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IBD Live Q&A And Two Key Stock Lists For May 6, 2021

Song title and artist please. Thank you! “I’d Rather Be Blind” by Etta James Happy Thursday from Chicago. Today is going to be an outstanding day for this individuals that have been heeding the advice from the IBD LIVE Team and their guests. Stay patience and selective . . . . Peter, I had an amazing oatmeal raisin cookie sent by you (two sittings because it was so big). Thanks much! Could you kindly discuss EPAM? Thank you. Too extended for a new position but looks like it could form a three-weeks-tight pattern by the end of the week. Will Peloton ever get back to $150? Who knows. But the way we can put the odds of success in our favor with a trade is to buy stocks that are in uptrends, rather than trying to catch a falling knife Ali, thanks for the list of ETF’s on the FAQ page… Great! 🙂 RILY breaking out of a 3-week tight live answered GM, hayw proper gap entry? It was already exteded heading into its earnings report. Would wait for a new proper setup Harold: Ticker? JEF aso Yesterday was the day to get into ASO when it cleared a declining-tops trendline to Team – BGFV (Big Five Sporting Corp) – gapped up Wed am on good earnings report – looks like one that could have been bought after the 3rd or 4th 5 minute bar; your comments? It was already extended from a proper buy point heading into earnings, and we prefer buying earnings gaps when they happen for a stock surging out of a base, like WSM did. But you are correct, the intraday chart looked strong in the early going and the stock continued to move higher throughout the day. But perhaps ASO’s move yesterday was a better way to play this group (I initiated a position). Wouldn’t chase it here, though Please review MT, earning this morning. Thanks Looks like a hold if you bought out of the cup base in early March — some investors may opt to lock in profits. But the stock is looking good. Too extended for a new position at these levels Poll Question Suggestion: I would like to hear how everyone manages their watch lists. I find myself spending more time managing my lists than I would like. Should one instead use the orange flag or alerts. What are the best practices of the panelists in this regard? You got it — thank you for submitting! Is MarketSmith Web down or ailing? App seems to be working fine. Please comment. MarketSmith web working fine for me. Try clearing your cache and restarting your browser! Where can I find more information about the cup and handle formation and other formations? Thank you Hey Ash! Check out investors.com/LiveFAQ. We have links to detailed explainers on all the chart patterns we use. What are the expectations for TECK breakout? 5% or higher? is the metals demand increasing or supply short? We don’t predict the percentage move a stock will make, but use proper entries to pinpoint opportunities where there’s a favorable risk/reward ratio. Yesterday’s move above the 22.82 area for TECK was one of those entries. We’d obviously love to see it extend its gains from here! 🙂 to team – AZEK (Azek Company) is in buy zone from 48.89 to 51.33; closed Wed at 50.55 At this point, earnings are only a week away — sometimes you can get enough cushion in a stock ahead of earnings in that amount of time, but other times not. The factor that increases your odds of this happening is when you see the stock making a strong move. Azek has been hainging out in this 5% buy zone for a while, in volume that hasn’t been above average. to Ali – you initiated a position yesteday in ASO (that’s your hubby’s favorite company, right?) Ha, I wouldn’t say it’s his favorite company but yes I did. We’ll see what happens! What was the rental stock ticker.? RCII Harold – Do you replace options with higher strikes and later expiration dates as your stocks climb? Do you let your option settlement dates get really close to expiraton? No, I open a option trade 45-60 days DTE, then manage accordingly Can the team please take a look at ASO? I’d like to hear their take on it. Hey Wilmer! Earlier in the week, we created a declining-tops trendline and discussed how it was clearing that level in yesterday’s session — that was the ideal day to get into this one This $110 level in ARKK is crucial. If ARKK starts pulling down hard on volume under this support level this could be a big tell on tech stocks for awhile here? Tech really not looking great here, even if ARKK closes above the 200-day line this week in my view. Tons of damage and other areas of the market are working PTON What’s going on? Recall of its treadmills. We’re staying far away. What about GS in the banks sector live answered is “TECK” still buyable? Yes. You can probably use yesterday’s low as your stop. ASO had follow through after breakout live answered ASO, Breaking out live answered INMD? Thanks Pullback to the 10-week after earnings coming in above-average volume. Maybe it finds support there and turns higher, but it’s already made a huge move off the coronavirus crash lows — we’re trying to focus on stocks that aren’t exhausted after huge moves in 2020 How would you handle getting into ASO after yesterday’s price offering Yesterday was the ideal day to get in aso live answered Not in Chart Legend: TX stock has a notation with arow up $DIS and 106/100. What does that mean. Nothing in legend? Special distribution where you get 6 shares for every 100 you own. Poll Question Suggestion: What key factors allow for holding through earnings? I believe David Ryan indicated that if the stock’s set up looks good then you can hold through earnings even with little to no cushion. Thanks, Joseph! ASO Not messy live answered ALI/CHRIS Nice job with ASO . . . ! Thanks! Academy is very big in Louisiana live answered Environment of ASO is not as nice as Dicks Agreed! Good Morning! Could you please go over GS, as I see a breakout and it is acting very strong. Thank you live answered ASO is not organized and messy…DKS is much nicer, larger, better lighting, etc. ASO is a mess Sounds like BGFV! Clean and organized but not fancy Totally agree Dicks Sporting Goods does sell guns You are correct — looks like they have a “multi-year initiative” to remove guns, stopped selling them at 440 additional locations in 2020 after removing them from several hundred stores in 2019. What is the buy point for JEF? After today, handle buy point of 33.68 to Harold – gap up and holding stock you referenced might be NVCR (NovoCure); gapped up on 4/13 and has been holding near buy zone since then Good example, thanks!! Ed – AAN was spun off from PRG in Nov 2020. Thanks thx to Harold sugesting GS few days ago live answered I’m noticing quite a few EPS markers off by a day in MS. ON is one I know for sure is off. GS shows it also. Please look into this. Please reach out to our team at [email protected] for help with this. Thank you! ETSY in a free fall, market is punishing growth/2020 winners hard Yes, most definitely. When you say you “take 1/3” are you taking a third of the profit or are you selling a third of the shares you own? A third of the position with pypl dropping after a good earnings doesn’t bode well for SQ live answered At the start of the show you say help us make more money in the stock markert. Please help us loose less money in the stock market by talking more about the market direction and what levels to watch and less about so many stocks and old stories. The Nasdaq losing support at its 21-day earlier in the week was the first warnings sign. We’re keeping a close watch on the 50-day line. Team talking about market technicals now. to Chris / Ali / Hat Man – SHW (Sherwin Williams) is worth watching; slightly extended from a 1st stage 19 week flat base with buy zone of 252.74 to 265.38 (with 2 sets of 3 weeks tight in the 19 week base); currently around $285 which is 12.8% above buy point Yes, extended right here. But it’s had a nice move since early March for sure New to Leaderboard and wondering if it is a suggested Buy when it is in the “Leaders” group or watch the ones in “Leaders Near a Buy Point” area? Hey Jeffrey! Check out investors.com/LeaderboardFAQ for helpful info on this. And welcome! IPI is down bad. S-RDOG? Maybe it should be SMRDOG – with Mosaic in there. But David did say these stocks were representative of the themes he’s watching — steel, fertilizers, miners, oil and gas, construction Please take a look at Roku. Keeps falling. Any hope of recovery or just get out? We would’ve gotten out of this one the week of 2/26 when it had a decisive close below the 10-week line after its big run. We wouldn’t be holding weakness like this headed into earnings, the exception might be if you have a massive profit cushion. Depends on where you bought, if you still have profits, your conviction, etc… not sure how earnings will shake out. But tech/2020 growth winners are out of favor at this time Why Nasdaq is moving down so much? We’re back to the bifurcated market. Tech out of favor What about BUD? live answered Alissa, The IBDLive ream is using a different Zoom option for viewing the charts. Instead of seeing the whole chart. We are seeing a large part of the chart. The presenter then moves the chart from one side to the other or up and down to show the rest. Much more confusing for us views. Seeing the whole chart and name of the company is really helpful….Steve Hi Steve! I am able to see the entire chart. I would try to resize your Zoom window to view the whole chart. is ther a lumberETF? WOOD Right. What is the “O” in SIRDOG again? OAS can you review amc stock? would you invest in amc? No, this is not the kind of stock we would trade. Too volatile and speculative. Poor fundamentals. How to see the daily dollar volume on market smith? Multiply 50-day avg volume by the current price to get average dollar volume Any thoughts on ZIM today? down 9% For stocks that go on moves like this, we always say they could easily come down to their 10-day or 21-day moving averages. If you own, you have to decide if you’re comfortable with that kind of decline. If not, maybe take some profits into that strength. If you want to give it a little more room, a close below the 10-day might be a time to take some off the table. Same for the 21-day. Then hope it settles down and the 10-week line catches up to the stock, and hopefully it will find support there. If not, a decisive break of that level would be a decisive sell signal for position traders. But it all depends on how hard/quickly it falls. Then you may need to act in a quick fashion Your thoughts on AVID ? live answered When does the panel initiate a position in a breakout stock? Immediately or do they watch it for a bit? Many team members use intraday charts to pinpoint their buys — but others, like Irusha, primarily use daily/weekly. But at the very least, we like to see how the first few minutes of the session shake out, to make sure a stock isn’t opening at its highs of the day and reversing does Harrold still have BCC, Boise Cascade? Sold 50% with earnings after the bell today Rachel’s EXPD is holding around 114 She made a good call. I really liked the two 3-weeks-tight patterns. Nice to see it advance today while the market is weak. JMIA any opinion. Citron says buy. Not our strategy to buy stocks in a downtrend. Bank like KRE? We have KRE on SwingTrader and DPST, the leveraged version, on Leaderboard. What are stocks in SIRDOG? STLD, IPI, RIO, DEN, OAS, GVA — these are representative of the themes/groups David Ryan is watching. There are other names in these groups doing well Hi! IBD article on “pivotal week” for the market when big guys reported for sure was not justified. It stated if numbers are good, market should go up… Not sure if there is anything good left on the web to read about market… I imagine it said if the *stock reactions* to those reports were positive, the market would move up. Because those megacap techs have big weightings in the Nasdaq! Nice day for BKE, any thoughts ? Looks good today. Some volatile swings in the past month. But great action today when the broad market is weak. so do you sell all these high flyers now after this massive move down or wait for a pop? Not our style to “hold and hope” — we buy stocks in uptrends, limit losses to 7-8% if the trade doesn’t work. thanks Ali! I thought there is some indicator in MS as Justin and others are reading out instantaenously 🙂 Ha! Justin basically has a calculator embedded in his brain 🙂 will we ever hear from SNOW again? SNOW continuing to melt. Maybe if it can get back into an uptrend eventually we’ll start looking at it again Do you think solar stocks will come back anytime soon? Looks pretty bleak for TAN right now. Not an area we’re focusing on. We’re looking for stocks in uptrends Ed, speaking of throw away stocks, let’s talk about TSLA… LMAO 😉 Not looking good, but a lot of highly valued growth names/EVs looking much worse. Is CCJ still a buy? Not one day before earnings. You could look into IBD’s earnings option strategy — we have an article linked on that at investors.com/LiveFAQ CCJ earnings tomorrow. Worth a review today by the team? Keeping an eye on it and waiting for the reaction to earnings tomorrow! RVLV down 7%, any news? Earnings out yet? Still feels in character for the stock. Holding above its 50-day. We’re waiting for the reaction to the earnings report Etsy down 39.00 for the week No bueno How do we find the Denver meet up? is it on your website? Go to meetup.com & do a search for Denver