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IBD Live Q&A And Two Key Stock Lists For July 8, 2021

Chris nice picture – channel Islands? or Mexico fishing spot? It’s Bahia de los Angeles, which is on the east coast of Baja. It’s where I was fishing last week. Good morning team, looks like we’re headed into rough waters today. Thoughts on HCA and BIO please? Can we also look at FYBR, an IPO? Thanks for these suggestions, Karine! Looks like the entry for BIO was over the 657 area, while a good entry for fybr was over the 26 level. For IPOs, we prefer to see strong top-line growth Any news on SNAP drop yesterday? I’m not seeing any news. But not looking good! Good morning! Can you please post the dates when David Ryan will attend? Thank you Hey Jason! He’s on every Tuesday this month 🙂 AND he’ll also be on next Wednesday alongside Mark Minervini! Any of you putting on SQQQ this morning? If the market tries to rally and then rolls over we will probably put SQQQ on Leaderboard. Are energy futures down as well? Or are is IBD worried about QQQ? Oil is down a fraction today after falling the prior two days. Ticker for Tempo sealy? TPX tickers symbols please TPX and OSTK Where can one find on the IBD website things like like PPI CPI other indicators? https://research.investors.com/economic-calendar/ Harold, take a look at 11/09/20 on TPX. Today’s action might mimic that. Interesting, pattern looks the same also. Thanks for the heads up! Hi gang, back from a 3 week absence moving. YUK! Can you tell me where the IBD Live previous episodes can be found? They seem to have disappeared. Thanks Welcome back! We keep an archive of several weeks worth of shows at investors.com/IBDLive. You will see a video player with the show, and then thumbnail images of prior episodes underneath in a carousel. Sometimes it takes a little bit of time for that section of the page to load since it’s loading heavy video files. If you need more help, please reach out to our customer success team! https://askinvestorhelp.force.com/s/ Testing the 10-day average and alarm bells are being sounded? Well, we’ll see how the day goes but we were saying we were due for a pullback. Who knows how sharp it’ll be or how long it’ll last! Thank you, Alissa! David and Mark are great complements to the great team IBD Live! Yes, looking forward to having them back on! Should we let go of DIDI? Hi Mae! We were never in DIDI since we don’t buy IPO stocks on their first day(s) of trade — we always wait for an IPO base to form. Can even use an early entry but we want to see the stock cross above a prior resistance level! Holding and hoping is not our style either — it took FB an entire year for it to get back to its levels it was trading in its first week of trade. you could be putting your money to work somewhere else what do you mean by meme stock? The reddit crowd NEGG why is this being discussed as a canslim trade? It’s not a CAN SLIM trade, but a reflection of the recurring speculation in the market. so when should I buy some bargains like RH,TQQQ, etc to take advantage of the dip…unless this will be catching a falling knife. How do I know when to go shopping? Wait for the reversal. Usually this takes a few days when the market is extended. Thank you Alissa. It was crazy not keeping up. I lightened up considerably before that to take the pressure off 😀 I bet!! Ally mentioned an email went out with the list of guests for this month – haven’t seen it yet. Is the list posted somewhere? Hey Earl! I will add it to our FAQ page today when I get a chance. But in the meantime, we have Brian Shannon back this Friday (tomorrow), David Ryan on tuesday (every Tuesday this month & the forseeable future) and Mark Minervini AND David Ryan next Wednesday. 🙂 Is today to start buying ? like NVDA, PYPL ??? NVDA is still way extended from a proper buy point. We said PYPL was actionable yesterday — but in terms of buying now, many of us don’t like buying when the market is having a day like today. We want the market tide in our favor. But we’ll have to see how the day unfolds Could we look at FIGS? Chris said the other day he’s keeping an eye on the 21-day as a key support level for FIGS what to do if we got stopped out at open ? We prefer setting alerts vs. stops, that way we can monitor the intraday chart and make a judgement call from there Thoughts on AMAT’s failed breakout and hard selloff? live answered Good morning, All: Love this program and your ability to keep me from walking off the cliff. What is going on with CARV (Carver Bank)? Is it a meme stock? Sure looks like it. We wouldn’t be buying here. Too risky Once Chart AMAT, seems to be rolling over. While volume has been less than average . . . going to be interesting to see if it can hold its 50-day and 10-wk lines. It upside volume has been disappointing and may have foreshadowed future weakness. live answered CROX down 5% Test of the 50-day will be key what could be a good inverse ETF for today’s action? SQQQ if your market follows the Nasdaq. MRNA showing strength in a red market live answered would it be a good move to take some gains in NVDA live answered MRNA staging u/s reversal in a handle live answered On AMAT where would you buy it Unless it reverses and gets back above the 50-day, looks like it needs more time Hi Panel, do you think it make sense to wait till the end of the week if I am stuck in gaped down/beaten stocks like QFIN or FUTU? Thank you When we wait until the end of the week, that’s for a stock that we’re up on that’s testing support/close to the 10-week line AND we’re waiting for the end of the week for our *final* sell. We usually will be trimming our positions