Posted 17 April 2018 - 11:53 AM
From the Link:
The top in place in January may have ushered in a bear market (which is my overall bias) but right now the market is trying to bounce, and maybe even rally.
Today was a setback in that effort and every day seems precarious but I want to point to my twelve bellwether stocks. Despite last Friday’s bloodbath and today’s drop, they have all held firm. In fact, ten of the stocks have bull flags (see the chart panel below). My bellwether stocks are: TSLA, NFLX, AMZN, BID, TWTR, BIDU, AAPL, GS, FB, NVDA, FSLR, BABA. All twelve are in the black from the beginning of this bounce on open of April 4th.
TSLA is leading the bounce up 17.8% , followed by NFLX up 10.%, TWTR up 9.2% and now FB, with Mark Zuckerberg’s testimony to Congress, up 9.1%.
For more and the chart panel:
As bellwethers these stocks are, so far, saying this market is going to have another surge to the upside soon. Probably by Friday (unless the news gets in the way).
All up so far today except TSLA and FB, two leaders of the rally. Rotation, maybe.
Another update as the follow through from the buy signal on the open of April 4th follows through...
TSLA, the early leader (still up 13%), has stalled but NFLX (on earnings) and TWTR have taken over, and AAPL and NVDA and AMZN keep on chugging. The numbers in the white flags on the lower right of each chart are the cash and percentage gains for each $100K invested.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx.
“I spent half my money on gambling, alcohol and wild women. The other half I wasted,” W.C. Fields.