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IBD Live QA Summary, Key Stock Lists For Tuesday, Feb. 23, 2021

so glad to see Jason back today- he is my favorite-very knowledgeable and makes us aware of the research needed to be successful-thanks for coming in today 100% to the entire IBD International Team Live from Minneapolis – Good Morning! Will today be terrible or terrific? We will be watching for the “tell”. Hey Scott, we sure will be “I need a Miracle!! 😀 Thanks!” Ha ha! Great Song!! Good morning! Thanks Jaiya! Good morning. GM Taher! Good morning from Chicago and happy Tuesday! Hey Peter! Perfect song for this morning. Glad you think so GM from Baltimore! Almost exactly a year ago! Will this be Bug-Out Tuesday? Hey Blaine! Good Morning I’m thankful for the advice from IBD Live and David Ryan to be prepared for the market which we are now experiencing. Nice I read : unusual option activity in DKNG. Looks like that was Feb 26 calls but Feb expiration was the 20th. Why do they list Feb 26 ? Can these be bought & sold even though not a 3rd Friday ? Many stocks offer weekly option expirations in addition to monthly expirations. thanks for the back to back Dead! “I Need A Miracle” and “Touch of Grey!” If the visual noise continues I’ll drop IBD Live. Daniel, thanks for joining us. What do you exactly mean by “visual noise”? Hat Man Dave Touch of Grey! Really brings back memories! Great song, great band! live answered PLTR breakout was 22.50. Would you buy if it reaches that ? No way. Needs to form a new base and based on what the market’s doing, it could take a while. Like the new info feed on the pre show! Glad you liked it! Nio 200 day is 28.. Do you think it will go there ? live answered Is the dead really that Grateful? ha ha! Would you wait until the end of the week to see the market direction and if technology does not recover exit all positions ? live answered jason finally live answered GM from Sunny Cape Cod….finally a break from the cold Good deal Phil To Jason – Good Morning! Good to have you on this morning! Totally! Good Morning- Chris that hedge is looking pretty good today live answered ZI had a decent earnings report. Its up pre market live answered Morning all. Can we discuss the some high fliers please – AI, PTON, NIO, TME live answered Hi good morning! Do you suggest acting in pre/after markets if sell points, or entry points reach the expected points? Thanks! We typically like looking at the action in the regular session to base our buy/sell decisions of off GM All – great lead-in video. Love it. Kudos to the team that put this together. Questions on infrastructure theme – what about two stocks: GTLS and NUE (steel)? GTLS second test of 10-week line since Oct. breakout. Looks good. NUE….5% buy zone from 58.62 buy point stretches to 61.55. CRSP has been a disaster since your other teammate was on your show. Stock has been crushed – any thoughts at these levels live answered Very interested in Jason’s thoughts on VEEV. He mentioned it was one of his focus stocks last time he was on IBDLive. Thanks!! live answered If I missed the notice to get sqqq should I wait to buy until the end of day? Hedges can be tricky and timing is crucial. Yesterday was a great day to do it. But we’ll have to see what Chris thinks about that. Keep an eye on QQQ’s intraday action today is this vertical violation and should we sell everything live answered Good morning, grateful for all of you! So.Are.We. GM Ken Ali Justin and Rachel Good morning Phil! sivb Jasonpls I do not follow or cover this stock. But, I can give you a technical overview. ok to buy full sqqq position this morning or it is too late? live answered David said he had Li Auto last week as it closed below the 50 day. Has he sold the position? What were his signals for getting in and getting out? Hi Ron, I sold most shares due to the 7% loss cutting sell rule. I am deciding how long to hold the shares I bought at 20, 21 a share. Thanks for asking! Hello all Love the show…Can you maybe talk Amazon ??? Off lows today, but looks vulnerable — like a lot of other large-cap tech stocks at the moment. Good to see you again Jason – different background than the last time you were here! Looks like you’re a reader. [Thumbs up emoji] Hi, Paul. Yes, I love reading, especially about the markets. BCRX Nice to see this return to double digits. Many biotechs doing pretty well. I tried to put a stop loss order in for SHLS on the Schwab platform and they did not allow stop loss, any idea why. Thanks I would contact their support team to get more info FCX live answered Please take a look at NIO live answered Welcome back Jason. A fellow East Coaster. How have you been? Visited New York last month from Boston. Brought back all the memories from my childhood. NY is great. I love the city and the financial environment. is it too late to sell tech (growth) stocks? If you’re seeing sell signals — you should be trimming your positions if not exiting. Depends