It's hard to ignore the fact that some of the worst stocks on the planet are near old support levels.
One group that stands out for sure are the Marijuana stocks. We've seen a ton of activity from C-suite executives buying their own company's stocks recently. And not just exercising options, but going out in the open market and buying the stock just like you or I would.
Look at the Alternative Harvest Index Fund all the way down to those former lows from early 2020:
We've been joking internally that the new highs list is a lot longer when you include ADRs.
As US stocks come under increasing pressure and the rotation into value becomes more pronounced, international stocks are garnering some well-deserved attention.
We also have a bi-weekly scan where we focus exclusively on the largest ADRs, which are just foreign companies listed on US exchanges. It's called the International Hall of Famers, and you can check it out here.
The only problem with it is that a lot of the cyclical stocks that are showing leadership have smaller market capitalizations, and our universe is focused only on large caps.
As such, we thought we'd run a scan to identify some of the strongest international stocks between a market cap of $1B and $35B.
Our Hall of Famers list is composed of the 150 largest US-based stocks.
These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.
It has all the big names and more.
It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that, which you can check out here.
The Hall of Famers is simple.
We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.
Let’s dive right in and check out what these big boys are up to.
On today's episode I sit down with Financial Advisor Stephen Weitzel. Stephen and I have known each other for many years. We're both big fans of Technical Analysis, good food and college football. So this was a lot of fun!
Stephen walks us through his journey of first becoming a Financial Advisor, how helpful Technical Analysis has been for his practice and the journey towards $1 Billion in assets.
I've had a front row seat to Stephen's growth, both as a business owner and as a Technician. It's been really cool to see and I'm going to keep rooting for him and his team.
I always like to get different perspectives on the podcast, and I think this conversation is a great compliment to a lot of the other episodes we've done over the years.
This month marks the one year anniversary of the top in stocks.
And more specifically, I mean the top in the internals of the U.S. Stock Market. Remember, that's the best things were, and it's been a painful deterioration ever since, particularly for most U.S. Index Fund investors, growth investors and most individual U.S. stock pickers.
The new highs list these days is loaded up with ADRs, Metals stocks, Staples and Energy. Most of the other stocks have been struggling. Not all of them are down, but many are sideways at best.
This chart really tells the story of what's been going on. We discussed it on Tuesday night's call:
The market hasn't been easy off late and a sideways move means that market participants get trapped more often than not. Today we have a trade setup from the Chemicals that has some eyeballs on it. We thought this might be a good time to check it out.