Wishing Wealth Blog

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Here is where traders could have prospered the past few weeks. As semiconductors did before them, these stocks have dominated the list of stocks at ATHs. If you did not trade any of them them you might want to rethink your stock selection rules. Seven of them are two times or more their yearly lows, shown in the last column.

Come to my online presentation at the MoneyShow on October 20 and learn how to spot GLBs and Blue Dot oversold bounces.  Here is the link to the free registration. If you cannot attend, you can get the free recording.

By mistake, I filtered stocks that had a rising Blue Dot setup on Tuesday evening. I usually filter stocks that reached an ATH, of which oil &gas stocks had the most today (10). I found the most stocks with a rising Blue Dot were semiconductors. Does this mean that semis are bottoming? We will need to see. I will be speaking about the rising Blue Dot setup at the MoneyShow virtual event on October 20, register free here.  It is a 30 minute online speech and if you register you can gain access to the recording. I hope to see you there. I will make an exciting announcement.

Here are the 11 stocks. Note how many have doubled from their yearly lows, shown in the last column. I have found that when many stocks in the same industry reach an ATH it can be strong bullish sign. I wonder if many stocks in an industry have bounced from oversold, it also means something important. Money tends to flow into  groups.

Here is an example chart of AMD. If I buy an oversold bounce, I put a sell stop just below the low of the bounce.