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All Star Charts

Expert technical analysis of financial markets by JC Parets

[Premium] Stocks To Buy For December

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The stock market has spoken and it seems clear that we’re stuck in between some pretty significant levels of support and resistance. This argues for more of a sideways mess type of a market vs a complete collapse, at least for now.

We’ve laid out some important prices where something more substantial would be possible. We’ve successfully held above those key prices. A few examples are Technology $XLK above the 2000 highs, Regional Banks $KRE & Broker Dealers $IAI above their respective 2007 highs. In the indexes, 2660 in the S&P500 is a big one. We’re not going to have a complete collapse if these assets are above those levels. It’s if and when we’re below them that the real problems could start.

All of this suggests that we’re in more of a sideways range type market, at least for now. In that environment, if we’re going to buy stocks, we want to buy strength. I don’t think it’s worth messing around looking for mean reversions. We want to buy what has already been working compared to the rest during the past 2 months of selling pressure.

[Read more…]

What Do I Do? Should I Sell Now?

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Over the years I’ve been asked this question a lot: “What do I do? Should I sell now?”

This is often accompanied by a story about how they bought a stock or asset and it went down in price instead of up. The blame usually goes to a financial advisor or local friend who gave them “the tip”. They entered into the position without a plan and now they don’t know what to do with their unrealized losses. [Read more…]

Gratitude (good) and Perfection (bad)

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Happy Thanksgiving!

During our family’s feast this year I’ll be reflecting on my gratitude to each and every one of our subscribers, and to my team here at All Star Charts. I could not ask for a more engaged audience and a more top-notch group of analysts to work with. This year marks the maiden voyage of the All Star Options corner of the All Star Charts platform and the response from institutional and retail subscribers has exceeded my expectations and it makes me ever more motivated to continue crushing it for years to come for all of you.

Sincerely, thank you.

Now let’s talk business…

This week we put an options spread trade on in Goldman Sachs $GS and it serves as a vivid reminder that we’re not looking for perfection here. We’re looking to follow a process.
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BNN Bloomberg Video: Stocks, Bonds & Rates

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I’m on the east coast this week for the Thanksgiving holiday so I came into the city to say hi to friends. Catherine Murray and I had a nice conversation on BNN Bloomberg about US Stocks, Interest Rates and what Credit Spreads are suggesting for overall risk appetite from institutions.

Here is the video in full: [Read more…]

Let’s Take a Closer Look at the S&P500

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We could not be more thrilled to see stocks selling off. There has been more than enough evidence since the beginning of October to suggest that a more neutral approach to markets and/or selling stocks short has been the best course of action. Passive investing is great, in theory, but markets like this remind everyone that hope is not a strategy. We need to weigh the evidence as it comes in and always reevaluate our thesis.

Over the past couple of years you’d have a hard time finding a bigger US Stock Market bull that me. There was no reason not to be incredibly constructive towards equities. Leaders were leading, consolidations were resolving to the upside and the trends globally were up. We didn’t think it made any sense whatsoever to fight that trend, while many others did. Top callers were horribly wrong for a long time.  [Read more…]

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