Here are the stock related notes from Friday’s video with Webby. Worth looking at the chart to sync up with what he is saying.
○ NVDA post earnings: Webby will buy more if it goes above $150 but will get out of it if it falls below 50dma.
○ AVGO, group is weak, RS falling, but if it comes back above 50dma, you might consider it.
○ QQEW: when an equal weight is down 2.4% in a day, that’s a bad day.
○ CAVA: the leading non-tech stock. The reaction to earnings (downside reversal) is not what you want to see. Institutions took advantage of the earnings “liquidity event” to unload. You want to back away and wait and see (I don’t think he mean sell, but maybe he does)
○ SPOT - this is what you want to see. A big gap up and then the next day was up. Only down 4% on Friday’s bad market day. Look for other stocks that acted like this
○ AMZN: bruised but not broken today
○ RSP: has been having higher highs and higher lows, if we fall below the $176 level, it will break that trend.
○ XLI: look through all the holdings because the ETF is holding up.
○ XLF looks very strong, look in there for stocks.
○ XLU: utilities had a strong move, recently came back in, and now about to go above 50dma. This is a space to look in.
○ FLUT: holding up after breakout so Webby looking to get into it and will be watching for a good opportunity.
○ SQ: shakeout on earnings with a test of 50dma and upside reversal. So you got rid of weak holders and the risk event of earnings is behind us. Also, the 8-week hold was triggered, indicating this has the potential to be one of those special stocks you treat differently. So now you are looking for a place to get it. We often come down 3 days, and Friday was day 3, then reversed up. That is when you get in. Today’s low is your now stop. Webby feels we are still in a 1999 style market and this is the kind of stock you buy in that market.
○ APP: looks good here is “the leader in heat”. But Webby sold Friday so he could buy SQ, which is a better setup.