It’s the weekly commodity edition of What the FICC?
I want to share with you a trade idea I wouldn’t have considered a year ago…
Check it out!
Is this Euphoria? Doubt it.
Saturday Morning Chartoons: More Bulls than Bears for Once
This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.
The Hall of Famers (02-10-2023)
From the desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
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.
Swing Trader Pro: Afternoon Briefing (02-10-2023)
The market was range-bound today. $SPY traded between 405 and 408.
We have CPI on Tuesday, so that will help the market pick a direction.
Seeing the Spin on Natural Gas
From the Desk of Ian Culley @IanCulley
I want to share with you a trade idea I wouldn’t have considered a year ago.
I balked at first. This trade’s simply not in my wheelhouse. But I’ve learned so much here at All Star Charts over the past three years.
And “to be open-minded” has been one of the most impactful lessons.
Now, this setup has my full attention. Risk is well-defined, and the upside potential is heavily skewed in our favor.
I can see the spin on the pitch.
I’m talking about natural gas… [Read more…]
[Options Premium] Chewing Through Short Interest
Strazza and I did The Flow show earlier this week in which one trade that stood out and caught my interest was a juicy short squeeze candidate.
Checking back on it today, the stock still maintains a short position greater than 20%. That means more than one-fifth of all shares outstanding are held by people with a short position. And if this stock starts busting higher, the only way traders holding a short position can end the pain is to buy the stock.
This can potentially fuel a rapid rise in share prices (see: Gamestop $GME circa early 2020).
I’m certainly not calling for a repeat of past meme stocks short squeezes here, but in this case, we’ve got a stock that’s chart is in the middle of completing a beautiful base and short holders are no doubt keeping their fingers near the trigger to exit this position quickly if we see some follow thru to the upside.
That creates opportunities for us.
Swing Trader Pro: Morning Briefing (02-10-2023)
From the Desk of Kimmy Sokoloff
I’ll say this again, as I say it in the live trading room often: In a great bull market, you don’t see this level of volatility.
This is not to say we can’t come out of this chop and slop. But, at the moment, we’re still in the vortex.
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