Mid-Week Routine – April 7, 2021
Reviewing Current Positions
| Symbol | Baseline | Magnet | EOW | Pink Line | MoneyFlow | Thought Process |
|---|---|---|---|---|---|---|
| FEYE | $20 | $21 | >$20++ | ▼ | Recent Repeat IOF | $20 remains baseline risk. Must hold $20 to continue to hold stock here. |
| KOPN | $10 | $15 | >$10++ | ▼ | Large IOF Recently | $10 remains baseline risk. Will protect cost basis here. Short leash. |
| PINS | $75 | $85 | >$80++ | ▼ | Large IOF Recently | V-Shape on the right side. The expectation here is for it to retrace to $80. EOW above $80 is a ++ |
| UBER | >$57++ | ▼ | Large IOF Recently | Early positioning vs 10WMA. Will continue to hold on closes above $57. Eyes on $60 to add more stock. |
Weakest to Strongest Positions: None
2. Market Review
| SP500 | Nasdaq | |
|---|---|---|
| Market Conditions | Confirmed Uptrend | Confirmed Uptrend |
| Distribution Count | 2 | 2 |
| Reclaim | 10DMA | 10DMA |
Market Indexes via Top 10 Report
What Would Webby Do (WWWD):
Date: Tuesday, April 6, 2021
Overview: Day 2 of software rotation, and leadership seemingly decoupling from indexes yet again. A lot of good action going on, and environment seems to be shaping up well as charts consolidate and quiet down their ranges on decreasing volume.
Facts: -0.05%, 23% closing range on decreasing and below average volume
Good: S&P closes above TL Daily Plan bolded pivot of $3930. Sideways action on the indexes today allows for stocks to decouple and trade on their own merit. This is how we generate alpha! Indexes going sideways is also the healthiest form of rest, as we let the moving averages catch up to price as well as create ranges to trade on. Individual names show signs of life and chart repair even if they aren’t perfect, namely CRSR FEYE GRWG APPS & some others. Social media also acted well for the most part in PINS leading, with SNAP TWTR acting well as well. Bunch of names shaping up and allowing proper chart formations to come back into the know.
Bad: Want some more firmness intraday but even this area is much improved from last week. There are also a lot of potential gaps to be filled on the downside for the indexes – something to track.
Candle: Small size positive body, longer upper wick and tiny lower tail.
Expectation: Sideways/Higher
Webby’s Really Simple Indicator (RSI): 2.69%
Webby RSI – Low vs 21day EMA expressed as a percent. NOT the regular RSI that everyone hears about.
3. Sector, Group, Industry Review
1 Week Leading Performance-Momentum Groups: Robotics, Miners, Software, Social Media, Casinos, Semiconductors
1 Week Lagging Performance-Momentum Groups: Health Care, Energy, Oilers, Vanguard Health Care
4 Week Leading Performance-Momentum Groups: Miners, Home Construction, Real Estate, Utilities, Semiconductors
4 Week Lagging Performance-Momentum Groups: Oilers, US Cannabis, China Internet, SP Biotech, Banking
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Top 20 Industry Groups From MarketSmith
Top Industry Groups: Oil&Gas, Retail, Metals/Steel, Transportation, Banks, Semiconductors
4. Key Watchlist Review
Hight Tight Flag Candidates (HTF) Watchlist
Standouts: CLNE EGHT* FUTU KOPN* MOGO MORF ORBC RIOT* SI ZDGE AMRS GMBL COHU USIO HIMX
IPO Watchlist
Standouts: ABNB BMBL CRCT CRSR* DOCN FOUR* LDI* MITC PUBM* RBLX SHLS (renewed add) UPST* GHVI SLQT YALA
Gappers Watchlist
Standouts: APPS* AVYA* CONN DT* FEYE* GOOG* GRWG* PINS* TDC UPWK* DMYD ZS NET VCEL
Handwritten Notes:
5. Top 10 Report Plan
| Symbol | Baseline | Magnet | T10 Pivot | Pink Line | MoneyFlow | Thought Process |
|---|---|---|---|---|---|---|
| BILL | $150 | $150 | $155.72 | ▲ | Repeat IOF Recently | On watch for RS vs $150 on market turbulence and T10 Pivot on strength. |
| EBAY | $60 | $60 | $63.98 | ▼ | Repeat IBT&IOF recently | On watch for RS vs the $60s on market turbulence and T10 Pivot on strength. |
| MU | $90 | $95 | $95.75 | ▼ | Large IOF recently | On watch for RS vs $90 on market turbulence and T10 Pivot on strength. |
| PYPL | $240 | $260 | 50-DMA | ▼ | Repeat Large IOF recently | On watch for RS vs $240s on market turbulence and T10 Pivot on strength. |
| SQ | $230 | $240 | $252.50 | ▲ | Large IOF Recently | On watch for RS vs the $230s on market turbulence and T10 Pivot on strength. Watch for a close above $240 on T10 Pivot attempt. |
| SSTK | $85 | $110 | $94.80 | ▲ | None | On watch vs T10 Pivot |
| TSLA | $600 | $700 | $717.85 | ▲ | Mixed | On watch for RS vs $600 on market turbulence and vs T10 Pivot on strength. |
| CROX | $80 | $80 | $82.43 | ▲ | Large IOF recently | On watch for RS vs $80s and T10 Pivot on strength. An attempt of T10 Pivot watch for close above $80. |
| LOVE | 555 | $55 | $64.40 | ▲ | Mixed | On watch vs T10 Pivot. |
| YETI | $75 | $75 | $76.77 | ▲ | Large IOF recently | On watch vs T10 Pivot and close above the $75 mark on its T10 Pivot attempt. |
| ALGN | $540 | $580 | $566.65 | ▲ | None | On watch for RS vs $540 on market turbulence and on watch vs T10 Pivot |
TL Acronyms | TraderLion
6. Swing Trade Plans (STPs)
Same as Weekend Routine.