QQQ

At the Minervini WorkShop I attended last October I met a lot of skilled traders. I have been following the tweets of one of them which have conntained good ideas of stocks to monitor. That is why I focused on ANET. You can follow him yourself  @TMLTrader

After a weak market (caused by a trumped up election) when everyone becomes scared to buy anything, I have noticed that people first wade back into the market with the reliable (safe?) big names and dividend payers. After people gain profits and confidence, they move into more speculative stocks. Could that explain why the FANG stocks (FB, AMZN, NFLX,  and GOOGL) are coming back to life? (It really does not matter why!)

However, my read of this daily chart, is that FB is not yet out of the woods. FB is still below its flat 30 week (150 day, blue dotted line) average and faces resistance around 123. Will FB get a face lift?

A lot of stocks I follow broke out on Wednesday. One of them, ANET, which I found after a fellow tweeter alerted me to it, took off on nice volume. It has also appeared on several IBD lists (IBD Composite rating=98). Note the recent green line break-out (GLB) to an all time high. I bought some. Earnings on 2/16/2017.

For a while it looked like the QQQ short term up-trend would end on Tuesday, but the end of session strength pulled the indexes back from the edge. I tweeted intraday (@wishingwealth) about one GLB, VNTV, that closed at an all-time high. I have a position in VNTV but will sell out quickly with a close below the green line, around 60. The break-out would have been more impressive if trading volume had been greater.

VNTV has a strong RWB pattern, with an RWBCount=12 (of 12).