In addition to many of the premier stocks in the tape basing in uptrends, keep an eye on CLVS for s short squeeze higher in this pre-holiday week of trading.
Seeing as we had more M&A activity in the biotechnology sector over the weekend, this one could easily get going over $45 from a potential bottoming formation, highlighted below on the daily timeframe.
Drop me your top tickers overnight.
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The above lecture is by Robert Winkler at the Fuqua School of Business at Duke University.
The name of the lecture is: “Distilling the Wisdom of Crowds: Combining Probability Contributions by Averaging Quantiles”
Members: My latest Weekly Strategy Session has been published
Also, here is an interesting infographic on best-selling products.
Headed into the serious part of the Major League Baseball season, not to mention seeing tomorrow’s (hopefully steroid-free) stars in the Little League World Series, I am going to suggest The Natural (1984) for a solid, late-summer night viewing.
Based on the Bernard Malamud novel and directed by the estimable Barry Levinson, this Robert Redford vehicle is part period piece, part romance, part drama, and all mystique; It has stood the test of time and is still widely-refereced a full thirty years after its release.
Other notable performances include Glenn Close, a cagey Robert Duvall, Barbara Hershey, and the great Wilford Brimley. An elder statesmen role played by Richard Farnsworth, and a younger Michael Madsen also add to the high quality cast.
You will not find too many films with better cinematography, to boot.
An unknown middle-aged batter named Roy Hobbs with a mysterious past appears out of nowhere to take a losing 1930s baseball team to the top of the league in this magical sports fantasy. With the aid of a bat cut from a lightning struck tree, Hobbs lives the fame he should have had earlier when, as a rising pitcher, he is inexplicably shot by a young woman.
https://www.youtube.com/watch?v=DST3ZCnRgfw
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A few weekends ago we looked at National Bank of Greece sporting a bullish divergence versus the GREK, country ETF for Greece, in my Strategy Session and for 12631 members.
Since then, members have seen a solid snapback bounce up to the declining 50-day moving average, seen on the updated daily chart, below.
Headed into next week, there is another similar setup developing in a certain U.S. stock. Can you guess which one it is?
Stay tuned.
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Amid drifting volume, stocks have staged another V-shaped rally to fresh highs, namely on the S&P 500 and Nasdaq Composite indices. The laggards, such as the small caps, micro caps, and regional banks, all tried to play catch-up this week, too.
To be sure, the market action is far from a high energy environment, and rather seems to be one of hit-and-run trading. We also have some wildly-extended issues on all timeframes now, such as the large rail Union Pacific.
Meanwhile, stocks like AAPL TWTR show that they can trade in their own worlds, oblivious to the broad market.
Over the weekend, consider joining our 12631 Trading Service, which @RaginCajun and I direct. I can assure you that a membership to 12631 is well worth its price over the long run.
The way we see it, the big winners will eventually take care of itself–What we care about most is mitigating downside and not being stubborn with losers, and not taking on unnecessary risks. In addition, we strive to preserve a top shelf, quality atmosphere for traders of all backgrounds. We fuse together actionable idea flow with a constant emphasis on proper risk management techniques in our streaming, Twitter-like, state of the art chat room.
Also, be sure to catch my next Weekly Strategy Session.
Please click here for details about joining. Please also note that members of our 12631 Trading Service receive the Strategy Session each weekend at no additional cost.
See you there.
Have a great weekend!
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IBKR, as well as a few other brokers, are setting up nicely on all timeframes if bulls can come in to break them higher next week.
The brokers had become wildly extended in late-2013, a circumstance we noted was likely to lead to a pause if not correction. We have seen just that in 2014.
But headed into the fall it is likely we now see the next big move from them.
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