How Do You Buy This Market?

I’m still having a hard time getting behind stocks as the Dow approaches 30,000, and the NASDAQ approaches 10,000. Today’s hybrid screen left behind a bunch of topish looking candles, and they even faded $TSLA as it traded near $600 this morning. Did you read what I just wrote? Yes, $TSLA almost hit $600. That’s where we are currently. Bet against stocks, lose your life.

The Chinese New Year is upon us, so get ready for more pandemic with the Coronavirus. I’ll be looking to buy dips in tickers like $LAKE, $NVAX, $APT, & $ICCC. As crazy as it sounds, I almost feel more comfortable buying names like $LAKE over $AAPL at a 1.5 trillion valuation. That is not sound financial advice, it just shows you how elevated I think we are.

Here’s a look at today’s top hybrid movers, courtesy of Exodus. When tickers like $WMT start to look the best, it may be time to pump the breaks: CLICK HERE FOR CHARTS.

Cash continues to be king. There will be hell to pay soon.

The market continues to trade higher, refusing to pullback, and squeezing all who bet against it. Today’s momentum comes from none other than $BYND, plant protein, and biotech virus plays– thanks to the outbreak in China.

I myself felt like I had the coronavirus over the weekend, as flu season is hitting hard in Louisiana. Regardless of my condition, the coronavirus is a real threat overseas, and the usual suspects are trading higher because of it: $LAKE, $NVAX, $APT, $BCRX, & $ICCC. There are more tickers within this space, and they all should be monitored this week for large potential trades. As far as our momentum screen in Exodus, here are some tickers to watch: CLICK HERE FOR CHARTS 

This rally is getting a little long in the tooth in my opinion. Today’s momentum screen somewhat confirms it with bearish ETFs popping up, such as $SOXS. The bulls need the semis for a continued move higher, and today’s candle in $SMH looks a little suspect. Gold also found its way back on the screen with tickers such as $AUY, $KGC, $GOLD $NGD, & $NUGT all moving higher by at least 2%.

Enough of the bearish case though, after all this is 2020, where stocks only trade higher. Here are some long ideas to finish the week should we continue to see individual names squeeze higher here: SAVA, ICE, AAOI, SWCH, FSLY, & NVTA (My stock of the year).

Today’s full screen can be found through the following link: CLICK HERE FOR CHARTS

Cannabis stocks started off 2019 with a bang, but sold off hard in the spring. The remainder of 2019 was a house of pain for anyone who invested in the industry. Fast forward to 2020, and the usual suspects are starting to gain momentum.

The easy trade here is likely $MJ. The usual suspects are $GWPH, $CGC, $TLRY, & $CRON. Speculative names like $NBEV are popping off hard. This move for the group will likely carry into the week. Keep the space on watch.

Here are your early runners, courtesy of Exodus: CLICK HERE FOR CHARTS

You can’t stop the bull in 2020, you can only try to contain it. Short sellers find themselves in a world of pain as the year begins, and underinvested mangers find themselves with a big case of FOMO. Hence, another gap higher. How high will we go? Is this the Euphoria phase? And, who is buying $AAPL @ a 1.4 trillion valuation? It doesn’t matter. It’s a run-away market.

Let’s pick things up where we left off on Friday and look at the strongest names on Friday: CLICK HERE FOR CHARTS

Tickers of interest from this screen include: RRC, APHA, BIDU, & DDD. Those tickers are a little less than inspiring, and it almost feels like a stretch looking for long ideas here. I’ll probably sit on my hands once again as the week begins. Congrats to those with heavy long exposure.

It’s a runaway market, until it isn’t. See you guys at the open.

A number of you have asked for a list of stocks to own for 2020, so here are my names:

We will start with Zoom, $ZM, for 2020. Will we even have offices in this upcoming decade? Zoom makes it easier for people to work from home and have meetings virtually anytime/anywhere. This iPO darling of 2019, which hit a high of $107 back in June of ’19, now sits just above the 50 day moving average, a 35% haircut. If you’re looking for growth, this is your name. I’m buying dips all year.

$DIS, Disney needs no explanation. I prefer to buy it when the market corrects. And, I believe we will see a pretty hefty correction in stocks overall in the first quarter of 2020. When blood hits the streets this year, I will be looking to build my position in $DIS.

$TWTR had some serious momentum in 2019 up until the last quarter. I think Twitter slowly builds momentum again in 2020, testing and breaking the old highs of 2019, at 45.86.

I’m also going with $SQ for the new decade. Gone are the days of traditional banks in the upcoming decade. This is Fintech at its finest, laced with bitcoin and cash through their very popular cash app. Bank of America upgraded the stock as we begin the year, they say $75. I say higher, and likely gets bought this year.

I’m looking for oil and energy to have a big year after being left for dead in 2019. $SLB & EOG are my favorites. $SLB gives you a nice fat dividend in the service space, and $EOG gives you the best run independent oil company.

$CGC – Because Weed will take over in the new decade. Best of breed in the space.

My speculative play is $NVTA, which also happens to be my pick for our stock of the year contest (CLICK HERE FOR CONTEST LINK). If you are unfamiliar with the company, start with this video HERE.

Good luck to all in 2020!