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“By watching [my first boss and mentor] Eli [Tullis], I learned that even though markets look their very best when they are setting new highs, that is often the best time to sell. He instilled to me the idea that, to some extent, to be a good trader, you have to be a contrarian.”-PAUL TUDOR JONES
MOVING AVERAGES USED |
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REDLINE = 50 DAY MOVING AVERAGE |
GREENLINE = 10 DAY MOVING AVERAGE |
PINKLINE = 21 DAY MOVING AVERAGE |
The Nasdaq index sits clear of all its moving averages and is up more than 4% so far this year.the index made good rebound at 21-day moving average on friday.its approaching 2021 resistence at 6200.
I expect the index to continue with its upside move with normal pullbacks (10-15%) to the key moving averages (10,21and 50).
NASDAQ
The S&P 500 surged 1.1%, hitting an all-time high in the process. It booked a gain of 1.4% for the week and now stands comfortably above its short-term and major moving averages. The benchmark index is up about 4% thus far in 2024.the index made its ATH latweek, we can expect the retest of the cureent support (previous resistence) .
The index had similar rebound at 21-day moving average on the lastweek.We can expect some shortterm pullback to key moving averages.
S&P500
This is the sector rotation lastweek and last month
HERE ARE LIST OF STOCKS WHICH I HAVE BOUGHT OR I’M LOOKING TO BUY ONTO THIS WEEK. |
MY STOCK PERFORMANCE RATING IS A+,A,B AND C WITH A+- BEING THE TOP AND C-BEING NORMAL. |
I HAVE MORE THAN ONE TRADING ACCOUNT SO WHEN I’M SAYING I HAVE A POSITION THIS MEANS IN ONE OF MY TRADING ACCOUNT. |
MOVING AVERAGES USED |
REDLINE = 50 DAY MOVING AVERAGE |
GREENLINE = 10 DAY MOVING AVERAGE |
PINKLINE = 21 DAY MOVING AVERAGE |
RATING: A I sold my position in smallprofits,but i will start new position if it will cross short term moving averages .The recent pullback was made with low volume which suggest that there were no major selling. 40% of the stock will make pullback to a pivot after breakout,so the pullback was normal.
RATING: A I still have a position on this ,this is stock also made a pullback to the pivot point,the pullback was also on low volume ,and thats what we want see .its industry group is performing well.i want to see more volume now on its way moving upward.
RATING: B Started my position at pivot point (blue zone) ,the stock is acting well with its relative strength near new high.the fundamentals are not too good compare to its future earning expectations.the stock is worth paying attention to.
RATING: A I bought the stock on friday as it was breaking out of short time consolidation after ER gap-up.Fundamentals are good with triple digital earnings.let see how the stock will act into the nextweek.
RATING: B The only thing we need for the this stock to move upside is more volume ,i like how the stock is making tight action on weekly timeframe which means institutions are accumuating shares,i dont have any position currently until i see its crossing buying zone on volume.
RATING: B With its ER due 11 days the stock is made good consolidation with contracting volume ,will buy when the stock will cross the pivot point (blue zone).the company has triple digit EPS and positive future earning expectation.goood stock to pay attention.
RATING: C I sold my partial position before ER and the rest after the ER,Its pass for me now.i want to see contraction action before comming anything to it.the company have invested alot in AI its Germini a multimodal it understand and work with images, audio, videos, and code. let see how the stock will act.
RATING:A I have a position on this bought on friday as it was crossing the short term consolidation, positive future expectation and triple digit EPS will push this stock upside. let see how will act in the nextweek.
RATING: A I have a position on this,the reason i bought this stock is it has very good fundamentals eg 241% future earning estimate ,triple digit EPS and sales.Also its has good techinical action such huge prior move which shows the accumulation of shares by institution investors.the volume was way above average when it moved above the buying
RATING: A Bought this stock on friday after EPS gap up,best fundamentals and technicals,triple digit and double digit sells.positive earning expectations and volume extremely high on the gap-up . best stock and worth paying attention to.
RATING: A I have a small position on this, after moving above the wedge/pennant.the reason for buying stock is it has good previous move technicaly and also their whole industry group ( software security ) is strong group, all stocks are moving up, eg CRWD and ZS .Also i noticed the stock made a pullback and bounced at 10 day MA .
RATING: A I saw the stock on IBD STOCKS ON THE MOVE ,the stock had huge volume (600+) as moved past the pivot point. The company has good fundamentals (triple digit EPS) .I will continue to hold this stock until there is change in character.
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RATING: A I do have a position on this and added after moved above channel line. ,the company have good both technical and fundamentals items.the triple digit EPS and positive earning estimate can be the reason for the better performance of this company.the stock had nice rebound at 10-day MA last week
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NB;ALL GRAPH/CHART IS FROM MARKETSMITH APP WHICH IS IBD TRADEMARK. You can join here : https://t.ly/UxNt0 |
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