11/22/22TUptrend - Nasdaq pops up 1.4% off 11,000 price. Low Thanksgiving week volume is not a surprise. (The traders are out celebrating)
THE MARKET’s MESSAGE: UPtrend holds above its 50-day line - a sign of Uptrend optimism.
I am still amazed at the strength of this Uptrending market – in the last 20 trading days, only 2 days were distribution (selling) days. See the table of the Nasdaq’s last 20 days action later in this report.
Tuesday’s index volumes took a healthy jump higher with increased volume on Tuesday as many first-string traders put in last minute orders before checking out for an extended Thanksgiving weekend. The index volumes are quite a bit under their averages today as expected on a Thanksgiving holiday week.
>>>>> BE SURE TO REVIEW THE PHARMA STOCK I PROFILE LATER IN THIS NEWSLETTER. YOU MIGHT WANT TO JOIN ME TO GRAB SOME AT TOMORROW’S OPEN.
First, I always review the stocks mentioned in the Big Picture. More of them are NOT of interest to me at the moment. But there are usually a few stocks that get my attention right away with strong ratings and good looking charts. Here the summary of all the stocks mentioned in the Big Picture over the last 5 trading days.
Investors.com BigPicture column.
A stock mentioned more than once in a week may beworth examining. Remember that a stock that is mentioned in the BigPicture may not be ready to be purchased.
But I have gotten many great buys from tracking thestocks mentioned in the Big Picture column. Here is a summary of the stocks mentioned in the last 5 Big Picture columns.
BE SURE TO READ TO THE BOTTOM OF THIS COLUMN FOR A DELIGHTFUL STOCK I JUST TRIPPED OVER THAT BROKE OUT TODAY WITH NEAR PERFECT RATINGS
THANKSGIVING HOLIDAY STOCK MARKET SCHEDULE: (all in Easterntimes)
Wednesday:Usual schedule; Open 9:30 a.m./Close 4:00 p.m.
Thursday (Thanksgiving day):Markets are closed
Friday (half day of trading):Open 9:30 a.m./with 1:00 p.m. early close
Do you have some unanswered stock investing questions? Or lessons learned in ’22? Send them to: Editor@ArmchairInvestor.com
The current Accumulation/Distribution data is EXTRAORDINARY!!!!
I continue to be excited about the rise in the percent of “A” and“B” rated stocks (stocks that are being heavily bought.) :
· The “A” and “B” rated stockhave risen from 38% to 55% in just 2 weeks showing a very strong market in serious dumping losing stocks and buying winning stocks.
The stocks with attractive “A”and “B” ratings stay at a very attractive 56%. That means you could through darts at the current market and probably hit a winning stock (although that is NOT my recommended buy strategy.)
HERE IS MY SURPRISE FIND TODAY– Catalyst Pharma, CPRX
Catalyst announced earning 2 weeks ago (+86%) which gave it the investor interest to form an attractive handle on a very pleasant cup and breakout today on volume that is 104% above average. I’ve included a daily chart above with its MarketSmith perfect ratings next to it.(Did I say perfect??? Yes.)
The only concern I have is, “What will it open at tomorrow?” It could skyrocket before I can get my hands on it. It will be fun to dream about it tonight
What do you think about Catalyst Pharma?
Wishing you and yours a happy and safe holiday.
Charlotte Hudgin, The ArmchairInvestor, (214)995-6702
The MARKET FACTORS table (below) summarize the current market strengths and direction. GREEN (rising markets, etc.) win!