The S&P has made multiple extension targets, but this runaway market isn’t losing momentum. In these moments, with a lack of pullback buys, I like to focus on high short interest setups — where traders on the wrong side of the move are feeling the worst amount of pain. Let’s talk about TSLA, LK, NVRO, AMD, WGO, BABA, and more.
Here’s how I will play the window dressing-led rally into year’s end: Look at what’s been strong and look for it to be bought.
The end of the year is when I make sure I do a lot of looking back at what I did well and not so well in 2019. I have a couple tools I use to do this and I explain what they are in this video. I also go through the indices with our “double green” scan.
We spent some time walking through TSLA Thursday before last and the results were directly in line with what we were looking for. Can we see more of that into the abbreviated holiday week? Let’s see what the charts suggest.
As the end of 2019 nears, witching expiration has come and gone, and there were some great moves to be had. Not all pins were created equal but applying a theta positive approach in everything, TSLA proved to be a good strategy. We’ll spend some time on that along with some of the best picks into the end of the decade.
At the end of 2015 I asked whether 2016 would be the year to buy gold. That ended up being the right time to ask that question. Now I want to look at whether we should be selling Gold in the year to come.
Today’s action in the S&P 500 argues that we are still in the middle of the advance from last December and not near the end. I’m not in it, so I will look for pullbacks to buy. Meanwhile, today gave us some of the early signals we’ve been looking for to signal a possible turn down in Crude.
