Mega-Cap Tech hung on today, and so did the market.
$SPY held yesterday’s low and headed higher.
We still can see SPY 421 in time.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Mega-Cap Tech hung on today, and so did the market.
$SPY held yesterday’s low and headed higher.
We still can see SPY 421 in time.
by David
The most significant insider buy on today’s list is a Form 4 filing by Greg Hayes, the CEO of Raytheon Technologies $RTX.
Hayes reported a purchase of roughly $1 million in Phillips 66 $PSX, where he serves as a director.
by David
From the Desk of Kimmy Sokoloff
Happy Friday!
Well, the tech heavyweights that reported last night had a bumpy evening.
Question is, will $AMZN, $GOOGL, and $AAPL gap and go lower or reverse and bounce?
by JC
If you’re short Peloton with the price above those former highs from the back half of last year, I think you’re insane.
The squeeze is on here folks.
At last glance we saw 15% of the float was still short.
Look at this beautiful bottom and breakout: [Read more…]
by David
From the Desk of Kimmy Sokoloff
Markets continued higher today…
And then, around 2:00 p.m. ET, the indices took a much-needed breather.
by David
The largest insider buy on today’s list is a Form 4 filing by Steve Miron, director at Charter Communications $CHTR.
Miron revealed the purchase of $960,875 worth of CHTR shares.
by David
From the Desk of Kimmy Sokoloff
For some time now, I’ve said $SPY can touch 410. We’re here now.
If we continue to hold on and slightly contract, then SPY can see 421.
From the desk of Steve Strazza @Sstrazza
Welcome to the 2 to 100 Club.
As many of you know, something we’ve been working on internally is using various bottom-up tools and scans to complement our top-down approach. It’s really been working for us!
One way we’re doing this is by identifying the strongest growth 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, Salesforce, and myriad others – 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’ll notice we’re 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 closest to new highs.
This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.