Hey everyone, welcome back to another Sunday Scan. Busy week ahead with the CES 2025 coming up and so many thematic sectors in play. Also, remember that the market will be closed on January 9th as a national day of mourning for Jimmy Carter’s passing.
Stan is joining us today and has a ton of good market thoughts and stocks on watch.
Great market action rolled into the new year. Quantum continues to just chop around within a range. Decent opportunities intraday given the range; however, if you stick around too long, you either end up underperforming or flat. We’ve seen several 1-2 day wonders and then steady pressure, HOLO MLGO, etc. If it’s not part of the current theme/flow, then it tends to lose steam quickly.
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Video Scan and Game Plan
Themes in Play & Main Watches
Quantum Basket (RGTI QUBT QBTS etc) – Forward-looking catalyst on Jan 9th, albeit the market will be closed that day. In general, we’ve just been chopping around here within a higher timeframe range. With CES next week, we have the quantum and robotics themes in the spotlight. The upcoming catalysts are creating an environment where we may see a shift in the existing supply and demand equation. Not necessarily from a bearish point of view, but more so if there were to be a definitive break out of this steady grind/chop we’ve seen – or – some sort of exchange/stuff, and see the tape shift from the relentless bidding → next week would be a suitable environment for something like that to happen.
Robotics Basket SERV, IRBT, MYO, AUR, OUST, MBOT, RR, KITT, ARBE, KRKNF, SPPL, LFWD, ARAY, GFAI It’s a great idea to build a basket of the key names in a thematic sector so you get more context on the moves vs trading each one in a vacuum. The larger names with options will be the leaders as hedge funds move in and out of them which sparks the smaller ones. Very similar to the quantum theme earlier on in its cycle. All types of set ups form so just pick what you like. Small cap swings, intraday dip buys off of key levels (low of day, VWAP, soaking levels etc.), over extended short scalps, capitulations shorts for reversals and other set ups too.
CVNA Decent pull from 220s area. Will watch for a reversal off key levels looking left soon.
LAES Higher the better, looking for daily chart breakdown.
NITO Nice mover last few sessions. Up +700% which seems to be the norm these days.
Battery Theme ENVX, QS, FCEL, PLUG, SLDP, FREY, MVST, SES Again, build a basket to have on watch. These names are running after the Biden administration relaxed some of the regulatory restrictions on battery development.
EVTOL Theme JOBY, ACHR Another sector in play to build a basket around.
TSLA Checks many of the trending theme boxes and already had a big correction so likely will look for the next leg up if the market stays bid.
AI / Chip Names After MSFT announced an $80B investment in data center infrastructure last week, NVDA, MRVL, TSM, ARM, SMCI are all on watch for continuation to the upside.
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