IBD Live QA Summary, Stock Lists For Wednesday, May 12, 2021

Question Answer(s) How many distribution days on the s&p? 6 — more here in our daily Big Picture column — Good morning from Chicago, where it’s Sunny! Happy Wednesday and let’s stay patience, prudent, and diligent. I can hear the San Francisco tone in the harmonica! Yes, the power of love is amazing!!!!!!!!!!!! The power of Huey Lewis and the News indeed, Peter! GM! Hatman UPST Answered live COIN From Hatman Dave: What a strong rebound after nearly touching 500 on 5/6; from a base-building perspective, it certainly needs more time to develop. More here — and Good morning everyone! Welcome back ‘hatman’ Dave! Suffered through Maui, I trust? lol Thanks much! So much suffering, let me tell you! Could barely keep up with the swimming green sea turtles 🙂 On MS are the Indices charts like S&P and Nasdaq delayed by 20 mins? Yes. That’s why a lot of times we’ll use SPY and QQQ. to Irusha – do you know who will take over as “top dog” for MarketSmith after the sale of IBD is finalized? Irusha is helping during the transition. Turns out it was tougher to get rid of him than we realized 🙂 Chris, did/would you rebuy RVLV now back over the 50day? live answered CAN SLIM motto is takin what they’re given cause I’m working for a livin’!! I like it! Gm, when is the next special guest scheduled for on IBD live? Charles Harris in the house, Thursday! Banks, Oils and Metals, are they good hedge against inflation? Oil and metal stocks certainly are acting as beneficiaries of inflation, Nikolaj! wood-energy-corn-copper-financials etc etc etc Check out CPER Chris – following up on David Ryan’s “Sir Dog” names from his call. Would you but IPI down 20%??? We would not — SIR DOG includes names representative of larger themes — should not limit your search to those tickers Cathy Woods funds bought CRSP for first time in a very long time yesterday. Really? Thanks for noting Dariusz. Let’s see how CRSP forms its new base. BUY IPI??? live answered Great job Ibd live team! your daily insights are gold! Thanks Darren! What was Chris’s pick ticker? TECH and VRTV I’ve benefited much from IBD so don’t take this as a complaint…and hindsight is 20/20 too, however but were the 3 new trade recommendations for Swingtrader on Friday sparked by Friday’s Uptrend Resumed status change? In hindsight was that
call questionable, due to below average volume and lower volume than day before and Nasdaq closing in lower half for range? In other words, did volume make that suspect or is price action the main thing (S&P hitting new highs) despite
the volume? It’s one of the things that’s made this market very tricky. We felt we had to increase exposure or risk getting left behind by the S&P 500 even though the Nasdaq composite has been struggling. The IWM, for example, was simply an exposure
call. ‘@ali, please don’t feel like I point out all the issues, I do but i am just all over your pages using everything. Also available to be hired as a remote QA tester lol A lot of longtime devoted readers act just like that! Good to have another QA tester 😉 Maybe a silly question – if the RS line on a stock is an indicator of a stock’s performance relative to the market, how do you calculate RS line on market charts the NASDAQ. Is the NASDAQ RS relative to other markets, something else? Our RS line is a comparison vs. the S&P 500. You can see that the Nasdaq composite has been underperforming the S&P 500 since February. Is UPST actionable? I’m not liking the first 5-min bar. I’d like to see more strength. what Think or swim studies you are using to show standard deviation? Regression line. VRTV is breaking out live answered Chris – are you really suggesting that we allocate to cash – when the Big Picture is “Market in Uptrend” live answered PII crossed 50 day MA live answered Where would I look to find what to short? E.g. if I had shorted RVLV I could have made some money. That might not be a great example, because it might not have signaled that it would go down, but aren’t there some that do signal and go down? Hard to answer this one quickly. We tend to look for things that have been trending below their 50-day lines. Look for a few rises to the 50-day line with reversals finding resistance at the line. Currently own: GS, KRE, NUE, RIO, XEC, and YETI. Model portfolio! 🙂 what do you do with damaged psychology? how do you regain confidence? Take a step back, do some post-analysis, identify mistakes (and what you did right) and write rules of what you need to do correct your mistakes and do more of what’s working. When you wade back in, you can go a little smaller and let some
