Category Archives: Hot Stocks

Ignore the Noise and Focus on the Market

The wall of worry is real.  The non-stop news coverage about the election, virus aid package negotiation and the resurgence of the virus in the coming flu season can attest to the validity of the worries.  Yet, the market has had its own mind ever since the March 2020 low.  It just kept going higher without all the worries. 

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In Wait and See Mode

Since the NASDAQ found the bottom around 10500 level, it bounced anemically last week.  All three indices managed to produce a weekly gain last week.  But the cycle indicators are not presenting a picture of a finished bottom, meaning the bounce from the support level is a mechanism of trading, rather than investors initiating new positions.

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The Rally Is Still Full On

The stimulus package didn’t arrive as expected.  It didn’t matter.  The S&P 500 and NASDAQ went to make a highest weekly close anyway.  Inside the fabulous S&P 500 and NASDAQ all time highs, there are only 38% of the stocks went with the program to exceed the February 2020 high, 62% of the stocks are struggling and are significantly below the February 2020 high.

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NASDAQ Cash Index Cycle Location 08142020

Last Friday we sent an intraday alert to take profits in FSLY long trade.  The exit alert was based on the fact that the NASDAQ index has been weaker relative to the Dow and S&P 500 indices.   NASDAQ has a readable daily cycle top.  With the both chambers of Congress going home without a stimulus package signed, it could spark a painful pullback.

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Innovations Power The Winners During Tumultuous Time

Through the challenges imposed by the historic COVID-19 pandemic, the stock market has sorted out the winners and losers in the new digital economy.  It has produced a list companies that can perform, or even perform better during the COVID-19 crisis when the economy was shut down forcefully.

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