The TML Talk | December 11, 2024

Summary of Key Points from the Webinar

Market Overview:

• The NASDAQ reached new all-time highs, with notable contributions from Tesla (TSLA) and Google (GOOG), which also achieved record highs.
• Rotation among sectors such as energy, retail, and technology was highlighted, indicating a broad-based rally.
• The importance of qualitative insights and focusing on leadership stocks in the market’s uptrend was emphasized.

Key Learnings and Strategies:

• Timeframe Importance: Utilize multiple timeframes (daily, weekly, monthly) to identify long-term pivot points and avoid misjudging stocks as overextended.
• Adding on Strength: Buy into strength near significant breakout points while being cautious of potential pullbacks.
• Sector Leadership: Focus on top-performing sectors and industry groups, as nearly half of a stock’s movement is influenced by its sector and industry.

Observations on Market Leaders:

• Tesla (TSLA): Highlighted its breakout through the $445.50 all-time high pivot, suggesting the potential for further upside.
• Google (GOOG): Benefiting from its quantum computing story, making it a preferred play in the theme.
• Broadcom (AVGO): Setting up constructively across timeframes with strong volume, though earnings were flagged as a key near-term event.
• NVIDIA (NVDA): Consolidating, with potential support at the 65-day EMA.

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Stock Mentions and Commentary

Stocks with Positive Sentiment:

• Tesla (TSLA): Strong breakout from a major pivot point.
• Broadcom (AVGO): Constructive technicals across all timeframes; a potential earnings catalyst.
• Zillow (Z): Tight flag pattern with potential breakout near $84.

Stocks with Mixed or Neutral Sentiment:

• NVIDIA (NVDA): Holding support but still requiring further consolidation.
• MongoDB (MDB): Lacking tight technical action and trailing its peers.

Emerging Opportunities:

• Retail Stocks: Strong action across leaders such as Costco, BJ’s, and WWW.
• Nuclear Power Plays (e.g., NN, OKLO): Speculative, with tight patterns near key moving averages.

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Actionable Takeaways:

1. Manage Risk with Defined Stops: Always define stops before entering trades, especially when buying on weakness.
2. Focus on Leadership: Leaders like Tesla, Palantir (PLTR), and Reddit (RBLX) provide opportunities to buy high and sell higher.
3. Use Longer Timeframes: Incorporate weekly and monthly charts to align with key pivot points and avoid missing significant setups.
4. Stay Disciplined: Rotate into themes showing clear strength, such as AI, quantum computing, and semiconductors.