A review of the weekly watchlist performance confirms that technology stocks are being marked up as Phase II continues. S&P futures point to a bullish open, with overhead resistance at Monday Tuesday highs (3225-3230.)
Summary
Technology Stocks
The technology sector continues to new highs, while the Nasdaq trades at fresh all-time highs. And, CNBC said investors should expect a retest of the March lows precisely at the same time we were telling you to watch that VBP support/resistance band between 70 and 80.
Eleven weekly videos later, we continue to say the same thing. Watch technology stocks as Nasdaq trades at all-time highs. Had you listened to CNBC you’d have been wrong for 11 weeks straight!
Top 10 – Watchlist Stocks
Here are the Top 10 stocks from the watchlist ranked by Tuesday performance gains. We’ve traded all of these this week with the exception of BMY. This morning, AAPL is up (+4.50) while AMD is higher (+1.00) in early trading.
Going into the opening bell, all of them are higher, with NFLX (+3.15), DXCM (+7.75), FB (+2.30), NVDA (+4.42), MSFT (+1.75), NOW (+3.94), while PYPL (+1.84) is trading at 52-week highs.
Take some profits off at the open, while letting some profits run.
AAPL Stock
Apple is trending. We’ll move stops higher and take some profits off the table as the stock is set to open (+4.50) this morning.
AMD Stock
To quote the watchlist, “we’re looking for semiconductor strength.” We see strength in AMD and NVDA for starters.
We’ll take some profits off the table as AMD is set to open higher.
Futures are still moving higher (+11.25) with 30 minutes to go.
Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we navigate the current environment and trade these watchlist stocks. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.
Happy Trading,
Vinny
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Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.
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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.
Live Sessions
Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends.
These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.