Welcome to TheJunior International Hall of Famers.
With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US-listed international stocks, or ADRs.
This scan is composed of the next 100 largest stocks by market cap, those that come after the top 100 and are thus covered by the International Hall of Famers universe.
Many of these names will someday graduate and join our original International Hall Of Famers list. The idea here is to catch these big trends as early on as possible.
Let’s dive right in and check out what these future big boys are up to.
This is our Junior International Hall of Famers list:
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs.
We've also sprinkled in some of the largest ADRs from countries that did not make the market cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It's got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
One of the many amazing things about public markets is that price is the final arbiter of truth.
They come to you with a credit crisis that will be here any day now. The fairy tales about recessions won't stop. The president will ruin everything. And a war in the middle east is something they pretend is only happening now, and isn't always happening...
Yet the line keeps going up.
The Dow Jones Industrial Average, S&P500 (equally-weighted), New York Stock Exchange Composite and many other measures of U.S. equities are hitting new all-time highs.
More importantly, the list of stocks going up in price keeps getting longer, not shorter.
The number of sectors and industry groups participating to the upside continues to increase, not decrease.
More countries around the world are going up in price, not fewer.
The lines are up and to the right fam.
And this chart below just might be the best way I've seen to measure that yes, in fact, the lines are going up.
What we're doing here is looking at the % of stocks in the S&P500 that are above important prior highs from the past several cycles.
Here's this week's crypto roundup. It's an opportunity for us to take a step back, set aside the distractions, and delve into the key charts shaping the crypto complex.
Recently, I've flipped to a higher conviction bullish view. I'm of the belief this last leg lower purged a great deal of longs from the futures market, of which provides us fertile grounds to build a new trend.
In the short-term, I still think the crypto market will be messier for longer even as Bitcoin rallies to new highs.
Ethereum and the S&P 500 are both running up to a logical level of resistance.
Investors continue to be rewarded for owning Real Estate stocks.
Over 90% of Real Estate stocks in the S&P 500 are above their 50-day and 200-day moving averages.
Earlier this month, we wrote about the best setups in the Real Estate Sector, and 9 out of the 10 trade ideas have been profitable.
The market's message could not be clearer... buy more real estate!
Because of this, we were extra excited about a new name on our Freshly Squeezed list this week.
Short sellers have piled into Douglas Emmett $DEI, a $2.7B Office REIT company, and we're betting they're about to be forced to unwind their positions, causing an epic squeeze.
Before we get into it, let's talk about what we're doing here.
Our scan is quite simple. It is designed to identify stocks with the most aggressive short positions.
When a stock is shorted, it means incremental buyers are waiting in the wings to close out their bearish bets.
We love this, as new buyers are the one true catalyst for higher prices.
Hey everyone. If you caught our livestream this afternoon at the close, you saw the earnings trade I put on for $NVDA using options.
If you didn't watch us live, then you missed the trade, and it's too late now. No biggie. You can skip the rest of the note.
If you did watch, and either you're watching from the sidelines and interested in how it plays out, or you did take the trade, read on. We'll discuss how I'm going to handle the exit tomorrow morning.
As a reminder, this afternoon, we put on a put ratio spread (1 x 2) in $NVDA Aug 30 (weekly) options. We sold short one 125 put and purchased two 115 puts for a net credit of $1.15, right at the last minute before the closing bell.
