IBD Live QA Summary, Stock Lists For Thursday, April 29, 2021

Mornin’ Harold! Good Morning! Um, its Thursday! Well, I don’t host on Friday! 🙂 Ticker of the day CURE. Mark, you are back on track! 🙂 JOAN Extended now from the first narrow IPO base entry at 12.90, but now has formed a 13.80 buy point in another narrow base. While this breakout could work, I also wonder if the stock will continue this pattern of poking to new highs, then pulling back dramatically. With a low share price and dwindling average turnover, the challenge here is the price volatility, IMO. In three more weeks we should be getting a 50-day MA for both price and volume; this could help us analyze the stock better, perhaps? Cheers, Hatman Dave — Were the earnings reports a “Cure” for the markets? clever! Hat Man is that hat a one off ? New hats to come, Steve! Once a hatman always a hatman Pictures of you…awesome Many pictures of stock charts too Good to see you among the upbeat mix, Ali! Howdy! I sold CCS yesterday because i had an small gain on it, the Q1 report was great. Can i buy it back even if gap up? Thank you Absolutely. We will probably add the quarter position we took off yesterday back to Leaderboard. We’ll be watching the first five minute bar to see if it looks positive. Nice song from The Cure, thanks for bringing back good memories 😉 Ed nails it! Thanks Constantin Good morning team – always good to see Harold Good Morning!! Can we please discuss NOW earnings miss… We will definitely look at this one Ali, poll suggestion… How to use trendline alerts to find early entry points. If you are are MarketSmith subscriber, there will be a webinar on trendlines on May 11 morning,would someone talks about net please One of the better looking tech leaders from last year. Earnings are next week. There was early buy point on Monday. I wouldn’t chase it here., SWKS review? live answered Nice numbers from AAPL and FB live answered Ali- I also have to click on collapse all to see the response to a question. I think this was brought up yesterday, but I did not see a response to fix the issue on zoom. Hi Sid! We are looking into this — to help us with our troubleshooting… are you on a Mac or PC? You havent discussed ASO recently – trading in a tight range over last few weeks – curious what you think of it? I noticed it yesterday and completely agree with you. I’ll ask Ed to discuss. Well that was quite a price manipulation done on SNAP yesterday, I unfortunately had to set a stop and was clicking to cancel it just as it got executed, but I have bought it back and more as per Bill said when getting shaken out. We will see what happens today. The market is pretty ruthless place. 🙂 That’s why we prefer to set alerts rather stop orders. You can always sell some when the alert is triggered, but we really like to wait until near the close to make our final sell. Question (poll?) – the 50 day or 10 week are used for pullback/bounce moves. Is the 21 day also useful? If so, when and when not to consider? Adding to the poll. Thanks, Blaine! “Tuesday on IBD Live, Jason Thomson discussed a strategy to take stocks into earnings based on the stock’s implied volatility. On MS when viewing a stock and clicking the Options tab on the right side then the Show More Information button it will bring up an “Average Implied Volatility” value. The example from yesterday was for GNRC but was done on Think or Swim and not MS. Is the Average Implied Volatility in MS used the same? For example, for GNRC on Think or Swim the “MMM” (which is proprietary to TOS) was “20.751” (which I believe signified a 20 point move) – however on MS it notes the average implied volatility as “2.68”… Would you mind clarify this and/or what point move would 2.68 embody? I would like to use this strategy but do not have TOS, just MS. Thank you and sorry for the long winded question.” I would not use average implied volatility. Volatility spikes before earnings. The easiest way to get the expected price range around earnings is to add the at-the-money call premium and the ATM put premium to get the expected move. The TOS market maker move is 85% of that calculation. Is Now a buy on bounce off 50 day I wouldn’t want to play a gap-down on earnings, even if it finds support at the 50-day here AAPL abv bp live answered Will you please discuss the importance of volume specifically in the context of analyzing an ETF’s technical picture? Does volume of the ETF itself really matter or should we be looking at the volume in the underlying holdings to confirm the price action? Adding to the poll. Thanks, Daniel! Is $NFLX just broken? Yes, needs time to repair after this earnings gap-down Can we take a look at QCOM. Thank you live answered How do you reconcile the president speech on raising taxes and a potential sell off? If I was a billionaire or a big Pharma, Or tech CEO I would ensure to sell now? I think the market thinks that the final plan will not be as bad as advertised. I’m glad everything thing the market looks strong. How do you balance this with the bullish sentiment indicators? I know price and volume is primary but curious on your thoughts Actualluy the bull-bears indicator declined this week. But you are right, it wouldn’t take much to get too frothy. Time to press gas on tqqq Chris.? Market is pulling back. You could add some exposure once it turns back up. What is the super regional ETF discussed this morning? DPSK? DPST. That’s the 3x leveraged regional bank ETF. should i lighten up on ccs after a good earnings report today? Initial action this morning looks pretty strong. Here’s a response from Chris to someone else asking about adding to their position in CCS: Absolutely. We will probably add the quarter position we took off