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Summary
MarketSmith Compliments Our Workflow
Successful investors impart a consistent workflow every day, weighing their decisions based on tested methods. In simplest terms, we assess the broader indices, drill down into the sectors that top the list in performance, followed by industry groups and individual stocks.
Top-Down Approach to Investing – MarketSmith
Start with the indices, then sectors, industry groups and individual stocks to find the next winners.
Following this process, MarketSmith leads us to a setup in Las Vegas Sands (LVS). Keep reading, as Market Smith makes the selection easy by providing intuitive screens for each level of our workflow.
We are looking at stocks “near pivot”, in the screen below, that are setting up but have not broken out to date.
Stocks up on volume is another list we look at everyday. For now, we look at stocks approaching a pivot. Or, if you’re “cup of tea” is shorting weak stocks, look at stocks down on volume.
Las Vegas Sands (LVS) Fits the Criteria – Waiting for a Breakout Alert to Enter a Trade.
RS Line is rising (84), which tells us the stock is outperforming the S&P500. The importance of this one feature cannot be underestimated.
If the S&P500 is about to break higher, LVS should gain traction. We’ll discuss the trade on LIVESTREAM today.
Additional information quickly catches our eye.
Technically speaking the stock is in the top part of its recent range. A double top is certainly one possibility if you have a bearish bias. But, considering the bullish state of the IBD Growth 250, we’ll go with a breakout as more likely. Hint: 158 have triggered alerts recently.
In each quandrant, MarketSmith displays information critical to our thinking process or workflow. It’s the consistency of our approach and application of entry and exit strategies that make us more “machine-like” than “human-like” (read emotional).
- Are earnings and sales growing?
- Are institutions buying?
Bottom right corner, we can see funds own 52% of the outstanding shares and analysts are ratcheting up their earnings estimates for 2018 (+17%). The rest is self-explanatory, as the company gets many “A” designations in key areas, with an ultimate 98 score or Composite Rating, telling us it is outperforming 98% of its competition.
Additionally, funds are increasingly bullish, as ownership grows each quarter, adding 59 funds in March.
https://theclosingprint.com/CV_Blog/marketsmith-breakout-alerts/
With LVS setting up and broad market participation pointing to a break higher, we’ll talk more about Las Vegas Sands in the LIVESTREAM broadcast at 9:20 AM. See you then.
Happy Fry-day,
Vinny
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Investment Warnings
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.