Tue. Jul 23rd, 2024


Good morning Kenneth!

Good Morning everyone!!!
Good morning, Lane! Thank you for joining

Tickers, please

GM from Centerville, MA
Good morning from LA!

G’morning Thursday crew, hello dark ops team. Let’s give Ed the entire show to talkk about Tesla. LOL
Good morning! I’m sure it will be discussed

GM Jacob
GM Phil

Alot of Green in my watchlist

TSLA is a great one to watch
Down over 6% pre market. Will be interesting to see

late to the party – tickers?

3 leaders this week. DUOL CRWD and ANET. PLTR flat
You raise a great point!

NU up >4% on MS report raising PT from 11 to 16 (!)
Interesting! That’s a solid increase

Why does auto manufactures G3711 not show BYDDF? Why does it have five letters. It’s sales are near TSLA’s.
It should be in there — and it does show up when you are on the top stocks button in right panel it shows, but not when you pull up the list for show all component data. Let me reach out to the team about this bug

PANW hold, add, buy?
Still a hold for me. Holdng the 10-day. Remarkable strength during the past few volatile days.

Good Morning
Good morning!

Arnie, will that market smith zoom on Saturday be recorded?
Almost all of the webinars from MarketSmith are recorded, but MarketSmith Academy on Saturday is an exception. It will be live only.

NVO Gap down. Any news onthis one?
I haven’t seen anything except for the GEHC partnership. LLY down too today.

GM guys What about PANW?
Good morning. There is so much to like about PANW, but it is down today.

LLY weak also on volume
You’re right. A very poor day for the stock.

LLY also down over 2% taking gains now
Rough day. High volume too

Medical warnings in the community to be aware of the fakes.
Have heard reports of that as well.

Novo Nordisk Buys Hypertension Drug Ocedurenone For $1.3 Billion yesterday – reason for price drop today?
Seems like that would have had its impact Wed. – but I didn’t see analyst reaction to the deal.

Please cover WWD
Technical picture has weakened. The stock had a hard time breaking out Tuesday in heavy volume. Sellers were around that day.

Hi Ed, did you mention LRCX earnings report this morning? Down over 4%
I did mention – I’ll cover it soon.

imo NVDA pre announced yesterday referring to there confirmation for this quarter!!?
NVDA said it didn’t expect a near-term impact on results after Biden admin tightened up restrictions on sales of AI chips to China.

What time is the Market Smith Academy webinar on Saturday? How to pre-register?
9:00am Pacific/12:00pm Eastern. You can register on the MS home page.

Jacob, can you please provide the link for Saturday’s MarketSmith Academy webinar.
If you go to marketsmith.investors.com and then scroll to the “Upcoming Webinars” section you will see the register button.

Any plans to add Anchored VWAP to MarketSmith? If so, can you please provide a time frame? Thanks
We have an open request with our tech team. Unfortunately, there is no timeline.

Good morning!
Good morning!

I guess we can take the trend line alert off of TSLA… ;-0
Good point!

Sorry. I meant to put it on my Market Smith ticker box
No worries!

Tough trading, hang in your positions unless they break a rule. Volatility is tough. I’m hanging onto my conviction stocks.
exactly right, Phil thx

distribution day = how much decline ?- on volume higher than previous day

BAH Working on being up 13 of the last 15 days. Strong upside volume for 5 of the day. EPS in 8 days. Its forecast for the 4th QTR and early 2024 will be interesting.
watching this one, thx Peter.

Awesome analysis Arnie on PLTR

$ESTC on the cusp of a breakout from 6 week bullish ascending triangle
Strong stock. Been acting well ever since Cisco announce plans to buy Splunk. 82.84 seems like an actionable pivot.

Certainly a leader over the last year. However, brutal day today

PLTR Does it bother anyone that its 4 Qs of increasing Earnings occurs with 4 Qs of declining sales? Or that it has Zero flagged funds ?
Good point that sales percentage change has been going the wrong way. We certainly prefer to see it accelerating and higher.

On MktSmth, there’s no way to set an alert tied to a SMA, is there? ….like if PLTR were to decline to its SMA(21)?
Hi Barry, unforetunately no. You will have to draw a trendline alert or a price alert

These charts are brutal

This market equals a “Death by a Thousand Cuts”
Well said! Another reason to be playing defense.

Someday – Can we cover the WmOneil screen?
Great point. I love the idea.

My favorite Ed Carson quote: “We’re not looking for moral validation in the stock market.”
That would be the ESG investors.

NFLX is killing the shorts
My goodness. You aren’t joking. Huge move

VRT – change of character?
I certainly don’t think we have seen it move like this since it started its big run.

even SMCI is coming back
Getting close to the 50-Day.

on my watch is NFLX FUBO AMZN WYNN
FUBO is a great service for sports!

What about ROE on TDW?
Very low. Would expect that there is a lot of equity for the company, but nevertheless its only 1%.

AMD moving
Nice point! Up over 3% today

Fundamental strength and strong leadership. Taking a hit today, but near the top of today’s range.

I’m getting use to the volatility. You have to hold your positions.
It feels like its becoming more common.

