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All Star Charts

Expert technical analysis of financial markets by JC Parets

Is this Euphoria? Doubt it.

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Remember last year when everyone was bearish?

And I mean everyone!

It was funny, there I was telling people it was a new bull market, because we actually do the work around here, but investors weren’t buying it.

In fact, we saw 44 consecutive weeks of more bears than bulls among individual investors. This was an even longer streak than we saw during the Financial crisis. Longer than COVID.

People were really angry.

You can see the AAII Bulls and Bears, along with their consecutive streaks plotted below: [Read more…]

The Hall of Famers (02-10-2023)

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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.

[Read more…]

Seeing the Spin on Natural Gas

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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…]

The Experienced Newbie

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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…]

All Quiet on the Bond Front

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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.

[Read more…]

Freshly Squeezed Report

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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.

[Read more…]

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