Momentum Monday…Are We Too Extended?

Hello from Dublin.

I am with the family in Dublin and we have an Airbnb at what is called Google’s Headquarter (that is the address I give the taxi’s…no Uber here).

Not much has changed since last week’s show with respect to Momentum.

Ivanhoff sums it up well:

Recent Chinese IPOs have gone wild. Many of them have doubled in a month or two. Highly-shorted stocks are forcing short sellers out of their positions. Many momentum tech stocks are looking dangerously extended, but other sectors are starting to perk up and keep the stock market indexes afloat. Is the market running on fumes or sector rotation will save the day again and keep pushing higher?

This week’s show is a little longer but we cover a lot of tickers including:

QQQ (Nasdaq 100), MSFT, ETSY, MMYT, ROKU, TSLA, ISRG, TWTR, BABA, RH, MA, V, and many others.

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.

As always in the show, Ivanhoff and I go through some new ideas and our SL50 list of momentum leaders. Click HERE for the show or watch below:

Also published on Medium.