Tackle Today: How to Tell What’s Hot Each Day
August 11, 2021
≈Use % Change≈
Traders,
One of my favorite tricks for quickly spotting what’s hot and what’s not each day is to sort my watchlist by percentage change (%change). You must look at the change by percentage and not dollar amount because if you do the latter, it will consistently spotlight expensive stocks. Substantial moves made by sub-$100 equities will get lost in the shuffle.
All you have to do is add %change to the column heading of your trading platform’s watchlist feature, and it should allow you to sort by it.
The skeptic will say that a single day’s performance could be an aberration – noise, in other words. And that’s undoubtedly true. But you’ll often find that the largest gainers are either just beginning a new trend or seeing increased momentum. In either case, the hefty price pop usually suggests institutions are entering the fray, and continuation is likely.
Tuesday’s trading session is instructive. Allow me to list a few of the stocks peppering the leaderboard: NUE, AA, FCX, X. Do you know what they all have in common? They all call the basic materials sector home. How appropriate that on the day the Senate passes a $1 trillion infrastructure bill, steel and aluminum stocks go wild. Sometimes the stock market does make sense!
#TeamTackle
Chart of the Day
The Most Amazing Earnings Quarter in History?
Listen – it’s one thing for a small-cap or mid-cap company in the hyper growth phase of the business life cycle to see 50% to 100% annual growth. It’s quite another when the largest companies on the planet – those that already dominate their industries – can create such eye-popping growth. The earnings numbers just put up are stupefying. No wonder the stock market just can’t stay down.
Video of the Day
Halftime Report
Today’s line up
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