Recent Top Call by Mike Paulenoff

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.

On the evening of November 30, after Zoom Video Communications (ZM) reported earnings, Mike Paulenoff cautioned MPTrader members about the stock;       "My pattern work argues that ZM started a major correction off of its 10/20 all-time high of 588.54 into the 11/10 low at 366.28. The rally from the 11/10 low at 366.28 to today's high at 487.79 (+33%) to my mind represents an intervening recovery bounce prior to a second bout of weakness that completes the larger corrective process.

During late November into early December, Mike Paulenoff became increasingly concerned about the price behavior of Facebook (FB).   The stock not only was grossly underperforming the NDX but also was in the news constantly in an unflattering light regarding its leader, Mark Zuckerberg, and censorship accusations. Since early November, the NDX is up about 10%, while FB is unchanged.

On Tuesday morning, December 8, with AAPL trading in pre-market action at 124.64, Mike Paulenoff told MPTrader members to watch for more upside: "AAPL is following a similar, if less exciting post-coil breakout price path than did TSLA one month ago. My attached 4-hour chart shows that since the end of the Sep-Nov coil formation at 112.59 on 11/24, AAPL has stair-stepped to the upside to this AM's pre-open high at 124.96 (+11% so far), in route to a challenge of the 11/09 rally high at 127.

Early on December 3, after Goldman Sachs upgraded TSLA to Buy from Neutral and raised its 12-month target price 780, a full 31% from its then price of 592, Mike Paulenoff wrote MPTrader members: "I wonder whether or not its (Goldman Sachs) newfound bullishness is a contrary indication, like putting a bull on the cover of Barron's or Time magazine? As for the technical set up in TSLA, my attached chart work argues for a new all time high above 607.

After Salesforce.com (CRM)'s earnings report late Tuesday, Mike Paulenoff cautioned MPTrader members about the stock, noting:   "CRM beat The Street on Earnings, Revenues, and Raised Guidance, BUT... confirmed buying Slack (WORK) for $27.7 Billion, which continues to give some investors a bit of indigestion. CRM is 4% lower from the 4 PM ET close, pressing down to 230.60, which we see on my attached chart is nearing a full-fledged test of the technically critical 10/30 low at 228.66.

This past Tuesday afternoon (11/24), in response to an MPTrader subscriber question about PayPal (PYPL), Mike Paulenoff wrote: "My interpretation of the BIG picture set up is that PYPL ended a near-term correction from its 9/02 high at 212.46 into the 11/03 low at 174.81, where it also started a new upleg that remains in progress, and points to a target zone of 215-220." The stock, which was trading at 205.

Ten days ago (on Nov 11), with Blink Charging Co. (BLNK) trading at 9.62 just ahead of its earnings report, Mike Paulenoff wrote in our his Trading Room: "Is this [report] the catalyst that sends BLNK surging to and through multi-YEAR resistance at 14.50-15.00? It certainly could be because the huge base formation exhibited on my attached Daily chart shows that for the past 3-1/2 months, it has been digesting the gains from the March low at 1.25 to the July high at 14.