Category: Public

March 20, 2021

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in consolidation. Gold tried to move up on FED day but gave it all back. Silver is in consolidation.

Crude oil is down with more to come. Natural gas looks lower also.

The US 30 Year Treasuries are selling hard but look to consolidate and retrace here.

The US Dollar futures are consolidating after the new long entry.

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S&P 500 Futures_

Monthly – Backed off the highs. Trade pressures are up. Volumes closed the month of February as bullish. The next target up is 4366. A close below 3491 would confirm any weekly close lower.

Weekly – In the move up from the 3550 long entry signal. Trade pressures are up but showing divergences. Volumes are bullish. The next target up is 4094. A close below 3686 would confirm any daily move lower.

Daily – Short. In the move down from the March 18th short entry at 3918. Trade pressures are down. Volumes are bearish. The next target down is 3830 then 3739, A close above 3965 would signal higher. First quarter earnings catalyst not until mid april.

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Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2021 year. This portfolio has been marked to the market and restarted at $100,000 for the 2021 year.

The portfolio stocks consolidated this week and ended the week at approximately $118,000, up 18% for the 2021 YTD. The portfolio had a brief touch of the $150,000 value in early March.

[The author may have long or short positions in any of the securities mentioned.]

March 15, 2021

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a retracement down of the recent highs. Gold is testing the downward sloping median line and could rally. Silver could go either way.

Crude oil is at highs and in a small retracement. Natural gas looks lower but could have a relief rally at any point.

The US 30 year Treasury continues lower to the lower 150’s.

The US Dollar futures are having a small retracement rally above 91.

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S&P 500 Futures_

Monthly – Pushing back to the prior highs. Trade pressures are up. Volumes closed the month of February as Bullish. The next target up is 4366. A close below 3491 would confirm any weekly move lower.

Weekly – Comfortably above the 3926 upside target. Trade pressures are up. Volumes are bullish. The next target up is 4094. A close below 3648 would confirm any daily move lower.

Daily – Long the short signal was voided with price taking out 3881. Trade pressures are up and trending. Volumes are bullish. The next target up is 4035. A close below 3854 would reconfirm a move lower.

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The portfolio stocks were down hard during this week but rallied to approximately $116,000, up 16% for the 2021 YTD. The portfolio had a brief touch of the $150,000 value in early March. Volatile!

[The author may have long or short positions in any of the securities mentioned.]

March 6, 2021

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper tracking down with the equity markets. Gold down to the downtrend line. Silver looking to test the 200 day MA.

Crude oIl rallied to the uptrend line. Nat gas seeing downward pressures.

The US 30 year Treasury is steadily down mirroring the re-opening trade.

The US Dollar futures are up in a new uptrend.

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S&P 500 Futures_

Monthly – The close remains above the prior month high. Trade pressures are up. Volumes closed the month of February as bullish. The next target up is the 3918 prior target. A close below 3491 would confirm many weekly move lower.

Weekly – Still in the move up from the 3550 November long entry. Trade pressures are up. Volumes are bullish. The next target up is 3926. A close below 3656 would confirm any daily move lower.

Daily – The short signal remains intact. Trade pressures are down but rising. Volumes are bullish. The next target down is 3725 which was breached but did not close below. The sharp rally Friday may be short covering, but was very strong nonetheless. A close above 3881 would signal higher.

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The portfolio stocks were down hard this week and are now valued at approximately $108,000, up 8% for the 2021 YTD. The portfolio had a brief touch of the $150,000 value in previous weeks but the tech selloff took back all the gains made in the first two months of the year.

[The author may have long or short positions in any of the securities mentioned.]

February 27, 2021

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper now a short, with the equity markets. Gold in the downtrend. Silver remains in the uptrend.

Crude oil is a short in the OPEC meeting. Natural gas has triggered a short entry.

The US 30 year Treasury bond continues the move down, but shows some short covering.

The US Dollar futures are basing and exhibiting some signs of strength.

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S&P 500 Futures_

Monthly – Overshot the 3918 target and now in a pullback from there. Trade pressures are still up. Volumes closed the month of February as bullish. the next target up is now that 3918 target. A close below 3738 (2008-09 projection) would presage a weekly move lower.

Weekly – Remains in the move up. Trade pressures are up. Volumes closed as bearish for the week. The next target up is 3926. A close below the 3656 short entry would confirm any Daily move lower.

Daily – Short. In the move down from the 3864 short entry. Trade pressures are down. Volumes are bearish. The next target down is 3769, then 3725. A close above 3934 prior high would signal higher. Use this as a short stop level.

