What if these consolidations in Financials and Materials do NOT resolve higher?
What then? [Read more…]
[Options Premium] A Maxim Worth Trading
We’re continuing to see strength and leadership in the semiconductor space. And a name the All Star Charts teams has been high on for some time has recently begun to break out from a new consolidation. Being that the stock is also making all-time highs — you know situations like this get me excited.
So heading into a long Memorial Day Weekend, we’re putting one more position on the books to round out our month.
May Conference Call: 5 Key Takeaways
From the desk of Steve Strazza @Sstrazza
Earlier in the week, we held our May Monthly Conference Call, which Premium Members can access and rewatch here.
In this post, we’ll do our best to summarize it by highlighting 5 of the most important charts and/or themes we covered, along with commentary on each.
Let’s get right into it!
Massive Tops, Lower Lows and Lower Highs
Do you see something else here?
Massive tops? Check.
Lower lows? Check.
Lower Highs? Check. [Read more…]
Bearish or Bullish: What Systemic Risk?
On the this episode of Bearish or Bullish we talk about the Crypto Crash and how when Futures opened up on Sunday, they didn’t care. Stocks were actually up a little. That’s the market signaling to us that there is no systemic risk right now in Crypto. And we’re not even close.
That’s probably a good thing, and more bullish for the Crypto space considering how much larger it would need to get to really become intertwined with Stocks and Bonds, which combined are over $150T in market cap. Crypto is only 1.6T, just to put things in perspective.
We also discuss the latest Minor Leaguers Report which scouts the farm system for Small-cap stocks between $1-2B in market cap before they get called up to the Mid-caps ($2B+)
Relative strength in Bonds and European Banks. But is that sustainable? What should we expect?
All this and why Chardonnay is the world’s most versatile grape on the latest Episode of Bearish Or Bullish.
Enjoy!
Mystery Chart (05-27-2021)
From the desk of Steven Strazza @Sstrazza
Check out our latest Mystery Chart!
What we do here is take a chart that’s captured our attention, and remove the x and y-axes as well as any other labels that could help identify it.
This chart can be of any security, in any asset class, on any timeframe. Sometimes it’s an absolute price chart, other times it’s on a relative basis.
It might be a ratio, a custom index, or maybe the price is inverted. It could be all three!
The point is, when we aren’t able to recognize what’s in front of us, we put aside any biases we may have and scrutinize the price behavior objectively.
While you can try to guess the chart, the point is to make a decision…
So let us know what it is… Buy, Sell, or Do Nothing?
2 To 100 Club (05-26-2021)
From the desk of Steve Strazza @Sstrazza
Welcome to the 2 to 100 Club.
Something we’ve been working on internally this year is using various bottoms-up tools and scans to complement our top-down approach. One way we’re doing this is by identifying 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.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, and Salesforce, to a myriad of others… all would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table you will notice we are only focused on technology and growth industry groups such as Software, Semiconductors, Online Retail, Solar, etc
Then like any good technician, we filter the list down to those that are closest to new 52-week highs. This allows the cream of these strongest groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
[Options] The Moment of Truth
JC put out a post recently discussing the weakness in small-cap stocks. He makes a pretty compelling case for why they could be leaders in a big way on the downside if the stock market rolls over here. But of course, as we’ve seen time and again in recent years, so many breakdowns have proven to be false and the whipsaw back to new highs has been violent.
Here’s what he laid out for $IWM that has my attention:
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