EarningsBeats.com Digest for October 16, 2020
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New ETF Service!
Next Monday, October 19, EarningsBeats.com will be launching a new ETF service, starting with our "Model Portfolio" which will include those ETF's with the strongest attributes. We plan to thoroughly vet the leading ETF's to truly educate our members as to what they own and whether those ETF's are worthy of investment based on our own proprietary methods. We plan to track this Model ETF portfolio, just as we currently do with our Model, Aggressive, Income
and Strong AD portfolios.
The unveiling of the initial ETF Model portfolio will take place next Monday at 4:30 pm EST in a webinar presented by our Chief Market Strategist Tom Bowley. This will be a "Members Only" event but will include those who are trial members. So if you would like to attend the webinar when Tom unveils the ETF portfolio and are NOT currently an EarningsBeats.com subscriber, just click here to sign up for a NO
COST 30 day trial and you will get access to the event.
Strengthening AD Line Points To Higher Prices For This Online Learning Company
Over the past month, specialized consumer services ($DJUSCS) have been among the top 5 performing industry groups. I would argue the best performing company within this space has been Etsy, Inc. (ETSY). Though not pictured here, ETSY has everything we look for in a stock. Price/volume trends are solid and relative strength is stronger than any other stock in the group. ETSY is currently one reason why our Aggressive Portfolio has
outgained the S&P 500 by a more than 3 to 1 margin since August 19th. But there's another specialized consumer services company that's also been performing quite well:
There's overhead price resistance that must be negotiated near 88, but this rally has suggested one major point. CHGG is under accumulation. While volume has been lighter than normal of late, CHGG's AD line is moving straight up. As you can see in the above chart, all of CHGG's relative strength panels are trending higher as well. CHGG reports its latest quarterly results on 10/26 and, based on everything I'm seeing, I expect blowout
quarterly results ahead.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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