Home » IBD Live Q&A And Two Key Stock Lists For Sept. 14, 2021
IBD Live Q&A And Two Key Stock Lists For Sept. 14, 2021
Ticker of the day FOXY
A terrific Tuesday to the IBD Live International Team, from Minneapolis, MN !!!
Scott!!! GM good fella
Good Morning from Dallas!!
Goodmorning IBD team and David Ryan 🙂
Good morning, everyone!
hendrix in the house!
I can’t find Monday’s Industries spreadsheet?
Go to investors.com/LiveFAQ — it is linked there!
Gooood moorning IBD Live!
GM IBD Live! It’s a blustery day in Rosseau, Ontario, Canada … let’s roll!
Stay warm IBD Live friend! We are feeling cooler winds in West LA, too!
David Ryan Rocks!
Yes! Good sign! Co-workers in the office.
We will def do a hybrid workplace, pal
how can I get a marketsmith hat?
Email [email protected], maybe they can help 🙂
big day for you folks in CA…. Will he stay or will he go?
Good Morning guys, great to see you guys back in the office together, gives us hope that things are finally getting back to normal!
Yes, quite a crowd today!
how to detect overhead supply in a stock
General rule of thumb is that the further a stock pulls back off its high, the more overhead supply it’s going to face.
Good morning Hat man, just got My caps thanks a so much
Excellent! You’re very welcome Eric
Early entry on EXPD?
Good morning, how do we rease trend lines on marketsmith after creating one using a mac computer? Thx!
Should be able to right click to delete!
Got it … thanks!
You’re welcome! 🙂
Mosaic Feild / Taylor Feild home of the Saskatchewan Rough Riders!!! Go Potash!
Can we get David Ryan’s take on oil stocks? Thank you
Please spend some more time today about how to survive this choopy market. Swing trader, market smith, and leaderboard subscriber.
Hatman – what was that ED mentioned figs
David Saito-Chung, could you explain how can you read that a addition sotck offer is comming?
Hi Luis, the companies always announce these news, so keep an eye on the headlines. PO = primary offering priced. PPO = proposed primary offering.
Is the Power Trend still in force?
Do you all ever short stocks?
We prefer to short when the market is in a prolonged downtrend, rather than in a sustained uptrend
Thoughts on ADBE. Large price drop yesterday.
We’ve had it on Leaderboard for quite a while. The 10-week line is our line in the sand.
Hatman – Lot of stocks have the shares float and outstanding differences including AMZN – so how do you feel about it?
I am always aware of this, Sara, and want to see the company’s history of offering shares. Sometimes I see some stocks just move in a normal manner and offerings do not really affect the week-to-week or month-to-month activity. But KORS is a good one to study — now CPRI. And maybe MRVI lately?
If a stock breaks out of a 3-wk tight pattern, do you still use 20-25% above the 3-wk tight buy-point as a profit taking zone or other point (i.e. 10-dma or 21-dma break, etc.)?
Whether it’s a trend line breakout, traditional breakout, or three-weeks-tight entry, we like using a combination of offensive and defensive sell signals.
Chris joined the call late – Does the FIGS secondary offer a new level to enter the stoxk. The deal will drive the price down to institutional damane Thanks
We don’t like buying on weakness like that — when a stock is down 6% on news, we don’t view that as a time to get in; it’s usually a time to scale back or get out. The only exception could be if we see an upside reversal at a key level as the stock shakes off weakness
SNAP off the 50 day line?
I’d rather wait for SNAP to move above its 8/31 high. That would correspond w/ a breakout over a trend line.
Is CANSLIM dead? I have been struggling all year. If not what part of CANSLIM is working the best? N,L
Don’t think so, Brian; IMHO there have been enough winners in retail, internet, software, materials and financials this year to justify the S&P 500 and Nasdaq’s positive year. You might want to see if you held some stocks too long, though? Or, did you chase some stocks a little too high up in price? Also, make sure you are buying stocks in which you have conviction.