[03-01-21: the rally has taken price near resistance. Enter short at the 3924 level. set stop at the prior swing high, 3934.] [03-03-21: [Not executed, cancel this open order.]

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The portfolio stocks were down this week and are now valued at approximately $127,000, up 27% for the 2021 YTD. The portfolio had a brief touch of the $150,000 value last week. Hindsight.

Docusign (DOCU) will be replaced by Logitech (LOGI) at the Monday opening.

[The author may have long or short positions in any of the securities mentioned.]

February 26, 2021

Navellier Top 5 Stocks for March

The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.
(For this 2021 year, SOM will track only the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

Navellier says,

High-Growth Investments

CrowdStrike Holdings, Inc.

CrowdStrike Holdings, Inc. (CRWD) is on a mission to thwart cyberattacks and data breaches on and off businesses’ networks. The company offers real-time endpoint security, threat intelligence and cloud workload protection. Through its CrowdStrike Falcon platform, it provides 16 modules for next-generation antivirus protection, firewall management, malware search engine and analysis, threat intelligence and threat hunting.

With more folks working remotely and businesses relying on the cloud to connect their employees and make their data/resources available, CrowdStrike’s software is more important than ever. So, it’s not too surprising that it’s seen a surge in customers recently. At the end of the third quarter, CrowdStrike had 8,416 total subscription counts, or an 85% year-over-year increase.

CrowdStrike is scheduled to announce fourth-quarter results on March 16, and analysts are anticipating blowout earnings and sales. For the fourth quarter, the company is expected to report earnings of $0.08 per share on $250.44 million in revenue. That’s up from an earnings per share loss of $0.02 and revenue of $152.11 million in the fourth quarter of 2019. Analysts have also increased earnings estimates by a whopping 700% in the past three months, so a quarterly earnings surprise is likely. CRWD is a Moderately Aggressive buy below $244.

SOM Technicals:

01-29-21: Closed at 215.80. Trade pressures are rising into the neutral zone. Volumes are bullish. In the down move with the overall market. The next target down is 180.62.

02-05-21: Closed at 223.53. Trade pressures are up. Volumes are bullish. Still in the downtrend, support at 223.

02-12-21: Closed at 242.10. Trade pressures are up. Volumes are bullish. Now at the 100% target for the November move up.

02-19-21: Closed at 239.20. Trade pressures are now down into the neutral zone. Volumes remain bullish. The next target down is 215.00.

02-26-21: Closed at 215.67. Trade pressures are down but rising. Volumes are bearish. The next target down is 193.36.

03-05-21: Closed at 183.12. Trade pressures are down. Volumes are bullish. Found support at 168.67, the Lower ML.

03-13-21: Closed at 199.00. Trade pressures are up but declining. Volumes are bearish. The next target up is 226.09,

03-20-21: Closes at 194.63. Trade pressures are down. Volumes are bearish. The next target down is 169.71 with support at 177.00.

Logitech International

Logitech International (LOGI), like CrowdStrike, has benefited from more and more folks working remotely over the past year—and the great news is that trend isn’t going away any time soon. A recent survey by Gartner revealed that 80% of the companies it surveyed will permit at least part-time remote work and 47% will allow full-time remote work. So, home office supplies and communication equipment will remain in strong demand for the foreseeable future.

If you recall, Logitech provides keyboards, mice, iPad and tablet accessories, smartphone accessories, headsets, webcams, home security cameras, smart home devices, video conferencing tools and speakers. So, Logitech stands directly in line to continue benefiting from the work-from-home trend.

Back in January, Logitech revealed that it achieved earnings of $476 million, or $2.45 per share, and revenue of $1.67 billion in its third quarter in fiscal year 2021. That represented 214% year-over-year earnings growth and 85% year-over-year revenue growth. These stunning results inspired the analyst community to increase their outlooks for the fourth quarter.

For the fourth quarter in fiscal year 2021, analysts are looking for earnings of $0.76 per share and revenue of $1.05 billion. That’s up from earnings of $0.42 per share and revenue of $709.25 million in the fourth quarter of 2020. Analysts have upped earnings estimates by 49%, which bodes well for another quarterly earnings surprise. LOGI is a Conservative buy below $117.

SOM Technicals:

12-19-20: Closed at 94.85. Trade pressures are up. Volumes are bullish. In the move up from 86.80. The next target up is 99.86.

12-26-20: Closed at 92.96. Trade pressures are down into the neutral zone. Volumes are neutral. The next target up is the prior high at 95.94.

