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May Starts With Momentum On The Scans

May starts off with a bang as our Stocklabs scanner begins the month spiting hundreds of tickers for us to view. One can only hope we repeat the same success we had in May 2020. I believe it was the first month in my trading career that I was green every single day throughout the month.

As for today’s action, $PRPO was on the Stocklabs scans all day providing traders that momentum feeling. $OCGN’s momentum also carried over from last week with the ticker continuing on scan to start the week. So which one will run next? because that’s really the only question here. Time will tell, and I will use the real time scans in Stocklabs to help find it. For now, here is Monday’s momentum scan: CLICK HERE FOR CHARTS

Tickers on my radar this week: SLV, X, M, GLD, SLB, DNN, AHT, AG, & MUDS 

Note: Stocklab members make sure to bookmark my two favorite screens below:

DELTA NEAR HIGHS OF DAY

HIGH VOLUME BREAKOUT SCAN

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Apple Computer Rapes In A Pandemic

$AAPL, Apple Computer crushes earnings estimates this quarter, easily beating the streets number, coming in at $1.40 versus the estimate $0.99. $FB, Facebook, is also trading well after earnings, hitting fresh all-time highs in the after-hours session. Will this be enough juice to push the Nasdaq to the moon, or is this the point where we run out of buyers? One thing is for certain, Apple is raping everyone for their stimulus dollars, that was a monster beat.

Besides large cap companies like $AAPL, many of the smaller cap, momentum type plays still have a lot of overhead resistance to work through. This is evident simply by placing a volume profile layer onto of you favorite momentum stock. My Delta scanner inside Stocklabs is starting to show signs of life, but more often than not, I’m still noticing many setups fail. There seems to be a bunch of scared money left in the market with all the hot money shuffling over to Cryptocurrencies, specifically Alt coins.

I myself have been dabbling more and more into Alt coins, aka alternative crypto coins & tokens. I have a recent obsession with $SOL & $SRM, both of which I am dollar cost averaging into. $SOL is easy to purchase via Blockfolio and $SRM can be purchased with the Voyager App, probably one of my new favorite apps for simplicity.

As for stocks to trade tomorrow, I’m running low on conviction plays here. Let’s see if $AAPL can push the NASDAQ to the moon, if not, I’ll continue to find runners on Pancakeswap, but that another subject for another blog.

Stay safe out there…

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Stocks Set To Squeeze Higher

Stocks bounced off our oversold technical reading in stocklabs and managed to close at the highs of the day. The momentum scan is fired up with 200+ names to sort through, so let’s take a look at our next batch of trade ideas.

$AG, a former Rediit favorite and play on Silver, looks ready to run here should we get some help from the shiny metal. If Gold and silver start to see price appreciation, $AG is where you want to be for a squeeze:

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$TME, a name that was caught up in the Archegos’ liquidation sale, and a name I picked up today, looks ready for a few days of green after some relentless selling:

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$FUBO is giving us another entry for a possible high percentage gainer. The fintwit community loves to argue about this name, but I’m just here to ride the momentum and jump off. Our risk is defined with a stop just underneath the recent lows. Lets see if we can power through $20:

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There are a many more great setups in today’s momentum screen, make sure to CLICK HERE FOR FULL SCAN.

Note: Our Premium service Stocklabs is finally here, but only open to existing subs. The Fly might open it back up this year if he’s felling generous. Congrats to everyone who got in, and make sure to upgrade to PRO to access the full real time features. My go-to scan for ideas can be found HERE.

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Standouts From Tonight’s Screen

The Coinbase iPO is upon us and the valuation is literally increasing in size overnight as Bitcoin breaks out to new heights. I’m not sure what to make of the $COIN iPO, simply due to the hype surrounding the name. Yes, I want to own it, but at what cost?

As we head into euphoria for bitcoiners around, I took shares of $GRNQ as it landed on our momentum scan. $LGHL also landed on the scan late in the day and popped nicely in after-hours. Keep those two small gems on watch tomorrow.

$TSLA was the standout Tuesday, and may continue to squeeze like a penny stock due to it’s pretty large stake in Bitcoin. Indeed, owning Tesla is owning Bitcoin. $XPEV also looks good from tonight’s scan (note: make sure to click symbol links for hover charts).

I also opened a new swing in $AI, as the stock appears to finally be finding a floor at the $58-59 level. As long as we hold said levels, I will let this oversold darling work. For today’s full momentum scan: CLICK HERE

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Volume Remains Light, But We Are Still Getting It Out The Muds

The Fly is on Vacation and everyone had their $YETI tumblers this morning to see him off inside Stocklabs. Nobody can beat my Yeti collection, as it is mandatory living in sportsman paradise. Here’s a live look of myself displaying the bear repellent goods:

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Our momentum scanner also displayed the goods this morning, flagging both $YETI and $MUDS early on. $MUDS was a layup trade with the MLB collab news and TopShot movement still going strong. Indeed, there was a crazy amount of people waiting in line this afternoon for a pack of TopShot digital cards priced at $999. Imagine the numbers $MUDS will put up upon launch of MLB digital classic cards #tooEasy.

Other names on Monday’s momentum scan include: $BABA, $TSLA, & $NVDA, all of which look good to go here. $DGLY also popped on late with more news of civil unrest in MN. For Monday’s full scan CLICK HERE.

As for tomorrow’s trade? We’ll wait to see what the Delta screen in Stocklabs spits out (Today was $MUDS). I’d be willing to bet @Benncohen (Stocklabs newest Delta student) and I smoke tomorrow’s trade once again. For more info on our new screener and chat room: CLICK HERE FOR MORE INFO

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Credit Suisse Hwangs Self; Traders Rejoice With Buy Orders

Today felt like we bottomed in Bill Hwang’s favorite stocks. $VIAC, $GSX, and the following names below were finally let free today, free from forced selling that you could literally feel over the past few trading sessions. $GSX provided a great trade for us early in Stocklabs to get the day started green. Check out the carnage below, courtesy of Mr. Hwang and the risk management department at Credit Suisse:

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Other than the usual suspects above, my $TWTR buy from yesterday is off to a great start. The stock hit our VSA scanner all day today and looks poised for a date with fresh highs. Check out the daily chart below:

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Jack Dorsey’s other company, $SQ, also hit the volume scan today and looks poised to break higher (currently, no position):

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The SPAC trade also came alive Tuesday as our Delta scan produced another high probability SPAC win. $MUDS was an easy trade from start to finish today as the acquisition holding company announced it will be merging with Topps Sports collectables. Naturally, this was an easy trade to take advantage of due to the NFT craze. It may have legs too, keep it on watch:

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Tuesday’s full momentum scan at the close can be found HERE.

See you guys at the open…

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