IBD Live Q&A And Two Key Stock Lists For Aug. 5, 2024

QuestionAnswerGood morning everyone, it looks freaking ugly out tere today.IndeedI like the music today.Somber like the marketWHAT TO DO WHEN MARKET IS UNCERTAINWIsh there were easy answersGood morningGM, thanks for watchingGood Morning IBD’rs – so appreciate you guys!LikewiseHello everyoneHello, thanks for comingHello everyone ! GMHello, good to have youGreat call on the short SMH Scott!🙂 DUCKS ARE QUACKINGMike, Congratulations for reducing Seing Trader exposure to only 5%. Very nice!Even a broken clock is right twice a day…thank you Ralph!Good afternoon from LondonGood to have you from abroadExcellent job Scott! I really enjoyed your Saturday webinar!🙂 thanks!Good morning all! Yikes, a 20%-40% exposure rating. Ouch! But not surprising given the knocks we’ve been taking lately! Hey, a big thanks to Scott for his Saturday presentation on MarketSurge. I came away with at least a half-dozen actionable
habit-changes. That’s a HUGE win in my book, so thanks!Thanks! 🙂Goooood Morning IBD Live.Gm, thanks for joiningThanks to ST for being the Quick and not the Dead last week.Even a blind squirrel finds a nut every once in a while;) Thanks DouglasGood to see everyone! I went camping for 2 weeks and missed so much.Time to go to the woods and hide out?Hey Webby – great one Metallica – Nothing Else MattersWas wondering if anyone got that…James had a B-day last weekScott w/the nice call of SMH short.. as if he had the crystal ball to NVDA news, lol🙂I am 9% invested and that is 9% too much!hahahahaGood to see some humour!Always key IMHOGood Morning IBD LiveGM, hi ShaneHow about some discussion on Distribution days within the past few weeks and what that is telling us.Ralph, IMHO it’s not about the distriubtion as much as it is about the expectation breaker from Thrusday…right after an FTD on SPYGood Morning Harold. What is your #1 choice for a trading platform for a serious Option guy?? Fidelity Active Trader Pro, Trade Station or Think or Swim?? Appreciate your opinion. Best.I’m doing the majority of my option trading on tastytradeScott, great webinar Saturday. Could you share some of your screen parameters? I am just getting used to the scanning. Thankssure, I did a webinar on it on IBD. email us and I will send linkHey Scott, Did you hold your FNGU short through the Thursday fake out?small position due to volatility. I am out nowScott your assessement of the Market has been right all along.luck 🙂Good morning everyone!GM, thanks for comingSSC, TY🙂ha ha your Luck is awesome😉Mike, Thanks for navigating us through lthe market last week. So volatile, usually when it is volatile I start getting very defensive.Thank you BrianGood Morning from Vermont.GM, good to have you.Is Swing Trader down?Jimmy, it’s up for me…we only have a 5% position in XHB…haven’t done anything todaySCOTT – Your call on the market 2 weeks ago was prescient. Your 90 second take on the market that ended up being 10 minutes on your Friday TotM show was helpful as you shared your experience going back 30 years and why you feel the way you
do today is helpful and appreciated.🙂 thanksGood morning Scott, your tinglying Spidey sense was on point. Thanks.🙂 got lucky, had some false positives before for sureRemember the saying ……. Don’t buy the dip, buy the bounce back AFTER the dipThat’s how I do itcould you please discuss the action on MCD? ThanksI look at it as a rally back up to the 200 day. I wouldn’t buy it up here unless it bases out for a number of weeks.schwb app has crashed cant get inThanks for letting us knowInteresting. Etrade just crashed…Thanks for sharingGREETNS FROM HURRICANE COUNTRYStay safe!Tried to access my account at Schwab and I cant get in. Lots of people must be crashing their systemOther people reporting this as wellScott, which Japanese tickers do you watch?just the index at this pointThere is one major brokerage right now that seems so overwhelmed with orders that it cannot display all of its data. When refreshed, takes one to a page that apologizes that its site is “temporarily unavailable”, then logs you out. That’s
how intense the action is.CrazyI can’t get in at Fidelity either.wowwhat is the tickerAre you asking about the VIX? In Marketsurge it is 0vix (zero vix)Is anyone having issues logging in to Thinkorswim and Schwab?Some commenters say brokerages are down for them as wellEnjoyed watching video last Friday of weekend study recommendationsGreat!GM from Cape Cod. No buying for me today.Go play gold instead?Thanks Scott for the seminar on Marketsurge and taking the time out of your weekend for doing this.🙂 thanksSCHWAB system is downOther reports this is the case as wellAfter fear beccomes FOMOThat’s very true JamesPrivate: I know you aren’t Schwab. 🙂 Can those with TOS log into their accounts this morning?Several reporting it’s downGood Call St.Clair!🙂 thanksISRG holding up welllive answeredI have a question. Mike normally talks about 7 levels of exposure according to market school rules. Where can we find the information about those levels ? ThanksIf you watch the Market School home study…there is a place in Leaderboard that shows the Nasdaq Market School count daily plus Justin writes up a little bit about it daily…FWIW we’ve been at Zero for several days on NasdaqGreat advise Scott!🙂 thanksSchwab is not open for business. No phone. No online access . Thanks for alternative guidance Scott.🙂 yepAMD does not have an equivalent product to NVDA’s Blackwell chip. The Blackwell chip is the one that is delayed. Blackwell delay postpones sales, but those customers really do not have a good alternative. The customers will wait until it is
