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The Market Right Now - Energy Alt/Other
One of our ‘Melt Up’ Plays has been on a bit of a wild ride. Let’s check in and see what is going on here.
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Thoughts and observations:
If we are in the ‘Melt Up’ (and again not a local trading melt-up the broader and bigger ‘Melt Up’) . . . . . and power/energy/electricity is a central theme . . . . do I really want to be completely tossing a stock with triple digit revenue growth . . . . . and the company needing to secure more power to meet demand . . . . probably not . . . .
The Industry Group has been a drag lately . . . . not plummeting but kinda gliding down . . . . however it’s up about 9% already YTD . . . . was really sizzling fairly recently . . . . not so sure we should completely toss it aside . . . .
CEO switched up . . . . Founder retired and sold 1M shares (congratulations and good for him) . . . . looks to me the new CEO is the real salesmen and the Founder brought them to this point . . .
Money Flow on the Daily is Green and starting to try and nudge the Weekly to change direction and trend more bullish . . . . bottom line if the stock can reclaim the 10 Week EMA and flip it to support . . . . . then . . . 75% of stocks follow the overall market trend . . . .
My posture . . . . have added here and there last several weeks . . . . stocks can ebb and flow . . . . focus here is long term Play for the ‘Melt Up’ . . . . really not motivated to ignore very rapid revenue growth . . . . company has also emphasized pushing themselves (scrambling to secure power and manufacturing capability) to meet demand . . . . prices fluctuate . . . . . can’t just magically create super strong demand for your products and services . . . . sticking around and will constantly assess . . . .