on the stock and its action in particular In IBD data tables, I see 197 Industry Group Rankings, but I do not see the eleven sector rankings. Where can I find that in IBD . Go to the smart NYSE and Nasdaq tables listing on the data tables page 🙂 Any thoughts on NIO, falling hard with TSLA – what’s happening with EV stocks? Speculative growth names with high valuations are getting hit very hard. EV stocks are definitely part of that. TSLA many of us own it. Hat Man please cover this stock as i know you have a position. Monday’s break of the 50-day line was a selling signal, either trim or sell position outright. Jason – SHOP is down a lot after hours yesterday – it appears stock offering ? Is it time to sell ? Holding support at 50-day line, which basically corresponds with the stock’s last buy area. ZI we did not have the buffer before earnings, what was the logic on holding this one? We had a buffer until the final hour of trading. Selling really picked up late. Holders would not have been wrong for selling. We were focused on adding SQQQ as a hedge. How long till we have Mike Webster as a guest? He said as soon as his firm allows him, he’ll come on. So we shall see! Good morning! Currently have a few stocks that broke through their 21 day line yesterday. All are down again today. Want to lock in some profits but have seen so many short corrections lately that I am hesitant to sell. Any thoughts? A couple stocks in particular are UPST, PINS and CRWD. Thanks for all you do. Have a great day! We obviously can’t predict the future, but we’ve said this time feels a bit different. We’ll have to see how today’s session goes, of course. As Scott said earlier, selling doesn’t have to be all or nothing. You can trim and wait to see if those stocks see decisive breaks below their 50-day/10-week before selling more. For an IPO like upstart which doesn’t have a 50-day, look for another support level on the chart. Maybe 60? Ask yourself how comfortable you’d be to see these stocks close below those key levels if you had your entire positions intact What is a vertical violation? (definition) “Justin wrote about vertical violations recently in Investor’s Corner: https://www.investors.com/how-to-invest/investors-corner/vertical-violations-help-avoid-bear-market/” Can Jason talk about technical indicators either in stocks or the market to know to lighten up? Were there specific chart patterns he noticed to lessen positions in the better quality stocks? live answered What would be the buy signal to pick up some TQQQ on this pullback? Potentially a powerful upside reversal — but it’s looking more like a vertical violation at the moment. That could signal more pain ahead in the short term. It’s still early, though… please explain what hedge with sqqq means Please check out our hedging resources over at investors.com/LiveFAQ Should be sell now or wait till bounce? If we are seeing sell signals, we like to at least start trimming positions Scott – is there a Market Smith screen for relative strength? We have the RS line blue dot list and you can create your own custom screens, we walked through the process during yesterday’s show 🙂 Why is DIS up? It’s in the group of “reopen” stocks along with airlines, cruise line operators, etc. But if a stock is down 8% you do get out right? It is only for those that are still not down that limit? That is one of our cardinal sell rules. Potentially the one exception is if you sized your position off the 10-week line and your overall risk to your portfolio is very minimal; potentially you could withstand a loss of up to 10% to allow for a decisive break of the 10-week line by the end of the week. But that doesn’t mean you shouldn’t be scaling out before that point How much longer can this go on????? It might end at this very moment, it could go on for a few days or weeks, or it could go on for months. Can you guys add “Likes” on the Q&A? might gravitate levels of interest on any given topic That’s something that would need to be added from Zoom’s end, and as of right now I’m not aware of that functionality. But it’s a good idea! would you comment on the ARK funds run by Cathy Wood, which are all down around 10% today One of many bubbles in the stock market headed into this week. Is this Panic selling? Stay put or buy for long term We would not be buying on a day like today. We don’t know if this will be a short-lived correction or something more severe just yet ALI – I recently purchased Bill’s, “How To Make Money Selling Stocks Short” from Wiley publishing for $ 24. AMZN was selling used copies for over $ 70 . . . and new copies for over $ 900. Crazy! Point being, listeners can save money purchasing book from suppliers outside of AMZN. Love the book and the size of the charts in the book!!! Thanks for the info! I was seeing it on Amazon for a reasonable price, so that’s definitely a shame! Totally against price gouging. Just like we’re selective with our stock purchases, we