some rich premiums, we're going to put both of these observations to our advantage by utilizing a bull call spread.
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 Wednesday 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.
The big takeaway is that I'm not seeing a big reason to do anything from a trading standpoint.
I want to see an expansion in new highs as well as more sustained dollar weakness to have more conviction in adding to my crypto exposure. For now, I think remaining patient and allowing the market setup is the most prudent course of action in the short term.