I’m long the $TWTR again as it is spring-boarding off a major support level. We caught a nice lot early on @ 37.80, and are looking for a move back to 52-week highs here. No dips intraday, she gone….
Get in the Exodus Trading Room:
What a difference a day makes judging by our momentum screen inside Exodus. Can the bulls sustain a bounce? or do we roll back over here? There were nearly 200 names on tonight’s screen, with a few charts worth highlighting. For those that care to look at the full screen, the link is provided HERE.
My favorite ticker from tonight’s screen is none other than the $ROKU:
The Cannabis plays also saw some buyers today. $CRON & $NBEV made today’s screen:
How about the Permian Basin? Those were the hot stocks just a few weeks ago, now reduced to ashes. Buyers found in $PE & $APA:
And, if China names show a strong bounce. $HUYA just put up some amazing numbers, and also on today’s screen:
Brazil is all over the momentum screen to start the week, with $BRZU leading in terms of over all percentage gainers. There was little momentum to start the week, judging by our Exodus screener, but Brazil had a decent showing: $SBS, $BSBR, $BBD, $EWZ.
$QID also remains on the momentum screen as does $TZA, both of which represent a bearish stance on the overall market:
The “once Resistance, now support” line still holds as support for the bulls. Let’s see if Monday’s low holds up this week:
On strength, here are today’s top hybrid movers to watch:
See you guys at the open…Comments »
The bulls made a solid stand today after nearly breaking some key levels to start the trading day. At one point, early on in the trading day, $TSLA looked like it was heading straight for $200, and possibly below. Then we get word of Auto tariffs being delayed, and everything zooms higher. Even the $UBER & $LYFT.
Indeed, the is the type of news driven market we are in, all while fake meat is leading the charge– $BYND. I hate fake meat by the way. I’ve never tried it nor will I ever try it. Please don’t convince me, I like my Boudin too much. Thank You.
Oil is trading up a bit here in the after hours session, which is likely the key to this rally. So long as oil trades higher, so will stocks. Be very careful should you see crude start to sell off.
As for where the momentum is, it still lies in the recent iPOs. That damn $ZM is a beauty, and must be monitored here. Here are the top movers on our momentum screen in Exodus. The full list from members can be found HERE.
Zoom Zoom.Comments »
This $UBER iPO is very reminiscent of the $FB iPO, too much supply. Props to the company for raising 8 billion dollars, but for the average investor, this was not the day to be buying. Even with a bounce in the market to close the week, they couldn’t stop selling $UBER off at the lows of the day.
Earlier, I tweeted the price action on $FB the first few weeks of trading, see below. I think $UBER does something similar:
— Cajun (@RaginCajun) May 10, 2019
My trading action was light this week as we had earnings to digest along with continuous trade war headline risk. $DIS continues to be my favorite name to buy dips, as is the $SLB. $ROKU had some of the best numbers this earnings season, along with $FB. Those are also two names to look to buy dips.
WIth a lot of the hoopla out of the market this week– trade deadline, Earnings, & $UBER iPO, we should be setup well for a great trading week. I’ll put some charts together to watch for the upcoming week, stay tuned….
Have a good weekend all!Comments »