The QQQ’s closed out April at the highs of the last two month’s trading range but off of the all-time high put in a about a week ago. Friday’s positive price action, halting a 3-4 day correction could bode well for the market going forward. The SPY, and DIA, had similar patterns with the DIA being the weakest of the major three. IWM had a much more severe breakdown this week, closing decidedly under the 50 DMA.
The NASDAQ 100 All Stars model was basically flat on the week, up +0.01%. Until Friday, the model was significantly down on the week. The QQQ’s closed down -1.35%.
With the new month, we have one position change. On Friday, the model sold DLTRand rotated into NFLX. We had a live coaching on Thursday to cover the position change, answer questions, and review other important information about the model. That recording is in the Monthly Webinars section of the member area.
MNST and EA report earnings next week.
For daily performance updates of the model positions and top 25 ranking stocks see the Model Portfolio section of the member area. If there are any changes to positions from stops or targets being reached, we’ll email you.
Below you’ll find your summary of weekly and longer-term performance with news highlights and price action analysis for each of the positions.
You’ll notice the weekly position summary tables include unique gauges. These gauges will give you a quick read on the strength of the stocks trend and how the trade is progressing. For more information on how to interpret and use these new gauges you can review two quick tutorials in the FAQ section of your member area here. You’ll also find the tutorials for the gauges in the “How to Use the Model” section of the member area
The Current Condition of the Model
The model, after giving up some ground this week, clawed it all back on Friday to close the week flat. NXPI and AVGO, two semiconductors, were up nicely on the week. The other three positions, EA, MNST, and NFLX closed flat or down slightly on the week. NFLX, our new position, is the only one currently with a “buy” rating.
For more information about the current and closed positions go to the Model Portfolio section of your NASDAQ 100 All Stars member area.
Best wishes for your trading,
James Kimball, Trader & Analyst
