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Full-time stock trader. Follow me here and on 12631

Five Stocks Feeding Off the Big $CAT Today


Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.



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Are You DTF?


Down to Fiesta…that is.

With the likes of select casual and fast food plays, such as DPZ JACK, making new highs today, keep an eye on Fiesta Restaurant group as a long setup if it can clear $52 again to the upside.

I have mentioned this one several times before, as it seems to be distinguishing itself among many of its peers in terms of finding buyers in each market pullback. They have a solid brand of casual restaurants (Taco Cabana, e.g.) and may very well be a buyout target, to boot.




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High Yield Corporate Algo Gone Wild


I am back to cash after taking 2.7% and 5.2% losses on my shorts, wiping the slate clean into the market’s gap higher which is holding, thus far.

You can see the high yield corporate paper ETF, below, also sporting a gap up this morning.

However, this one faded off of what looked like a fat finger/algo-gone-wild trade. When you see a candle like the one below, it is tough to do much of anything–The chart is still damaged but now is clearly stop-running shorts to the upside and doing some cleaning work before the next real move.

I still think junk and high yield corporates are key parts of the fixed income market to watch going forward, related to equities.



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Ready to Take Some Lumps, if Need Be

With my two short bets under pressure this morning, in the small caps and semiconductors, I am prepared to cut them for about 3-4% losses this morning if there is no downside reversal into the opening gap higher, in the next thirty minutes or so.

Given the back-and-forth in the market the past few weeks, I am inclined to move back to cash and wait things out for better spots to get involved.

What are you trading this morning?


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Latest Titanic Readings in Case of Iceberg


Here are some actionable short ideas on this list, especially if the market sees another day of weakness.

Courtesy of The PPT algorithm, here are some very aggressive ideas for short trades headed into Friday If you are not comfortable shorting (especially in a bull market), there is nothing wrong with taking a pass. Keep those cover-stops in place.

Nonetheless, a good chunk of readers are always looking for short ideas.

Members of The PPT can click here to view and save this “Titanic” Screen, as I named it when I created it a few years back. The screen isolates stocks vulnerable to further weakness.

Please click on image to enlarge 



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Night Owl Open Forum


For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

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