Jim Cramer called for a bottom next week, Sept 17, based on historical charts by Larry Wililams. Then a big run to end the year. Is that something you see as well?
We don’t prognosticate as much. We analyze daily and adjust accordingly. That being said, that would fit a seasonal pattern and I certainly wouldn’t mind if that thesis plays out.
Can we find out what David Ryan has done with PKI?
I agree with David R – my account is not making much progress either. Had some wins but they have evaporated quickly
Ali – did you read the news? Its a secondary which provides institutions a liquidity event to get long.
It doesn’t matter as much what the news is, what matters is the stock’s reaction to that news — but look at that, it’s trying to move higher now 🙂 we’ll see if it can hold
Why do you guys think DEN not participating in energy rebound?
Do you all know if you now need to have funds in TD Ameritrade? My account has been cancelled and I did not have funds in it I was using for the charts, watch list etc?
Not sure, almost all of us use TDA as our broker, so we have not been in that position
When will there be candlesticks on Marketsmith?
I don’t have an ETA but I do know we have a lot of exciting stuff in the pipeline!
Where can I find the put-call volume ratio mentioned in the Investors Sentiment article?
Hi Tamara! On this page: https://research.investors.com/psychological-market-indicators/
David , Can you please discuss PKI?
Chris, about a month ago you mentioned AVTR. Its been my anchor. The rest of my picks, well its been break out then retreat. Thank you and all your staff for sharing your knowledge.
Nice job with AVTR, Gary!
RM breaking out today. In group 2.
Can we take a look at INMD please?
Monday was a true test of institutional support near the 50-day MA for sure, John.
Huge shakeout in SNOW yesterday morning but taking out the recent high
Def acting strong, a character change to me, Ryan. But also base-building action; I’m curious how it handles overhead supply near 310, 320, 330.
Feels like a smaller, tighter cup with handle is forming after the nice rebound in May; 26.98 could be an aggressive entry, Miralba. I do own shares. Cheers, HatMan
Hi all. could you address AM(BA) please? is ihere a huge cup with handle on the monthly chart?
The optimal day to get in was on 9/1 after earnings. Now would wait for a new pattern or pullback before buying as it is currently extended
SIVB trades kind of thin, doesn’t it?
In terms of average daily volume, yes. But in terms of average daily dollar volume ($234 million)…no. This is an institutional-quality stock
How is David Ryan treating CLF?
Not sure, but seems like he does not own shares any more? Facing a new challenge of the 50-day moving average.
Good morning:AVTR: 13 week up in a row. with very nice graph at daily price trend. It appears extended but it go up very week. How to handle this kind of stocks?
To me, looks like time to take some profits for those who haven’t already — but would continue to let it run!
Thanks to you all, I’ve made significant gains in some of my stocks, especially my long-term leaders. Given where we are at in the market cycle, would it be prudent to take partial profits and keep just part of each position? Thanks!
Great job, Alicia! We treat long-term leaders differently, using monthly charts to guide our selling. You’ve likely read this article on how to treat long-term leaders, but just in case here you go: https://www.investors.com/research/best-long-term-stocks/
SIVB moving in low volume today. Doesn’t look convincing. your thoughts in this defensive market?
There’s an article this past weekend on SIVB in Barrons. Their argument was while other financial stocks paid dividends and buybacks, this one raised money to invest more into future.
Hi William, it will def issue more shares in the future; for now, let’s see if a good base will form from here.
GM! Is there somewhere on MarketSmith where the notations like PO, SO and PPO are explained?
Yes! In the bottom left corner of the chart, you will see something that says “Chart Legend” that pops open a window that has a mock chart that you can hover over the various elements to learn more about what they are
really happy to see an early ST entry today! Feels like a better shot than late morning.