yesterday back to Leaderboard. We’ll be watching the first five minute bar to see if it looks positive. GNRC? live answered Best options in energy sector or just go with XLE? MTDR looking good today GNRC? live answered snap is a leader here. There were quite a bit of opportunities monday, tuesday, wednesday to buy it. Especially yesterday as Pinterest earnings tried to bring it down, but it rebounded great. I agree. Showing great resilience. The institutions keep stepping and supporting it. Any idea what is happening with F? Thanks live answered Good morning market maestros. How do you calculate RS rating? Measures a stock’s price performance over 12 months vs. all other stocks in our database. There’s a 40% weighting assigned to the most recent three months, whith the remaining three quarters each getting a 20% weight in the calculation. Nice earnings gap on CCS live answered MTDR b/o live answered MTDR breaking out live answered ALGN gap but fading live answered What happened to stla? live answered Please review DXCM, an old favorite. Very strong chart action. . .may be extended. live answered Thoughts on MTDR ? live answered can we look at F and GM live answered CCS – WOULD YOU INITIATE HERE? Too extended for me. 17% above the 10-week. (From Dave: On Leaderboard we have highlighted a rare ascending base with a 69.03 new buy point; the 5% buy zone goes up to 72.48. More on this chart pattern in this story — we talked about CRWD yesterday. I did not see any news . Can you comment? It’s had a strong move off the bottom of the base. Just consolidating. Should get support at the 21 day. Please review NOW. Thanks. live answered MTDR – 7th straight up day. live answered Any thoughts on DXC as it make new high? add to position? We added a quarter on Leaderboard. Volume also picking up. Besides MTDR check out CPE live answered NIO… Bueller? 😉 Haha I was thinking the same thing SOXL as a play on the chip shortage??? That’s how I’m playing it. Is now a buy or a hold at the 50 day live answered GNRC live answered Isn’t ALGN’s main business filling gaps? (Sorry – couldn’t resist…) Well done. Ed worthy! His comment to me this morning was I was chomping at the bit to talk about ALGN. Justin – great analysis on ALGN – and waiting – Unfortunately I didn’t wait (too impatient). live answered ALGN has turned negative…Greetings to all live answered could you please advise what a shelf is? We have a ton of resources on our FAQ page at about all the different chart patterns that we use, including the shelf — but here’s the direct link to the article explainer: GNRC? Nice Q numbers live answered WST. Has EARNINGS TODAY! Hey Dee! Looks like the report is already out for WST PODD & DXCM, the leaders in diabetes medical equip have been rising heading into earnings …. live answered Looks to continue the trend of selling great earnings reports and taking profits. live answered Recurring SQUATFEST theme; even AAPL is not immune WOW! live answered what is the red flag to the right of service now That’s a triggered alert. disappointing day Could be but it’s still early! 🙂 live answered It is tough buying now as earning in just days even they are in buy point You are right, there’s quite a bit of risk in buying outright just ahead of earnings. That’s why we like looking at options or waiting for the reaction before buying Can we have Kathy (Donnelly) as guest on IBD live? She will be on next Friday. GNRC STAGE 4 ? Yes. I would be wary of that. i have a combination of growth stocks and other and about half of them seem to have increasing short interest. Does that say something about my holdings? Stocks like MAT, RY, T, GS, CCJ, LAC Here’s a great article for you about why that can be a good thing, it’s linked on our FAQ page at but here’s the direct link for your convenience! Thanks Ali. I liked what I saw in MTDR and bought some. Cool! I’ve been in FANG and am hoping it can keep climbing before earnings in a few days 🙂 are these wild swings exasperated (exacerbated?) by Day Traders and Algorithms? Seems like a lot of wild swings day after day….feel like I am stuck in the mud. Market trying to make a stand right now. Today’s action is disappointing. But overall the swings have been muted. Just take a look at the recent daily bars. Very tight. CAKE – breaking out. Lukewarm fundamentals, but technicals may show potential. Thoughts? live answered End of month jockeying going on live answered fdx live answered Question for Poll – how to best deal with getting out of a stock (esp one you day trade) to claim wash losses. Is there a good time to do this 30 day break? Making a note of this for a future poll! check out WD? live answered YETI still holding the 87.00 and the 10SMA nicely. Yes indeed, Shane! And the 21-day EMA trying to catch up. Good action. Still a Leaderboard play. ED lol one liners rock He’s on his game today! ASO mentioned today has lots of shorts..15.6% of float Here’s an article on how we view short interest for top growth stocks, linked on the FAQ page at but direct link here: RUTH looks juicy as well live answered Is Chris hedge with SQQQ today No. I’m waiting for the market to get extended before hedging. Any comments on FDX today? live answered What are your thoughts on the rise in Margin Debt affecting the market in time? Definitely a risk. But if we didn’t have the plunge a year ago in March the margin debt would not have spiked as it did. It will be interesting to see the April number, which won’t be out for about 3 weeks or more. Chris: Yesterday you said add the ATM call and the ATM put then divide by the share price. Today, you didn’t say to divide by the share price. Just depends if you want to look at the percentage or just stick with the prices. Same info. OC major