These are updated charts from the weekend strategy video that goes out first thing Saturday morning, as well as new charts of interest that pop up during the week.
Comments are attached to each individual chart (click image to view).
Charts fall into four categories:
Active setups - Watch for entry.
Potential setups - Not ready yet but could be soon.
Follow-ups - Previously triggered setups.
General - Charts of general market interest
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We always remember the positions we closed out BEFORE earnings that rocketed higher AFTER the announcement - but we rarely remember the ones that got crushed.
Below are two great examples of why I avoid holding positions into earnings.
The chart for NVTA looked very constructive pre-earnings - like a trend change was about to happen - but holding into earnings meant taking on binary risk.
Today the stock got hit for 22%. Ouch.
BLDP also looked solid, like it was about to break out of a 7-month base. Then earnings were announced, and the stock tanked 13%. Also ouch.
It’s tempting to hold into earnings, and sometimes it pays off, but regardless of the outcome, it’s not a good risk/reward play IMO.
Okay, let’s look at the rest of today’s updated charts.