From the Desk of Kimmy Sokoloff
Tech pushed higher yesterday.
Let’s see if we have follow-through today.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Tech pushed higher yesterday.
Let’s see if we have follow-through today.
by David
From the Desk of Kimmy Sokoloff
The market’s been in consolidation mode, and that continued today — except for the typical $AAPL/$AMZN/$GOOGL/$MSFT rally.
$SPY and $QQQ reclaimed their eight-day moving averages.
by David
The most significant transaction on today’s list comes in a 13G filing by Ecor1 Capital.
Ecor1 raised its ownership stake in Zymeworks Inc $ZYME from 11.80% to 19.90%.
by David
From the Desk of Kimmy Sokoloff
As I write, $SPY and $QQQ are below their respective eight-day moving averages.
They could potentially be heading down to their 21-day moving averages, which is roughly 429 on SPY and 354 on QQQ.
From the desk of Steve Strazza @Sstrazza
Welcome to the 2 to 100 Club.
Something we’ve been working on internally is using various bottoms-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.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table, you’ll notice we’re only focused on Technology and Growth industry groups such as Software, Semiconductors, Online Retail, Solar, etc.
Then, like any good technician, we filter the list down to those closest to new highs.
This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
by David
From the Desk of Kimmy Sokoloff
The Nasdaq pulled in the most today, with $QQQ dropping down to its eight-day moving average.
Now, this is either a bull flag or we’ll head lower.
by David
This is the video recording of the June 21, 2023, Hot Corner Insider Weekly Strategy Session.
by David
The most significant transaction on today’s list comes in a Form 4 filing by Matrix Capital Management.
The hedge fund reported the acquisition of 4,760,000 shares, equivalent to $107.8 million, in the small-cap biotech company Zentalis Pharmaceuticals, Inc $ZNTL.