throughout the week as well signals present themselves. With big gap-downs below the 10-week line, and if you’re down 7-8%, those are two major sell signals. And if the stock is well below the 10-week line, may not make sense to hold until Friday as our research shows a break below that level on a weekly basis usually means the stock is ready for a break or the move is over RH is really starting to hurt my swing trader based portfolio; what are we going to do with it Justin? Thanks! live answered MRNA shrugging off the markets today live answered MS are you guys having problems? I’m not aware of any — what kind of problem are you having? MRNA undercut and retook the rising 21d EMA and 10d SMA’s. live answered MRNA came off the 21 day live answered Does the team have any ideas for index hedges against long positions? We usually use SQQQ. Holding off for now because the market is rallying off the lows. Looks like there was a stock buy back form 4 filed for MRNA Thanks, Shane! inmd reverse from 50 day Looks good. I’m debating whether to add. Hey Team! Where’s the Music (Hat) Man? On vacay this week whats going on with DEN? Hopefully it’s finally starting to form a proper base. But if you own it, we’ve been saying the past few days to lock in some gains Right now the IBD team seems to be in “hope” mode – not a strategy We try to wait a few minutes before making decisions. This morning is a good example. The QQQs have rallied from the lows. If it rolls over and make new lows, we would do more selling. I wonder why marketsmith/IBD not picking stocks like WDFC. Good techincals, fundamentals with good price action. I would like to know if there is any concern with stocks such as this and why. Very thinly traded. Only 74,000 shares trade a day on average. A higher-priced stock, but still pretty illiquid. did Bill O’Neil ever hedge? I dotnsee anythign about hedging that is positive inhis books live answered ‘@Chris. What is your currrent hedge level please? 100%. I will probaly starting reducing it if the market continues to strengthen. whoa! Minervini and David Ryan together, thank you for that awesome treat!! live answered I don’t recall hedging in Bill O’Neils book. Maybe I skipped that chapter. 😆 live answered I see getting out as hedging. live answered Someday can someone explain Bollinger Bands a little? Its a volatility indicator, sense it is not in MarketSmith we do not talk about it. I suggest doing a google search When are you going to define what it is? Give us some examples! SQQQ or Nasdaq futures would be two examples. We have resources over on our FAQ page at investors.com/LiveFAQ Allí do you use Sqqq? I’ve dabbled in the past. But I personally prefer using leveraged ETFs like UPRO/TQQQ to gain market exposure whenever we’re turning higher after a pullback/correction, rather than hedging with SQQQ at highs in anticipation of a pullback Ally -The Leaderboard names of hugely underdperformed since your team’s last market call (Market in uptrend) – With today’s action you will probably flip flop to “market in correction” . Justin, Chris’s, Ed’s and your teams comments would have your listener’s believe they are still long. – should we be reducing positions? Thanks Many of those positions on LB we’ve had since spring of 2020, so we have huge profit cushions. Team said yesterday we could be due for a pullback, with panelists saying they’re reducing exposure/cutting positions they have small gains in. It’s very rare we go straight from uptrend to correction for the market call. Team is still long on positions they have gains in, as long as sell signals aren’t triggered. That doesn’t mean they aren’t taking profits here and there. One day of poor action does not mean we’re automatically in correction mode. QQQ finding support at the 10-day line for now. We’re keeping an eye on stocks that are finding support at key levels/setting up/showing relative outperformance! Question for Ali: could a smaller starting position on a stock act as a hedge to weather a temporary downdraft in the market? Smaller positions are definitely great for managing risk if the stock has a wild personality or if you’re buying a bit more extended than you’d like to be buying Alissa, so why doesnt anybody say a hedge is an option play? Many people need clarity. We have a video demo from Chris explaining how to hedge with puts over at investors.com/LiveFAQ Sometimes its disheartening to hear the Team has started/liquidated positions days or weeks ago and the audience finds out after the fact. We try to cover as many stocks as possible throughout the show, and try to incorporate as much education into each episode as possible so we can teach everyone to fish outside of the show hours. We review our buy and sell rules as much as possible here, and have detailed explainers listed at investors.com/LiveFAQ — but I get where you’re coming from! Any news on NVAX Looks like vaccine stocks are rebounding today. Novacure (NVCR) got hit pretty good lately, but it’s my only position that’s in the green today! Hey Debbie! We said on the 7/1 show that we’d be selling – the heavy volume plunge below the 50-day line was a sell signal! And OAS? live answered DOCU barely budging Flexing its leadership muscles no doubt $INMD for a pullback and bounce of off the 50 day? live answered what do you think about QFIN? looks to me that this is a good spot to take a flyer on… We do not like buying a stock when it’s gapping down 24% in massive volume below its 50-day line! Good topic for discussion, obeying stops vs waiting a few minutes or even waiting for end of the day. Agreed! Any F thoughts? live answered Ali it would be GREAT to