Trader Mike's Notes

  • EAF - GrafTech International Ltd.

    EAF

    exclusive to Pro Members

  • QQQ - PowerShares QQQ Trust, Series 1

    QQQ

    For all the weakness in tech the last few days, QQQ is only back to its 50-day moving average. It actually bounced off of that important line today. It's also not (yet?) in oversold territory based on stochastic (14, 3, 3). The broader S&P 500 (SPY) is barely out of overbought territory and is still a good deal above its 50-day moving average. So, as terribly as some tech stocks have been performing, I don't yet see a reason to rush in and be a buyer -- unless there are specific names you've been watching and they've hit your pre-defined levels.

  • MDB - MongoDB, Inc.

    MDB

    This looks to me like it's itching to break out. I'm watching for a close above 60...

  • CARA - Cara Therapeutics, Inc.

    exclusive to Pro Members

  • SRPT - Sarepta Therapeutics, Inc.

    exclusive to Pro Members

  • AAOI - Applied Optoelectronics, Inc.

    exclusive to Pro Members

  • CARS - Cars.com Inc.

    A recent IPO near new highs always gets my attention. Plus it's got one of my favorite signal combos today: a Non-ADX 1,2,3,4 Bullish with a Calm After Storm. It's also forming a base that's cup-with-handle-ish. Earnings are due soon though...

  • PVTL - Pivotal Software, Inc.

    exclusive to Pro Members

  • APPN - Appian Corporation

    exclusive to Pro Members

  • CMG - Chipotle Mexican Grill, Inc.

    CMG

    exclusive to Pro Members

  • WIX - Wix.com Ltd.

    WIX

    I bought some of this yesterday when I noticed the Bollinger Band Squeeze turning into an Upper Bollinger Band Walk -- one of my favorite transitions -- range contraction to range expansion. It's following through nicely as it pushes into new all-time high territory...

  • CATM - Cardtronics, Inc.

    exclusive to Pro Members

  • CASA - Casa Systems, Inc.

    There's really not much to like about the technical picture on this right now but I picked some up in my IRA anyway. This recent IPO has been an IBD favorite and is currently "on sale" after doing a secondary offering the other day. So I thought I'd give it a shot with a stop loss under the April lows.

  • FSLR - First Solar, Inc.

    exclusive to Pro Members

  • CASA - Casa Systems, Inc.

    exclusive to Pro Members

  • SPY - SPDR S&P 500

    SPY

    This is more a broad market comment than a SPY one... I see some flashes of hope for the bulls on the General Market Overview page today. First, the most "unusually active" signal today was the "Stochastic Buy Signal". Next, SPY continues to hold above its 200-day moving average. And finally, the percentage of stocks above their 50-day moving averages, while near oversold levels, is well above its February low. In fact, that indicator is making higher highs and higher lows. So the selling isn't quite as broad-based as it was back in February. It appears, based on IWM, that the small caps are holding up the best. But the market really needs to find some fresh leadership because tech is looking really tired right now. I'll be looking for some buy candidates tonight among stocks in the "Stochastic Buy Signal" and "Strong but Oversold" scans...

  • JBL - Jabil Circuit, Inc.

    JBL

    exclusive to Pro Members

  • LX - LexinFintech Holdings Ltd.

    LX

    exclusive to Pro Members

  • QQQ - PowerShares QQQ Trust, Series 1

    QQQ

    We've had quite a bounce off the lows from three weeks ago. The Nasdaq-100 (QQQ ) is just a hair away from making a new all-time high. The other major indices don't look quite as good as QQQ but they are now all back above their 50-day moving averages. (The small caps just managed that feat today.) While this recovery has been impressive on the index level, I'm a little concerned that most stocks are not fully participating. The percentage of stocks above their 50-day moving averages is only at 45(%) today (See the General Market Overview page). If you're a bull, you'd like to see some broader participation. Something to keep an eye on...

  • SNAP - Snap Inc.

    A nice set of alerts on this today. I almost hate to say it (because I shorted it a few days after the IPO & was & still am a non-believer in the company) but this loos ready for another leg higher.