Recent Top Call by Mike Paulenoff

On May 27, Mike Paulenoff posted the following bullish commentary about iron ore producer Cleveland-Cliffs (CLF):       "CLF is up 6.7% today precipitated by the company's announcement that it intends to pay off a slug of debt of holders of Senior Notes due in March 2025!  There is nothing Wall Street loves more than profits, but a close second is reduction in debt. Technically, CLF's U-Turn off of Monday's low at 17.

On the morning of May 27th, just hours after Nvidia Corp. (NVDA) reported earnings, Mike Paulenoff gave this bullish assessment to MPTrader members: "In the absence of damaging weakness beneath last eve's algo, knee-jerk spike low at 611.02, and subsequent follow-through beneath 600, my technical work remains 'friendly,' and points higher, to test the ATH at 648.57, in route to 675-680 thereafter." The stock, which was trading at 628.

Back on July 16, 2020, Mike Paulenoff alerted MPTrader members to a potential turn in the long-term downtrend in the grains markets, reflected in his trend analysis of DBA (Invesco DB Agriculture Fund), an ETF consisting of agricultural commodities (grains, softs, and livestock).   In that changes in inflationary expectations are at the forefront of investor's considerations for the first time in decades, Mike's focus on a potential sharp climb in grains prices certainly was well-timed and well-received.

After Home Depot (HD) announced earnings on Tuesday that beat the Street on most of the important metrics, goosing the stock to the 327.25 area, Mike Paulenoff cautioned MPTrader members.   He briefly discussed HD's near-term technical set up, which looked promising as long as HD held support above 315.21, but then added:   "From a Bigger Picture perspective, my work presents some less promising prospects for HD's potential upside price path.

This past Friday, 30 minutes before the release of Retail Sales data for April, Mike Paulenoff posted his analysis of XRT, the SPDR S&P Retail Sector ETF. After explaining in detail his analysis, which you can read here, Mike concluded:  "All of the action from the Jan. 28th high at 99.24 through Tuesday's (May 12th) higher pullback low, represents a larger, bullish digestion period and pattern atop the dominant 15 month uptrend.

Back in early February, with CVS trading at 73.19, Mike Paulenoff alerted MPTrader members to a bullish technical setup in the stock, writing:   "CVS exhibits a potentially very powerful multi-month set up, and as a matter of fact, looks like it just ended a correction from 77.23 (1/12) to 71.04 (1/29, and right at its up-sloping 50 DMA)."   He added, "If reasonably accurate, [this] means that CVS is entering a new upleg that should challenge and take out 77.

On Friday April 23, Mike Paulenoff alerted MPTrader members to an upside opportunity in Advanced Micro Devices (AMD) ahead of its earnings release on Tuesday April 27:   Mike wrote:  "Right now, we should lean towards a bullish reaction to the news, and if 85 is hurdled and sustained, then AMD will be positioned for upside continuation."   However, Mike cautioned that the stock needed to get above the 90 resistance area or could stall and reverse lower.

On March 30, with Salesforce.com (CRM) trading at 210.95, Mike Paulenoff wrote MPTrader members:   "The relentless stair-step decline within the Sep.-Mar. down-channel is nearing completion ahead of my expectation of a powerful upleg that revisits and takes out the ATH at 284.87."   Fast-forward to last Thursday afternoon, April 8, when CRM finally received some long-awaited price support from Wall Street.

On March 8th, when XLI was trading at 95.88, this is what Mike Paulenoff discussed with our MPTrader Members about the S&P Industrial SPDR ETF: "In addition to the XLB (Materials SPDR), another vehicle (arguably a better one) to ride the infrastructure spending narrative, is via the XLI Industrial ETF.

Soliton (SOLY) rallied 37% in the weeks after Mike Paulenoff highlighted it for MPTrader members on March 10.  Where's it headed next?   SOLY is a medical device/biotech company developing a promising product, with a 2-year chart setup that caught Mike's attention early in the year, suggesting sooner than later that price would reflect the underlying company fundamentals.   Early on March 10, with the stock at 13.

On Monday morning March 1, Mike Paulenoff alerted MPTrader members to a potential up-move in U.S. Steel (X):   "If an infrastructure plan really is doable early in the Biden Administration, and if the 440% upmove from the March 2020 low to the Jan. 2021 high has not discounted just about every conceivable growth scenario, then X is turning up into another upleg as we speak.  As long as any forthcoming weakness is contained in the 16.40 to 15.

  A biotech name closely monitored in our discussion room at MPTrader and that has been on Mike's radar since the stock's explosive upmove during the height of the Covid vaccine and therapeutic drug hype last July-August is Sorrento Therapeutics (SRNE).    Mike frequently discusses the technical set up in SRNE overlaid on related company news about developmental drugs in its pipeline, and its sizable and significant short position.

Ten days ago, on February 17, Mike Paulenoff posted a detailed analysis of the bond market for MPTrader members.   In it, Mike highlighted the "increasing fear" in the bond market, with longer-term rates projected to continue to rise, and in the "Fear Index" itself, the VIX, suggesting increased risk in the equity markets.

Back on February 3, Mike Paulenoff highlighted the potential for a continued rise in gasoline futures.

This past Tuesday afternoon (Feb 9), one of our long term subscribers, Sid_F, asked Mike in his MPTrader discussion room what he makes of QS (QuantumScape Corp), which develops and commercializes lithium-metal batteries for Electric Vehicles.   Mike responded:  "Sid, QS looks to me like it ended a major correction from its high at $132.73 (12/22/20) into its $40.62 low (2/01/21), and for the last week or so, has been carving out a potential bottom ahead of lift-off into a powerful rally phase.

Back on November 23, Mike Paulenoff alerted MPTrader members to a long opportunity in Occidental Petroleum Corp. (OXY).   OXY, he explained, stood to benefit from the Biden Administration's "much less friendly" view of fossil fuels than its predecessor, which could result in reduced output amid increasing demand, thus lifting the price of crude oil.   Plus, technically he saw the stock in a developing multi-month base formation, and emerging from a significant double-bottom low.

This past Monday, after Vaxart, Inc. (VXRT) popped above key technical resistance, Mike Paulenoff posted a timely update alerting MPTrader members to a potentially significant upside breakout:   "VXRT has again climbed into heavy, but very consequential resistance from 8.30 to 9.45," Mike wrote.  "If VXRT can chew through the resistance zone, it will be poised for upside continuation that projects 14-15 in a 'normal' market.

On Thursday of this past week, Mike Paulenoff alerted MPTrader members of a long set-up in CRM (salesforce.com), writing: "After making yet another new multi-month corrective low at 212.98 last Friday, CRM has turned up and has climbed above initial resistance at 219.50-220.00, which triggered an initial 'long alert' in my work." Mike added:  "My work argues that CRM has turned up, and has triggered a preliminary buy signal.

Last Wednesday afternoon (Jan 13), with the IWM at 210.76, Mike Paulenoff told MPTrader members:   "The Russell 2000 Small Cap ETF is just about 0.5% off of its all time high. As long as any weakness is contained above 204.30, my near-term pattern set up from the 1/04 pullback low at 190.94 is poised for still higher ATHs above 211.73."   The IWM reached a high of 215 the very next day.

Back on Dec 2, after salesforce.com (CRM) reported strong earnings but price languished, Mike Paulenoff told MPTrader members:   "Weakness in reaction to the news has violated the prior significant near term pivot low at 228.66 (10/30), triggering the Bearish Scenario (Red line) that calls for a deeper correction that projects into the 220 area next, and if violated, to the 205 - 200 target zone.