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- Argentine Natural Gas Gains +6%
Argentine Natural Gas Gains +6%
Super Micro Collapse Continues
Good evening. Welcome to Trends with No Friends.
FOR THOSE JUST JOINING US, HERE’S AN OVERVIEW
Trends With No Friends sifts through the noise and discovers stocks above $1B market cap with high relative strength and low Stocktwits following.
Why is this combination important?
Stocks that are outperforming tend to continue to outperform. Stocks that have a low Stocktwits following are, by definition, undiscovered by the crowd. Stocks that have both Relative Strength and Low Stocktwits Following can really outperform as more investors discover them.
They are ripe to rip.
Stocks stumbled. Every major index inched lower. The Russell 2000 tumbled -1.37%.
Industrials, healthcare and consumer discretionary fell more than -1.40%. Real estate and basic materials dipped approx. -0.90%. Energy was the only positive sector.
New 52-Week Highs led New Lows — 112 vs. 47.
THE BEST OF THE BEST
Transportadora de Gas del Sur ($TGS) is the Best of the Best. The Argentine natural gas company carried +6.03% and closed at an all-time high.
Here’s the daily chart.
And monster monthly chart.
THE WORST OF THE WORST
Super Micro Computer ($SMCI) is the Worst of the Worst. The semiconductor component manufacturer cratered -11.41% and closed at its lowest price since May 2023.
$SMCI is down 84% since March 13th, 2024.
Here’s the disastrous daily chart.
And weak weekly chart.
RILEY’S RECS
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Author Disclosure: The author of this newsletter holds positions in GEO, AS, RDDT, OS, FLUT & SEZL. 📋
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