IBD Live Q&A Summary, Stock Lists For Wednesday, Dec. 6, 2023

Question
Answer

Good morning IBD family.
GM, thanks for joining

Please take a look of OLLI…Earnings are out. Is it good to start a new position? for education purpose only not a financial advise
will do our best to get to it.

Good Morning IBD Live!!!
Morning to you

Good morning everyone!
Hey Payam!

How about that bond run TLT?
Absolutely. Let’s keep a sharp eye on the monthly. To me, it really hasn’t cracked the long downtrend. And, in 2024, big question could be this: IF in fact the economy would go into a significant recession, would bond prices go up a lot, pushing TLT up a lot more? If they do, that would give Congress a humongous piece of relief as they battle the US deficit…

Good morning! Are we still on the Power Trend?
Hi Krishnakumar, GM! Yes we are; here is text from Monday’s Market School commentary — Monday, 12/04/2023: The Nasdaq composite got hit with a day of distribution on Monday but there were aspects of strength underneath the surface that are worth noting. First, the index came well off its lows. The Nasdaq was down as much as 1.72% but closed near the peak of its trading range with a loss of 0.84%. Volume was massive. It was the largest since the triple witching on Sept. 15. Second, the breadth continued to diverge in a positive way. Advancers beat decliners on both the NYSE and the Nasdaq exchange despite the weakness in the indexes. Megacap tech hid weakness under the surface for much of this year. Maybe they are hiding strength under the surface now? To that point, the small-cap Russell 2000 was up a full 1.06% as it continues to put some distance above its 200-day moving average line. The Market School rules are focused on the Nasdaq
composite but it’s worth keeping an eye on other indexes… More here — https://leaderboard.investors.com/#/market/marketschool

echo??
seems ok on my end

Good Morning, IBD Live!
GM, thanks for coming.

good morning everyone
GM, thanks for coming.

Ken – your backdrop / camera angle make you look like a special guest!
Ken is always special

Good morning! Are you keeping Ken in a secret location?
From his undisclosed private lair

review HRMY in lightening round
Hi Wayne, very nice rebound from the 18.61 low. Almost a 100% gain. Might digest those gains, then make a run at the declining 200-day MA. I like how there was a high-volume washout between 18 and 24 as the stock bottomed out.

Happy Hump Day. G’morning IBD panel, Dark Ops team. No two panelists in the same location, I see.
Hi Ken, what GPS app are you using? HA!

ARM being a ADR is it something to consider ?
Good Q. Not really IMHO as the daily volume is more than ample. Global company, too. Cheers, Hatman

BITF-Bitfarms on a tear
I noticed that! Bitcoin still quite strong.

AMD, NVDA, SMCI, with the new AMD chip, SMCI will benefit the most for its data centers.
live answered

NVDA launching new AI super computer. WOW
Wow indeed! Did you happen to listen to the Q3 conference call? Huang gave great details about its H200 AI supercomputer. 70 lbs, 35,000 components! Utterly amazing.

dang. BIRK broke out. hippies must have some happy feet
Ha ha! Dang I missed it too Philip. Let’s keep watching!

SHOP – nice Outside day, Upside Reversal w volume
Yep. Inside day today.

AVAV what a winner
I got out with a profit but it is a big disappointment.

GM from Phil Frat
GM buddy…

GE, MSFT, ARM, LLY, NVDA, CRM
live answered

tickers on their radar?
ARM SMH UBS

Sorry, long question but . . . casting around in case tech quits working and noticed TAN. Does the action starting week of 11/17/23 through today represent a character change?

Re components of TAN, only FSLR is > $10 and positive for year. On weekly basis ENPH, ENLT, CWEN, CSIQ are positive. Most names in G1320. Understanding this is not CANSLIM, is the water worth casting in or would you just move on? No response can = move on. : )
Less than 4% above the 50-day, so technically you could make a play and not risk too much. But is there a true shift in the industry?

just one day Justin – if you want a different market you might only have to wait a day
Good point, Francis!

2021 IPO, IREN. Has admittedly made a huge move but resembles a high tight flag/power play. Australian-based Canadian bitcoin mining company. Thoughts?
I think you’re fishing in the right pond!

