Investors,
Welcome back to another iteration of The Weekly Selection. The purpose of this write up is to bring an all inclusive look at both the broad, and individual stock market, how I view it, and what to expect coming up.
In addition to this, provided within are a few goodies for your enjoyment, like the portfolio tracker for the stocks selected, as well as a parabolic trend analysis from a stock in the past.
Indexes
Last Week we saw some of the cleanest volatility of the new year. Opportunity were provided in both directions, on both our favorite stocks to trade as well as many sectors that don’t get as much love as they deserve. Personally, I enjoy this type of trading as it allows me to find creative entries on stuff I don’t often trade as post-covid has seen tech in rotation more than ever before.
SPY 0.00%↑ up first. Wonky start to the week and then a grand finish. Huge selloff on thursday which put a lot of people on alert for a potential swing down. I was not in the belief that this was the end, and released a few messages on Thursday:
I don’t usually make calls like this, but the opportunity was clear and heavily weighed to the upside from a R/R standpoint. Currently In SPX5300c for this week.
IWM 0.00%↑ starting to slip with the evasion of rate cuts. Small/midcaps rely on debt to grow and cannot in this environment.
XLE 0.00%↑ the energy read was fairly clear this year. Again, was on top of this early in both the newsletter and discord.
GLD 0.00%↑ gold with some awesome price action. This has been my core long for the last few months, I expect higher.
Parabolic Trend Analysis
EVER 0.00%↑ is this weeks parabolic trend analysis. I was a little harsh on this one, but the sloppy price action would have made this untradeable. It wasn’t profitable then, and the growth didn’t indicate a path to profitability, but it was still finding ways to surprise the market with its growth, which is something I guess
Best opportunity for this would have been buying into an ER, especially that first one that sells off into the report only to surprise 30% to the upside.
Past Performance
As I did not have a selection last week, there is no performance to update. Will be back next week.
Charts
NET 0.00%↑ is best in class here. Strong daily, pop over the moving averages, curling after ER gap.
LLY 0.00%↑ closed strong on Friday vs the market. I like this look along with $VKTX.
NOW 0.00%↑ is another great looking chart this week. Self explanatory.
HUBS 0.00%↑ despite that awful Friday candle I actually really like this breakout.
MSFT 0.00%↑ spectacular. Self explanatory.
That’s all for this week!
IF YOU ENJOYED:
Like this post