More Earnings Gaps. ARM, NET, MPWR
Hi everyone,
I hope you are having a great Thursday!
In this post I’ll concisely share my thoughts on the day’s action. And share a bunch of stock charts that caught my eye.
Now let’s dive in ↓
Market Action
The QQQ is trending. Not much progress today
IWO pushed higher and is moving up towards base highs
Trends ( Based on QQQ)
Shortest - 5 Day SMA - Up - Above Rising
Short-term - 21 ema - Up - Above Rising
Intermediate term - 50 sma - Up - Above Rising
Longterm - 200 sma - Up - Above Rising
Group/Themes Action
Many growth names acting well. Bit of selling into the close
Daily Performance charts:
Key Stocks in Deepvue
PLTR another follow on day.
SMCI still trending but a bit wedgy past few days
ARM huge move
FOUR tight
STNE tight
LABU tight
NET earnings gap post market
NXT forming a post earnings range
TWST set up
CFLT gap
Market Thoughts
Still see setups out there, see how we close out the week tomorrow
Reminder:
Risk Management is Paramount
Refuse to enter randomly without managing risk and wait for the spots to develop, they will. Stocks during strong moves always pull back to the 21 ema, 50 sma multiple times. Look for a tight and logical entry point.
Have patience, focus on the best stocks with the greatest potential. These will telegraph the rest of the market.
Take it day by day and manage risk along the way. Be ready for anything
What are your thoughts on today’s action? (Leave a comment below)
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Cheers!
Richard
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Richard! Respect, you are such a clever, hard-working guy in this business. I follow you for a long time, I think from the very beginning of your interviews and a long time before the Trader Lion Cooperation. Your Newsletter, the interviews, Deepvue!!. Conferences... Its really unbelievable with what quality and perfection you are doing this job. I think you‘ll be – very sure – one of the big in the scene (You are already.) outside. I have done the Masterclass with Oliver and you. Also... very professional. Your questions in the interviews are the core questions, everybody has. Thanks for all you have done on my journey. I reached to get an ‘professional paid expert‘ in a german trading platform (I was communication designer/concept/advertising). But the fascination for trading changed my live completely and I actually have a very consistent performance curve in my account. And very much was reached with your stuff. Thanks and have a great day! (For the newsletter, a boost for you and the subscribers could be something like ‘pick of the day‘ for tomorrow – just to watch, not as trading signal... But also okay to keep it like it is ;-) Cheers, Dirk
That 20 for 1 reverse split on LABU sure makes the volume on that chart looks funny. It makes it look like all the price changes since that somehow happened with no volume.