Connor Bates
@ConnorJBattes_Associate Portfolio Manager at Revere Asset Management. Personal Trading Journal. Tweets are opinions and not financial advice I [email protected]
Liquid Momentum Rankings ~ Week of October 21st
$CEG $VST Both tight days again today and holding the 21-DMA. These may be ready for expansion out of the flags soon. Good amount of options activity on $VST today
$NVDA Forming a nice flag/handle right below all time highs. Extreme strength correcting less than 5% after a 50% move from the 8/5 lows. Overall, the group is still a little bit lackluster but the creme rises to the top and NVDA has always been the best name to own. $TSM…
$MSTR $SMR The two 🐎’s of the Sectors
Clear leading themes. •Crypto •Nuclear Higher rates seems like a space to be, however all big investors coming out and revealing their position is an indicator that the trade is mainly done for now. Remember Ackman selling out of his position months ago post CNBC.
$VIX Another close back below $20 after a brief push during the day. Still a lot of room for this to cool off and likely provides more momentum for equities. $20 is a good risk on/off pivot for future reference and the amount of volatility to expect.
$MAGS Magnificent Seven ETF Shakeout below the low end of the base yesterday and now breaking out. $TSLA obviously carrying the ETF today.
So far the earnings reactions this quarter have been great. Notable Ones: $TSLA +22% $CLS +18% $LRN +39% $NOW +5% $TSM +10% $DECK +10% Tracking these for future setups and risk on/off for certain stocks and sectors is very good.
$BTBT Another crypto miner name on the verge of a big stage 1 base breakout. No shortage of setups in this area of the market right now. "Bit Digital is engaged in bitcoin mining and various digital asset activities" "The company has recently expanded into high-performance…
$ALAB Starting to breakout from this mini consolidation. First little base that it has formed since the run off the bottom. Like the fact that this is a new company and showing new leadership in the sector. Some very strong moves from IPOs this year ~ $ARM $RDDT $ONOn Etc.
$SMR Flagging very nicely and holding gains from the run extremely well. The volume & power in the initial run tells me this is likely not over.
And these are rare. You only get a handful of them a year and need to capitalize when they present themselves.
The best names are the ultra-liquid high ADR stocks ~ $MSTR $SMCI $NVDA $TSLA Etc.
$MSTR New Highs
$MSTR Another tight inside day and stellar action holding above $200 breakout level. Feels like this wants to explode higher on any $BTC bounce.
$IWM Still in my view this is the final pull-back within the VCP base. You can see how each pull-back has gotten more shallow each time in time and duration. A hard break below the 50-DMA invalidates this thesis But, looking like the final shake before wanting to move higher
$PALL Not many talking about this but worth mentioning a big stage 1 breakout for Palladium today.
The best names are the ultra-liquid high ADR stocks ~ $MSTR $SMCI $NVDA $TSLA Etc.
$TSLA On track for best day ever in over a decade
$TSLA Weekly Breakout retest and blast off 🚀
$TSLA Has to be the most polarizing stock in the market 🤣
I’m up a lot today. Up by more than the original listing price of my house in Hollywood Hills, which I gladly sold to buy more Tesla stock around $120/share last year. And yes that was my winning offer price on December 7th 2020. $TSLA
Per @johnfcarter in Mastering the Trade ~ 82% of gaps on Thursday get filled on a Thursday.
$AFRM tell me what do you see? Amazon Prime Day 2024 $14.2 billionin sales, an 11% increase from 2023. SensePass Adds Affirm Pay-Over-Time. Affirm on Apple Pay. Meet the Affirm Card. Alterra Mountain Company
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