Can you look at the steel stocks? NUE STLD TMST YX
DEN down as well. As a former leader in the energy sector, if the leader is weak, does it make you doubt the resurgence of the sector, overall? Thanks,
Palantir might be breaking out
Def worth watching, a cup with handle forming
What do the blue circles with + – indicate on the bottom of MS?
Insider buying (+) and insider selling (-). We pay more attention to the insider buying.
Are CRWD / ROKU fallen leaders now?
CRWD looks better than ROKU. ROKU well below its 200-day, CRWD trying to hold around its 50-day
INMD up 3%
Nice to see it firm up at 50-day line!
PLTR breaking out nicely today
Solid price action. Back in a buy zone.
another fade of all indices
AMZN – what if position is up 200%?
Then you can treat it differently 🙂
Can we look at NET? It is one that I still have full position.
Continuing to find support at the 21-day line on daily and 10-week line on the weekly, looking good right now.
D.C. & D.R.- there’s been mention lately of the biggest daily drop since the start of run as a sell signal. Does that AAPL drop the other day fall under that category? (maybe you’ll cover that later :-))
We actually talked about that yesterday with INMD.
8/19 looks like it was the best day to get in. We wouldn’t want to be getting in now on this weakness. Maybe we’ll see a pullback to the 21-day line and a rebound, or an entirely new base
do you think a criteria for a 2 and also a 3 week tight could be added to marketsmith
We already have three-weeks-tight! But when setting up a new screen, you can screen for price % change – current week if you wanted to look at two weeks of tight closes
DOCS seems to be looking good today.
It does. Big daily swings.
How does DVN look
Looks like a cup w/ handle base to me…30.65 buy point.
FAS straight down since you guys mentioned
Not currently acting in accordance with our expectations, but that’s why we like looking at entries at moving averages and using logical areas as our stops so we are able to know whenever the trade isn’t working without losing more than we’re willing to lose on the trade. But we also mentioned FAS on 7/29 and played a run-up from there on SwingTrader in late summer
HI ALI Miss your leadership or the team when you lead. what is thinking on SNOW. seems to be gaining momentum and vol.
Hi Richard! You’re too kind. I’ll be back on the show tomorrow 🙂 SNOW has been such a tricky one! Likely would’ve gotten shaken out if a buyer on 7/9, also if you bought on the reversal on 7/19 since it round-tripped that gain on 8/20 just before earnings (though closed well that day). And if you bought after earnings, it was pretty extended from the 50-day. So it’s been tough to find a great entry for this one. For those who own it and have a profit, great job! I’d like to see a pullback/new base before getting in. But great to see it now in a sustained uptrend over the last few months!
I didn’t get my weekly this week, grrrrr… Is there still an electonic edition? Would you wonderful back ops folks shoot me a link? (I tried to report the missed edition but the website would like me to call… Tomorrow’s song, “got, got, got, got no time” 😉 )
So sorry to hear about that, Larry! 🙁 All of our same content can be found on the site — so if you’re looking for our New America article, you can find that under the research tab. If you’re looking for our Sector Leaders story, you can find that under the stock lists tab. If you’re looking for something specific, let me know and I can send you the direct link!
where is the three week at
Open up the bottom panel. Look at the lists on the right. Reports -> MarketSmith Growth 250 -> G250 Pattern Recognition -> Tight Areas 🙂
KRNT attn Ali – (did you see lall the creative fashions at Met Gala? ) Digital printing for textile industry
KRNT lookin’ good, John! 🙂
SHORT SPY MAKES SENSE NOW?
No, not with the index still above its 50-day moving average.
Chris what about PLTR
Ed here – PLTR has been trading just above its official buy point. Coming up to resistance levels just shy of 27. Getting above that would be a good sign.
Any reason why there are logical stops at SwinTrader but no logical Profit Taking? I feel this messes up the risk reward in many trades
We do have profit targets for every trade!
do you know if you can search for like a -1.5% -1.5% close on the 2 wk tight you mentioned i tried yesterday and it wouldn’t let me go negative
Hm, you should be able to — email [email protected] for help!
