It’s the weekly bond edition of What the FICC?
I thought it was odd bonds didn’t react to last week’s rate hike. Regardless, the lack of volatility represents a positive development for risk assets, especially stocks.
Check it out!
The Experienced Newbie
I’ve been enjoying a (new to me) book recently. Today, I came across this passage that stopped me in my tracks:
Trading is a journey, not a destination. So you’re a trader. Now what? Trading is a constant process of intellectual and emotional growth, and people who trade for twenty years are still learning what to do and who to be when they finally hang it up.
From Street Freak, A Memoir of Money and Madness, by Jared Dillian.
It was almost like Jared was staring at me when he typed those words.
They hit home.
I’ve been in this game for over 20 years now. This coming summer will be the start of my 25th year! [Read more…]
Swing Trader Pro: Afternoon Briefing (02-09-2023)
It was a wild day, once again.
I thought we were going to have movement higher if we were able to break above $SPY 414.5.
But it was a no-go. We headed back downhill.
All Quiet on the Bond Front
From the Desk of Ian Culley
Markets don’t always trend higher or lower. In fact, traders often deal with churn – which sometimes is nothing more than a range-bound mess.
“Sideways” is a trend that’s all too easy to forget after last year’s historic volatility. Even bonds became risk assets in 2022!
I found it odd when bonds failed to react to last week’s rate hike along with other long-duration assets.
But the lack of bond market volatility might be exactly what risk assets, especially stocks, need right now.
Freshly Squeezed Report
From the Desk of Steve Strazza @Sstrazza
As our Premium Members already know, we have a laundry list of scans that we run internally on an almost daily basis.
Different market environments, naturally, are more conducive to certain scans and less so to others.
We think our Freshly Squeezed scan is perfect for the current market. In fact, we wrote our initial report in December just to be sure we wouldn’t miss the moves that have taken place in recent weeks. We’re confident there is more to come.
With so many individual issues in massive drawdowns as the broader market begins to turn a corner, we’re witnessing some serious short-covering rallies in some of the most beaten-down names.
In fact, it’s already starting to happen. Bed, Bath & Beyond $BBBY was up by almost 100% the other day. It’s very likely they’re going bankrupt. But that’s just the kind of market we’re in.
Our scan is quite simple. It is designed to identify stocks with the highest short positions. When a stock is heavily shorted, we know there are incremental buyers waiting in the wings.
We love this as new buyers are the one true catalyst for higher prices. When shorts are proven wrong, they have to buy their shares back to close out their positions. And when they do, and momentum starts moving higher in these shorted names, it is not uncommon for massive rallies to occur.
For this reason, we pair short-interest data with short-term momentum overlays, as this is the match that is needed to spark a squeeze.
Let’s take a look at what’s popping up on our radar right now and outline setups in some stocks we think investors can squeeze profits out of in the weeks and months ahead.
We’ll also give an update on some of our long ideas from December’s report.
Swing Trader Pro: Morning Briefing (02-09-2023)
From the Desk of Kimmy Sokoloff
The whipsaws that have been occurring in this market this past year are extreme. One day down, the next back up.
This morning, futures are higher. It’s basically negated yesterday’s down move.
The Short Report (02-08-2023)
From the Desk of Steve Strazza @Sstrazza
When investing in the stock market, we always want to approach it as “a market of stocks.”
Regardless of the environment, there are always stocks showing leadership and trending higher.
We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.
The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too.
We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club.
We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics.
Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.
Now, we’re also highlighting lagging stocks on a recurring basis.
Swing Trader Pro: Afternoon Briefing (02-08-2023)
Volatility reigns!
Overall, the market consolidated but really couldn’t decide if it wanted higher or lower.
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