do an educational piece on LIVE on the Daily Market Indicators that Harold showed us earlier. This could be useful and helpful to traders. Making a note of this. Thanks! It seems too many people here are looking for the panelists to tell them WHEN and WHAT to buy and sell, rather than HOW to buy and sell! The how is the most important part! The examples we show can be applied to other tickers How about a FIGS reversal? live answered MRNA pls comment We reviewed the reversal in MRNA earlier. Nice action today! I’m beginning to see why you concentrate in a few stocks with full positions and not double the number of positions with half positions. Much more difficult to trim and move to cash….Luckily only a couple of stops got triggered while I was dealing with work related issues. Wow is the left side of my screen all red. Yes — the more stocks you have, the harder it is to be nimble FIGS. I work in the hospital. Many workers wear them. Good intel! what’s the buypoint for FIGS? where did Chris buy ? reversal off 21-day Thoughts on AMZN action today plz? A hold here if you bought the recent breakout Chris will buy everyone on staff a pair of FIGS to solidify his position! lol Deal! Have you noticed the strength in SPCE? I am thinking of buying more here. What do you think? SPCE a bit of a wild one, would want to see it settle down. A good swing trade entry was on 6/22 for a quick gain: the stock ran up from 15 to 38, consolidated/tightened, then broke out above that consolidation. Price swings are pretty big now Thanks Alissa!! the Team does a complete and through job, just thought a bit more insight into some positioning would be helpful to us. Keep up the good work. Totally get where you’re coming from! Good to hear Chris chime in about his position in FIGS. Ken also mentioned when he’s trimming/holding, other team members too… we’ll continue to provide as much insight as we can Ali Ops team working in overdrive. Great job. Thanks. Doing our best, esp. with Hat Man out on vacay this week! Is heavy volume at reversal important? Strengthens the case for sure Harold, are you still looking at NVST? Still on my radar, I have a trendline on the daily around the 44.50 area I got it at a really good price and had a good profit cushion. I got FB at 35 and sold during the corona crash at something like 145 and couldn’t afford to buy it back. Still kicking myself, so if I have a good cushion I tend to hold. Yes, much different if you have a big cushion vs. if it were a recent buy! 🙂 I am asking because MPLX that Harold reviewed just now (reversal at 50 DMA) , is very low in volume I’m seeing volume up 36% for MLPX right now When you open one of the 197 industry groups in MS, and then open a group –for example Internet-Content Group ranked 21/197; what is the criteria to rank the individual stocks in the group. It does not seem to be composite rating I believe the default sort is CR + RS ASO fell thru it’s 21 day after a nice run — would you begin paring gains at this point or look for support at it’s 50 ? I’ve been trimming a bit over the past few days because I wanted to lock in gains, but still in position until a decisive break of the 10-week. Support at that level could be a good chance to add to the position I see a lot of testing lately.. Does that mean look out below? Either that or a good chance to buy leading stocks on reversals/at key support levels Thanks Ali. I guess I still haven’t figured out using the volume bar well. The volume bar for MPLX is at the very bottom compared to other bars and average Vol line whereas on top it is showing 25% up (near the price). I don’t know what I am missing. Appreciate you could clarify. The bar is great for analyzing the volume action in the prior days. Since it’s showing the cumulative number of shares traded that entire day, the current day’s bar will be small at the beginning of the day. So look at the volume % change under the price change in the top corner — that will show you how volume is tracking throughout the day Meme stocks – playing poker with kids in their parents’s basement So true. who mentioned OSTK pre-mkt ? Great call! — great breakout today on u/g — 10% float short Great! fubo- bounce off of the 50 day live answered At what time today will I be able to see the updated 197 Stock Groups? Thanks The Industry groups are updated over night how do you make the trend lines permanent instead of temporary? You can use the red pen to set an alert — draw the line, hover over it so it glows and then right click. Or, if you want to draw the line without it being an alert, open the left panel and click on the notes button. That will show you all the drawing tools. Alissa I caught up on yesterday’s show early this morning and heard you say about a stock: “Is the core out of the watermelon yet?” That was a laugh out loud moment – did you make that up? Ha, that was me just botching up a saying How about SNOW today ? We reviewed earlier — interesting action in a bottoming base Though the market is not helping much, today’s IBD live session was informative and learnt some new things. Thanks Glad to hear it! IBD live is excellent especially during down days in the market, providing highlevel perspective! Thanks Darren. We try to remain level headed when the market pulls back. Do MS alerts have ability to label? I have other apps I use and I don’t know what the alert means many times. You can create notes in the left panel or even add a text box to the actual chart. You can also write a description as you’re setting the actual alert — a box will pop up for you to do that when you set the alert

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