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.
Metals Are Making All the Right Moves
From the Desk of Ian Culley @IanCulley
Metals have been one of the weakest areas of the market this year.
It doesn’t matter if we’re talking about the materials sector, commodity space, base and industrial metals, or gold. These assets have carried nothing but downside risk.
But mix in a little dollar weakness, and we see an impressive display of strength. Metals are finally looking like they have something to prove.
Yes, it’s only one day of action. But it’s a day worth noting… [Read more…]
The Hall of Famers (11-04-2022)
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. Click here to check out the International Hall of Famers.
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.
Rule #6: Don’t fight the FED (less valid than #1).
The lengths that grown adults will go to justify their reckless behavior continues impress.
One of the classic misnomers that you’ll hear out there, especially these days, is: “Don’t Fight The Fed”
How many times do you hear these fools say it?
They think they sound smart. They think they’re clever.
They pretend to be historians, but all they’re proving is that they’re lazy, wrong and enjoy embarrassing themselves in front of everyone.
If you’re going to quote the great Marty Zweig, the least you can do is quote him correctly. [Read more…]
A Relative Bid Goes a Long Way
From the Desk of Ian Culley @Ianculley
Bonds are an absolute dumpster fire.
Everyone knows fixed income is having one of its worst years on record. And, from the looks of it, we’ll all be dragging our Christmas trees to the curb before US Treasuries stage a miraculous comeback.
Don’t get me wrong. I believe these safe haven assets will dig in and catch higher – eventually. There’s just no sign of it happening any time soon.
Instead of focusing on the disappointing performance of bonds, let’s turn our attention to its relative trends against other major asset classes – stocks and commodities. [Read more…]
Tilt Prevention
The concept of “Tilt” is often discussed when things have gone awry. It’s usually associated with poor risk management and sloppy trading that has led to larger-than-expected losses.
You can no doubt find endless stories of traders in every timeframe who have gone on tilt and proceeded to wreck their month, their capital, and sometimes even their careers.
We’ve all experienced some degree of this in our own trading. It comes with the territory. It takes a rare human who possesses the mental fortitude to stay completely focused no matter what’s happening to their portfolio. Those people are out there – but they’re hard to find.
The downsides of going on tilt when our trades or strategies aren’t working out are fairly obvious.
But we rarely talk about when we go on tilt with a winning position! [Read more…]
[Options] Stapled to These Levels
Well, that was fun!
Yesterday we were treated to the latest interest rate hike from the Federal Reserve and a speech and Q&A with Fed Chairman Powell that apparently wasn’t well received by the market as stocks slid furiously into the closing bell and continued the selloff into this morning.
Where we go from here is anyone’s guess. Still, I’d like to take the opportunity to continue taking advantage of consistently elevated options premiums and put on a delta-neutral credit spread in an area of the market where I think some sideways rangebound action may be setting up into the end of the year.
The Nasdaq Is NOT the Stock Market
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