01-01-21: Closed at 97.19. Trade pressures are up. Volumes are bullish. The next target up is 99.86.

01-08-21: Closed at 104.85. Trade pressures are up. Volumes are bullish. Zipped thru the 99.86 level; at the 105.70 target. Expect some retracement.

01-16-21: Closed at 100.91. Trade pressures are down. Volumes are bearish. Now in the new short. The next target down is 97.12 which is also a support level.

01-22-21: Closed at 104.20. Trade pressures are up. Volumes are bullish. Testing the 105 highs.

02-26-21: Closed at 108.50. Trade pressures are down but rising. Volumes are neutral. The next target down is 102.28.

03-05-21: Closed at 95.19. Trade pressures are down. Volumes are bullish. Found support at the 91.99 downside target.

03-13-21: Closed at 98.96. Trade pressures are up. Volumes are bearish. The next target up is 102.26.

03-20-21: Closed at 101.67. Trade pressures are up. Volumes are bullish. The next target up is 105.86.

Novavax, Inc.

Novavax, Inc. (NVAX), our developer of vaccines for the toughest viruses in the world, announced this week that it plans to file for emergency use authorization (EUA) for its COVID-19 vaccine with the FDA in April. Based on its UK-based trials, the company recently revealed that its vaccine was 89.3% effective in preventing COVID-19. Novavax finished enrolling volunteers for its U.S.-based study this week and expects positive data at the beginning of April. After which, it will file for an EUA.

In the meantime, Novavax will post fourth-quarter results after the stock market closes on Monday, March 1. For the fourth quarter, Novavax is expected to report an earnings per share loss of $1.15, which compares to an earnings per share loss of $1.13 in the same quarter a year ago. Fourth-quarter revenue is forecast to surge 3,846.5% year-over-year to $347.92 million, up from $8.82 million in the fourth quarter of 2019.

Remember, Novavax is more of a speculative buy as the company is still in the midst of achieving profitability. But the good news is that first-quarter earnings estimates are outstanding: Analysts are expecting earnings of $2.93 per share, or 605.2% annual earnings growth. NVAX is an Aggressive buy below $364.

SOM Technicals:

9-26-20: Closed at 113.56. Trade pressures are up. Volumes are bullish. The next target up is 129.69.

10-11-20: Closed at 111.12. Trade pressures are up and trending. Volumes are bullish. The next target up is 129.00.

10-17-20: Closed at 107.04. Trade pressures are down. volumes are bearish. A close below 101 would signal lower.

10-24-20: Closed at 93.13. Trade pressures are down and trending. Volumes are bullish. the next target down is 73.45.

10-30-20: Closed at 80.71. Trade pressures are down but rising. The next target down is 73.45. A close above 117.39 would start a new move up.

11-07-20: Closed at 89.86. Trade pressures are up but reversing. Volumes are bullish. Need a close above the 25×5 at 98 to restart the move up.

11-14-20: Closed at 96.60. Trade pressures are up. Volumes are bullish. A close above 100 would signal higher.

11-20-20: Closed at 86.60. Trade pressures are down. Volumes are bearish. At resistance. The next target down is 73.45. A break of the resistance would signal higher to 117.39.

11-29-20: Closed at 126.20. Trade pressures are up. Volumes are neutral. Thru the 117 target and now at the 123 target. The next target up is 160.90.

12-05-20: Closed at 126.25. Trade pressures are up but declining. Volumes are neutral. In a retracement inside the move up. The next target down is 94.06.

12-11-20: Closed at 124.88. Trade pressures are up. Volumes are bearish. The next target up is 162.34.

12-19-20: Closed at 124.85. Trade pressures are up into the neutral zone. Volumes are neutral. Need a break above the 136.00 level to establish a new long.

12-29-20: Closed at 129.34. Trade pressures are up. Volumes are neutral. A close above 133.09 would signal a new move up.

01-01-21: Closed at 111.54. Trade pressures are down. Volumes are bearish. Closed below the 25×5 MA . The next target down is 94.09.

01-08-21: Closed at 121.69. Trade pressures are up but reversing. Volumes are bearish. The next target down is 94.09.

01 -16-21: Closed at 127.43. Trade pressures are up. Volumes are bullish. Have closed above the upper median line. the next target up is the prior high at 150.50.

01-22-21: Closed at 126.98. Trade pressures are down but rising. Volumes are bearish. Support is 105.70.

