Momentum Monday – Do You Buy The Dip?

A quick shout out to Momentum Monday sponsor Marketsmith (by Investor’s Business Daily). All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.

It has not been a good few weeks in my world of momentum stocks.

This is a chart of Investor Business Daily’s (Marketsmith), innovator list (high growth, high volatility) thanks to @the_chart_life:

All major market indexes (SPY, QQQ, IWM) are below their 50-day moving average, which is a big yellow flag for long-only momentum investors.

Today, Ivanhoff and I tour the markets discussing various gameplans and scenarios. Here is this week’s episode.

Yesterday I did nibble on a few stocks …you can follow along on my Stocktwits stream if you like.

I hope you enjoy.