definitely advise the audience to be selective with their book prices as well before purchasing 🙂 What do you think is driving the NASDAQ down so fast? Rising bond yields aren’t helping. But the Nasdaq had been extended and there were a LOT of highly valued story stocks that had been surging for so long. are we in a market crash? Still feels like under pressure to me, especially with the S&P 500 still holding above its 50-day line. David, if this is your chart, will you click on your chart legend to see your MA’s? Check out investors.com/LiveFAQ for a look at the different moving averages we use (granted, Dave’s TOS charts were a bit different this a.m.) Doesn’t SPY now look similar to end of January ’21? It bounced there at the 50 day. Tech definitely getting hit hard in this selloff while other areas holding up better Morning- is Lucid motors an IPO? It’s going to be a SPAC via CCIV. Finally confirmed today after running up on the world’s worst-kept secret. Can I hold SQQQ overnight? You most definitely can. But if hedging is new for you, I recommend checking out our hedging resources first at investors.com/LiveFAQ. Buying leveraged ETFs can be tricky and timing is key. GM, how much % protection do you buy in SQQQ? Chris said it’s too late to hedge your entire portfolio but investors could buy a full position (10% of the portfolio) or a double position (20% of the portfolio) but we recommend checking out our hedging resources over at investors.com/LiveFAQ if hedging is new to you! FFTY down 6% any comment? Growth stocks are getting crushed. Ali, I got Bill’s book “How to Make Money Selling Stocks Short” for $10.00 thru AbeBooks Nice job! Can you look at BIDU Pretty amazing that it’s still holding above the 21-day exponential moving average. IWM a buy here? Doesn’t seem like a good time to be buying anything. what are those studies that make up this chart? Hi Cassandra! We have details on all the moving averages we use over at investors.com/LiveFAQ. You’re also seeing IBD’s pattern recognition and buy/sell/profit zones on many of these charts After this correction what is IBD process to buy the stocks. IS it after Nasdaq closing above 50 day MA? Depending on how long the correction lasts and how much damage is done to top stocks, the first way we may get exposure when the market when we see a technical signal of a new uptrend might be through an ETF like TQQQ, QLD, etc. That’s because stocks may not be entering proper buy zones on the first day of a new rally. Check out our market timing resources at investors.com/LiveFAQ for more details on the technical signals we look for when determining whether a new market rally has begun can you please talk about preparing the stocks to buy after this correction? We don’t know if this will be a correction. Maybe we bounce right from here. But, in general, if there is a correction that lasts a few weeks/months, look for stocks with rising/record relative strength lines. As market exits corrections, these are likely to be the next rally’s leaders. Should you switch to market in correction or under pressure? A decision will be made near the close. Obviously the market action does not look promising. Where can I find the Jason Thomson webinar on “how to buy stocks in the bottom of the pattern” Maybe it’s here, in our MarketSmith webinar archive? https://marketsmith.investors.com/resources/webinars I have not seen Jason’s presentation do you know where that is and how I can see it? Thanks Maybe it’s here, in our MarketSmith webinar archive? https://marketsmith.investors.com/resources/webinars If not, he may have been referring to his presentation for the Founders Club. You can find more info on that at investors.com in our “store” area How does Jason hold/buy/sell around earnings? In general. Thanks!! live answered Morning. I picked up a copy of Bill’s latest book. I noticed that the 100 examples of winners were all weekly charts. Can you discuss whether it is better to make buy decisions using weekly or daily charts? Bill did almost all his analysis on weekly charts. We use daily charts to find early buy and sell points. But the weekly is where we focus on stocks that we want to hold. What is the criteria for the market to be in correction? Check out investors.com/LiveFAQ or the Learn section of our site for more information What are your feelings about AMZN and Paypal? PYPL looks a lot better than AMZN at this point. Impressive how PYPL is still holding above its 50-day line. Can Jason discuss his thoughts on VEEV? live answered Thanks Alissa! Very helpful as usual. Have a great day! You too, J&J! Good morning – would you open a small position in SHOP today? I wouldn’t be buying today. But if you want to try it, it’s only 5% above the 50-day. So your risk is limited. Where does he have his green line, and is it EMA? That is the 21-day EMA. Go to investors.com/LiveFAQ for details on the moving averages we use on our MarketSmith charts Yes, I understand. 