QUICK CORRECTION: At the 8:45 mark of the video, I pulled up the March 2003 bottom instead of the March 2009 bottom. The charts are fairly similar and the point is still the same. My apologies for that error.
Market Summary: The market had another strong week this week and many of the leaders continue to act well. Just as a reminder, this upcoming week is the week of regular cycle option expiration and it tends to lean bullish. If we continue to see strength into this week, I will look to lock in some profits, especially in the stocks that get technically extended. I will update any sells on the Wednesday night video. If we see a down week, I don’t expect the pullbacks to be severe because the leaders are strong, the Fed is on our side, and sentiment remains very poor. One small negative is that last week’s gains occurred on lighter volume. It could be a sign that we are running out of steam but I don’t want to micromanage too much because stocks are acting well. Again, stick with the trend, use the 20-day as a guide for shorter-term traders and use the 10-week as a guide for longer-term holders. As always, learn to make decisions. It helps to build confidence and conviction. Thank you!
Topics covered:
1) 0:00 Announcements/New Focus Lists
2) 4:00 Market Commentary/Index Review: Nasdaq Composite, S&P 500, Russell 2000 and a sentiment tweet/statisctic.
3) 12:00 Stock Review – Leaders: MSFT, AAPL, NFLX, AMZN, NVDA, SGEN, VRTX, DXCM, SHOP, TSLA, NOW, OKTA, VEEV, TEAM, COUP
4) 27:00 Stock Review – General Ideas: DOCU, FSLY, CCXI, NLTX, IPHI, LSCC, KLAC, CRUS, AMD, PRVB, SNDX, CGEN, NBIX, SPCE, CNST, DG, SDGR
5) 38:40 Stock Review – Top 5 Buyable Entries: BTAI, ICAD, AMGN, LITE, PLMR
6) 44:10 Conclusion/Summary