The big news of the day is centered around an SEC filing by the wealthiest man in the world.
This morning, Elon Musk disclosed a 9.2% ownership stake in Twitter $TWTR in a 13G filing. Musk has amassed roughly 73.5 million shares for a value of almost $3 billion.
According to the filing, Musk has been buying since the middle of March.
Today we sit down and chat with Professional Trader Kimmy Sokoloff.
I'm lucky to have known Kimmy for well over a decade, and we hit it off from the start.
Kimmy went through the CMT program in the 90s. And funny enough, volunteered later on with the CMT Association to grade Level 3 exams, which are mostly essays. We joke that she most likely graded mine in 2007-2008.
While I like to look out weeks and months for my timeframes, Kimmy focuses specifically on the hours and days. A 2 week trade for her is "Long-term".
We're both trained in similar ways, as CMT Charter holders. But our experiences are different.
Kimmy spent most of her career in Institutional Sales and Trading. She spent decades on the phones all day with huge funds.
So when Kimmy has something to say, we want to listen. I hope you enjoy this as much as I did.
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs. We’ve also sprinkled in some of the largest ADRs from countries that did not make the market cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It’s got all the big names and more--but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
Let’s dive in and take a look at some of the most important stocks from around the world.
For this week's trade, we're putting on a $CCJ September 30/40 Bull Call Spread for an approximately $2.20 debit. This means we're long the 30 calls and short an equal amount of 40 calls for a net debit which represents the most we can lose in this trade.
Get the full details, risk management procedures and targets for this trade here:
We begin today’s discussion with a special situation that took shape this week.
At the end of the day, what we’re trying to do here is create a universe of stocks that are experiencing bullish activity from investors who have better information than the rest of us.
Typically, this information comes to us in the form of SEC filings, options flow, or through congressional reporting. But that’s not always the case!
We're at a point where the Adani Solar System constituents get another upgrade (well, wherever applicable).
Are you invested in the Adani group stocks? Then this would be a good post for you.
The Adani Group Solar System has been one of the most talked-about posts here at ASC and one can see why! For the most part, we keep upgrading the targets unless the trend suggests otherwise. It's true that not all stocks are outperformers, but the ones that are, are doing pretty great.
So let's take a look at where these stocks stand today.
First up, we have the ASC Adani Group Index. A quick peek at this and you see a resistance around the corner. So the move that we're witnessing now could take a break. This is an absolutely logical place for that to happen.
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.
We debuted a new scan recently which goes by the name- All Star Momentum.
All Star Momentum is a brand new scan that guides us towards the very best stocks in the market. This time around, we have incorporated our stock universe of Nifty 500 as the base. Among the 500 stocks that we follow, this scan will pump out names that are most likely to outperform the market.
Over the past half-decade or so, we've seen the US Dollar Index maintain a very high negative correlation with risk assets.
When stocks are doing well, the Dollar has normally been under pressure. And when stocks have struggled, as most of them have over the past year, the US Dollar has kept a bid.
Look how poorly the Dollar did when stocks ripped in 2020 off those pandemic lows. And then look at the strength in the Dollar over the last year as most stocks have struggled:
