4/17/2023M UPTREND day 13 All three major indexes had accumulation (buying) days Monday

4/17/2023M  UPTREND day 13  All three major indexes had accumulation (buying) days Monday

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FROM THE WEEKEND ARMCHAIR INVESTOR NEWSLETTER:

Just 7 companies make up over 50% of the Nasdaq100, based on the value of the companies’ stock.  

Did you miss the discussion about the best rated stocks in the Nasdaq 100 (the QQQ), and how to decide which to invest in today?  The Weekend Armchair Investor newsletter including a discussion on how to identify the best of those big stocks, is still listed on the Armchair Investor Newsletter history. You can download it today if you missed it.  Here is the graphic I used to kick off the article….

Be sure to read my discussion of the above chart provided by Invesco.com and how to use that information to pick some strong stocks to put in your portfolio.

>>>>>BACK TO TODAY’S ARMCHAIR INVESTOR NEWSLETTER.

Monday was a mild upward day. The green points at more buyers than sellers in the market today.

Looking over the MARKET ACTION OVER THE LAST20 DAYS, I start with the “Type of Day” column to see if there is more serious buying (accumulation days) or more serious selling (distribution days.)In the last  10 days (about 2 weeks), there were

·      3 distribution(selling) days,

·      5 “neither”days (low volume days – a sign of indetermination).

·      And only 2accumulation (buying) days – but they did come together in the last 3 trading days. Does this shift indicate the market intends to move higher?

I am deeply rooting for the market, If this happens, we will see for accumulation days in the market and in individual stocks and I will start buying more strong stocks to add to my portfolio. I seldom hold more than 5 or 6 stocks and NOT in a hurry to add them to my portfolio.  I choose the best stocks, usually adding 1 or 2 news stocks to my portfolio daily. But if I don’t see a strong stock breaking out of a base or other buy signal, I wait and watch.

Notice in the MARKET FACTORS, COUNTS & RATINGS table below there is good news!:

·       The market is on the 13^th day of this Uptrend (that’s 2 and a half weeks.)

·       The RISING/FALLING RATIO OF LEADER STOCKS is a strong 1.5.

The Nasdaq Accumulation rating is a B+ (sorry about those Ds for the S&P500 and DJIA).

Here is a little bit more from the weekend Armchair Investor newsletter:

>>>> NOW LET’S TAKE A DEEPER LOOK INTO WHICH STOCKS ARE THE TOP PERFORMERS OF THE BIG STOCKS….. RIGHT NOW!

Note Microsoft and Apple have almost the same value (that note is irrelevant but just offered to keep you from getting them mixed up.) Together, those two stocks add up to about 25% (1/of the whole Nasdaq100!  

If you have been following these two behemoths, you have a nice start to an impressive portfolio – not because they are so big, but because they have earned nice growth. (But BIG VALUE is not the same as those stocks at are growing the fastest today.)

Here is a comparison chart of price growth of those 7 companies over almost 10  years. Interesting but does NOT tell you which has the hottest current growth. And you must be careful when looking at LINEAR charts like the 10-year chart below. NVDIA certainly looks like the big winner on this chart.    Let’s see...

Which of the 7 leaders, is the fastest growing today?

BOTTOM LINE: When I invest in a new stock, I look for……… Refer to the weekend newsletter (dated Friday4/14 ) for the full article.

I am always looking for a stock to “go the distance.”   And as with a bad date, I have no problem saying, “Good night,” early if the evening is not going well.

Are you registered on the current www.ArmchairInvestor.com site?

If so, you will receive a BRIEF email from me after I post this newsletter each night to tell you, as soon as possible, when it is available for your review..  If you don’t get that message, just click on the popup invitation that appears when you go to the www.ArmchairInvestor.com website (the one listed above) and register.

>>>>>I will appreciate any feedback you have for me. Please send comments and ideas to:

…………………..Editor@armchairinvestor.com

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Wishing you, “Many Happy Returns.”

Charlotte Hudgin, The Armchair Investor,   (214)995-6702

www.ArmchairInvestor.com   (214)995-6702   editor@armchairinvestor.com  

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