01-29-21: Closed at 220.69. Trade pressures are up. Volumes up huge on the vaccine trial news, but finished as neutral. The next target up is 248.09.

02-05-21: Closed at 290.18. Trade pressures are up. Volumes are now neutral. Past all near term targets. A double in 20% percent of the portfolio makes the returns soar.

02-12-21: Closed at 289.76. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 275.27.

02-19-21: Closed at 277.88. Trade pressures are rising into the neutral zone. Volumes are now neutral. Bounced off support at 250.00.

02-26-21: Closed at 238.42. Trade pressures are down. Volumes are bearish. The next target down is 149.15.

03-05-21: Closed at 174.84. Trade pressures are down. Volumes are bullish. Found support at the 149.15 downside target.

03-13-21: Closed at 202.77. Trade pressures are up. Volumes are bullish. The next target up is 260.18.

03-20-21: Closed at 228.25. Trade pressures are up but declining. Volumes are bullish. The next target up is 260.18.

United Microelectronics Corporation

United Microelectronics Corporation (UMC) shares have pulled back a bit from the all-time highs achieved in early February, and that’s giving us a great opportunity to scoop up shares of this semiconductor company. Based in Taiwan, UMC provides foundry services, developing and manufacturing integrated circuits (ICs), and its wafers are used by every corner of the electronics industry. So, it’s not surprising that UMC’s business is booming.

In the fourth quarter, UMC achieved earnings of $0.16 per ADS, or 166.7% year-over-year earnings growth, and revenue of $1.59 billion. The consensus estimate called for earnings of $0.06 per ADS and revenue of $1.57 billion, so UMC posted a whopping 166.7% earnings surprise and a slight revenue surprise. The company also reported 19.3% annual revenue growth and 200.7% annual revenue growth for fiscal year 2021.

Given the global semiconductor shortage right now, many chip manufacturers like UMC are scrambling to increase production to better keep up with demand. As a result, analysts expect UMC’s earnings and revenue to continue to expand in 2021.

For the first quarter, earnings per ADS are forecast to soar 166.7% year-over-year to $0.08 per share and revenue is expected to grow 19.7% year-over-year to $1.68 billion. Earnings estimates have nearly doubled in the past month, too, so another quarterly earnings surprise is likely. UMC is a Moderately Aggressive buy below $11.

SOM Technicals:

12-19-20: Closed at 8.13. Trade pressures are up. Volumes are neutral. Support is at 7.69.

12-26-20: Closed at 8.29. Trade pressures are up. Volumes are neutral. Support is at 7.69.

01-01-21: Closed at 8.43. Trade pressures are down into the neutral zone. Volumes are neutral. Support is now 7.90.

01-08-21: Closed at 8.52. Trade pressures are up. Volumes are bearish. Support is now 7.90.

01-16-21: Closed at 8.78. Trade pressures are down into the neutral zone. Volumes are bearish. Sharp pull back off the 9.64 high. The next target down is 8.43.

01-22-21: Closed at 10.27. Trade pressures are up. Volumes are bullish. The next target up is 10.77.

01-29-21: Closed at 9.05. Trade pressures are down. Volumes are bearish. At support.

02-05-21: Closed at 9.62. Trade pressures are up. Volumes are bullish. The next target up is 10.77.

02-12-21: Closed at 10.78. Trade pressures are up. Volumes ae bullish. The next target up is 11.46.

02-19-21: Closed at 10.33. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 10.77.

02-26-21: Closed at 9.74. Trade pressures are down. Volumes are bearish. The next target down is 9.23.

03-05-21: Closed at 8.61. Trade pressures are down. Volumes are bullish. Support just above the prior low of 7.85.

03-13-21: Closed at 8.78. Trade pressures are up. Volumes are bearish. The next target up is 9.98.

03-20-21: Closed at 8.23. Trade pressures are down. Volumes are bearish. Support at 7.75.

Zoom Video Communications, Inc.

Zoom Video Communications, Inc. (ZM) is making its ninth-straight appearance on the Top 5 Stocks list—and for good reason: The company’s business is zooming!

A recent report by MarketsAndMarkets revealed that the enterprise video market, which includes Zoom, is expected to reach $25.6 billion by 2025. Or, in other words, it’s forecast to rise at a 9.3% compound annual growth rate (CAGR). The report also noted that cloud video solutions are anticipated to accelerate during this timeframe, and that’s great news for Zoom.

