The Weekly Selection: 11/13/2022
Volume 13
Introduction:
Hey Everyone!
Welcome back to another Weekly Selection newsletter. I’d like to start by taking a moment to talk about the noticeable change in the psychology of trading. Market volatility has given investors either massive gains or losses, which in my opinion is unhealthy to most regardless of which side they fall on. Economic events driven markets give many a false sense of reality, making or losing when they shouldn’t. Its key in these times to realize gains, stay safe and never get too greedy. Twitter and other social medias push the most successful in our faces, and this is ultimately just noise to your personal journey.
On a more personal note, the market over the last week has been great. On twitter, (which can be followed HERE) myself and my peers have all been staying nimble and ahead of the curve.
Below is the Weekly SPY 0.00%↑ chart, which showed some great strength, especially in the technology sector, which reacted well to a lower than expected inflation number.
Chart:
Although we are hanging out in the middle of this downtrend, I’d like to see us retest the diagonal line (downtrend) before reversing and coming back down into the 360-70 area.
Quote Of The Week:
“You must never delude yourself into thinking you’re investing when you’re speculating”
- Benjamin Graham
With so much uncertainly, its easy to assume that were making sound investments. The only real key to know the difference is whether or not we are following our personal rules and parameters without sway. Risk is ok, but make sure its managed and not ignored.
Past Performance:
Individual stocks crushed this week, with last weeks newsletter stock ideas going 4/5 (80% success). the average gain of the stocks also boasted a respectable 10%, beating the broad market by almost double. ASML 0.00%↑ and AEHR 0.00%↑ have continued to be my largest holdings, both performing exceptionally.
Charts:
Looking ahead to this week, my theme maintains bullish, with the following stocks on my watchlist.
ARRY 0.00%↑ up first. Loving the look of this one, especially after recent earnings, showing phenomenal growth. Entries around 19, with a $27 ish target.
My energy exposure this week resides in CRK 0.00%↑. Strong daily, just needs to get above this upper supply zone to confirm. Patience with this one.
SGML 0.00%↑ is a short opportunity imo. It appears to be the market leader for Lithium, but its resting on these MAs, and a slip below could be catastrophic for the stock. *SHORT*
ENPH 0.00%↑ continues to be one of my favorites to trade. Curious to see how it reacts off the middle green box, a long standing zone of importance.
CAT 0.00%↑ looking awfully extended on the daily/weekly. Id like to see this pull back, and I will likely open a short position this week regardless of what the market does.
NOC 0.00%↑: I hesitated to put this on the list this week, but I like where Lockheed stands, resting at the top of this support. LMT 0.00%↑ looks pretty bad, so ill keep this in my back pocket for now.
DEN 0.00%↑ is another Energy name I like. Big flag above all time high price.
That is all for this week! If you enjoyed, subscribing is free, just input your email at the top or bottom of the page.
If you would like to follow my day to day analysis, education and more, follow my twitter: HERE
Thanks for the support as always!
Tanner