Barchart.com's Chart of the Day - Power Solutions International (PSIX) for Nov 12, 20

[Thierry Martin]

The Chart of the Day is Ubiquiti Networks (UBNT). I found the stock by using Barchart to sort today's New High List for Weighted Alpha and this stock was 280.70+. You can see from the chart that there have been a series of Trend Spotter buy signals including the one on 9/26. Since then the stock is up another 18.98%.

They are engaged in the business of designing, manufacturing and selling broadband wireless solutions worldwide. Their products and solutions include radios, antennas and management tools and other applications in the unlicensed radio frequency spectrum.

[Thierry Martin]

Random Thoughts


You have to be careful not to chase your own tail when a market is hovering around new highs.

Thursday was ugly but Friday was a do over for the Ps and Rusty.

The Quack snapped back nicely too but didn't quite erase all of Thursday's losses. Still, over a 1 ?% gain is nothing to sneeze at.

As I said on Friday morning: "...if, and that's a big if, the market rallies an takes out Thursday's high, I think it would be off to the races. It would suggest that Thursday's action was just a shakeout/fakeout. In fact, I'm seeing buy setups in the Q shares. They have a Double Top Knockout look to them (email me if you need the pattern).

Errata-On Friday I wrote "inverse Q shares." I meant to write "leveraged." I know, big difference.

Considering the above, now that the shakeout/fakeout is behind us, I think this we could be seeing new highs on the horizon. You know the routine though, take things one-day-at-a-time.