This Week on Trends with Friends (November 17, 2024)
Welcome Friends,
Here’s an assortment of posts shared this week on Trends with Friends. Let’s dive in…
WEEKEND RIP WITH BEN & EMIL
Howard Lindzon and the Stocktwits team unveiled the Weekend Rip with Ben & Emil. One can expect Ben Cahn and Emil DeRosa to provide much needed comedic relief while covering the top investment news of the week.
Howard shared,
Ben and Emil have their own popular weekly show and I have known Ben a long time. He cracks me up.
Ben came to see me this summer about some projects he was working on and we talked about the financial content vertical and the need for smart, funny, topical and educational content.
Of course, I’m no Dave Portnoy and no Bari Weiss, two innovators and leaders in the ‘new’ media space, but I/we can fast follow in my/our own unique way to and leverage the incredible audience and attention of the massive Stocktwits community.
Expect to see a lot of links and the best edited clips from the new shows in this newsletter over the coming months.
Click here if you missed the Weekend Rip.
THIS WEEK IN AI
Michael Parekh reviews AI scaling snags, tiny language models (TLM), sovereign AI investments, Google’s Gemini AI iOS app and more in this week’s AI Summary.
YOU HAVE TO WATCH IT
Larry Thompson is watching big cap tech for signs of weakness. Here’s the money quote,
Technology is the backbone of the U.S. stock market.
It represents one-third of the S&P 500 and holds roughly the same combined weight as the bottom seven SPDR sectors.
It’s the Pete Weber of the Stock Market. Hate it or love it, you have to watch it.
Technology was shaping up for a classic base breakout post presidential election.
The narratives we’re perfect.
Bitcoin was breaking out to new all-time highs.
Fed Chair Jerome Powell lowered interest rates.
A breakout seemed inevitable. But it didn’t happen. The rocket failed to lift off.
As is often the case, failed moves lead to fast reversals.
Technology has been down five of the last six trading days, clinging to the hope of finding support at its 50-day moving average.
Nvidia reports earnings on Wednesday. While I won’t speculate on the results, this stock is the poster child of the AI boom, up over 180% year-to-date.
If Nvidia delivers another shocking upside beat, it could be the catalyst that propels Technology and the broader market back to all-time highs.
The chart is shaping up nicely, sitting above it’s breakout level heading into earnings.
As Nvidia goes, so will Technology.
KEEP IT SIMPLE
Phil Pearlman has a simple plan for 2025.
He writes,
Mid-November, I like to think about my priorities for the next year and distill them down into a few simple themes.
Doing this helps me focus on the important things so I can make them happen.
Sometimes, this takes a lot of thought and strategizing, time well spent, but this year it came in about one minute early this morning. I said it out loud and it was done.
I put it on a flash card and taped it to my desk above the keyboard…
Ok, what are you zooming in on for 2025? Love to hear from you by emailing me directly at ppearlman@gmail.com.
THIS WEEK IN CHARTS
Charlie Bilello’s weekly chart review includes dozens of great insights. Here are the notable charts and themes within markets,
The S&P 500 has hit 12 100-point milestones in 2024, crossing above 6,000 last week for the first time.
US Large Caps. The Dow crossed above 44,000 for the first time, its 7th 1,000-point milestone of the year.
Bank stocks surged higher after the election, widening their outperformance over the past year.
Crypto. Bitcoin is up 28% since the election, surpassing its prior record from back in March and hitting 17 more $1,000-point milestones.
While Bitcoin has gone parabolic, Gold has sold off. At $41 billion, the AUM of the largest Bitcoin ETF ($IBIT) has surged past the AUM of the Gold ETF from the same fund company ($IAU, $32 billion).
PODCAST LINKS
Tadas Viskanta curates Resilient Portfolios in this week’s podcast links. Here’s a sneak peek…
TRENDS WITH NO FRIENDS
Trends With No Friends sifts through the noise and discovers stocks above $1B market cap with high relative strength and low social following.
The publication shares 52-Week Highs and Lows sorted by followers on Stocktwits.
Why is high relative strength and low social following important?
Stocks that are outperforming tend to continue to outperform. Stocks that have a low social following are, by definition, undiscovered by the crowd. Stocks that have both Relative Strength and Low Social Following can really outperform as more investors discover them.
This week, Trends with No Friends featured…
Transportadora de Gas del Sur ($TGS), Flutter ($FLUT), Elbit Systems ($ESLT), OneStream ($OS), AAON ($AAON) and more.
THIS WEEK’S EPISODE
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And in case you missed it… Howard Lindzon, Michael Parekh, JC Parets and Phil Pearlman are joined by Mike Dudas and Axon’s Josh Isner to discuss crypto’s relative strength, Axon’s journey from Taser to $40B, semis, geopolitical tensions and more on the latest episode of Trends with Friends.
GET IN TOUCH
If you share insight on the market and would like to contribute to Trends with Friends, send us an email.
Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision.
Stocktwits, Inc. (“Stocktwits”) operates the stocktwits.com website and Stocktwits mobile device applications (the “Apps”). Stocktwits is not a securities broker-dealer, investment adviser, or any other type of financial professional. No content on the Stocktwits platform should be considered an offer, solicitation of an offer, or advice to buy or sell securities or any other type of investment or financial product. Read the full terms & conditions here. 🔍
