Stocks roared back Friday afternoon following the president's relatively benign proclamation on the Hong Kong situation. Even during the morning session, strength was seen up and down the growth-stock corridor.
The Nasdaq gained 1.29% Friday vs. the average Watch List name being up 3.1%. This effectively put to rest concerns about the growth glamours looking tired which I had discussed in Thursday's evening's video.
Any market weakness as a result of ongoing violence in many American cities would be seen as a buying opportunity. This assumes issues of interest cross their entry pivots as noted in the Focus List and in the below discussion.
The following charts may be expanded by clicking on them.
Advanced Micro Devices (AMD)
Beyond Meat (BYND)
Goosehead Insurance (GSHD)
Match Group (MTCH)
Solaredge Technologies (SEDG)
TAL Education (TAL)
Zoom Video Communications (ZM)
In sum, thanks to Friday's dynamic action, leading growth titles regained their vigor which had dulled earlier in the week. The action suggests further upward revaluation.
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All stock charts created using MarketSmith unless otherwise noted. ©2020 MarketSmith, Incorporated. All other charts created using TradeStation. ©2001-2020 TradeStation Technologies. All rights reserved.
The views contained herein represent those of Marder Investment Advisors Corp. At the time of this writing, of the stocks mentioned in this report, Marder Investment Advisors Corp., Kevin Marder, or an affiliate thereof held no positions, though positions are subject to change at any time and without notice. Estimate data provided by FactSet. Expected earnings release dates provided by EarningsWhispers.