Already, the analyst community is expecting the company’s top and bottom lines to more than double for the foreseeable future. Take the fourth quarter, for example. Zoom will announce fourth-quarter results on Monday, March 1, and the consensus estimate calls for earnings to surge 426.7% year-over-year to $0.79 per share. Fourth-quarter revenue is forecast to soar 331.2% year-over-year to $811.77 million.

For fiscal year 2020, Zoom is also expected to achieve 314.5% annual revenue growth and 731.4% annual earnings growth. Analysts have also upped fourth-quarter and full-year earnings estimates over the past three months, so Monday’s earnings release is lining up to be an outstanding one. ZM is a Moderately Aggressive buy below $453.

SOM Technicals:

7-30-20: Closed at 253.91. Trade pressures are down but rising into the neutral zone. Volumes are bearish. The next target down is 209.79.

8-7-20: Closed at 258.73. Trade pressures are down. Volumes are Bearish. The next target down is 239.12.

8-15-20: Closed at 244.91. Trade pressures are up. Volumes are bearish. Rising into net bearish volumes after reaching the 227.53. target. Need to get thru the 25×5 MA at 254.63, otherwise more downside.

8-21-20: Closed at 289.68. Trade pressures are up and trending. Volumes are bullish. The resistance was non- existent. A new long entry was triggered at 271.00.

8-29-20: Closed at 299.27. Trade pressures are up. Volumes are bullish. The next target up is 314.82.

9-5-20: Closed at 369.89. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 314.78 which would close the gap up.

9-12-20: Closed at 383.00. Trade pressures are now up. Volumes are bearish. A close below 376 would signal a new leg down.

9-19-20: Closed at 438.73. Trade pressures are up. Volumes are bullish. In the new move after a back test to try to close the gap at 345. The next target up is 470.76.

9-26-20: Closed at 496.50. Trade pressures are up but declining. Volumes are now neutral. The next target down is 452.23.

10-11-20: Closed at 492.41. Trade pressures up Volumes are bullish. The next target up is the 529.74 prior high.

10-17-20: Closed at 559.00. Trade pressures are up and trending. Volumes are bullish. the next target up is 594.76.

10-24-20: Closed at 511.52. Trade pressures are down. Volumes are bearish. The next target down is 487.96.

10-30-20: Closed at 460.91. Trade pressures are down. Volumes are bearish. The next target down is 446.50.

11-07-20: Closed at 500.11. Trade pressures are up. Volumes are bullish. Need to clear the 25×5 resistance at 501.00.

11-14-20: Closed at 403.68. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 357.00.

11-20-20: Closed at 439.60. Trade pressures are up. Volumes are now bullish. The next target up is resistance at 470.00.

11-29-20: Closed at 471.61. Trade pressures are up. Volumes are bullish. At the 470.75 target. The next target up is 505.88.

12-05-20: Closed at 410.01. Trade pressures are down. Volumes are bearish. At lower wedge support. The next target down is a retest of the prior low at 366.28.

12-11-20: Closed at 397.01. Trade pressures are down but rising. Volumes are bearish. The next target down is 357.46.

12-19-20: Closed at 406.01. Trade pressures are up. Volumes are bullish. Need a break above the 25×5 MA to restart the move up.

12-26-20: Closed at 375.17. Trade pressures are down. Volumes are bearish. The next target down is 357.04.

01-01-21: Closed at 337.32. Trade pressures are down. Volumes are bearish. The next target down is the 200 day MA at 308.06.

01-08-21: Closed at 349.61. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is the 200 day MA at 313 which should act as support.

01-16-21: Closed at 384.53. Trade pressures are up. Volumes are bearish. Support is at 339, the lower median line.

01-22-21: Closed at 383.40. Trade pressures are down. Volumes are bullish. The next target up is 462.81.

01-29-21: Closed at 372.07. Trade pressures are down. Volumes are bearish. The next target down is 357.04.

02-05-21: Closed at 419.60. Trade pressures are up. Volumes are bullish. A Friday breakout sees new upside targets.

02-12-21: Closed at 433.11. Trade pressures are up but reversing. Volumes are bullish. the next target up is 462.

02-19-21: Closed at 417.26. Trade pressures are down. Volumes are bearish. The 451 upside target acted as resistance.

02-26-21: Closed at 377.00. Trade pressures are down. Volumes are bullish. The next target down is 322.90.

03-05-21: Closed at 337.43. Trade pressures are down. Volumes are bullish. The next target down is 292.49.

03-13-21: Closed at 346.39. Trade pressures are up. Volumes are bearish. The next target up is 369.33.

03-20-21: Closed at 326.26. Trade pressures are down. Volumes are bearish. At support need a close above 33.64 to get going.