ready, or buy the current product. Most customers will wait.AMD has something close to the current Hopper chips, I believe, but doesn’t have anything comparable to Blackwell for now.Nice recovery for NOWlive answeredScott, on your comment about having multiple brokers, can they handle the same account?no, they would need separate monies. But you could be long 1K META at Fido and short 1K META at Schwavb and you are flat, no risk/upside overall. It would be in weird sceanrios like today. I do not do this hardly ever but its nice to know
I can if neededEd needs to start pointing a coin in a jar anytime he forgets to switch tickers on MarketSurge lolThe problem is that I’m checking stocks on another MS chart!IWM isn’t getting any better this morning so far.It’s still off the 200-day. But down a lot.Scott, are you taking off your SMH shorts? Thanksyes, not short anymoreI’ve been learning for 3 years and never knew why Bill had the 4th day for the follow-thru. It’s all human nature. Thank you for the show today.You are welcome Kris…best of luck!MDLZ running btw green and red, abv all avgs, +189% vol, run to safetyWas getting that Kellanova (K) boost. MDLZ down now, but snacks are recession-resistant!Scott. Great session on Saturday. What was the screen you setup. Comp >50 etcHi Mtichell, thanks. I do not recall the screen to be honest. I was probably just experimentingWheres Justin to go over his industry group spreadsheet? Would be pretty interesting today.He’s off today, but he’ll be on IBD Live Tuesday.Brian Belski is CNBC and he worked for Bill O’Neil. He said that August is horrible and this is a normal 10% correction that they were waiting for. I have to agree with him. You need some exposure to Mega Caps so pick the best ones.Yes, he worked at WON back in the day…smart guyIs the yield curve still inverted ?No, it was very brief.Scott comments on NVIDA? trying to get above Friday’s lowwas the leader in the bull market so obviously important to watch. I am not in it fwiwwhere can we find Scotts’ Saturday video?This was not archived, live event onlySCOTT Would you mind going over how you use a second Broker in the event your having trouble accessing the first Broker?EXAMPLE: if I was long 1K META at FIDO, cant get in. Sell short 1K META at Schwab. now my total account values would be flatTenet Health is making a nice reversal. Can we discuss this?We looked at it earlier. Nice bounce, still below the 21-day and buy point.Webby uses 3 month RS . Can we change the one that shows on the chart?I use both…I’ll work on adding it to the chartScott may be the elder but he is the only one not wearing glasses.🙂You should be able to have multiple RS lines on a chart – hopeflly they will add this feature in the future.Hi Jim, we do, you can add a second RS lineMike, That’s a fantastic idea to display something like 95/30 for RS line for NVDA (RS_12month/RS_3month). This will help us study the charts faster…… Scott Sir?We will work on adding itMIKE — Thank you for your thoughts regarding the 3-month RS Rating versus, 6-month and 12-month . . . very important information!Thanks Peter!I love how authentic and unscripted you always are Mr. Clair🙂 thanks, I prefer it“Reasonable Goosehead” That might be a good band name. Or maybe “Reasonable Head Goose”; as in the head goose in a flying flock. Okay, I’ll get my coat now, haha…LOLHang on Mike. If Powell had said Yes to 50bps, then it would have been a clear sign that a hard landing is imminent. Damned if you do, damned if you don’tHe shouldn’t have answered the way he did…if you play it back you can see that he realized that right awaySCOTT — Thank you for the information. PS: The Lakers first round draft pick Dalton Knecht is your “little brother.” He reminds me of you . . .🙂 I used to play like him in the men’s leagues I was in HAHAHAEd, do you think this maaket action today is in response to the Bank of Japan increasing rates?That’s part of it – spurring unwinding of yen carry trend. Recession risks and Nvidia/AI fears.Is that the Scott St Clair Miracle Gro?🙂I’m having trouble looking at my stock lists on ibd… keeps taking me to a special offers/ pagesign out and back in. Call support 800-831-2525Webbie, thoughts on SN…thanks!I’m not a fan of things under their 50Is Ken going to be on this week?Yes!Scott’s live presentation on Saturday was darn goodThanks Karinany opinion on elf ? seems to bee pretty strong bounceNice bounce after a lot of losses. Earnings are coming.Webby – maybe I’ll expand the garage band name to “The Blind Squirrel’s Nuts”. hahahaLOLScott, i was able to use Fidelty mobile appgood, nothing worse than not being able to log inFWIW “Squirrel Nut Zippers” is a real band. Had a hit late 90’s😉Thanks Mike, MMM is definetly extended I should have mentioned it. Have a great day / week.U2Thank you for that, Mike. “Nobody knows” is appropros for this week.!Good show on a bad day. Thanks guysTY

Source link