The Russell 2000 more new all-time highs, SPY, QQQ are both sitting right below their all-time highs. And for months multitudes of individual stocks have set up beautifully and have broken out. And the idiot permabears are still chanting about bubbles. For many years, and since the, and right into the, February lows, I have remained resolute about a secular stock bull market. Is anyone listening? Who knows.
My 4/2 list, consisting of 39 (38 now with the RSPP buyout) stocks, in the last few days – TEAM, BFAM, VNOM, ,WDAY, MEOH, LULU, FIVE, AEO, ANF, CTRN, SQ, ETSY, have hit new highs or all-time highs. And RSPP got bought out recently at an all-time high. That is 1/3 of my list. And 1/3 of my 4/2 list were up over 50% at some point. Plus 4 of them tripled. Only 2 of them have not been up at least 10% at some point since 4/2.
I am also the first to point out, that one very big reason why that list has done so well is because of the overall stock bull. “Don’t confuse brains with a bull market.” But this is also the point for the other part of the performance – getting the stock market right. That stock list was given to you guys in the premarket on 4/2. Why is that significant? That was the exact low day (thumbs up, chart below) of the final retest before the SPY, the OQQ, the IWM all then eventually proceeded to hit record highs. It was also when almost everyone thought the stock bull market was dead. The 4/2 low, you can not get closer than that. And the group was stocked with retailers, which have then become the #1 sector this year. That is pure hard work, zero magic involved in doing well in this business. That list could have been much better if given more attention and planning and with more hours in a day. I did that all in one weekend because I wanted to get that posted for you guys by that Monday, 4/2, as I believed the turn back up in the market was very close. And I received 3 comments about it – 3 comments.
Unlike the multi-billion dollar hedge funds, brokerages, banks, mutual funds – I had no staff, no research team, no advisers, no consultants. All 100% my work. And that list blows away all of those huge money management organizations. The performance discussed here, the numbers are better now. Plus this discussion does not even include the many many many smaller trading stocks that have been outstanding performers which have been posted all year, and more of them just this week. Like with CVSI which has been posted 15 times in the last few weeks, one of the best pure trading stocks this year. And last week and this week with the pot stocks, CGC, CANN, TLRY, CRON, with CTRL, WIN, NIHD, TRXC, etc. And having said all of this – about the 4/2 list and with all of these stocks and with all of these opportunities. Yet so little interest in this website. I am deciding how to proceed from here.
The thumbs up on the SPY chart is the premarket day when I posted my list – the exact low day of the final retest:
Below are charts of stocks discussed numerous times – more setups yesterday in CVSI, CGC, CRON, TLRY, CANN – springs off of support in an uptrend. ASNA, SMRT, more examples of what I discuss all the time. Trading is TRADING. And why it is a necessity to have selling rules, profit rules, stop rules, do not rely on your analysis, do not believe that a breakout has to actually breakout and stick. It is a business of probabilities. CNAB, a tiny pot stock, an absolutely beautiful pre-bko setup, and the run after words. SPY, another 123 option trade bottom setup, going off of Tuesday’s LLBH point as a spring. And the retest after the 123 bottom. Many excellent traders will not buy a spring, only the retest. So many ways to do this. Also, a 3 WAVE bottom tends to have more meaning than a 3 point bottom. If you are studying, paying attention, every setup below has been discussed in detail multiple times.
Hi Scott, I’m not sure about anyone else but i for one really appreciate your service. I read your posts and study the charts everyday and feel I’m growing by leaps and bounds. I only trade intermittently due to my day job but still plan to step into full time trading at some point in the future. Your insights are invaluable to me. It does seem odd that more folks don’t post but perhaps they’re like me, afraid to post as I feel like a trading gumby and don’t want to look dumb.
Always appreciate hearing your nice comments Dave, thank you. We all do dumb things, but that is part of learning this thing. I understand the situation people have with their jobs. I have tried to shorten the learning curve for people by getting the focus purely on where it needs to be – on understanding this is all probabilities, so how to deal with that. Meaning, developing trade setups via repeating patterns, and using the analysis part to set up the trade setup, so to speak. Not getting so hung up on analyzing, but by using the analysis as the background. It is how this thing works well, but most people are totally focused on the analyzing alone.
It just takes time to get this, experience, knowledge, anyone can get this, but it requires persistence and diligence. I know you are working at it. It can be done, just keep the focus totally on where it needs to be – buying strong stocks with the appropriate setups, and avoiding the weak stocks.
And yes Dave it is very odd what’s going on.
I need to chime in too. Thanks Dave for the comments. I have also felt I have at least the first inkling of understanding due to your insights Scott. I also have a day job and want to go to trading as my main source of income, but the day job is still where my income that supports my daily life comes from (so far). I keep almost making the jump, but get cold feet when I have losses, which is still far too often.
I so appreciate your market insights as well as how your view of the larger world is similar to mine (at least in what you have shared). It is easy to go day after day and let the thanks I feel not be expressed because of day to day life and the time it takes to let it be known.
So, thanks! I am so glad that you do what you do, and have the heart to keep at it. What you share doesn’t just go out into the void, it is read and studied and pondered, then executed to the best of what I can right now at least.
Hi Scott, one more thought i had regarding the lack of posts on the great opportunities you provide us. That is, even with your great setups and stock list, I still am losing on net. So when you point out the great performance of the 4/2 list it’s hard to admit I still lost money during that period. I am learning and improving, which is the process as you so aptly point that out, but it’s not easy to admit that I lost money when so many of those stocks went straight up. And I bet many others are in a similar mode, they are still learning and losing so not much to boast / post about.
Thanks for posting Scott – I very much appreciate the tips. I’m just now getting time to study your excellent course – Due to my “day job” – which often takes up my evenings and most weekends, I haven’t been able to spend time till now. You’re a fantastic teacher.