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Momentum Monday – More Reasons To Be Bullish Than Bearish

Published 06/17/2019, 12:36 AM
Updated 07/09/2023, 06:31 AM

After an explosive rally in early June, all major U.S. stock market indexes are in consolidation mode. Most software momentum stocks are also either pulling back on light volume or going sideways. This is normal and typically bullish market development.

The IPO market continues to be on fire. Last week, we saw hot action in Fiverr International Ltd (NYSE:FVRR), Crowdstrike Holdings Inc (NASDAQ:CRWD), even Chuy's Holdings Inc (NASDAQ:CHUY).

Many biotech stocks are also breaking out or setting up for a potential breakout – Veracyte Inc (NASDAQ:VCYT), Voyager Therapeutics Inc (NASDAQ:VYGR), Array BioPharma Inc (NASDAQ:ARRY).

Walt Disney Company (NYSE:DIS) is on the radar of many traders and investors. It has managed to hold its big gap from April and it is now back near its all-time highs.

In the last third of the show, we discussed some of the differences between swing trading and long-term holding and how to pick potential big winners that can be held for years.

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