Trading Saul Stocks

Smci is above the 21 ema and hitting against the 50 day on strong volume.

Andy

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Dell also up big. This could be in anticipation of great NVDA earnings. It broke above the downtrend yesterday on lower volume. This could have been a signal to be watching the stock closely this morning Doing so would have clued a trader into the strong volume and constant ascent as shown in the 5 minute chart below.

Dell had a gap up then a continuous move to the upper right.

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Update on NU. Finished the day nice on 5/15 earnings gap. I am considering an early buy on this one.

Just because I sold out for a better prospect before earnings does not mean I should ignore the good earnings. Nothing wrong with changing you mind when the facts change.

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Good stuff. Thanks.

I actually had a small LEAPs position in MNDY I trimmed on the pop and then rebought half of what I sold on the slight intraday dip. I’ll probably look to add more based on the above.

On IOT, I actually sold some $42 covered calls on ~0.5% worth in our main account for Friday. I’ll probably look to roll for a credit if we’re still in this neighborhood knowing there’s some upward momentum.

I have a very small trading account (mostly LEAPs) outside the account I post at Saul’s. Most of my action in there has been NVDA, SMCI, SNOW, MNDY, and MELI this year. So far, it’s been profitable for me, and I can totally see how this can help especially with entries.

Thanks for the updates.

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CRWD: Mike Webster reviewed Crowdstrike in the Friday video and says it has a cup without handle and his considers that it broke out 2 days ago (as opposed to waiting for the old high of $365 that is $20 away. See the marked up chart for the area of resistance he is talking about. Look at the great growth rankings.

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As noted, I am trying to reallocate my Saul positions based on strength of the chart and IBD fundamentals. Currently AXON, NU and ELF are ugly and get no allocation.

Today I wanted to buy some more MNDY and CRWD and decided the wise thing to do would be to sell out NVDA before earnings. I love my NVDA but I tried to be rational and acknowledge that I have a large core holding from 2016, I have some in my MF portfolios and I have some as an IBD holding with a good profit margin. Therefore, I de-risk a little by selling my “Saul” position and reallocation to MNDY and CRWD. As noted in previous post, I like the chart formation and love the fundamental rankings for CRWD. It technically broke past resistance a couple days ago. I bought an initial position in MNDY on the gap up day and contemplated adding yesterday, so I did it today at a much hiring price. But it did break into the buy zone with 70% vol above average. I will be down 1% by the close, but I just needed to pull the trigger.

IOT and CELH still looking good. Taking a little rest, but still worth holding.

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ELF reported earnings and beat, but…forward guidance was weak and it is off 11% after hours. It was below the 50dma and will now be below the 200dma.

SNOW up 9.5% after hours (not in Saul’s portfolio anymore)

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Elf beat on Sales by 12 percent but you are right they are guiding for 22 percent growth next year. Also their OM margins came down to 5.3 percent due to high SG&A.

Surprised Snow is up because they missed on earnings. But they raised Guidance. Need to listen to both CC.

Andy

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