wins help improve your psychology. Suggested Poll Questions: Under what conditions will the panelists buy on the dips? Added. Thanks! Can you talk about the number of distribution days and how they correlate to increased odds of a correction? They are stacking up in the last month. Added to poll. Thanks! When Chris or Ken talk about sorting a portfolio by gains in order to look for laggards, do they use price gain/loss or percent gain/loss. Because of various position sizes, dollar change and percent change often don’t correlate. Generally we’re using percents. But it is good to be aware of your percent weight as well. When you sort, ideally the heaviest weights should also be your biggest percent gainers. Chris isn’t TECH too thin to focus on It does have enough $ volume but do be aware that the avg. trading volume is on the lower side at 200,000. Lots of concern on the forums about recent Marketsmith software instability. Will Marketsmith support stay with O’Neil Advisors or be part of Dow Jones/IBD? We have a transition service agreement as an interim solution but eventually we’ll be moving our support. Strategy or suggestions re: up w/ cushion on stock which is now touching 20 day line. e.g. FCX, PII FCX is well above the 10-day. I would continue to hold. PII needs to hold the 10-week as we discussed, Irusha, Michigan govt ordered the shutdown of an oil pipeline. If oil pipelines continue to shutdown then oil continues going higher. very good point Brian. thanks. Reversals. How do you tell when you’re looking at something sustainable and when is one worth a try? Added to the poll! Will MarketSmith be moving with IBD to News Corp? Yes! The deal closed last week. Any thoughts on DAR? A really tight chart pattern. I like it a lot. Breaking the downtrend and actionable now. Just checking in on YETI. Earnings on tap tomorrow morning before the open. I love you guy’s! But not in that creeper way, in that co-worker family kind of way. live answered can we look at TREX live answered DPZ: Up over 4%, please review… live answered Can you talk about ASO? It went to 40 yesterday after market hrs live answered DPZ is breaking out on Bill Ackman stake news live answered “So if the MarketSmith 1st 5 min bar is really the 1st ONE minute bar… Is the 2nd bar actually the 1st 5 min bar (being minutes 2-5 or 5-10)?? Is bar 3 minutes 6-10? Or 10-15?” It is a bug across all the platforms: MS, Wonda and Panaray. I’ve banged the table to fix it. But we are also getting close to releasing a completely new chart platform, which will fix this issue. what about DPZ? live answered Could you please look at Academy Sports & Outdoors? live answered Irusha, start eating pizza! Lol. that would be amazing right now. Can we look at LRCX and NVDA? We already discussed LRCX. Not looking too bad, but the chips are now out of favor. NVDA testing the 10-week. I would not be buying. Possible Poll — I am rereading HTMMIS (the older rendition) and he makes it pretty clear that companies with small to medium size capitalization are historically better performers than those with large capitalizations — the book says ideally
it should be fewer than 25 million shares. Obviously that number would need to be adjusted somehow to be more current and accurate for today. Maybe a poll question about market cap and how relevant it is today? I ask because we often discuss
stocks such as Google or Microsoft which seem to me to not really fit into the CANSLIM strategy. Thanks! That was the case back in the 80s. But Bill always followed the market. And when Wall Street starting pushing big caps to great gains, Bill changed course. KEN — UPST — You hit the nail on the head with NEW. So impressive after digging through their most recent quarterly report. Agree, excellent point by Eagle Eye xec or wll live answered CAT is acting better than DE. Good point, Peter; maybe DE action being reined in by upcoming earnings, on 5/21. Irusha – great analysis – It is very difficult to remain disciplined in a market like this – everything I have is down 4-5% but weekly charts look excellent – so it is difficult not get scared and sell. Thanks for your analysis. Thanks Leslie. yes it is very tough to be disciplined right now and if you find yourself losing money, you can also be disciplined by not participating in these markets. Are YETI earning pre market or after market tomorrow? I’m showing before the open tomorrow. Any reason to hold MCD Not for me. The RS line has been lagging since 2019. Do you use the same sell rules for ETFs like QQQ, SPY as stocks? We typically buy them on reversals. So we set the stops near the low of the reversal. I’d like to see Ken or Irusha host IBDL at least once. Not an easy job. Thanks Chris. I bought a little when it crossed the trendline. I hope the market does not roll over. Otherwise it looks great. $DPZ breaking out, thoughts? live answered How do the chip equipment stocks look? live answered Will the gas shortage effect the transports? Like delevery stocks. Short term or long term? Any impact should be short term. Colonial Pipeline will make a decision today on whether it will restart the bulk of its operations. to Team – YALA (Yalla Group) had good earnings report after hours on Monday, up 2% yesterday, and up 8% today. If it continues climbing in good volume today, would you consider an early entry breaking a downtrend from recent highs of $29.48
