TSM is a leading chip maker for some of the largest tech companies on the planet, including Apple, Sony, Huawei, Qualcomm, and others. It is pushing new all time highs & I bought in anticipation of a breakout to those new highs. I got long half of a position @ $104.14 with a stop @ $101.75. I didn't feel comfortable putting on a full sized position going into...
The short trading week was not without its excitement. Financials (XLF) was the big winner of the week. The fed stress test last week resulted in banks being allowed to resume share buy bank programs, giving some tailwinds to the sector. Technology (XLK) took the lead on Tuesday, but fell back into second place at the open on Wednesday. All other sectors...
The sectors took on a character we have not seen for some time. Technology (XLK) is back to leading the sectors for this week. Helped by a number of breakouts in technology growth stocks, some of those fueled by speculation in security stocks following a wide and troublesome security breach that impacted both the government and private sector. Consumer...
Despite starting the week in last place, Energy (XLE) rose to the top of the sector list starting from Tuesday as the first vaccine doses were made available in the UK. That positive vaccine news boosted the sector that is likely to benefit from the increased activity in travel and leisure sectors. Communications (XLC) led at the beginning of the week, but could...
Energy ( XLE ) is now in its fourth week of leading the sectors list. It didn't look that way at the beginning of the week when it sold off off sharply amongst disagreements between OPEC members on future oil production. It rose back to the lead as those talks began getting better on Wednesday and OPEC finally had agreement on Friday. Technology ( XLK ) and...
Energy (XLE) put in a third week of huge gains and topped the other sectors. The sector is up over 40% in the last three weeks. It did pull back a bit on Wed and Fri. Financials (XLF) also sticks out as a winner for the week, far above the rest of the sectors. The worst performing sectors were Real Estate (XLRE) and Utilities (XLU). Utilities briefly emerged as...
Energy (XLE) was the big winner of the week for the second week in a row. Additional positive vaccine news signaled the possibility of several sectors recovering and driving demand for oil and gas. After a poor performance last week, Technology (XLK) followed closely the performance of the S&P 500 index. Utilities (XLU) performed the worst this week, although...
Change in leadership from tech (growth) to financials (cyclical)
Energy (XLE +17.11% WoW) was the clear winner of the week. Straight out of the gait, Energy benefited from the news that an effective vaccine could be available soon. The Energy sector would benefit from the economic recovery of several of sectors including Transportation, Travel and Leisure. Financials (XLF +8.29% WoW) followed in a distance second. Banks have...
Wait for a pullback and consolidation. Earnings are still 2 weeks out on November 17th.
Currently trading at upper bound of channel, Could see Sideways trading until November 17th Earnings
It was a long painful week for all the sectors with the overall S&P 500 index losing -5.64%, worst since March of this year. Utilities (XLU) topped the list of sectors "only" losing -3.66% and remained as the safe place for investors to go to stay into equities instead of the alternatives. There were certainly days that each sector had to shine, but as far as...
Bullish Pennant Imminent Breakout
Bullish Pennant Breaking Out for $250 Target
Equal weight vs. Cap weight S&P 500 Quality vs. MOMO Smallcaps vs. Tech Value vs. Growth ( S&P 500 ) Topics of conversation all year long...expecting this to continue...
Trading in sideways healthy consolidation, building up energy for the next leg up. Earnings and October delivery numbers tentative to be reported in November. Watch for a breakout setup. $40-50 by EOY.
This week it was all about Communication Services (XLC) with the positive earnings beat from Snap (SNAP) driving growth in many of the social platform company stock prices. Utilities (XLU) continues to be a safe bet for investors as a sector that is consistently performing well over the past few weeks. Financials (XLF) also had a great week as bond yields are...
XLK current wave (2) correction is setting up for a terminal move into wave (3) targeting the 129-135 range.We are operating under the assumption that wave (2) should not break below 111 setting up a same degree wave 5 rally is in progress targeting 130.