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.
Commodities: Hunting for an Uncorrelated Trade
From the Desk of Ian Culley @IanCulley
I’m avoiding the US dollar and interest rate chopfest.
That includes interest rate-sensitive commodities like crude, copper, and gold.
So, let’s check in with a commodity group that walks to the beat of its own drum…
The Hall of Famers (06-14-2024)
From the Desk of Steve Strazza @Sstrazza
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 Crowdstrike and Arista Networks.
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. Click here to check it out.
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.
Junior Hall of Famers (06-14-2024)
From the Desk of Steve Strazza @Sstrazza
We love our bottoms-up scans here at All Star Charts. We tend to get really creative when making new universes as we want to be sure they will deliver us the best opportunities the market has to offer.
However, when it comes to this one, it couldn’t be any simpler!
With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US stocks.
Welcome to The Junior Hall of Famers.
This scan is composed of the next 150 largest stocks by market cap, those that come after the top 150 and are thus covered by the Hall of Famers universe. Many of these names will someday graduate and join our original Hall Of Famers list. The idea here is to catch these big trends as early on as possible.
There is no need to overcomplicate things. Market cap is a quality filter at the end of the day. It only grows if price is rising. That’s good enough for us.
The bottom line is it is a bull market. We want as many vehicles and options to express our bullish thesis as possible. This is a good way to do just that.
Let’s dive right in and check out what these future big boys are up to.
Caleb Franzen Can Figure It Out
Heading into the COVID-19 pandemic, Caleb Franzen was working a corporate banking job that felt like a dead end. “It felt like I was just being moved around from one boiling pot of water to the next.”
Additionally, he had traded during college and what worked in the market didn’t jive with what he had learned in college. “Never once did I use anything in my banking job that I learned in college.”
He needed a perspective change. And it came during a transformative trip to Colorado that changed the course of his life. It was there when he was reminded that travel was a top priority for him and that he needed to have the ability to work from anywhere and have his own schedule.
So he left the corporate world and started his own research practice.
But it wasn’t going to be easy. Caleb needed to get his voice heard. He needed to find a way to create value for people without asking for anything in return.
It was at this point that Caleb decided to make a concerted effort to leverage social media – particularly Twitter/X. He knew that there were many people in his field sharing great content, but there was only one Caleb Franzen in the world and he needed to make the most of it.
His only plan was: “I’m going to arrive and figure it out.”
This also became his plan as he then embarked on a world tour that was only supposed to last three months but is now stretching into its 15th month with no signs of stopping.
His guiding beliefs through it all have been: “Have belief in yourself and just go figure it out. Everything’s going to be ok.”
Learn about Caleb’s fascinating travels, how it has informed his trading, and how he’s built a respectable name for himself in a crowded field.
[Options Premium] Gotta Be in the Mega Majors
The recent stock market rally is being led by the mega caps. And there’s no reason to think this isn’t going to continue for the foreseeable future.
I’m currently under-allocated to the biggest capped names. So today’s trade is an attempt to rectify that. [Read more…]
Long Elon and Long Tesla
What’s an Ideal Account Size For Options Trading?
The Bull Market is back, baby!
At least, it sure looks that way at the index level as the biggest of the big caps begin new legs higher.
Though, curiously, the two short positions I have on are also showing signs of working out for us.
With $VIX readings continuing to remain low, most bullish bets I’m looking at involve buying options premium since it is quite affordable in this environment.
In this week’s portfolio review, I fielded an important question: “What’s an appropriate account size for trading options?”
Of course, there is no one-size-fits-all for options accounts. But I get into a number of considerations to mull over to determine what is the right size for you.
Check it out: [Read more…]
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