meetup Where do you find meetups for IBD Meetup.com My alerts go into spam. How do I correct this? Hi Terry! Reach out to [email protected] for help with this! Harold TRQ and BCC both report tomorrow. I think these were ones you brought up. Thoughts? Didn’t buy TRQ, sold 1/2 of BCC with earnings after the bell today Where do we find the alert watchlist in Marketsmith. Email [email protected] for help with this How did you set the trendline alert? Draw a line and right click on it. Email [email protected] if you still need help! WATCHLIST — Amend it daily . . . purge weakest — C Grade stocks. Finalize on weekends . . . then cut it in half to only the best merchandise! Great process, Peter. Can IBD make their mobile app watch lists with alerts? Email [email protected] about this! Awesome topic @ Jihn Dobson and Ali! Thank you! 🙂 I wish Daily Graphs were affordable, easiest way to screen winners! Maybe you could offer it online in the same format! MarketSmith is the modern day equivalent of Daily Graphs! Is there a way to view multiple charts in a single view on MarketSmith? Ie to speed the process of going through a lot of stocks? Email [email protected] about this 🙂 How do you access a list of all alerts which you have set? Click the alerts bell and then click “manage alerts” where is the best place to find recent IPO’s for the watchlist? There’s a “top rated IPOs” list in MarketSmith. But that’s not picking up super new issues Is there a way to turn off email alerts? Email [email protected] for help with this. Hearing people answer the poll question today (esp. Ed) it sounds like MS is almost a prerequisite for IBD Live. I cant afford it yet. Can we have alternate answers geared toward those of us who want MS but cant afford it yet? Can’t recommend IBD’s stock screener enough! Check it out: https://ibdstockscreener.investors.com Just an FYI, Ed. Only CAT rental stores can rent Caterpillr gear. They do not allow any other rental firms to offer Caterpillar equipment. I grew up and worked in the Equipment rental Industry which is the only reason I would know this generally useless piece of information! Ha Oops! Thanks. anyone eyeing an entry into TQQQ? Not unless we see an impressive upside reversal. And even then, it depends. Tech is not where the strength is right now. What on EARTH happened to ENPH?! Solar is looking terrible, like many highly valued stocks.. ENPH did not have a good earnings reaction but the trend was already clear. Worked! Thanks as usual Allie Awesome! Glad to hear it DE reports tomorrow and looks strong. Being in the right industry would you buy ahead of earnings? We prefer to not buy a stock outright just ahead of earnings. You could look into IBD’s earnings option strategy, or wait for a positive move on the report. We have an explainer on this linked at investors.com/LiveFAQ Good day from cloudy Prague. Do Leaderboard (graph) alerts provide a way to access, or manage the existing alert list? I can only see an option to create one using the bell, but I do not see any way to edit an alert that I’ve added. Would email [email protected] for help with this. Thanks, Stephen! WESCO has moved nicely in response to last last 2 earnings reports RS line blue dot is a key factor for me. It really keeps you focused on the stocks more likely to keep moving higher. ASO up even further today: 9.5%. A lot of power today. Just keeps getting stronger. I got distracted yesterday and did not buy it. Start position in ZIM?? Too extended. Chris are you hedged at this point? Hedged my TQQQ positon earlier in the week, which is getting close to long-term capital gains. Otherwise I would be just selling it. My Average Share Price for FND is 106.09. 1/2 position. Holding. I will probably hold my 1/4 position. nvcr? On my watchlist. I might start building a position if it reverses off the 21-day. TXG – CRASHING 15% – glad I got out days ago Good for you. I held a small position and then sold it this morning when it was trying to rebound. Really looks terrible now. any thoughts on NVCR? I’m looking for a reversal off the 21-day. Chris, would you call today a vertical violation? Not yet. We would really need to slice through the 50-day and the selling would have to infect the S&P. Do you consider it bearish when the 50 DMA crosses under the 200 DMA? I’ve seen it called a death cross. Yes, most definitely thoughts on $DKNG with earnings tomorrow. PENN is down today Neither look healthy technically

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