Nothing like starting of the new year with another useless poll. What are the predictions for 2019? Do we trade higher? or do we trade lower? It’s really a simple question, and I really don’t care for you to tell me it’s going to be a flat year. For our poll marker, the S&P 500 sits at 2,500 as we begin this year. Now go vote below:
Loading ...Let’s make it a good year with good trading habits! Happy New Year all!
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I took some losses this week. I’ve sold off some long term positions for profits this week. I’ve raised cash this week. It feels like capitulation on my end, and I’m left with blood all over my PNL for the fourth quarter of 2018. It’s been a trying year all around for the Cajun. From adding new businesses to the portfolio, dealing with a huge family loss, to trying to keep up a financial blog, let alone trade.
At one point, I tried to turn in my keys to The Fly, saying I’ve been too busy, it’s not fair to the readers. He refused to accept them and said things will be better in 2019 for me. I appreciate him for that.
My year is pretty much wrapped up after this week. I’m off to New Orleans for a family Christmas party with all 4 of my siblings, and Mom & Dad. I’m still blessed to have them all. My wife not so much. She lost the last person close to her a few months ago, her mother. And, it’s been a rather somber Holiday. We sold her house last week, and basically all of her belongings have been dispersed. It’s a sad thing to see. When you’re gone, everything material is so meaningless.
One of my best trades this year was in $ROKU, basically riding it from 30s to 60s. My last trade in it, I basically rode it all the way back down. Again, giving me a meaningless feeling as we end the year.
I’m ending 2018 on a rare depressing note. But, rest assure to my readers of 13+ years, The Cajun will be back better than ever in 2019.
As we enter a period of increased volatility, I encourage everyone to step up their discipline game. Be more selective with stocks, set more stops, hard stops. It’s all about Capital preservation, especially when volatility picks up.
I’m off to drink a bunch of Eggnog, and will try to be Merry. We either fall into the abyss on Monday or bottom on the back of this post. I’ll leave you with the top 20 ranked names inside Exodus as we head into Christmas ’18.
Warren Buffet is buying the financials hand over fist here, specifically the $JPM. Apple computer has built the best cellular computer phone the world has ever seen, and people are paying $1500 for it– without batting a single eyelash. Oil is now back down to the low 50s, and we magically have more money to spend for Christmas due to saving at the pump. I swear Donald Trump is a mother fucking genius.
I like everything I saw today, from a bullish perspective. I even think $AAPL has bottomed for the rest of the year. The market needs $AAPL to trade higher, just like it needs the financials to trade higher. The $XLF, the ETF which tracks the financials, has a nice bullish inverted head and shoulders pattern developing. see graphs below:
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If this bullish tone continues into the week, here are some names moving up in the Exodus ranks. (Members can save screen HERE)
Can markets bottom on a Friday? or did they bottom today? Do we have a Thanksgiving rally this year? or has Christmas officially been canceled? I want to see the Semiconductor stocks, aka Semis, lead in a bullish tape. $NVDA just put a small damper on that.
My trading activity has been light as of late as I’m trying to limit mistakes in a brutal tape. As for my current holdings…. we caught some good action in $NIO today, and even recovered some lost coin in $ROKU. $AMZN closed back above $1600, and $SQ is holding the line. My absolute favorite position, $SNAP, was even up a cool 5%.
Let’s see how the market holds up on Friday. If we lose Thursday’s lows, all bets are off. We have some key levels to watch. Let’s wait for things to setup.
No rush here.
Here are your momentum names moving up in rank, courtesy of Exodus:
Here’s your weekly look at the top 50 ranked stocks inside iBC’s trading software, Exodus. The following names lead the way in terms of their overall hybrid score, meaning their combined financial & technical score. Also, every name on this list maintains positive free cash flow, meaning these companies actually make money.
I’ve imported the top 50 names for your viewing pleasure, they can be found HERE. One name to note from this screen is $SBUX. This stock could careless about an election or a trade war. Here are the very best stocks the market has to offer:
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Long live Disney World, coffee, burritos, makeup, & drugs. Have a good weekend all.
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As many of you know from my previous post, it’s anniversary time with LSU & Alabama playing each other to start November. This year, my wife and I celebrate 10 years of marriage, a date to celebrate indeed. We did some small travel, and I showered her with a bunch of flowers (Including an aluminum one). She was also gifted a diamond band to go over her other wedding rings, and a new SUV. I think I did good.
The anniversary date which fell yesterday, November 8th, was a great day. Normally, on big occasions, it doesn’t really go so well. This time however, it went damn near perfect. Really, the only reason why I say “damn near perfect” is because I had this $ROKU fucking thorn in my side as I opened my trading app for a quick second. I should have sold the stock there, but honestly didn’t think the quarter was all that bad. So I continued with the festivities.
As we got closer to the closing bell, the thorn in my side became an axe in my abdomen, as this beautiful head and shoulders pattern was playing out regardless of my bullish thesis.
Where does $ROKU go from here? I don’t know, but it seems like dead money for now. Technicals win in a market where stocks are priced to perfection, and I was too slow to act.
I’ve got some work to do next week….
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