That's it -- that's the post. There's nothing to discuss.
Bitcoin and the rest of the asset class are still a choppy mess. There's no conviction in taking longs until price action can shape up in a more bullish manner.
Given the lackluster market conditions, this letter will act as yet another brief interim update.
The Outperformers is our custom-made scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for significant moves.
The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.
Wednesday night we held our October Mid-Month Conference Call, which Premium Members can access and rewatch here.
In this post, we’ll do our best to summarize it by highlighting five of the most important charts and/or themes we covered, along with commentary on each
It’s easy to lose sight of how impressive energy has been this year.
We get it. Sideways action is boring.
But while the rest of the market has been selling off, energy has shown incredible resilience, digesting gains in a continuation pattern since early summer.
After an explosive rally for energy stocks off the 2020 lows, it’s normal to experience an extended period of corrective action. In fact, it’s healthy.
Now get this...
Many of these stocks haven’t even broken out yet!
We know it sounds crazy, especially when some of these industry groups have more than tripled during the trailing 24 months.
But the charts don’t lie. They’re telling us some of these trends might just be getting started. Let’s take a look.
We can break down oil and gas companies into three main categories: upstream, midstream, and downstream.