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Former NFL head coach and broadcaster Sam Wyche once began his color commentary for a game by noting that hard work alone usually insufficient to compete at the highest level. Actually, what the affable yet rough-around-the-edges Wyche said was, “Jackasses work hard. The key is to work smart.” Indeed, in the stock market truer words have never been uttered, as Mr. Market could not care less how may hours you spend toiling over research reports and “Breakfast with Dave” or Apertivo with Nouriel commentaries.
Speaking of working intelligently, you probably were not aware that HSNI (Home Shopping Network) hit all-time highs on Tuesday since its IPO several years back. How did I know? Well, I did my homework via perusing my saved screens inside The PPT. Members of both The PPT and 12631 can click here to access my custom relative strength screen, in which HSN popped up with the highest daily hybrid PPT score percentage increase on Tuesday out of any stock with a very high PPT Relative Strength score.
The retail sector still intrigues me, given the favorable setup in the ETF chart of XRT. I have also included the annotated charts of JOSB MW STMP as other long retail ideas below.
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I noticed that you’ve been focusing on retailer a lot lately. Beside the charts, are you thinking of seasonality here?
Yes it usually works out that way.
All great setups. Appreciate the work, Chess.