provider of fiber optic cable. Stands to benefit from an infrastructure bill. During great recession VZ (former employer) and other communications companies received stimulus money for speeding network buildout. VZ got $4 billion then. Expect OC to benefit. live answered I get a sense that more breakouts have tended to fail over the past few months than in the past. Is this tracked anywhere as a market indicator of strength / confidence? That could be a good indicator. We’ll explore it. I’d like a few educational topics / discussion regarding how to identify stock market leaders. I’ve read David Saito-Chung’s educational article. Maybe discuss defining stock market leaders instead of just identifying. Thank you for considering Made a note of this. Thanks, Jim! (From Dave: lots of great articles right here, by the entire stock market team — I am +9 hours to the PST time zone. If I subscribe to MarketSmith, can I replay the webinar afterwards? Yes! How do we sign up for the webinar Harold was talking about? I don’t see it on the list of upcoming webinars. It looks like it’s not posted to the site yet… we’ll keep an eye out! Harold, how can I register for the 5/11 “trend lines” webinar? It will be listed in the “upcoming webinars” section of hopefully tomorrow or next week! Do we have all Poll question video clips cropped and grouped by categories like buy, sell,screens, entries etc.. Not all of them, but we do clip out a number of them and have them on the FAQ page in their respective categories! 🙂 Is there a way to add a reference in market smith that shows what the charts are, example show that the green line is the 21 day, does this make sense, i use market smith You can customize the moving averages you use — but other than that, everything should be in that chart legend! The different moving averages we use for IBD Live are listed at 🙂 Alli, thanks for mentioning the chart legend. But the legend only mentions the 50 or 200 day averages. Id like to know what the green or magenta daily ones mean or the other ones on the weekly charts that you are using. Those are custom moving averages. We use a 10-day moving average line (magenta) and 21-day exponential moving average line (green). But that will vary depending on what you set that at. You’ll find that capability under the wrench. In addition to this info on the MAs for our daily charts, the different moving averages we use on our MarketSmith charts for IBD Live for weekly, monthly, etc. are listed at 🙂 what happened to TWLO? live answered Could todays market weakness be partly caused by an End Of Month thingy? live answered Justin – good question about end of the month.. Ken – very good answer… live answered Chris spy kind of extended? Close but it’s been the Naz that has been triggering these pullbacks. Justin, why buy FDX vs UPS for Swing Trader? UPS was too extended. Chris: regarding my breakout question – maybe BOUT reflects breakout success levels? The BOUT weekly looks pretty choppy and seems to reflect what we’ve been seeing lately. I think the fact that it’s still off it’s high while the Nasdaq is back near new highs says a lot about growth and breakouts. Shop action today? live answered HPE Holding nicely on a great Volume dry up. What do you guy’s think og Hewlett? Hi Shane, Hatman here; I like the action overall this year. The breakout from 12.44 in Q4 last year worked great, after a few weeks of testing the 10-week MA; and now a new flat base has emerged. We’re seeing solid action in the IT sector, as exemplified by not only HPE but also DXC, WIT, EPAM and DAVA. I like HPE’s FY 2021 eps estimate, up 27% to $1.84 so this represents a nice turnaround. Would like to see revenue growth to return. For now, holding above the new 16.24 entry point in this flat base. and was the expectation that FDX would draft off UPS? Exactly. could an AMZN split impact any indexes? S&P 500 and Nasdaq are market-cap weighted so a split wouldn’t have an effect. Market cap doesn’t change with a split. The Dow Jones Industrial Average is price-weighted but AMZN isn’t in that index, though there is some speculation it could get in there. Ed, would you guy’s be willing to take a few more whacks at a dead horse? TSLA. It’s failed that 700 mark and it’s 50 day live answered NOW brought down SHOP Would like to see NOW keep getting support at its rising 40-week MA from here. MOS – Five straight positive weeks, thoughts on possible adds Too extended for me. 12% above the 10-week. But looking good. I’m holding. CRWD same issue? May need a rest after 4 up weeks in a row. I’ve heard this before but I don’t understand the reason: Why are shakeouts beneficial before a stock starts approaching a breakout point? Shakeouts get rid of “weak” shareholders, making it easier for the stock to blast higher once it clears the traditional buy point. If the shakeout happens after the breakout, that may increase the odds that YOU get shaken out in that process. how about LULU Looks like a new first-stage base may be forming; notice how the 10-week MA is starting to flatten out and rise again? Ed – I noticed Hatman took RCII off the watch list. I think it looks quite complling – Thanks If it was removed from the ready list, it’s because it has earnings in 6 days. (From Hatman: Chris may have removed this, I actually don’t remember. But this rebound back above the 10-week MA is bullish. One issue is the low sales growth, averaging just 4% over the past 6 quarters. The watchlist, meanwhile, has grown to over 200 names, so Chris and I decided it needs a trim.) Question: Do you have an article about distances above the moving averages that become worrisome? For Nasdaq — historically it’s 6%

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