OT: IBD Uptrend Resumes

You could feel it coming from our recent state of “uptrend under pressure”. I kept seeing all these great setups and good breakouts. We were having consecutive up days, but the volume was not always there, but finally it adds up to this. My two keys to market health are the price&volume of up and down days (are big boys buying or selling), and the action of leading stocks. All looking up now.

This board does not need to pay much attention to market trends, just buying companies we love at prices that seem relatively better than current holds. Saul does amazing things with rebalancing and his “spidey” sense. I like to add some price/volume analysis to help me out sometimes.

Since 5/4 I have added to positions or initiated on a number of good breakouts on growth stocks with good fundamentals.

AAXN, COUP, NKTR (no break out, but thank HeartMD), TWLO (before breakout, thank Saul), PSTG, NTNX, ServiceNow (NOW) (thanks me. I really love their product for IT Service Management, it is a true rule breaker, cloud-based subscription service), SQ, GDOT, EPAM.

ULTI is on my hot watch list and ready to go. Another nice cloud SaaS HR/ERM subscription based tool (which my company uses and I like compared to our old tools). Dig around, you will like it.

The Nasdaq closed above its 50-day line for a fifth consecutive session, while the S&P 500 did so in the past two sessions.

Another good sign of strength (institutions are not too scared and certainly not dumping at the moment)

we are carrying 2 distrubtion days on NAZ and 4 on S&P

Among IBD’s 197 industry groups, gainers led losers by an 11-2 ratio.

Breakouts picked up the pace Thursday.

Stocks clearing buy points in strong volume included debit-card provider Green Dot (GDOT), up 14%; Carrizo Oil & Gas (CRZO), up 4%; and tech outsourcer Epam Systems (EPAM), up 3%.

Two stocks broke out but then retreated to close under the buy point. They were telecom infrastructure play Ubiquiti Networks (UBNT), up 11%; and work management software developer Upland Software (UPLD), up 8%

I already owned enough UBNT at low prices, so did not add. I like Upland (UPLD), little Austin-based company providing subscription SaaS services from the clould like Paycom, Workday, UltiPro software. Lots of competition but keep beating on earnings. Worth checking out as a test position.


Dude - add Box to that list! (And TTD on after hours basis)! Another O&G play in break out is WPX Energy, in Cyber Security Palo Alto has now broken above and held above 200 at an all time high.

Abiomed is also in break out but I would describe that as over extended as opposed to break out as it has been in break out for a whole year and just keeps going with P/E of 175 (Revenue growth is 35% but with leverage, earnings growth is 50-75%).

I will check out Upland but also want to monitor Zuora for an entry.

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Oh and FWIW - for those of you interested enough to invest in China stocks then the number one play on the top Chinese household spending priority - children’s education, TAL Education Systems is at an all time high after breaking out of a rather long consolidation period. All the other China education stocks in HK and US are doing very well as a sector.


Hopefully a case of great minds thinking alike … I also opened a new position in COUP. But you seem to have missed my other new company, Aspen Tech (AZPN) :slight_smile:

Now if somebody would just loan me a million, I need more OKTA. AYX had better recover soon, or they will have to be sold to fund my lust for more OKTA. NKTR, ditto, and be quick about it. OKTA appears headed for orbit and Raptor is grounded for lack of cash.