Will the commodity trade come roaring back? If so, we’ve got a play in a metals fabrication stock that we think we’ll outperform to the upside.
This company recently broke out to 6-year highs and has a lot of runway left to reach decade-plus highs.
Expert technical analysis of financial markets by JC Parets
Will the commodity trade come roaring back? If so, we’ve got a play in a metals fabrication stock that we think we’ll outperform to the upside.
This company recently broke out to 6-year highs and has a lot of runway left to reach decade-plus highs.
Every idea that we put on at All Star Charts starts with a technical setup that we like. We are students of price action and that supercedes everything.
It’s nice when our technical analysis lines up with “other” factors that may support our idea, be they fundamental, news, or in this case, insiders and activist activity.
Here’s what our team noticed in an email to ASC subscribers earlier this week:
The most significant insider transaction on today’s list is a Form 4 filing for Pinterest $PINS.
We wrote about PINS on July 15, when Elliott Management announced a large activist stake.
Now that the second quarter blackout period is behind Pinterest, CEO William J. Ready is also buying shares. He just reported a rather sizable $5 million purchase.
We can’t think of many things more bullish than the CEO getting involved following the insider activity from Elliott last week.
CEOs and Activists buying big positions? That has our attention.
Here’s a chart of the setup as we see it: [Read more…]
It’s a big wide world out there. Luckily for us investors in the U.S., we aren’t just limited to trading domestic companies. Often via ADRs, we are able to participate in opportunities in the very best foreign companies and conglomerates.
And right now, there are good opportunities shaping up in if we look overseas at some banking stocks.
Today’s idea comes to us from a $71B Indian bank!
Earlier this week, we got stopped out of Vertex Pharma $VRTX for a manageable loss. It happens. Now today, a vortex is pulling us in the direction of another Vertex — Vertex Energy $VTNR. Crazy, huh?
In the end, stocks are all just ticker symbols with dollar signs attached to them that convey any kind of meaning to us. But nonetheless, what are the odds?
Weird coincidences aside, we’re liking the setup in this energy name so let’s get right to it. [Read more…]
If tech stocks are signaling that a bottom is in, we’re of the mind that we’ll find some significant beta in a badly beaten household name: The recently renamed Meta $META (otherwise known as Facebook…).
Chatting with JC this morning, he was drawing a comparison of META to what Gold Miners $GDX did in 2016:
Tune into our twitter livestream today at around 2:30pm ET to hear JC’s thoughts on this comparison.
If we think a similar scenario has a chance of unfolding for $META. then we’ve got a crafty play in mind to participate.
While I prefer to let stocks prove themselves to me before taking a position, sometimes a situation sets up where the stars are aligning for a low risk bet that makes it worth the effort to get ahead of the crowd.
One such situation has developed in a name discussed recently in our Hall of Famers report.
We’ve experienced a pretty powerful bear market rally on the heels of yesterday’s Federal Reserve interest rates announcement. Whether or not it sticks is anybody’s guess. But one name in the financials space has stood out for its relative lack of participation in the recent rally off the bear market lows.
Stocks like these are the ones we want to leverage into bearish portfolio hedges. So let’s get right to it. [Read more…]
Ok, maybe that title is a little dramatic. I couldn’t help myself. I recently had a conversation with a trader friend who was dunking on Gold Bugs about the lack of income stream from Gold. It’s just a damn rock! he said.
Anyway, I don’t have any strong opinions about Gold either way. I just like to follow price and volatility. And right now, the options market may be offering us a tempting opportunity to collect some premium as the recent gold selloff has spooked the gold bulls a little bit. [Read more…]