21 day EMA. TY You’re welcome! May you play the song I WON’T BACK DOWN by Tom Petty tomorrow? Well we called the follow-through day after the coronavirus crash a “won’t back down” follow-through day. So we may have to wait til a future follow-through day to play it, if it makes sense to do it 🙂 FB??? Making a stand at its 200-day moving average, just like it did in January. Alisa – on Regression lines the anchor points listed in FAQ is 04/06/20 and 11/04/20 yes indeed! Does i need a revision They are correct 🙂 What’s the difference between the 10 week and 50 DMA? Are they identical? I’ve been confused as to how to input the 10 week MA onto my chart. They are similar but not the same. the 50-day avg is the average of 50 days. The 10-week avg. is the avg. if 10 weeks. But 10 weeks doesn’t always equal 50 days – especially in the holiday season. In the past 10 weeks there have been several 4-day weeks. Hi Guys, what is the put to call ratio so far for IBD?? We use the put call ratio as an indicator for market bottoms rather than tops. Margin debt is used to flag market tops and we were noting in Friday’s stock market today video that it was getting quite elevated. But the Nasdaq is trying to make a stand here Ali nice job hosting yesterday Brian D You’re too kind! what should the new Anchor points for Regression lines and is there some place other than FAQ that shows the regression lines configuration we use. Is the think and swim configuration shown in FAQ still valid As of now, yes, those are still the anchor points we’re using. A severe correction could potentially change that I think Bitcoin is promoted as a replacement for gold to hedge against corrections. However, it is falling in concert with the market this week. What do you think? Bitcoin is a highly valued speculative asset that is worth what people think it is worth – or what people think OTHER people will think it’s worth. In my opinion, cryptocurrencies may have a future, but Bitcoin itself – by its design – is unusually slow and incredibly energy intensive. Ali, will the IBD Live opening video be shared for replay as part of the edited Q&A later today? That video is at investors.com/videos in our “How To Trade Stocks With IBD Tools” playlist! Alisa – There is some place where we discussed the configuration of regression lines and that is documented. Can you point me to it . I have seen the FAQ links to Think and swim but we had something more . Appreciate if you can point me to it Are you wanting more information on why we chose those dates as our anchor points, or are you wanting more information on how to set up your own regression channel lines on your own charts? anyone have an answer for this question? re marketsmith – why can we not always see fund ownership when researching “ownership and funds” [email protected] it’s a reporting issue with the SEC law for when fund are req’d to report their positions Scott- great advice, wise words and spot on. I’ve been through these rotations and I have my mantra of not panicking. I buy great companies with a long term spin. It works. Hold for the long term. If you trade vigorously, I can see how you have to sell quickly. Breathe…. TY Charlie Munger quote “good investing requires a weird combination of patience and aggression.” Alisa – Sorry !! I know you have discussed regression lines quite often – but could not set it up earlier as i have recently moved to Think or swim platform and need help in seeing the Configuration we have set up like the standard deviation and other configuration if you can help Not a problem! The dates of 4/6/20 and 11/4/20 represent follow-through days in the market and the channel created using those anchors contains the highs and lows of market’s move since the coronavirus crash. We use half and full standard deviations above and below the regression line. Here’s a link from thinkorswim that explains how to set up a regression channel line: https://tlc.thinkorswim.com/center/reference/Drawings/Regression/Regression-Channel What companies is Jason researching now? He’s highlighted AFRM, TDOC and SHOP as three names to keep an eye on (not actionable right now) what is best existing screen of stocks outperforming in this current correction? Check out the RS line blue dot list Can you use CAN SLIM to buy SQQQ We keep a close watch on technical levels for QQQ to help determine a hedge with SQQQ. Check out our webinar with Chris and Justin on hedging linked at investors.com/LiveFAQ for more info! when do u remove the hedge. Chris has said in the past, including recent shows, that he’s looking for a strong market signal and keeping an eye on QQQ to remove the hedge. I look for a buy signal on the daily chart, usually a reversal in a shallow correction or a follow-through day in a deeper correction. I’m looking at buying Bill’s book: what’s the difference between the green cover and orange cover? I know that Justin has mentioned both. The orange cover is the one the