Market Outlook
One would think that the "Sky was Falling" last week if you were paying attention to all the news about the immigration and tariffs. Its tit for tat between China/Euro zone/Canada and the US with tariffs. Insults are being exchanged between Mr. Trump and Mr. Trudeau of Canada with tariffs being placed on the Canadian goods. We ended up with 6 'distribution days' last week between the $NASDAQ and the $SPY. That is concerning to have so many distribution days in a cluster within a week. Its not the time to panic though. Market is still in a 'Confirmed Uptrend' according to the IBD (Investors Business Daily). Upon closer study of the charts of the 3 major indexes, the leading index $QQQ is still hovering around the 8 day ema(exponential moving average). That is sign that the leading stocks in the leading index are still holding up very well under current market conditions.
For the month of June, the performance of the 3 indexes is as follows:
- $DJI ... + 0.68%
- $SPY ... + 1.40%
- $QQQ ... + 3.09% (Leading Index)
Performance of 15 Stocks on My Stock Watchlist
Just a reminder to my readers that the last week of June in 2016 as well as 2017, market began to stumble and went into a correction. To everyones surprise, the market came roaring back right around the holidays of July 4th and we had a 'Follow Thru' day soon after. Traders and investors who were engaged with the market and did their homework over the holidays were rewarded handsomely. Leading stocks in the leading sector broke out during the first 2 weeks of July while we were all bombarded with the Brexit event all over the television media. If you paid too much attention to the news event and did not look over the data of price and volume on a stock chart, you would have missed the boat of attaining profits of +10% to +20% within 6 to 8 weeks.
Following is the performance of the 15 stocks for the last week. I have indicated % gain or loss for the week and the cumulative performance of all the 15 stocks (6 losing positions and 9 winning positions).
- $AAXN ... + 5.05%
- $ABMD ... - 3.59%
- $BCOR ... + 2.14%
- $CRC ... + 21.82%
- $FIVE ... - 1.35%
- $INGN ... +1.35%
- $SHAK ... + 5.39%
- $SIVB ... - 1.79%
- $TCMD ... - 4.73%
- $THC ... + 0.80%
- $TTD ... + 2.15%
- $TTGT ... + 2.53%
- $TWLO ... - 7.84%
- $WWE ... + 7.13%
- $ZTO ... - 8.46%
The leading index $QQQ performance for last week was - 0.94%
This is one reason why one shouldn't panic and react to every news event or market performance on a daily basis. It's a good idea to study the stock charts over the week end and make decisions based on the data instead of how you feel about the market. Market really doesn't care about your opinions.
Mentoring Program
Our schedule for mentoring new students is filling up fast for July and August. Traditionally October through January are the best performing months in the market. Secure your spot now before those slots fill up.
Would you like to learn:
- How to select the winning stocks like $ABMD that have gained + 128% year to date?
- How to Time the market with 'Follow Thru' Days?
- How to scale into the stocks as the stock continues to profit?
- How to scale out of the stocks during market correction ?
Schedule a FREE 30 minutes of 'Discovery Call' with us and let us help you profit in the market. Don't continue to lose money in the market and fail to out perform the market. Let us show you how to look for Growth Stocks and how best to profit from it.
Happy Trading!
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