MarketWatchers LIVE

4/28 - Friday MarketWatchers LIVE Recap with Guest, Greg Schnell

Erin Swenlin

Erin Swenlin

Co-Founder, DecisionPoint.com

 

Welcome to the recap of Friday's MarketWatchers LIVE show. Listen and watch a show devoted to technical analysis of the stock market with live market updates and chart analysis. It's StockCharts.com's antidote for the CNBC/FBN lunchtime chatter.

Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but we will try to incorporate a few charts that you found the most interesting during the show (or that we found most interesting!). Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, Email is marketwatchers@stockcharts.com and our Facebook page is up and running so "like" it at MarketWatchers LIVE.


What Happened Today?

Introduction:

Today, Greg Schnell joined Erin to co-host while Tom was away. It was great to get his take on the markets today and he did an "anatomy of a trade" segment that went through some of the techniques he uses to mine for investment opportunities. This segment will likely continue given the positive feedback, so if you missed today's, don't worry--more to come!

Talking Technically: Erin and Greg talked specifically about the huge moves being made on Amazon and Google this morning and the fact that it was having little effect on the NDX which was up, but trending lower not higher. Apple will be reporting earnings next week. Greg and Erin agree that the problems that Samsung is having with its new crop of phones is likely helping Apple and could help it run on good earnings. We decided that Erin did note that during Wednesday's "Agree or Disagree" segment, she had said she'd buy AMZN. 

Greg went over the $DAX chart today as well. It's looking healthy in his estimation.

Anatomy of a Trade: 

Erin and Tom went over their "Anatomy of a Trade", a walk-through of how they find investment opportunities on Wednesday, so Erin asked Greg to show his anatomy of a trade. Greg sought information from market or sector summaries and dug in from there. He looked at the Energy sector Bullish Percent Index. 

 

Ten in Ten Before One: In this regular segment, Tom reviews ten charts in ten minutes with Erin's comments and comments from the Twitter "peanut gallery" peppered in there. Send in your symbol requests via Twitter (@mktwatcherslive) before the show and we'll try and add them. If we missed them this show, we have many of them in the queue for Monday. With Tom MIA, Erin took 5 symbol requests and annotated them and Greg took 5. Palo Alto Networks (PANW) was given to Erin. Chart looks pretty terrible. Afterward,

Greg asked Erin to look at Cyber-Ark Software (CYBR) that is in the same space as PANW. Interestingly, that chart is far more favorable.

Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email.

Greg was asked about his technical views on growth stocks. This question spawned a discussion about the age of marijuana stocks. As Greg says, you really need to watch out for the 'fad' type investments. Yes, everyone owning weed stocks right now are feeling pretty good. But a look at two of those stocks below and you see that some have lost over 30% in the last month and after gains in excess of 300% in some instances for those who got in early, that seems to be over. The opportunity seems to be fading in this space.

It's a Wrap! In closing Erin asked Greg what his opinion was on next week's action. Both Erin and Greg are neutral for next week, meaning it will close mostly unchanged by the end of the week. What do you think? Our viewer poll will be open on Twitter until Saturday (4/29) at noon EST.

Looking Forward:

Tune in on Monday at 12:00p - 1:30p EST on 5/01 for Monday Set-Ups. Tom will be back! They'll discuss which charts are looking hot or not for the upcoming week! Erin will also review sentiment polls from AAII, Wall Street Sentiment Survey and NAAIM as well as your sentiment based on our current Twitter poll.

The regular segments, Ten in Ten to One and Mailbag are also on tap for Monday, where we look at your recent questions and symbol requests.

Don't miss it!!

 

 

Erin Swenlin
About the author: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More