#IBDPartner

Every week we look through our MarketSmith scans to look for new ideas — we go through Near Pivot scans daily and once a week we go through our IBD 50 list.  We’re going to try to make this a weekly blog tradition.

The following are all patterns we’re interested in potentially trading.    NFLX holding this base nicely — we were swing long this last week but it hit our trailing stop.   We have no problem getting into a stock a second time after being stopped. No room for ego in this job.

NOW is inside MarketSmith’s own proprietary buy area which caught our attention:

Bounced on 20sma weekly and basing near highs. Gorgeous trend.

MTCH popular stock with momentum traders and we’ve added it to our watch-list.    Held nicely on that 20sma but now needs to follow through up or could easily break down towards 50.

PANW in the hot software security sector and in the buy zone near the 50sma on daily.

Gorgeous trend on the stock and 20sma weekly comes in at 216 in case of pullback reversal trade.   Just a note on how we trade pullbacks on longer term uptrends — we wait for buyers to show up and then pay up maybe a point or 1% on top of that.   Support means nothing if buyers don’t show up — happy to  catch the meat of trade  and not take the risk that comes from trying to pick exact bottom.

NVDA probably the stock we feel one has to be most aggressive with in buying pullbacks.   Loved stock — and acts great.   Tested the 50sma last week near 265 and then rocketed higher — needs to base now to set up again.

MA another one of our favorite stocks — would love a pullback to get it near 210 on 20sma weekly.  Add to radar in case of market weakness.

These are our favorite trading vehicles right now from the IBD 50 — hopefully we can keep this up every week and develop and improve this type of post with our readers.  See you on the streams.   HCPG