February 20, 2021

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper rallied sharply as inflation talk heats up. Gold and silver seem less responsive.

Crude oil rallied toward the 69.00 target, bur has begun a retracement. Natural gas broke above the 200 day MA at 2.91.

The US Treasuries continue the move down.

The US Dollar futures are holding and consolidating at the $89.00 levels.

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S&P 500 Futures_

Monthly – Rallied hard to the 3918 upside target and beyond. Trade pressures are up. Volumes closed up for the month of January. The next target up is 4366. A close below 3491 would confirm any weekly move lower.

Weekly – Still in the move up from the 3550 weekly long entry. Trade pressures are up, but still diverging from the September indicator highs. Volumes are bullish. The next target up is 4093. A close below 3698 would confirm any daily move lower.

Daily – Flat. The 3959 high has brought selling in late in the week. Trade pressures are down. Volumes are bearish. The next target up is 4069. A close below 3864 would signal a retracement of the October rally.

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The portfolio stocks were down this week and are now valued at approximately $145,000, up 45% for the 2021 YTD. The portfolio had a brief touch of the $150,000 value mid-week, but sold off near the end.

[The author may have long or short positions in any of the securities mentioned.]

February 13, 2021

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper continues the rise with the equity markets. Gold and silver are pressures by the rise in rates.

Crude oil stages a rally into the high 50’s. Natural gas is consolidating even as the freeze moves across the US.

The US Treasury markets are grinding lower as the rates slowly rise,

The US Dollar futures are retracing the move down but lower seems likely.

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S&P 500 Futures_

Monthly – Again new Highs. The 3918 upside target has been reached. Trade pressures are up Volumes closed the month of January as Bullish. The next target up is 4366. A close below 3568 would confirm any weekly move lower.

Weekly – Still in the April 2020 move up from 2411. Trade pressures are up but still showing divergences. Volumes are bullish. The next target up is 4093. A close below 3649 would confirm any daily move lower.

Daily – Flat. In the September move up from the 3545. A rising orderly channel. Trade pressures are up and trending. Volumes are bullish. The Late January correction has been completely overtaken with volume buyers. The next target up is 4069. A close below 3887 would signal lower.

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The portfolio stocks were up sharply for the second week with the continued rally in Novavax (NVAX), which has now more than doubled, and are now valued at approximately $149,000, up 49% for the 2021 YTD. Again, an individual may be forgiven for taking profits here and waiting for the next correction, but SOM will hold.

[The author may have long or short positions in any of the securities mentioned.]

February 5, 2021

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper rises with the equity markets. Gold an silver are in the move down.

Crude continues to rise after the break above 53. Natural gas stalled at the 200 day.

Treasuries continue the long, orderly move down.

The US Dollar futures are movi ng up off the 89.33 base.

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S&P 500 Futures_

Monthly – The new highs are continuing. Trade pressures are up. Volumes closed the month of January as bullish. The next target up is 3918. A close below 3420 would confirm any weekly move lower.

Weekly – Still in the move up from the 3550 long etry. Trade pressures are up, but showing divergence. Volumes are bullish. The next target up is 3925. A close below 3809 would confirm any daily move lower.

Daily – In the move up after the 3830 breakout. Trade pressures are up Volumes are bullish. The next target up is 3901.

Short term support is at 3838. A close below 3798 would signal lower.

_____________________

The portfolio stocks were up sharply for the second week with the continued rally in Novavax (NVAX), which has now more than doubled, and are now valued at approximately $143,000, up 43% for the 2021 YTD. Again, an individual may be forgiven for taking profits here and waiting for the next correction, but SOM will hold.

[The author may have long or short positions in any of the securities mentioned.]

January 30, 2021

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is moving sideways. Gold continues to base. Silver is very close to a breakout to the upside.

Crude Oil is consolidating after the November move up. Natural gas may have a move up after the daily pressures reverse to up.

The US 30 year Treasuries are in a long slow move down, but look for a retracement.

The US Dollar futures are in a retracement move up.

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S&P 500 Futures_

Monthly – closed below the prior month’s high. Trade pressures are up. Volumes closed the month of January as bullish. The next target up is 3918. A close below 3391 would confirm any Weekly move lower.

Weekly – Closed below the three prior weekly lows. Trade pressures are up, but showing divergence. Volumes are still bullish. The next target up is 3871. A close below 3558 would confirm any Daily move lower.

