It’s not a must read, it could have been a pamphlet, but some interesting ideas.
Sold $Hood for a little over 3 percent profit to buy some more $Cava that is breaking out of a pseudo cup pattern. I have been waiting for cava to pull above $28.18 and finally did it today. Stop set below bottom of cup.
$Powl looks really nice. On the weekly chart that shows the stairstepper moves on the chart. It is breaking out today on nice volume of 86 percent. I do not have a position because I am all topped up.
$IDCC is breaking out of a flat base on nice volume. Notice the Revenue and earnings growth. This is a really nice company.
Nice. I also added today. The Darvas box theory would basically sell below the bottom of the box. I contemplated $POWL too. Maybe I felt a little burned from having to sell out at a loss. But Bill was said to have bought stocks 2 or 3 times until he could hold them for a long gain, so I need to overcome that kind of thinking. Also, I am getting low on money and have not filled all positions yet - some are too high to add to.
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Here is one to put on the watchlist Pete. $ALAB. It is coming out of it’s IPO doldrums and finally breaking out of a cup like base with really nice volume.
I am just beginning Darvas’s book today.
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Yep, that was on my bottom fishing list.
Some specific stock mentions by Webby in the Friday Video
○ SMH: Webby avoiding chips, waiting for bases to build. If NVDA not working, then chips are not ready.
○ XHB: Webby exited this ETF today, not working like he expects. Hopes it acts better next week and then they will rebuild a position.
○ ITA looking good. Look through all the stocks in that ETF. |
○ CEG base is terrible. Very deep, earlier bases were tight. More red than blue vol in this base. Webby was not willing to sell something to buy this, but he wants to get into it if there is an opportunity.|
○ SPOT: back on swing trader, looking really good. Recent base have been about same depth, 15%. They are also base-on-bases. Webby I need to get back into this one. He loves the product.
○ Take it day by day, interpret, don’t predict. Keep it simple, watch the SPY and the 21dma. If you have laggards, use those as a source of funds for better stocks you like.|
○ Webby considers CAVA as the leader of this market. Can see that it might create some ascending bases that go as deep as the current base. Take a look at other restaurant stocks.
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New stocks on my watchlist. $ALAB $POWL $LPX $NCDL
POWL is now extended beyond the buy zone. ALAB is showing good strength after rising above 50dma. NCLD has some wild swings, IBD might advise to keep your position smaller than usual.
$AMSC had a big pop above the 50dma, can’t find news. Had a nice pop a week or so ago, consolidated in a downward handle and then did this today. Still like $CAVA. $WING creeping up on a breakout and $TXRH doing the same after a pop above the 50dma a few days ago.
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Picked up $ALAB low volume but really like the band of blue bars on volume. Like $Powl a lot too but like you said ran past me. Put a stop on $ALAB right below the 50 day.
Look at this Pete. This is a monthly chart of $App and it has now powered above all distribution. In new territory now. I have a position in $APP.
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I have a position in $INTA also. It is sitting right at the resistance line of $50.17. If it can break out it will no longer have any overhead.
RE $APP is a beautiful thing, it seems like it has to rest, but that does not mean sell. Look how much SMCI ran before puking. In fact, a study of that chart is probably worthwhile. $INTA has some good IBD numbers, COMP of 99 and a 9/9 on the WON screen. Are you buying on the breakout or low in the buy zone?
$ROAD has had a couple of high vol down days, but still above buy zone. Ok if you bought it close to breakout, worrisome if not.
I am itching to buy, but not a ton of cash left. I have a number of IBD buys that only made it to a 50% position before they exited the buy zone. Probably won’t get a chance to fill them. $CAVA is still my fav.
I am tempted to buy $WING as it is just below the buy zone, don’t think that will make me too overweight in restaurants, which are in a poorly ranked group (111/197). $TXRH is getting near a breakout as well, but $WING is what I want.
I made a little on my non-IBD swing trade of VIK, but LLY is just idling. NOV is really going south so I am worried LLY will follow. If I sell it, I might buy $WING
Here are a few others worth watching: PWR, AVGO, NFLX, ANET, TPH, IDCC, MOGA, META, SPOT. All of those have a COMP rating of 95 or higher.
Also: VST, TDG, PJT.
IBD Mentions:
Investors have been infatuated with Magnificent Seven stocks like Nvidia (NVDA) and Tesla (TSLA). But Arista Networks (ANET), GE Aerospace (GE), Spotify Technology (SPOT) and Interactive Brokers (IBKR) are among a cluster of promising names clearing entries.
Netflix (NFLX) and Eli Lilly (LLY) lead this weekend’s watch list of five stocks near buy points that are all enjoying rapid sales growth. In addition to Netflix stock and Eli Lilly, Interactive Brokers (IBKR), Shift4 Payments (FOUR) and Wingstop (WING) round out the list.
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I bought a little high on the breakout. Picked it up at $47.30 so 4 percent over the pivot.
I sold some of my $NVDA today to pick up some $Alab
I have been buying a lot recently, no surprise. Have not had a chance to post much, here are a couple.
Picked up IBKR on the break out and you can see I have been adding since. I was again adding too small, but also did not want to overload before the Fed did their thing. I have a 2/3 position, but it is at the top of the buy range so don’t want to add. IBD numbers are great.
Continue to accumulate $CAVA, Comp 99, RS99, perfect WON score, just a monster. Have a full position, but I could get greedy and make it bigger. Remember those magenta lines I drew in the form of a checkmark? I was looking for that classic pattern after a huge gap up move. Got it, love it.
Here is a brand new position $CRS.
I was able to get to 2/3 position in two buys, which is an improvement for me. But this was after the Fed, so no hesitation. Infrastructure play. #2 group of 197. RS98, Comp98, other numbers strong also perfect WON score. At the top of buy zone, so I won’t add without a good TA reason.
$Zim This one is looking good getting ready to break out. Nice Volume, It went over the pivot point of $28.82 but pulled back a little. Hopefully tomorrow it will break out.
That is always good to see, on the other hand, you have a lot of charts that look pretty strong and if you need cash and you own TMDX, you may think about selling TMDX to buy better.
I sold my swing trade in LLY today for a tiny loss, it was doing nothing. I used the cash to by 1/2 position in WING just under the buy point. It was not an “official” early buy as it was not a bounce off support or the break of a downward trendline, so we will see how that goes.
Pete I am going to sit on my hands with it. It’s fundamentals are spectacular and the stock looks strong. It has a lot further to go. Course if it breaks the 50sma I will change my mind.
I thought about Wing but I think Cava is a better stock. I don’t want to spread myself into the 2nd or 3rd best in a category.
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