Looks like a change in the overall trend for the medical sector. Pharma is picking up. AMPH is looking interesting
live answered

I watching ARM
live answered

where can we find the definition of a power trend
Here you go: https://www.investors.com/how-to-invest/investors-corner/what-is-a-power-trend/

Why is AVAV falling so much on an earnings beat ?
live answered

PLTR really falling out of bed
Hi Michael, doesn’t the pullback now look a little similar to the decline in Oct from 18.44 to 14.48?

Is MS having issues or is it me? Charts lagging badly
I.T. is working on it.

What the heck is happening to AVAV?
Hi Judy, Hatman here, let me say too that since the breakaway gap and close at 115, the stock delivered a 20%-25% profit; it’s really important to take gains in most of your winners in that zone. The Economist had a good editorial on how UKR is really relying on a new $60B arms supply package from the US, and $50B euros or so from the EU. The West appears to be waffling on further support — does this crimp demand in the short term for drones? Plus, AVAV has had a great short-term run, a pullback is def not out of the question IMHO. Cheers — https://www.investors.com/how-to-invest/investors-corner/how-to-handle-stock-market-expectations/

Good morning… what is happening with AVAV opening more than 10% down?
I don’t know. While AVAV hiked its full-year earnings outlook, the midpoint is still below consensus … even with the big Q2 beat. Also, backlog fell.

MDB setup still looks ok?
Not great if you bought on the official breakout, fine if you bought on the early entry (or just watching). Looking like it’s bouncing off the 21-day.

DKNG, please… Thx!!
live answered

Is MS platform working?
I.T. is working on it.

anyone having difficulties with MarketSmith? very laggy here.
I.T. is working on it.

Marketsmith stopped working about 10 mins ago
I.T. is working on this issue and will hopefully resolve shortly.

Good morning! Is there any issue with MarketSmith? The lists are not loading for me. Charts are slow too.
I.T. is working on this issue and will hopefully resolve shortly.

PDD – any thoughts on an aggressive entry off the 5EMA here? I find this can be a workable strategy on gappers in a strong bull environment.
Little too aggressive for me. But pick a moving average and size your position accordingly.

MS is very slow today
I.T. is working on this issue and will hopefully resolve shortly.

GTLB following thru
Nice!

what is going on with marketsmith? very slow
I.T. is working on this issue and will hopefully resolve shortly.

seems volume very high on ARM
live answered

IBD and MS charts are very slow this morning?
I.T. is working on this issue and will hopefully resolve shortly.

Is MDB a pull back buy prospect here?
I reentered it this morning but am down a little.

ARM is a very exciting company
live answered

MDB is it a buy on the 21 day here ?
live answered

what’s going on with Marketsmith. No charts, no lists. just the basic outline
I.T. is working on this issue and will hopefully resolve shortly.

IONQ and IOT???
live answered

Morning all!
Morning, thanks for joining.

SYM surging
live answered

Good morning! Watching SN closely
GM Doug! Me as well.

Guys, you all really need to get MS fixed. This is becoming a signficant problem. We are flying blind here. And, some have a lot of money invested. No need to respond. i know you are working on this.
IT aware and working on this. Thanks for your patience.

Thuoghts on OLLI
live answered

“MDB

2,000%… Volume.. After EPS..

Dipped down to 398.. but now moving strongly towards 412.67 Pivot..”
And 400 seems a very important century mark in price…

BSY?
live answered

and… MDB.. now passed Pivot… $413.40…
Curious if a base on base forms.

CRSP …..New america ticker please
live answered

Hello Is MDB actionable? it’s coming back up
live answered

SYM pulling back huge green bars today
live answered

MDB a whole bunch of price targets raised
live answered

Perfect question Ali
live answered

Can you look at BLDR?
live answered

There were unusal put options on MDB during whippinesss
Ah ha! good eye, Julie! Mahalo!

Any thoughts on CRS? Thank you!
live answered

GTLB in buy zone ?
It’s extended. Ralph, pls check out the trendline entry connecting 54.38 high w/ the 50.08 Nov high; that gave you an early entry near 48-49. Now, let’s see if the stock forms a shelf, a 3 weeks tight, or pulls back to the 10-week line —
https://www.investors.com/how-to-invest/investors-corner/how-to-buy-stocks-why-the-10-week-moving-average-offers-new-entry-points/ + https://www.investors.com/how-to-invest/investors-corner/how-the-3-weeks-tight-pattern-gives-you-an-extra-buy-point/

LOPE
Wow, nice action since that huge move last month. Feels like a shelf has formed, or it could morph into a flat base w/ a 140.67 entry. Nice one to cover, thanks James.

