From the Desk of Kimmy Sokoloff
Goodbye, August!
That was a tough month, and we’ll see what September brings.
We’ve seen a big two-day move for the indices, and we still have two days before the long weekend for $SPY to hit 453 and 455.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Goodbye, August!
That was a tough month, and we’ll see what September brings.
We’ve seen a big two-day move for the indices, and we still have two days before the long weekend for $SPY to hit 453 and 455.
From the Desk of Steve Strazza @Sstrazza
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
The market started the day in consolidation mode then kept trying to break out.
We can still see the push in $SPY to 453.
by David
This is the video recording of the August 30, 2023, Hot Corner Insider Weekly Strategy Session.
by David
The largest insider transaction on today’s list comes in a Form 4 filed by the CEO of Sirius XM Holdings Inc $SIRI, Jennifer C. Witz.
Witz revealed a purchase of SIRI shares of roughly $1 million.
by David
From the Desk of Kimmy Sokoloff
To all my Floridians out there, be safe.
The indices were up over 1% yesterday.
We’ll see if we rest and pause or head straight to 453 on $SPY.
by JC
The big news dropped yesterday that Grayscale won their case vs the SEC apparently paving the way for a new Bitcoin ETF soon.
Whether any of this is true or not isn’t really our concern.
I couldn’t care less about Grayscale or any of their personal issues.
The “news” is not our problem. What we’re really interested in what is actually happening.
But a 5-6% ripper in Bitcoin yesterday and a near 30% rally in Marathon Digital certainly gets my attention.
First, here is a longer-term look at the structural uptrends in Bitcoin and Ethereum as they both held support from former resistance levels at their prior cycle peaks.
Notice how the buyers stepped in right near those former highs: [Read more…]
by David
From the Desk of Kimmy Sokoloff
That was a very big move for the indices today.
Once $SPY broke out of its resistance zone, this one and the others really jumped.