With all participants displayed vs before, person speaking, MarketSmith will not scale to the whole window (upper corner arrows). I want to see MarketSmith in full screen mode and just the person speaking. Thanks.
You can try pressing “view” and then “Fullscreen”. I apologize if I have misunderstood you.

$ESTC here she goes
Nice point! Looking strong

Looks like money moving out of medical. Thoughts on LLY?
We’re still holding a profitable position on Leaderboard. Let’s see what a test of the 21-line looks like.

NOW – up 2.7% on early hvy volume — not seeing any news …..
A lot of software names are up. SAP earnings probably helping biz software names.

LLY leaderboard stock looks like it is headed to the 21 day in the buy zone. Thoughts
We’ll wait and see what a test of the 21-day line looks like. Heavy volume today.

TBT is going higher….jezzz
Its almost running off the chart at this point.

META has Gapped UP the day after its last 3 EPS reports . . . .
Woah. Great stat.

Good Morning Justin. Where do I find the market maker move is TOS? Thanks
When you go to the Trade tab, it’s on the same line as the ticker at the end in yellow.

TSLA Absolutely Flabbergasted that a CEO would state: “Dug Our Own Grave” with the Cybertruck. Completely irresponsible. How about: We’re facing some head winds that will eventually subside.
Certainly not the type of commentary that we typically hear from business leaders.

Let em have it Ed! TSLA is way overvalued by hodlers, the cult is similar to crypto bros

Which is the MarketSmith list for short candidates?
Negative Alert and Evel Knievel Short Sale are both in the left panel of MarketSmith.

TSLA bummer for rest of 2023
It would be hard to argue with that.

Love Ed’s analysis of TSLA as well as his voluminous article on the website recently comparing TSLA and BYDDF, which was excellent.
Thank you for sharing your kind words!

Thanks, Ed. Great analysis on TSLA.
Really knows his stuff in the EV market. One of the best.

People often neglect to look at TSLA on the weekly. Since its 11/5/21 high, it has been unable to break out above a long-term, downtrending tops line. On 9/15/23 it tested that resistance and failed.
Great point. After such a huge move stocks will take take years to set up again.

How to find David Ryan’s MS lists? What is his author name?
If you go to “Browse Screens” type in “dryan310”.

I have a friend who pre-ordered a Cybertruck. I told him, he could now use it as a casket, since TSLA is diving your grave. (A little Halloween humor):).

Awesome work today. You guys tell it as is. Good or Bad.
Thanks Phil!

Great Session!! When Justin talks I have to look at the screen/chart!! Thanks!!
Thank you so much for the kind words!

I had tried that before contacting you. My “view options” are ‘fit to window” and “original size”.
Here is zoom’s support page for this kind of issue: https://support.zoom.us/hc/en-us/articles/115003322603-Changing-the-video-layout-of-a-Zoom-Room-display#:~:text=In%20Zoom%20Rooms%20with%20one,layout%20on%20the%20first%20display.

I remember when Elon said his stock was too low and then took shorts heads off. just my opinion but i wouldnt be shocked to see him trap shorts with his cybertruck comments
Possible. But there are a lot of production challenges with the CT. Lots of price/spec questions.

Great insights in our personal psychology: “Don’t let your conviction in a stock cause you to break your rules.” “Don’t NOT sell a losing stock because you’ll feel foolish in front of your friends.”
Love the quote. The rules are most important when you feel like breaking them.

Is NFLX magnificently hiding the market weakness today?
Somewhat – but Tesla overall is a bigger drag than Netflix helping.

What are your thoughts on NTNX pullback? Is the 21 day the average to watch since it lines up with 36.50/36.71 area?
Looking good. I’d like to see the 10 day tighten up along with the 21 day like it did at the beginning of the month.

Interesting that GPCR is still holdings recent gains. I don’t own it.
Excellent point. Impressive that its holding up for the most part.

GBTC moving straight up this morning.
Volume looks good today.

AMD has been out performing NVDA since 8/18/23.
Hm, interesting!!

UBER – thoughts on it’s action…
Down on high volume, getting very close to breaking below low of its base.

They just took out the TML’s in biotech
except for GPCR

EV’s, cybertruck, schmybertruck. My neighbor is getting some work done and there are 3 contractors trucks out there that you’d have to pole vault to get into. ICE trucks and cars aren’t going anywhere for awhile, for the good or bad
Ford Lightening has only 100 miles of range when you pull a camper trailer. Mainstream EV trucks are still a ways off.

thanks Ed always love your commentary

Great show Ed, what a good coincidence you host after a terrible Tesla earnings report lol

Have a wonderful Thursday. Make is a fun and enjoyable day. Thank you for your time and expertise – its greatly appreciated!!!
Love the positivity! Make it a good one!

Market selling off before Powell speech at noon
It will be interesting to see how the market reacts.

Any idea why AMZN is doing so well today?
Maybe some pre-earnings buzz. Results due next week, along with MSFT, NOW, META

Thanks, guys! Great info unfortunately a lousy day in the market. Catch you tomorrow!
See you tomorrow!

Ken did you hear that I shoy a -4 68 on Tuesday which was my ATL
Well done sir.

Tell Dave when he gets back
My goodness. Congrats. My career best is 75.

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