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NVDA Earnings 1 Week Away

August 21, 2024

We're just one week away from the earnings report for one of the most important companies in the world.

We will be LIVE Streaming the earnings call and trading any opportunities that may come from the volatility after the earnings release.

This Live Trading Stream will be on Wednesday August 28th @ 3:45PM ET

No Correction without Stocks Falling in Price

August 20, 2024

I find myself saying this a lot these days....

But again, Mathematically, you cannot have a bear market, or a correction of any kind, without the prices of stocks falling.

And so if we know that, then shouldn't we monitor how many stocks are actually falling in price?

This is just common sense isn't it?

Well, where are the new lows?

They're non-existent...

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Under The Hood (08-19-2024)

August 20, 2024

From the Desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the two weeks ended August 16, 2024. This report is published bi-weekly, in rotation with The Minor Leaguers.

What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.

We use a variety of sources to generate the list of most popular names.

There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.

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International Hall of Famers (08-16-2024)

August 16, 2024

From the desk of Steve Strazza @Sstrazza

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.

Here's this week's list:

It's Not Just Tech - Look at Canada eh!

August 15, 2024

Toronto is such a great town.

I hadn't been here since 2019.

It's fun seeing all the ADRs in the wild - Bank of Montreal $BMO, Canadian Pacific $CP, Royal Bank of Canada $RBC and so many others!

Also, the conversations I'm overhearing in the hotel lobby have been about the S&P500 and earnings. You don't hear talk like that in many other cities.

It's not surprising, as we all know Toronto is a big financial hub for Canada. But it's reassuring to experience it and watch it thrive.

The TSX is hitting new all-time highs eh!

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2 to 100 Club (08-14-2024)

August 14, 2024

From the Desk of Steve Strazza @Sstrazza

Welcome to The 2 to 100 Club.

In this scan, we look to identify 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.

Big Changes In Sentiment

August 14, 2024

We use sentiment to help put the behavior of the stock market into context.

When looking at markets, it's easy to see what stocks are doing. All you have to do is look.

But what are people thinking? That's what we want to know.

When everyone is bullish, it's hard for stocks to go up in price at the same rate. When everyone turns bearish, that's historically a great time to be putting money to work.

Coming into August, sentiment was running hot. The VIX was at 10, the put/call ratio was muted, newsletter writers were giving us some of their most bullish readings of all-time, and our sentiment composite was as complacent as it's ever been.

Boy did that change quickly.

We just saw the largest week over week spike in bears among individual investors since 2022, just as this bull market was getting started.

Look at that spike this week:

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Freshly Squeezed (08-13-2024)

August 13, 2024

From the Desk of Steve Strazza @Sstrazza

Stocks with high short interest are proving resilient, even in challenging market conditions, as the bears struggle to drive down even the most hated names.

With this in mind, it's time for another Freshly Squeezed report.

Here's our approach:

We find the most heavily shorted stocks in the market. Then, we monitor these names for signs of upward momentum. Once that momentum kicks in, we ride them higher as the bears get squeezed.

We got fresh short data on Friday, so let's dive in and talk about it.

Our scan is quite simple. It is designed to identify stocks with the most aggressive short positions.

When a stock is shorted, it means incremental buyers are waiting in the wings to close out their bearish bets.

We love this, as new buyers are the one true catalyst for higher prices.

When shorts are proven wrong, they become buyers of the stock. In many cases, this happens as momentum flows into these names and fuels massive short-covering rallies.

Nasdaq Hits New 52-week Highs

August 13, 2024

Despite any selling pressure in stocks over the past few weeks, the Nasdaq Inc continues to push to new 52-week highs, again.

This is a trend that has been in place.

The Capital Markets stocks, which are part of the Financials universe, continue to be leaders in this bull market.

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The Minor Leaguers (08-12-2024)

August 12, 2024

From the Desk of Steve Strazza @Sstrazza

Welcome to The Minor Leaguers.

We've had some great trades come out of this small-cap-focused column since we launched it back in 2020 and started rotating it with our flagship bottom-up scan, Under the Hood.

For the first year or so, we focused only on Russell 2000 stocks with a market cap between $1 and $2B.

That was fun, but we wanted to branch out a bit and allow some new stocks to find their way onto our list.

We expanded our universe to include some mid-caps.

Nowadays, to make the cut for our Minor Leaguers list, a company must have a market cap between $1 and $4B.

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Bonds Rallying? Buy Real Estate (08-10-2024)

August 10, 2024

From the Desk of Steve Strazza @Sstrazza

Have you heard about the rally in the bond market?

After a severe multi-year drawdown, bonds have carved out a massive basing pattern and are putting the finishing touches on a primary trend reversal.

More importantly, interest rate-sensitive stocks are following suit and rallying higher as rates come down.

The sector with the highest correlation to bonds, Real Estate, is also putting the finishing touches on a bearish-to-bullish reversal.

With the market under pressure in recent weeks, Real Estate's relative strength and resilience stands out in a big way.

This once left-for-dead group of stocks is now the sector leader over the trailing month and quarter.

The only responsible thing for us to do is dive beneath the surface and find the strongest individual names to use as vehicles to play this trend.

Before we do that, let's set the stage.

Here is a look at those multi-year bases in bonds and real estate. Notice how they look the same: