Recent Top Call by Mike Paulenoff

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.

This past Tuesday November 10, Mike Paulenoff put out a chart on Southwestern Energy Company (SWN). Pfizer (PFE) had just released its vaccine news the day before, and SWN was rallying along with other energy and industrial names. As Mike noted, "Yesterday's vaccine news suggests the shift to economic normalcy might come sooner than later, and with it more aggregate demand to propel revenues and profits in the industrial sectors (value more than growth for a change).

A week ago Friday (Oct 30), with the equity markets and precious metals under intense pressure ahead of the forthcoming election, Mike Paulenoff told members of MPTrader: "If there is one equity sector I think is imperative to participate in starting on Tuesday, well into the next Administration, regardless of who is in charge, it's the Precious Metal Miners in general, and in the (Junior) Silver Miners, in particular (SILJ).

This past Tuesday afternoon, with Zoom Video Communications (ZM) at $539.50, Mike Paulenoff told MPTrader members:   "ZM followed a very technical price path into its October high at 588.54, which my work argues ended the up-leg from the August low at 230.75...

In his MPTrader room this past Monday, Mike Paulenoff highlighted the upside potential in Grayscale Bitcoin Trust (GBTC).   With GBTC at 13.01, he wrote that it was "pushing up to test its prior rally peak at 13.03 (10/13), which if hurdled and sustained, will point GBTC towards another confrontation with its 14-month resistance zone between 14.20 and 14.70, where powerful upside potential could be unleashed."   By Wednesday GBTC reached as high as 14.49, and went on to hit a multi-month high of 14.

In his Trading Room this past Tuesday, Mike Paulenoff told members to expect more upside in PENN National Gaming (PENN).   With the stock trading at 67.16, Mike noted:   "My pattern work suggests strongly that PENN ended its most recent bout of weakness off the 75.24 high into today's low of 63.58, which is part of a larger-developing high-level bullish digestion period.  As long as this AM's low at 63.58 remains intact, PENN's set-up points higher ... towards the 73.

Back on September 22, Mike Paulenoff alerted MPTrader members to a maturing two-year accumulation period and pattern in Beyond Meat (BYND), noting: "BYND is pushing up towards a test of its year-long resistance plateau that spans from 160 to 168, which if hurdled and sustained will trigger significant upside potential that projects to 235-250, and thereafter, possibly to 280-300. If BYND does take out 165 on a close, then my sense is that Q4, 2020 will be a very powerful period of higher prices.

Back on Sep 16, Mike Paulenoff told MPTrader members that Sonos (SONO), the under-the-radar, work-at-home speaker company, had triggered initial buy signals. Mike explained that the stock, which was trading at 14.35/36 at the time, had climbed above its up-turning 10 and 17 DMAs, in route to a challenge of the "flattish" 50 DMA, now at 14.75. He wrote: "The recent low at 12.40 on 9/04 represents an exact 50% retracement of the major upleg from the March low at 6.58 to the July high at 17.

In his Trading Room on Friday, Mike Paulenoff highlighted a trading opportunity in Penn National Gaming (PENN): Mike wrote:  "During the past week, PENN has been in the grasp of a corrective process (no doubt exacerbated by the announcement of a secondary offering on Thursday morning). The correction has pressed PENN into important support at 62.00 that extends down to 57.60, and includes the up-sloping 20 DMA, now at 62.06. As long as any selling pressure is contained above 57.

On Sep 2, with QQQ trading at 300.01, down nearly 4 points from its pre-market thrust to a new all time high at 304.02, Mike Paulenoff alerted MPTrader members to the potential danger signals lurking within his chart work. He wrote: "Just in case TSLA and AAPL weakness represent the first shot over the bow ahead of a significant correction in the NDX, my work on QQQ indicates that a break and close under 298.00 will trigger sell signals that project to 280.

This past Monday (Aug 31), Mike Paulenoff started alerting MPTrader members about opportunities UVXY, then trading at 21.53. He wrote:  "UVXY continues to act like the canary in the coal mine because it is holding up so well despite ES, SPX, SPY climbing to new all time highs. UVXY remains 12% above its 8/26 low at 18.76 and, more conspicuously, 50% above its 2/20/20 low at 10.65!" Mike added, "UVXY needs to climb and sustain above 23.

Edwards Lifesciences Corporation (EW) broke out this past week, and MPTrader members were prepared. In his Trading Room a month earlier (Mon July 20), Mike highlighted the stock for its potentially powerful upside technical set-up, writing:   "Since last November, EW has undergone a sharp correction from 82.55 (11/19/19) to 51.