The Twitter-and-Elon Musk saga has finally come to an end, as the eccentric billionaire has completed a $44 billion acquisition of the struggling social media company.
The stock will be delisted from the New York Stock Exchange today.
Expert technical analysis of financial markets by JC Parets
by David
The Twitter-and-Elon Musk saga has finally come to an end, as the eccentric billionaire has completed a $44 billion acquisition of the struggling social media company.
The stock will be delisted from the New York Stock Exchange today.
by JC
There are stocks going up and there are stocks going down.
I’m old enough to remember when we would all call that normal.
The going up category just got longer recently. Remember Energy had been the only Sector Index above its 200 day moving average.
Healthcare is now also on that list.
Industrials and Consumer Staples are the next closest ones.
This morning we talked about how poorly the Tech heavy Emerging Markets were doing vs those like Brazil, Saudi Arabia and Indonesia, that have a much different composition.
The difference in performance is off the charts.
There are big winners and big losers.
Another big loser driving headlines is in Large-cap Growth. Stocks like Google and Facebook got crushed after earnings. And now Amazon is joining that list after the bell Thursday.
But that’s specifically Large-cap Growth.
Small-cap Growth, on the other hand, is holding up way better.
You can see here how Small-cap Growth is hitting the highest levels of the year relative to Large-cap Growth: [Read more…]
by David
From the Desk of Kimmy Sokoloff
The market took a healthy pause today, and the $SPX held onto 3,800 support. The next level of support is 3,772.
So far this week, the market has shrugged off bad tech earnings. Let’s see what $AAPL and $AMZN bring us tonight.
We’ll also see if the $SPY holds onto 380 and then 378. If not we have room down to 376.55.
by JC
You certainly see it in life – the losers usually continue to lose. And winners win.
It’s the same thing in the stock market. Winners tend to keep on winning, and the losers remain losers for a reason.
With the whole ESG scam unraveling over the past couple of years, the market has voted with their dollars.
That’s what pays.
Not cute bed time stories. Actual Dollars.
Forget the narratives. I want to know what investors are ACTUALLY doing.
And as we have documented here consistently, the voting dollars are being used to buy Energy.
But I continue to be impressed with the strength in Energy stocks, despite the correction we’ve seen in Crude Oil Futures.
Look at that relative strength: [Read more…]
by David
From the Desk of Kimmy Sokoloff
Yesterday, the $SPX pushed its way through the 50-day moving average at 3,860, then reversed course to close below it.
I mentioned this is a resistance level where the market might need a breather.
by David
We got a new Form 13D from our favorite corporate raider yesterday, as Carl Icahn revealed an increased ownership stake in Southwest Gas $SWX.
Icahn now owns 9.8% of outstanding shares, a very slight uptick from the 9.7% he reported on September 7.
[Read more…]
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.
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
Tech did not lead the way higher.
And the indices still chugged along.