DSC: TLT and little bros ZROZ, EDV are gapping yesterday and today. I’m thinking uptrend early days… changing monetary policy…long term chart reversion to mean. From today, draw a horizontal red line backwards across the monthly chart and
picture fed rates from GFC on. Patience rewards a long term hold.
I like your analysis here. Thanks Philip.

AVAV? Strong EPS & guidance. Down sharply.
I belive the full-year EPS guidance, though raised, was below consensus … even with the big fiscal Q2 beat. Backlog declined in Q2.

What is going on with MNDY?
Probably a reaction to peer ASAN – nice bounce back. Also, SMAR reports Thu.

Depends on where you are at. I’ve seen an Ollies were my son goes to school @ Purdue Fort Wayne and lot is typically empty when I drive by it.
live answered

Thoughts on action in SN after shareholders 6.1 million offering price set at 47, which is above cup with handle pivot and rising 21 day? Big holiday season for them.
Very much could be!!

Our Ollie’s has cheap quality, but even cheaper prices. Bought lots of books there. Always a line at the registers. Great store, though.
live answered

I’m having problem with opening my Marketsmith app, iPhone. Anybody?
Try quitting and relaunching

SYM is a AI play with Robotic tech
live answered

Thoughts on BSY?
live answered

SYM has all their orders for 2024. Walmart is huge and Albertson’s
live answered

Can we get a comment on ELF this morning
live answered

cant hear Ken
live answered

TSLA, most cybertruck reviews are excellent, both in terms of engineering and performance. Keep a close eye on this stock.
I’ll be interested to see what independent car reviewers, etc. think in a few months when they finally get access. In the meantime, Tesla inventory discounts keep mounting in the U.S./Europe.

Really disappointed with Marketsmith downtime. I hope you are doing a root cause analysis to avoid these issues in the future!
Our engineers are actively investigating. Thank you for your patience! So sorry for the inconvenience… I am frustrated as well.

Justin, I tested that for ALL (alive and dead) stocks from 1963 to 2013 with a pivot above $10 and yes Bill was right 50% of stocks would pull back to their pivot…that was tens of thousands of bases over history.
Thanks for this, Webby!

marketsmith charts not loading on desktop. IT?
Try quitting and relaunching?

it’s on your end IBD, been poor a while. invest.
Our engineers are actively investigating. Thank you for your patience! So sorry for the inconvenience… I am frustrated as well.

MarketSmith seems slow/delayed this AM — is it experiencing issues?
Our engineers are actively investigating. Thank you for your patience! So sorry for the inconvenience… I am frustrated as well.

Private: MS is broken for us out here and cannot see any lists, etc.. Did the “shut it down, restarted, cleared cookies, etc.” all the usual stuff. Just a suggestion: when IT tells you it is back, could you let us know (either on the show or by email).
Passing along to our team, which is actively troubleshooting. Thanks for your patience.

BLDR to join sp500 next friday amc
live answered

Anyone else having trouble with Marketsmith? I keep getting the message: error[object Object]
Our engineers are actively investigating. Thank you for your patience! So sorry for the inconvenience… I am frustrated as well.

Anyone else having issues with MS mobile
Our engineers are actively investigating. Thank you for your patience! So sorry for the inconvenience… I am frustrated as well.

Are other people having issues with MarketSmith not loading. I have done all the tricks of signing out and resigning in. Nothing works
Our engineers are actively investigating. Thank you for your patience! So sorry for the inconvenience… I am frustrated as well.

Actually, per customer service, MarketSmith is down for all clients.
Our engineers are actively investigating. Thank you for your patience!

marketsmith is slow today
Our engineers are actively investigating. Thank you for your patience!

why is market smith sooooooo slowwwww
Our engineers are actively investigating. Thank you for your patience!

NEWS: @elonmusk says Tesla is far advanced in the development of their next-gen low cost vehicle and that he reviews the production plans for that every week. ” “The revolution in manufacture that will be represented by that car will blow people’s mind. It’s not like any car production that anyone has ever seen; The first production line will be at Giga Texas. Giga Mexico will be the second place.
It would take too long to complete the factory in Mexico.” “
No design/no prototype. While the next EV may “look” normal, it’s supposed to have a lot of internal changes to save costs. Musk also expects a manufacturing “revolution.” Those might take a lot of time! Tesla usually has multiyear delays *after* revealing a prototype. Also, I’m interested in the batteries/tax credits. The base Model 3, as currently set up, will have no IRA tax credits starting in 2025, because it uses cheaper LFP batteries from China’s CATL. Tesla will presumably try to find other batteries for the Model 3, and it probably will (though likely more expensive). But sourcing enough batteries for a cheap EV (which has to be high volume to be worthwhile) is a challenge to be sure.

