frankz

Restoration Hardware was a Wall Street darling during the Covid pandemic. RH (NYSE: RH) curates design, taste, and style in the luxury lifestyle market. The company offers collections through its retail galleries, sourcebooks and online at RH.com, RHContemporary.com, RHModern.com, RHBabyandChild.com, RHTEEN.com, and Waterworks.com. From the bottom of March 2020 to its high in August 2021, the stock rose roughly 919%. Since then, the stock is down -70% from the August 2021 high and has been trading sideways for the last two years between $230 and $320 (roughly). BUT.......... Chairman and CEO Gary Friedman just completed the purchase of $10 million [...]

So here we are, sitting at all-time highs in the major indices, yet BREADTH is ATROCIOUS. On a day when the Major Indices (S&P 500 and the Nasdaq) hit all-time highs, we have; • 1,176 fresh one-month lows vs 218 fresh one-month highs. • 515 fresh three-month lows vs 123 three-month highs. • The McClellan Oscillator ticked lower with a reading of -92. (The McClellan Oscillator is a market breadth indicator based on the difference between the number of advancing and declining issues on a stock exchange, such as the New York Stock Exchange (NYSE) or NASDAQ.) • Stocks above their [...]

Going through the TOP 400 names in the market. Video content; • How do I come up with the TOP 400 names? • Big volume. • TC2000 color candles. • Inside days. • NR7. • 21 EMA. • Recent market environment (trading). • My timeframe. • Lower your timeframe to find more Set-ups. $SMCI $ARM $DELL $LYFT $DKNG $FROG $ACMR   Managed Assets. Subscribe To Our Trade Ideas

Originally posted on YouTube on 03/24/2024 Managed Assets. Subscribe To Our Trade Ideas

• $IWM has been stuck in a range for 1.8 years. • Top of the range, call it $200. The bottom of the range--162.50ish. • If you believe in targets, take the top of the range minus the bottom of the range and add that to the top of the range; $200-$162.50 = $37.50 + +200 = $237.50. • STOP: on the weekly chart, the $190 level looks like the proper initial sell stop. From current levels, that is about 4% away. The potential upside based on the stock range is about +19.9%. • On the daily chart, there is [...]

Here is an excellent breakdown of the S&P 500’s YTD returns so far. As you can see, we have not had significant broad participation AGAIN, but things are always subject to change. The small caps look favorable, and positive action from that group can and will expand breadth, leading to more individual stock opportunities.

https://youtu.be/e5u1RHrvbjk?si=HZJwArhoeq2oM8l3  

The Russell 3000 is the ‘Market’; the ETF comprises almost all large and small caps. The index gives you a feel for the overall market, unlike some of the other indices that are dominated by a few stocks. Year-to-date, 1,654 out of 2,689 are down (61%). 52 out of the 100 of the TOP market Capitalization stocks are down YTD. 94 out of the 100 Lowest market Capitalization stocks are down YTD. Unlike any other, this year has been about seven stocks: APPLE, MICROSOFT, GOOGLE, Amazon, NVDA, TSLA, and META. The MAG-7 peaked in July; [...]

What a year. The market has NEVER witnessed a year like 2023 (so far). The magnificent seven stocks, AAPL, MSFT, GOOGL, AMZN, NVDA, META, and TSLA, have masqueraded the overall weakness in most stocks. The annual contribution of the ten largest market cap-weighted stocks has accounted for 96.5% of this year’s S&P 500 return. In other words, the return of the other 493 stocks in the S&P 500 is less than +2% vs a gain of over +12% for the index. That is what you call narrow breadth. The closest year to 2023 is 2007 when the top 10 stocks [...]

Bullish seasonality starts today. And right on cue, breadth expanded to more than just the magnificent seven stocks for the first time in a while. The bulls have their work cut out for them. With the economic and Middle East tensions, I wouldn’t throw caution to the wind just because of historically favorable seasonality. I would continue to look for long plays and short trades, specifically in individual stocks and not on the indices, which are heavily influenced by a few stocks. Aside from the magnificent seven: NVDA, MSFT, GOOGL. META, AAPL, AMZN. TSLA, most stocks have underperformed cash this [...]