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.