and $26 – which would be around $24 ?? Thanks! Similar to UPST, my concern is the 50% correction off its high. I’d like to see some tighter action first. Some feedback: I really don’t like the focus in recent times of having “lightening rounds.” It seems to stop the really interesting conversations that are possible when there is a more even flow from stock to stock. That’s often times where some really great a-ha’s are shared. Those are some of the elements that make IBD Live such a valuable resource, not just trying to move through as many tickers as possible. We do say that our lightening rounds are more like “rolling thunder” — we’ve done these for a while but definitely make sure to pack in the educational nuggets throughout! 🙂 DPZ – short term challenge with labor and food costs Agreed Guest suggestion for the show – Richard Moglen. I feel like he is a great role model for young investors to follow, especially given all the flashy high risk popularity among the younger crowds, i.e, Robinhood, Reddit, etc. He really works
hard at his craft and always has great CAN SLIM insight. I wonder if Richard has been considered, Shane. Great suggestion! Thanks Shane Poll Questions today all great. Can you answer more than one!!!!! Totally! Irusha is the Heather Locklear of Melrose Place….LINE OF THE DAY!!! LOL!! Nice one Justin! Can’t wait to hear Charles’s current opionion on CRSP I wonder if Charles would be keeping it on his watchlist. I usually receive IBD live recap after market close. I was wondering if I can see the recording earlier like one hour before market close, so I can take necessary actions in trading. yes — we post the video within an hour after its conclusion to Where is your etf list again? Sorry looked and couldn’t find it. Very bottom of ELY retook the buy point live answered any thoughts on CAT? It seems very stable action and RS line is close to new high live answered RBLX? Let’s see how RBLX handles this pullback, after an extraordinary post-earnings rebound. A few inside days would not hurt at all. — UPST check it out falling like a rock Wild, wild stock Steve indeed Has there been any alerts for leader board in the last 2 weeks? We were doing a lot of trimming on May 4. Yes a short recap of the market would be much appreciated before the close. Could just be an alert. live answered Will the market be back under pressure if Nasdaq closes near the lows? Volume running lower today than yesterday’s positive reversal We’re focusing more on the S&P 500 right now. The Nasdaq composite is already in a corrective phase. Thanks Justin, I tried the FAQ, but can’t find how to turn on Leader Board’s alerts. any suggestions? You need to turn notifications on your phone. Did you try that? How much are these reversals like RBLX driven by short covering? Larry, good Q; MarketSmith shows short interest is currently at 0.6 days’ worth of average volume. The 50-day average volume is 9.7 mil shares, so roughly 6.7 mil shares are sold short. That’s only 4% of the total float of 167.7 mil shares, so perhaps some of the gains yesterday was driven. But how much? Hard to tell right now. There still may be some folks trying to short the stock, since it’s yet to take out the 83.41 high. It looks like UPST is closing the gap, a lightening review would be appreciated. Thanks live answered Thanks Dave, Tony You got it Tony FLR- such an ugly neighbor base! 😉 Ha ha! Larry, good point; actually I agree w/ that remark about the neighbor base, a humongous bottoming base. But you know, the latest base actually sits on top of a wilder consolidation that began forming in the week ended Jan 29. More here
on the base on base. Cheers, Hatman Dave — and The downside of vzio is that their TVs still need the cable boxes unlike Samsung and Roku, but of course, Samsung is a higher quality maker and is more expensive. I think their Smartcast system is their big change to stream directly in their operating system. Allows them to compete better. look at UPST, not looking good after a gap up live answered XLE is up on the day Hanging tough this week, indeed; good point Jeffrey Cheers! Later Ali and Ed or Ken or Justin! any last view on AZEK? Below the buy point heading into earnings. Better to wait until after earnings.. Good Morning: Is this Carter time coming? High inflation since 2008. Gas restriction in the east cost. Hike interest rate. Unemployment still not in the idea condition. Interesting thought here. One question would be this: Is inflation in commodities, wages going to be “transitory” like the Fed likes to use in its statements? Or something longer lasting? This is an important market theme, no doubt about it.
Dave I’m not sure why u have got the market in confirmed uptrend, can u outline why? Answered live MTDR looking strong Answered live RBLX Answered live ZIM pullback 21 buy? Today is a key test of this moving average, no doubt. More on the 21-day line — is DE going to break out this morning? Answered live
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