staff uses/references Scott, can you talk about the ARK funds today? live answered Hi, how to manage the exits when most of the stocks gap down so big as today for example? Selling doesn’t have to be all or nothing. We like waiting for the first few minutes, and even then you can start trimming and see how the stock acts the remainder of the day/week If I sell when price broke out the 50-day, how many % away from 50-day should be wait until I actually sell it? We like using a decisive close below the 10-week (2% or more) by the end of the week, so near Friday’s close, as one of our key sell signals DRI, what do you think of treating DRI as a position trade as opposed to a swing trade (bought at 130.12)? seems like a perfectly reasonable position trade since you got it close to its last buy point of 128.54 Where are the entry prices for the Leaderboard positions? You can check out the daily and weekly chart annotations for info on entries CHRIS and JUSTIN — Does a short term market pull back pose a challenging environment for SwingTrader? Depends on how it unfolds. A quick shakeout and recovery is tough on us. If it lasts over a couple days or weeks we tend to do well. We sit out the rough stuff and then if we can play the reversals we can get a lot of outperformance. Hi- Where on marketsmith charts either on the weekly or daily chart can I find the the 50 day average dollar volume? Take the average daily volume and multiply it by the price ED: Yesterday you mentioned the TSLA move down could go to 600! I though it might take a while, but ONE DAY. Well done. Wasn’t making a prediction, just noting that there wasn’t any obvious support area above the prior base around 500. 600 is a nice round number. Looks like today’s low of 619 might be a new key level. Where can u see what arkk is buying? ARK releases that info every day on its funds’ buys/sells. You can probably sign up for it. Also, if you search in Twitter a few hours after the close for ARK and, say $TSLA or $EXAS, you’ll probably get posts showing those daily buys/sells. If you have a nice profit in ARKK, how would you handle now? Would sell at least 1/2 now, and I would sell the rest on break of today’s low (126.82) I watched that and learned about SQQQ. It was a great presentation! Glad you found it helpful. Hi Dave, why does the price on Market Smith often not match the price I see on Think or Swim? We have Nasdaq Last Sale for the live price feed, so if the last trade was on a different platform the prices will be slightly different. ARKK ANY LEVEL WHERE TO sell i got at127 today great trade. If it were me, I’d take the gain around 138. Jason refers to reopening list, what does that mean Companies set to benefit as the economy continues to reopen Jason, other than TSLA, what do you think of the EV space I like the EV space and think it has several large tailwinds. Especially with the ESH movement behind it. Can Jason elaborate on how he develops and updates his CORE COVERAGE LIST? 50 stock that I believe in fundamentally. Update it based off earnings results and mgmt expectations. would you treat ARKW same as ARKK ? down 8% early trimmed to -3% Impressive bounce off the 50-day line for ARKW. Looks a lot better than ARKK at this point MRVI? Wild action like a lot of stocks today. Nice recovery. If you held it through today’s morning dive and have a decent cushion, you could probably hold it. But don’t see a good buying opportunity. Earnings are a week. Thank you Alissa. Your wisdom is incredible. & constant governance reminding others of naming tickers & reminding all of FAQ resources You are too kind, Theodore! We’re all glad to help our audience as much as we can 🙂 do you cover bitcoin related stocks. eg. riot, mara or bitcoin itself? Not daily but we do at times. We primarily look at GBTC. The pullback to the 50-day around 28 was an aggressive entry but definitely a level one could have entered a position Do we have to wait for a follow through day for next leg? Or this doesn’t fit the criteria? We need a FTD after a market correction. We’re in a confirmed uptrend as of Monday. Wouldn’t shock me to see IBD shift to market under pressure, but if we closed *here* we wouldn’t call a correction. Good morning! Thanks Dave for making me feel smart. I asked that question about TSLA vs Bitcoin the other day. MSTR borrowed money recently to buy more Bitcoin. MSTR is REALLY partying like it’s 1999! Check out that monthly chart… You are absolutely right! GREAT advice Jason, thank you so much. Great to hear Can we look at V as a reopening trade? Let’s see this one Wed. I love how David analyzes stocks. Great teaching Hat Man! Thank you! You’re very welcome! Is PANW actionable? Let’s talk about this one on Wed.! Great comments Jason. Starting “My Core 50” now I agree! Great to have Jason with us today ! Don’t you think? Great, we appreciate this Agreed – Jason is a great asset to the show. Yay!
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