Why is Chris putting alot of money into TQQQ if he is out of most of his other Nasdaq growth positions? In other words, is their a strategy where the Nasdaq 100 would do well at the same time that the total Nasdaq and growth stocks are doing poorly? thanks for the education : )
He got in at the beginning of the rally after the coronavirus crash and has a huge long-term gain. It’s not something he’s added to recently — he hedges the position using Nasdaq futures
Why is AVTR having such high volume today ?
They priced the offering today. Obviously a lot of demand for the new stock, which is great to see.
panw-3 week tight ??
by definition yes, but it was wedging higher as the pattern formed. Tight sideways trading is also preferable and I also like the see the high starting with the left side of the pattern.
DT is looking good
Nice pullback. Tight and low volume.
Question for David Ryan: how do you screen in MarketSmith for price down-drift and volume dry up? Thanks
Alli, One of the things I really miss is the information all in one place. The page that is opposite the market charts is brilliant. A ton of information in one ‘click’.
Totally get it, Larry — you can reach out to our customer service team for help with this! 🙂
It pulled back with the market and isn’t bouncing. I would want see it reverse on the intraday chart before making a move.
Chris, calm down! 🙂
He had his own little earthquake.
Thanks Alissa, thats right but they are always a fixed range between 5-10%
I would say there’s quite a bit of flexibility in profit taking depending on market conditions, that particular stock’s action, etc. But it’s been a tough market, no doubt
It is hard to know when pull back ends
Yep. It’s hard to jump into the first day of the bounce. So if the bounce only lasts a few days, it’s very hard to make headway. Even just a few weeks of trending higher can work very well.
Pltr looking solid
Yes it is, but will the market let it run? Very tough environment for technical breakouts.
any idea that mrna has twice the market cap than bntx
I don’t. Maybe MRNA gets higher share of vaccine revenue vs. (BNTX) which has teamed with Pfizer. Also, I don’t know analysts are judging Moderna’s future mRNA efforts vs. BioNTech’s.
ZI breaks out of a shelve?
It qualifies as a flat base after 15% pullback so buy point of 67.73 is legit.
I like David’s philosophy regarding not always having to be in the market “just because!” Cash is also a position…and sometimes your best one. Always being in the market doesn’t make you a trader. This could be a good time to sharpen your axe? Scaling back if what you’re picking (Or holding) isn’t working is very smart, always hunting in the background. Thanks, David!
Two thumbs up, Anonymous!
INMD touched its 10 week line yesterday. It has bounced higher since then. Has it passed the 10 week line test or is it too early to tell?
With the stock near its weekly high, it looks like a very good test at this point. But there’s a lot of time between now and Friday.
where is the “best fit” button on MS?
Not available on daily chart, but available on weekly and monthly — click on the wrench in the upper right and and towards the bottom you will see the custom chart elements. We prefer standard vs. best fit — you will know it’s the correct one when the price action looks tight instead of wide and loose!
To avoid being severly hurt in a “choppy market” you have to make proper buy points – the point of minimum risk. As discussed mulitple times, the last couple of years investors could get away with making incorrect buy points. A “choppy market” requires discipline. The Fear Of MIssing Out will chop you up.
Climactic action — odds are it will take a break now
Please explain average daily dollar volume on a stock. SIBV has kinda thin average daily trading volume, but big average daily dollar volume, which Ken has pointed out, making it instituitional quality. Thanks!
It’s the dollar volume that we key off of most for a gauge of liquidity. For individual investors, look for a minimum of $20 million. For SwingTrader, I believe we’re using $200 million as our minimum.
TGT – correction — from Stage 3 to Stage 1 (mistyped)
When a new base undercuts the low of a previous base, it resets the base count!
Would you say SIG is getting support at the 21D?
Looks to me like it’s testing support. Not finding support. Need to see a conviction bounce.
TGT looks like a sell, while COST looks like a hold for those who bought properly. Should have plenty of cushion heading into earnings next week!