Daily – Short. Closed below the 3767 level on Wednesday. Trade pressures are down. Volumes are bearish. The next target down is 3628. A close above 3799 would signal higher.

[2-1-21: Buy Stops @ 3767]

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The portfolio stocks were up sharply for the week with the rally in Novavax (NVAX) and are now valued at approximately $124,000, up 24% for the 2021 YTD (in the first 30 days.) Again, an individual may be forgiven for taking profits here and waiting for the next correction, but SOM will hold.

Logitech (LOGI) will be replaced by Crowdstrike (CRWD) on Monday at the open.

[The author may have long or short positions in any of the securities mentioned.]

January 29, 2021

Navellier Top 5 Stocks for February

The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.
(For this 2021 year, SOM will track only the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

Navellier says,

High-Growth Investments

Crowdstrike Holdings, Inc.

Crowdstrike Holdings, Inc. (CRWD) was a new addition to the High-Growth Investments Buy List in the January 2021 Monthly Issue. The company is in the lucrative cloud security business, offering real-time endpoint security, threat intelligence and cloud workload protection, helping prevent cyberattacks on and off an enterprise’s network.

Crowdstrike’s business has been booming amidst the global pandemic, with the company adding 1,186 new subscription customers during the third quarter in its fiscal year 2021. The company now has a total subscription count of more than 8,400.

Crowdstrike won’t release results for its fourth quarter in fiscal year 2021 until mid-March. But it’s lining up to be another blowout quarter for the company. The current consensus estimate calls for earnings of $0.09 per share on $249.99 million in revenue, which is up from a $0.02 earnings per share loss and revenue of $152.11 million in the same quarter a year ago.

Analysts have also increased earnings estimates by a whopping 800% in the past two months, so I wouldn’t be surprised if Crowdstrike exceeds earnings estimates for the third time in the past four quarters. CRWD is a Moderately Aggressive buy below $247.

SOM Technicals:

01-29-21: Closed at 215.80. Trade pressures are rising into the neutral zone. Volumes are bullish. In the down move with the overall market. The next target down is 180.62.

02-05-21: Closed at 223.53. Trade pressures are up. Volumes are bullish. Still in the downtrend, support at 223.

02-12-21: Closed at 242.10. Trade pressures are up. Volumes are bullish. Now at the 100% target for the November move up.

02-19-21: Closed at 239.20. Trade pressures are now down into the neutral zone. Volumes remain bullish. The next target down is 215,00.

DocuSign, Inc.

DocuSign, Inc. (DOCU) shares have been climbing steadily higher for the past year, rising more than 75% since we added the stock to the High-Growth Investments Buy List back in June 2020. The overall strength in technology stocks of late has certainly aided the stock’s move higher, but its DocuSign’s booming business and superior fundamentals that will continue to support share prices.

Remember, DocuSign is benefiting from the work-from-home trend. The company offers a cloud-based platform that enables businesses and individuals to develop, upload, sign and send agreements and documents virtually. And millions of users around the globe, including 745,000 paying customers, have utilized DocuSign’s platform throughout the pandemic.

As a result, the analyst community is expecting DocuSign’s fourth-quarter earnings to nearly double. The current consensus estimate calls for fourth-quarter earnings of $0.22 per share, up from $0.12 per share in the same quarter a year ago. Earnings estimates have also been upped by 46.7% in the past two months, so a fifth-straight quarterly earnings surprise is likely.

Fourth-quarter revenue is forecast to increase 48.3% year-over-year to $407.65 million, compared to $274.89 million in the fourth quarter of 2019. DocuSign will release final fourth-quarter results in early to mid-March. DOCU is a Moderately Aggressive buy below $260.

SOM Technicals:

6-26-20: Closed at 177.58. Trade pressures are up. Volumes are bullish. This spike up is not likely to continue in the face of the sell off.

7-4-20: Closed at 190.99. Trade pressures are up. Volumes are bullish. This parabolic move is very uncomfortable.

7-10-20: Closed at 210.11. Trade pressures are up but reversing. A close below 210 would signal lower.

7-18-20: Closed at 196.42. Trade pressures are down but rising. Volumes are neutral. The next target up is 217.

7-24-20: Closed at 190.95. Trade pressures are down. Volumes are bearish. The next target down is 172.23.

7-30-20: Closed at 217.45. Trade pressures are up. Volumes are bullish. The next target up is 257.20.

8-7-20: Closed at 205.00. Trade pressures are down. Volumes are bearish. Dropped thru two downside targets this week. The next target down is 185.06.

