It is only the end of the first week of January and already many of our picks in Mish’s Outlook 2021 have made big money.
However, for StockchartsTV last Friday, Mish picks out 17 of the 57 stock picks and shows you the charts along with our proprietary indicator for momentum, Real Motion.
This is an extremely helpful way to hear Mish talk about not only how to look for signs of a top, but also how to plan your next trades even in some of the picks that skyrocketed during the week.
The picks Mish covers:
ETFs: The Russell 2000 (IWM), Retail (XRT), Transportation (IYT), Alternative Harvest ETF (MJ), The US Oil Fund (USO), and Invesco DB Agriculture ETF (DBA).
Stocks: 3-D Systems (DDD), Grayscale Bitcoin Fund (GBTC), Scorpio Tankers (STNG), Viacom Media (VIAC), Gogo Inc. (GOGO), Datadog (DDOG), Bluebird Pharma (BLUE), Junk Bonds (JNK), British Petroleum (BP), Fastly (FSLY), Snowflake (SNOW).
The pdf of Mish’s Market Outlook can be yours by clicking here:
Check out the latest trading price levels for this week:
S&P 500 (SPY) Just sneeze the word stimulus and you get new all-time highs
Russell 2000 (IWM) new all-time highs and closed $2 lower. No biggie
Dow (DIA) Consolidation right by all-time highs
Nasdaq (QQQ) New all-time highs.
KRE (Regional Banks) 58.47 2020 highs
SMH (Semiconductors) Closed a smidge red on the day and a lot green on the week
IYT (Transportation) New all-time high close-221 must hold
IBB (Biotechnology) New all-time high close. 153 support
XRT (Retail) New all-time high close
Volatility Index (VXX) 16.23 low Friday
Junk Bonds (JNK) 109 is key to clear 108 key to hold
The author may have a position in the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.