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2022 is the opposite of 2017

June 22, 2022

Do you remember 2017?

The memes going around those days were about how many days it had been since the S&P500 fell by over 1%.

Volatility was non-existent.

And this was hilarious to me, of course, living in California at the time and people freaking out about the Trump victory at the end of 2016.

With sentiment down in the dumps entering 2017, that sparked one of the greatest return / least volatile years on record.

In fact, 2017 had only 8 trading days on which the S&P500 was +/- 1%.

Every month so far this year has had at least that many:

All Star Charts Premium, 2 to 100 Club

2 to 100 Club (06-22-2022)

June 22, 2022

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.

Buy Their Pain?

June 22, 2022

From the desk of Louis Sykes @haumicharts

There's a lot of pain out there.

It's not just retail. Some of the most sophisticated crypto funds on the planet are blowing up. Lives are getting destroyed.

But here's a quick reminder: The best trades come when others are forced to exit and are at their lowest points.

Is it a nice way to make a living?

No. But you have to deal with it. Otherwise, you end up being on the wrong side.

The ETF providers in their infinite wisdom seem to be feeding on this sentiment, with the first short Bitcoin ETF being launched in the US this week. This feels awfully reminiscent of October, when the first Bitcoin futures ETF was launched.

Weeks after, the market put in its last top.

[PLUS] Weekly Sentiment Report

June 22, 2022

From the desk of Willie Delwiche.

Key Takeaway: More and more distribution patterns are resolving lower as bearish price action runs rampant across all major assets classes. Even the leadership groups such as commodities experience selling pressure as pessimism grows. Yet, while investors have expressed concern, they have not done much about it. Equity funds continue to attract inflows ($200+ billion YTD, according to DB) and households are hardly flush with liquidity. Perhaps it will take a second quarter in a row of being told not to look at their retirement account statements to prompt some investor action.

Sentiment Report Chart of the Week: Copper Looks Tarnished 

[Options] Finding Strength in Chinese Internet

June 22, 2022

There is probably a certain segment of the investing population that would look askance at me if I mentioned we're seeing "strength in China." They wouldn't believe that is possible. According to the news media they consume, China is "a mess." Perhaps that is true? But we only follow price here at our shop, and price is beginning to tell a different story.

Today's trade idea comes from TWO seemingly unlikely places: China and Internet! (what??????)

And when you see this chart of the Chinese Internet ETF $KWEB, you'll see why:

Filings Reveal Bullish Moves in Multiple Sectors

June 22, 2022

SkyKnight Capital Fund disclosed the purchase of approximately $1.6 million worth of shares in the home medical equipment company AdaptHealth Corp $AHCO, as it continues to build a position in the stock.

The fund now owns 8,906,070 shares, which represents a roughly 6.15% ownership stake in the medical devices company.

All Star Charts Crypto

Eyeing ETHBTC

June 22, 2022

As technicians, we tell it as it is.

By focusing the vast majority of our research on price action, we're simply following money flow. We hate to sound like a broken clock, but if you're following something other than money flow, it's just noise.

Ignore it.

Money flow is by definition the only driver that impacts markets. That spans from price action, derivatives data, order flow, and, in the case of cryptocurrencies, on-chain.

Apart from that, all else is noise.

In this process, we typically have a rather binary view of markets.

"Above this level, we own it. Below there, we leave it alone."

We constantly say this for a reason.

We're not trying to be obnoxious in repeating itself. We are quite literally adjusting our thoughts based on money flow.

"Strong opinions, weakly held," as they say.

 

 

[Premium] Trade Of The Week

June 22, 2022

The market correction has extended over the past few weeks and the negative sentiment build-up is definitely not something that will fade away quickly. As more and more sectors move below their support zones, buy ideas are hard to come by. Today we're sharing a short idea from the financial services sector.