8-15-20: Closed at 199.71. Trade pressures are neutral. Volumes are neutral also. Traded down near the 185.06 target and now has moved higher. At the 25×5 MA and looks lower. The next target don is the 185.91 Target.

8-21-20: Closed at 210.18. Trade pressures are up but showing reversal. Volumes are bullish. The next target up is 221.00.

8-29-20: Closed at 215.24. Trade pressures are up. Volumes are bearish. resistance here at the 217.23 level, which is also the new long entry.

9-5-20: Closed at 216.26: Trade pressures are down. Volumes are bearish. Sitting on the 25×5 MA support at 216.

9-12-20: Closed at 197.94. Trade pressures are down. Volumes are bearish. A close below 196.53 triggers a new short entry.

9-19-20: Closed at 194.42. Trade pressures are down. Volumes are neutral. The next target down is 173.35.

9-26-20: Closed at 212.36. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 173.35.

10-11-20: Closed at 225.80. Trade pressures are down into the neutral zone. Volumes are bullish. A close above 240 would signal higher.

10-17-20: Closed at 234.60. Trade pressure are up. Volume are bullish. The next target up is 300.00.

10-24-20: Closed at 219.82. Trade pressures are down but reversing. Volumes are bearish. The next target down is 195.29.

10-30-20: Closed at 202.25. Trade pressures are down. Volumes are bearish. the next target down is 195.29.

11-07-20: Closed at 231.69. Trade pressures are up but reversing. Volumes are bearish. Resistance at 246 held. the next target down is the 195 prior target.

11-14-20: Closed at 205.70. Trade pressures are now up but reversing again. Volumes are bearish. The 195 level was touched then rallied to the close.

11-20-20: Closed at 221.59. Trade pressures are up. Volumes are bullish. The next target up is 241.70.

11-29-20: Closed at 226.87. Trade pressures are up. Volumes are bullish. The next target up is 241.70.

12-05-20: Closed at 243.22. Trade pressures are up. Volumes are neutral. The next target up is 298.04.

12-11-20: Closed at 225.49. Trade pressures are down into the neutral zone. Volumes are neutral. the next target down is 203.56.

12-19-20: Closed at 241.00. Trade pressures are up but reversing. Volumes are bullish. Support is at 225.00.

12-26-20: Closed at 244.93. Trade pressures are up but reversing. Volumes are neutral. Support is at 230.00.

01-01-21: Closed at 222.30. Trade pressures are down. Volumes are bearish. The next target down is 203.50. Support is at 222.00.

01-08-21: Closed at 244.54. Trade pressures are up. Volumes are bullish. The next target up is 249.63.

01-16-21: Closed at 249.28. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is the 236.78 short entry.

01-22-21: Closed at 255.15. Trade pressures are neutral. Volumes are neutral. The next target down is 236.78. A break above 258 would signal higher.

01-29-21: Closed at 232.89. Trade pressures are down but rising. Volumes are bearish. the next target down is 210.50.

02-05-21: Closed at 250.37. Trade pressures are up. Volumes are bullish. The next target up is 258.

02-12-21: Closed at 263.30. Trade pressures are up. Volumes are bullish. The next target up is 285.

02-19-21: Closed at 265.16. Trade pressures are in the neutral zone. Volumes are bullish. The next target down is 223.00.

Novavax, Inc.

Novavax, Inc. (NVAX), our vaccine developer, revealed that it inked a deal with the Canadian government late last week. Under the terms of the agreement, Novavax will provide up to 76 million doses of its COVID-19 vaccine. Canada is committed to purchasing at least 52 million doses and has the option to purchase another 24 million doses.

The COVID-19 vaccine, NVX-CoV2373, is currently in two Phase 3 clinical trials. Results from the Phase 1/2 clinical trial showed a strong antibody response. Efficacy results from the Phase 3 trials are expected during the current first quarter. Novavax then expects to start delivering the vaccine to Canada as early as the second quarter of this year.

On Thursday afternoon, Novavax announced that its COVID-19 vaccine showed an 89.3% efficacy rate in its Phase 3 clinical trial that’s taking place in the UK. For its South Africa Phase 2b clinical trial, the company revealed that its vaccine candidate was 60% effective in preventing COVID-19 in individuals who are HIV-negative; they accounted for 94% of the study population.

After these results were announced, company management boasted, “NVX-CoV2373 is the first vaccine to demonstrate not only high clinical efficacy against COVID-19 but also significant clinical efficacy against both the rapidly emerging UK and South Africa variants.” NVAX is an Aggressive buy below $349.