Since this summer, safe haven assets have been catching a bid and outperforming across the board.
Investors are paying attention to growth indicators like ISM and PMI data. Other investors are looking at CPI and paying extra-close attention to the Fed…
Here's the US Core Inflation Rate along with the 7-10 Year Treasury Bond ETF $IEF. Since inflation peaked and rolled over in 2022, bonds have been building a massive base:
We love our bottoms-up scans here at All Star Charts. We tend to get really creative when making new universes as we want to be sure they will deliver us the best opportunities the market has to offer.
However, when it comes to this one, it couldn't be any simpler!
With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US stocks.
Welcome to TheJunior Hall of Famers.
This scan is composed of the next 150 largest stocks by market cap, those that come after the top 150 and are thus covered by the Hall of Famers universe. Many of these names will someday graduate and join our original Hall Of Famers list. The idea here is to catch these big trends as early on as possible.
There is no need to overcomplicate things. Market cap is a quality filter at the end of the day. It only grows if price is rising. That's good enough for us.
We're now over 2 years into a bull market, so you know what that means?
It means correlations have come off a lot.
Keep in mind that when volatility spikes, correlations among S&P500 components shoot up to one.
It seems like they all move together, either up or down, depending on how the day goes.
We saw that in 2022 and we most certainly saw that during Covid.
But now that we're 2 years into this bull market, correlations have come off so much that it is easier than ever to find BOTH winners and losers out there.
This is NOT an "everything moves together" market. It's actually the furthest thing from it.
Take a look at SharkNinja, for example, making new all-time highs again this month.
In this scan, we look to identify the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).
Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.
But the scan doesn't just end there.
We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.
The biotech market has a great divide between the haves and have-nots. Some stocks have experienced tremendous markup phases, while others can't seem to get out of the doghouse.
Today, we're covering a biotech stock that has rallied nearly 200% this year.
Despite this rally, the short sellers have continued to add to their positions and are close to carrying their largest short position ever.
With the stock coiling at a shelf of former highs from last summer, we're betting the short sellers are on the verge of unwinding their positions and sparking a short squeeze.
These are the registration details for our Live Monthly Candlestick Strategy Session for Premium Members of All Star Charts.
This month’s Video Conference Call will be held on Wednesday September 4th @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.
It's no secret that we're in a bull market for precious metals.
We made the argument for a new secular uptrend for these shiny rocks in last week's Gold Rush video.
Why do we think this is the case?
Gold futures have been printing fresh all-time highs seemingly every day, and precious metals stocks have followed suit with new highs of their own.
When you go back and study the previous cycles you'll notice that every bull market is characterized by more and more stocks making new highs along with the underlying futures contracts.
So let's take a step back and look at some stocks that are making new highs.
Welcome back to Under the Hood, where we'll cover all the action for the two weeks ended August 30, 2024. This report is published bi-weekly, in rotation with The Minor Leaguers.
What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.
We use a variety of sources to generate the list of most popular names.
There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.