Ali – how do you determine average daily dollar V?
Multiply average daily volume by current share price!
KRNT ascending base, all-time highs, some volume – presented at Citi conference today
Great point about the ascending base showing up on the weekly! I agree KRNT has a very compelling story/runway
Can you please review TX. This stock was a major winner. It has had 10 out of the last 11 days down. Is this a normal pull back or do you get out if you already own it?
If you’ve got a nice gain, nothing wrong with waiting for a test of the 50-day line.
David Ryan – I appreciate so much your participation in the show. I really thank the IBDLive crew, and have tuned in for several months. David, you add a lot to the show. Many, many thanks!
Can you please type the link David was giving about MS
Alissa: Do you have the date for Ryan using IPDA to screen the stocks?
I do not :/
INMD thoughts today. Big movement yesterday
would you please give us the link again?
What if Im selling off a portion of a position (like David was mentioning) at a loss and trigger a “wash sale” like I did the other day. I’ve been curious how you guys treat those? I have a couple in my portfolio currently.
We have a video linked at investors.com/LiveFAQ but essentially we would rather buy a stock back and trigger a wash sale than miss out on a big winner. Bill O’Neil always said taxes were the cost of doing business as an investor. Also, we are not tax advisors — please consult an investment advisor for guidance. 🙂
Can you shows us an example of one of those screens and how you built one?
We’ll likely have to do that another day
When I search screens in MarketSmith for “Cooper Long,” nothing comes up . . .
It’s a screen that he set up himself. We’ll have to schedule a separate demo with him where he goes through setting up a screen!
DS-C: Please ask David why what’s not working is important. And how important.
David Ryan focuses on what industry groups that are working and not working because he wants to be in leading groups and avoid lagging groups. Looking at group leadership is important in his analysis
Hi guys. Are these screens customized? or they’re predefined?
The great thing about marketsmith is you can customize your own screens in addition to using pre-built screens! 🙂
How did David set up his screen for tight weekly closes?
is there a forum for discussing the market with otehr market smith users?
A GREAT forum for CAN SLIM investors is on Twitter! Join our Twitter community and you will see tons of folks sharing screens, ideas, etc!
always like the browse screens..hope they dont take away
Could the team look at the maeket again.
I’m sure we’ll look again before we step away. It’s getting worse for sure.
Silly, but serious question…why is MS Growth 250 labeled as such? Nearly always has 300 stocks?
The target was 250 but it allowed for an “accordian” feature to grow or contract depending on the market conditions.
Yes DR, let’s talk about Mr. Choppy!! I can’t look at it without thinking that. 🙂
Does David still have GNRC?
What exactly is a Data monitor?
It’s just a personal list he uses to keep track of certain stocks
Thank You Ali I am on Twitter and follow you and many other IBD employees
Great! There are many non-IBD employees who are active on Twitter who are always sharing charts, screens, etc. — two who come to mind are Marty Chargin and Richard Moglen 🙂
should I sell grwg?
Many of us would have sold at the first decisive break of the 10-week back in February. If you had a huge cushion and wanted to give it more room, you could’ve waited until the decisive break of the 40-week in mid-July. We would not be holding the stock here
Thanks Ken for answering my question on INMD.
Is LEN broken or is this natural reaction?
Heavy volume behind the declines and earnings in six days — I wouldn’t want to be holding it here
Is SHOP in a spot where it would be wise to short since it is breaking out of a diamond top pattern now? What do you think David Ryan?
We don’t use the diamond top pattern — we have an online course that’s all about how we approach short selling if you’re interested! https://get.investors.com/online-courses/short-selling/ Plus, more (free) info on shorting at investors.com/LiveFAQ
Sasquatch seen lurking in the background of several panelists
GREAT SHOW GENTLEMEN!! THANK YOU!!
IBD Live Q&A And Two Key Stock Lists For Sept. 14, 2021