Joined Jan 27, 2008
7,394 Blog Posts

$ROKU Back With Vengeance, And Back On The Hybrid Screen

It’s been another fun after-hours session with fake news shaking and baking even the best of traders. Fly said it best in one of his post today, “One could make a strong argument for ignoring any and all news. Granted, it might make you woefully ignorant and a dullard bore at cocked tail parties, but you’ll be happier and richer for it.”

Moving right along, and ignoring the news flow, here are the top hybrid movers found from the Exodus algorithm. $ROKU is back on the list and had a pretty strong day. Mr Softie, Amazon, & Square also look good to go here; check out my favorites below:


For today’s full hybrid screen: CLICK HERE FOR CHARTS

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Extreme Opinions Are NOT Being Rewarded

It’s easy to form an opinion in this type of environment, but mother market could careless about your opinion. Josh brown spelled it out perfectly today during the closing bell, don’t get chopped to pieces:


Then Josh gave us this gem, and his $NVDA analysis:


As Josh mentioned in the above clip, we are right in the middle of the 50 & 200 day moving average for the S&P 500. Piercing the 200 day moving average has been kind to the bulls 5 times in a row, since August. My guess is if we break below it again, mother market won’t be so kind. We’ll see….

Try not to make any opinions. Anything can happen here.

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Momentum Monday

What an odd trading day to start the week. I was expecting the bottom to fall out this morning, but the bulls maintained their composure. It almost felt like many participants were positioned short given the jumpy price action intraday. And, judging by the after-hours session, it seems more traders are covering.

We could be in for one hell of a Tuesday, with free commissions across the globe (sans Fidelity), with shorts getting squeezed yet again.

As for stocks, $DOCU looked like the clear winner on the day. $UBER finally got off the mat with an upgrade, but I still can’t get behind it. $TSLA had a good day on more semi-truck news (I still own a position). And, the $MTCH recaptured all important moving averages. All four tickers were on Monday’s momentum screen, you can view the full screen HERE.

And, watch those tankers: TNK, FRO, SALT

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It’s The Weekend; Here Are Your Top Ranked Stocks

October started off with visions of a $VIX Halloween, but soon turned into another 200 moving day reversal. As long as the 200 day moving average holds on the S&P 500, the bulls are in control.

It’s been a few weeks since we looked at the top ranked names inside Exodus, so let’s take a look at the list after the latest shakeout. I’ve imported the top 100 ranked names from Exodus, leaving out names that trade with little to no volume: CLICK HERE FOR CHARTS.

The link above sorts the list by average volume not the actual ranking, to view the rankings, save and bookmark the Exodus screen HERE. The talking heads on CNBC stated we needed to see $MU bounce for the market to reverse, indeed $MU did and made the list. $AAPL is also on this week’s screen. Here are a few of my favorite setups as we head into a new week, see charts below:

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Commissions Are Gone For My Broker; Stocks Reverse Higher

It’s pretty amazing that my current broker, ThinkorSwim, just eliminated commission fees. I guess we can all thank RobinHood for what is happening in the broker industry. The TOS platform is downright, in my opinion, the best platform– especially now with FREE trades. Why would anyone trade with RobinHood when you can get the same fee structure with a quality broker?

Stocks opened up marginally higher this morning only to be met with a trap door. This trap door ran stops and put us deep in oversold territory, even slicing through the all important 200 day moving average on the S&P 500. The last 5 times price fell below this average, stocks were immediately met with buying, creating short term reversals. See chart below:

The bulls now have levels to manage risk with today being a good stepping stone for stocks to regain their footing. Should we lose the average from here, all bets are off until we recover it once again.

$OKTA was a standout today from my last post, $TSLA not so much. $MU & $NVDA both made our momentum screen, also helping the bull case today. For a full look at today’s momentum screen: CLICK HERE FOR CHARTS

Let’s keep an eye on $ROKU, $FB, $BABA, & $LYFT here. Solid day for the bull camp.

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Not Much Looking Good Except…

The stock they love to hate, $TSLA, was one of the few stocks I follow that had a positive day as we begin the month of October. On strength, watch for a move out of this range:


$OKTA is another name that had a pretty large move in its Exodus score today. Watch for a dip to buy and use the $93 level to measure risk:


Here’s a look at the momentum screen at the close. We still have inverse ETFs populating: $TVIX, $ERY, $DUG, $SPXU, & $SKF, and technicals still favor the downside. Let’s see if we can get some panic selling at the open to buy. I’m still not eager to do much here.


And, here are some seasonally strong stocks to watch for October:

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