The Weekly Selection: 09/15/2024
Vol. 105: As Written
Investors,
Welcome back to another iteration of “The Weekly Selection”, where I share my insights on the market, some stocks to watch, as well as an analysis of a previously historic run on a particular stock.
Last week we saw the push back up that spoken of in weeks past. Remember, I am of the opinion that until we are given a deeper lower high and lower low, there’s no reason to assume that setups wont materialize and play out. Furthermore, GLD 0.00%↑, one of the biggest of my ideas for nearly a year now, continued its push to fresh highs. This move is nearly identical to the one we saw in the 1970s and early 80s. If you’d like to see it, read the PARABOLIC TREND ANALYSIS HERE.
Indices
In a perfect world, we get some tightness here to give some of the hot movers time to relax. After putting in a higher low, I don’t see this as a probable outcome, and am expecting a move to highs rather swiftly, especially if big tech decides it wants to participate.
IWM 0.00%↑ and the SMID camp are consolidating nicely, as talks of rate cuts have the people excited. Personally, I don’t trade indexes, and to be frank, studying the IWM is kind of worthless as its so broad. That being said, around news it can be a decent study piece.
Here’s GLD 0.00%↑. She is beauty, she is grace, she is off to outer space. I’m usually not so brash in my writing, but this has been an idea ive been very adamant about, despite criticisms from peers.
Parabolic Trend Analysis
$BLPD was a standard Biden admin company that got pumped full of cash and took to the skies from there. Not really anything under the hood. cash injected from UAV business sale + sale of stock during the run. Wise for them, also upon inspection of the last couple years they didn’t really spend that cash on stock based comp, good on them as a lot of the clean energy names were paying execs out the wazoo.
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Past Performance
Last week the newsletter picks performed well from Monday - Friday. Have a look below at LMT 0.00%↑ GLD 0.00%↑ AFRM 0.00%↑
Pretty slick. Lets see what next week holds!
Charts
Pretty healthy basket this week. As this pullback and rally materializes, lots of hampered charts are starting to open up.
PANW 0.00%↑ first up, little loose through the base, I am a fan.
NFLX 0.00%↑ Shaping up right by local highs. Not really a spectacular story here, just a mega co looking nice.
ASTS 0.00%↑ is a newer name making itself known for its satellite work. After a 1200% run, and a 40% pullback, I think this continues into the next week, especially if small/midcap indexes continue.
INTA 0.00%↑ pinching nicely below a resistance post breakout.
ARQT 0.00%↑ hell of a pinch here between 2 DTL offerings.
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