I MISS having a programmer! BIG TIME
And we miss having you!

Please repeat the result of the Mike Webster stock. I didn’t quite catch it. Thanks.
From Webby: “Justin, I tested that for ALL (alive and dead) stocks from 1963 to 2013 with a pivot above $10 and yes Bill was right 50% of stocks would pull back to their pivot…that was tens of thousands of bases over history.”

MarketSmith is once again really slow on its reaction time to inputs…disappointing
Our engineers are actively investigating. Thanks for your patience. I’m frustrated as well!

Trying to login to marketsmith and the login has gone away for me. Is this a me problem, or is something happening with marketsmith? Thanks
Our engineers are actively investigating. Thanks for your patience!

POWL – stock down. Can we discuss this?
live answered

what’s your thoughts on AFRM?
Too extended from its moving averages and proper buy point for a buy. A hold for those who own in my view. Could trim some profits here, depending on trading style, but wouldn’t sell all.

What does the orange bubble mean on the subchart? Thanks
Typically highlights largest volume since base

Where do I find closing range in MS?
live answered

there are no lists?
The investigation is ongoing but the charts appear to be back — audience wanted an update when that happened so that’s why I took a moment to say something

Just curious. Is Leaderboard trading real money or paper?
Paper money, but the team takes it very seriously.

Charts not working yet.
Try quitting and relaunching?

dkng
live answered

Elf
live answered

How do you calculate the true range of that OLLI gap up and in general? Prior day’s low to current day’s high, and then the ATR % is the current price?
(current price – previous close)/(high – previous close)

Still not working after another restart.
Reporting to engineers

ddog ?
live answered

Regarding LLY: is passing thru 50 day a buy point?
I’m looking for LLY to clear a declining-tops trendline to add.

can you comment on Splunk (SPLK)?
It’s a Cisco buyout

charts not working. Tried quitting and relaunching ten times
Reporting to engineers

Thanks EC. Any idea y there has been radio silence on Brian Shannon’s stock AFRM. Been asking 4 days 4 someone to take a look at it. Big gainer. Y no love?
It looks great, but it’s greatly extended from any buy point. So we haven’t spent much time on it

MNDY another example of wild intraday
ASAN likely having an impact.

Thoughts on CRS pulling back to pivot here?
live answered

Ali $NU please
live answered

“Hat Man…I designed Pattern Rec to identify bases…NOT to tell you if it was a GOOD base. If YOU don’t like handles that are greater than 12% YOU are going to miss a TON of Model Book stocks for example Charles Schwag had a 27% deep handle,
AOL had a 32% deep handle, I could give you a hundred more. The depth of a handle should be proportionate to the depth of the base…just an FYI a 40% to 50% deep cup will rarely have a 12% deep base. Also, PR defaults to the largest base.”
Key details here, thanks Mike

CRSP
live answered

STNE
live answered

Ed’s cat looks mad….feed him/her! Lol
He does have a grumpy look a lot of the time. But a very sweet, gentle cat.

I believe SMCI has a secondary
Yes, that announcement/pricing took place last week. Super Micro speaks at the Barclays Global Tech Conference on Thu. at 11:35 a.m. ET.

Hopefully u can have someone look at AFRM tomorrow. I’ll keep asking. Thanks.
It’s way too extended to buy. Traders can either hold or lock in partial profits depending on their trading style.

Thank you for the great show and thoughtful commentary.
live answered

$40.97. If it goes through it would appear to be a potential buy/add on
I suppose. It’s not something I would be interested in that extended from moving averages. If AFRM were to pause around these levels, take a bit of a break, that would be more appealing. Also, it would be sign that the resistance level is actual resistance.

Ali, make a note, please, to talk to Eric Krull about FOUR and where it stands in the Life Cycle Trade view. I think he’s coming Friday. ?
Yes, he’s our Friday guest! Please make sure to remind the team on Friday in the chat