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A Brand-New Uptrend

By Steve Strazza

November 13, 2024
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Thanks to everyone who joined us for today's Hot Corner Insider Weekly Strategy Session.

Here are the top three takeaways from the call:

  • The riskiest stocks are embarking on a new leg higher:

241113_iwc

Think small-caps, Ark funds, banks, and biotech. They’re all making new highs.

  • On Tuesday, the S&P 500 tested the election gap VWAP for the first time:
241113_spy

And then it did it again today. Buyers showed up to defend this level both times. As long as it holds, the bulls can keep running this short-term rally higher.

  • With crypto in "rally mode," BTC miners offer leveraged vehicles that can help add extra exposure:
241113_hut

In July, Coatue Management filed a 13G revealing a 9.2% stake in Hut 8 Corp $HUT. The stock is now completing a rounding-bottom formation. If it sticks the landing, this is a brand-new uptrend.

Article Sales Message

Know the trading behavior of …

  • Senators
  • House Of Representatives
  • C-Suite Executives
  • Hedge Fund Managers
  • Other Big-Power Players

Our experienced team of analysts work through the Form 4, 13D and 13G filings to provide you a list of the best trade ideas.

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Steve Strazza

Chief Market Strategist, All Star Charts

Steve Strazza brings a unique perspective to the world of Technical Analysis due to his diverse background. Steve found an affinity for financial markets during his first job out of college as a big-4 CPA auditing some of Wall Street’s largest broker-dealers, such as Interactive Brokers and Morgan Stanley. Steve then worked in the Asset Management industry in a variety of roles including Controller for a private equity start-up, Fund Accountant at two large hedge funds, and most notably as a personal Accountant for Steve Cohen at SAC Capital and Point72.

sstrazza

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