What a day.
The S&P 500 and the Nasdaq Composite were both up more than 5%. The market liked the October CPI data and also what Fed speakers had to say.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
What a day.
The S&P 500 and the Nasdaq Composite were both up more than 5%. The market liked the October CPI data and also what Fed speakers had to say.
by JC
In early October I was invited on to BNN Bloomberg where I was very clear in saying just how AGGRESSIVELY we wanted to be buying stocks.
See here: Buying Stocks & Fading Dollars (10-4-22)
That worked out well for us, and anyone else who was smart enough to follow along.
On Wednesday of this week I was invited back on to follow up on some of those comments.
Why was I so bullish?
Why was I ignoring all the noisemakers?
Because I’m a grown adult.
I don’t need bedtime stories to go to sleep.
The Fed means nothing to my life. And it shouldn’t impact yours either.
Here’s what we’re doing now:
From the desk of Steve Strazza @Sstrazza
We held our November Monthly Strategy Session Monday night. Premium Members can access and rewatch it here.
Non-members can get a quick recap of the call simply by reading this post each month.
By focusing on long-term, monthly charts, the idea is to take a step back and put things into the context of their structural trends. This is easily one of our most valuable exercises as it forces us to put aside the day-to-day noise and simply examine markets from a “big-picture” point of view.
With that as our backdrop, let’s dive right in and discuss three of the most important charts and/or themes from this month’s call.
by David
The largest insider transaction on today’s list was reported in a Form 4 filing by Matthew Jacobson, an independent director of Datadog $DDOG.
Jacobson reported a substantial purchase worth roughly $50 million.
by David
From the Desk of Kimmy Sokoloff
CPI data for September was released on October 13 — the turning point for the market. We trended higher the rest of the month after that news.
Will today’s release of CPI data for October (8:30 a.m. ET) be a turning point where we trend lower? Do we bounce, even temporarily? It’s anybody’s guess.
Welcome to the 2 to 100 Club.
We use various bottom-up tools and scans internally to complement our top-down approach.
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 are only interested in 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 secular growth industries 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
It was a rough one for the market today.
Tomorrow’s release of CPI data for October (8:30 a.m. ET) is dragging on things.
by David
This is the video recording of our November 9, 2022, Inside Scoop Weekly Strategy Session.