- Market Overview: S&P 500
- Main Video: High Potential Stocks – 51 min
- Conclusion
- Watch List
- New Members: Where To Start & Key Topics
- FAQ Section
1. Market Overview: S&P 500
Click on S&P 500 daily chart to enlarge:
A very challenging week which stopped me out of many positions is behind us.
Overall I have reduced my exposure and my aggressiveness.
Although the S&P 500 looks like it is going to bounce soon, the sudden increase in volatility makes me believe odds for choppiness in the weeks ahead are very high.
I can see an ABC counter trend correction unfolding, similar to the one we saw earlier in May. I discuss this in detail in the video at the beginning of the chart review.
Having exposure to Precious Metals (PMs) has payed off, but not in such spectacular fashion as I had hoped for. The PM sector still looks like it is in the beginning stage of a new bull run. If that is the case it will offer great momentum plays that are ‘less extended’ than e.g. Software stocks that have been running higher for years or many months for newer issues.
This is still a bull market and therefore a market that will continue to offer many opportunities. Now the time has come to back off a bit and to be extremely selective with one’s long exposure.
I continue to believe that the markets are setting up for a spectacular October – February period.
The next 4-8 weeks new sectors and new market leaders will start to flex their muscles. As a trader, I monitor those clues very closely. In the video I discuss this approach in detail with stocks bucking the current short-term down trend like TWTR & SNAP.
2. Main Video: High Potential Stocks – 51 min
Stocks covered in the video:
- Avoiding Aggressive Exposure
- Stock Review: S&P 500, TWTR, SNAP, SQ, PYPL, NVTA, NSTG, GH, VCYT, SSYS, TDOC, LK, OSTK, SMAR, ESTC, PLAN, SA, SSRM, SLV,
- High Potential Stocks: TWTR, LK
3. Conclusion
The time for maximum aggression will most likely come later this year.
In the meantime the name of the game is:
- Protecting both mental & financial capital
- Looking for new leaders
4. Watch List
Watch list link with the best charts the market has to offer right now:
Use it to dig deeper, replenish your own watch list and ultimately come up with your own ideas.
Free website: www.tischendorf.com
Twitter: https://twitter.com/Tischendorf
5. New Members: Where To Start & Key Topics
Stop losses – TL 3
https://members.tischendorf.com/2015/12/12/tischendorf-letter-issue-3-what-invalidates-a-trade/
Idealized Optimal Chart Pattern + Pareto’s Principle – TL 46
https://members.tischendorf.com/2016/10/09/tischendorf-letter-issue-46-patience-and-discipline/
Margin – TL 53
https://members.tischendorf.com/2016/11/27/tischendorf-letter-issue-53-melt-up-potential/
Consolidation Patterns – TL 54
https://members.tischendorf.com/2016/12/05/tischendorf-letter-issue-54-monitoring-consolidation-patterns/
Trading Psychology: Fear – ‘That First Dive’ – TL 63
https://members.tischendorf.com/2017/02/05/tischendorf-letter-issue-63-this-is-a-bull-market-keep-it-simple/
Concentrated vs. Diversified Portfolio – TL 84
https://members.tischendorf.com/2017/07/03/tischendorf-letter-issue-84-sector-rotation-continues/
Drawdown & Gain Required To Break Even – TL 146
https://members.tischendorf.com/2018/10/13/tischendorf-letter-issue-146-waiting-for-volatility-to-calm-down/
6. FAQ Section
Q: Do you run a model portfolio? Do you send out trade alerts?
A: There is no model portfolio and I do not provide any kind of buy or sell signals or alerts. I also do not publicly keep track of my personal trades. I’ve been actively trading for 20+ years and I have come to understand that an educational newsletter is in the best interest of members. The focus is on teaching traders ‘How to fish’.
Q: When is the newsletter published?
A: There is no fixed schedule. Depending on how busy I am, the newsletter can be published as early as Friday or late at night on Sunday.
Q: How do I know if the most recent newsletter is already available?
A: There is absolutely nothing you need to do. Whenever a newsletter is published you will get an email notification including a link to the current issue.
Q: A video is not loading or has stopped playing. What should I do?
A: Simply hit the refresh or reload button in your browser. That usually solves the problem. The videos are hosted on Vimeo. So if there is a playback issue with Vimeo, there is nothing I can do. These type of issues are very rare. You can always check Vimeo’s status page to see if they are experiencing technical problems: https://www.vimeostatus.com/
Q: How do you scan for stocks?
A: My main scan is a very simple scan looking for stocks with above average volume. There are no secrets involved. It is all about discipline. The key is to do it every day. I use stockcharts.com to run the scan. If you decide to sign up for their chart service please use my email mail@tischendorf.com as a referral. I will then get a free month. Here is the code or scan expression I use: [type = stock] and and [daily volume > 300000] and [daily close < 150] and [daily volume > daily sma(50,daily volume) * 3] and [daily close > daily sma(50,daily close)] and [daily close > 0.55]