- Yesterday I made a call that the Market bottomed on 6/16.
- Barchart's Trend Spotter has moved from Sell to Hold on ARKK.
- 35 of the Fund's 36 holdings have a positive return over the last 5 days.
The Chart of the Day belongs to the controversial and highly followed ETF called ARK Innovation ETF ( ARKK ) managed by Cathie Wood. Yesterday, I made my call that the market has bottomed and I was looking to start reinvesting my cash and looking for stocks to buy. I have an All Markets watchlist of 40 ETFs and stocks that covers the entire investing world including Cap Weighted ETFs, Sector ETFs, managed portfolios, Emerging and Frontier markets, Bonds, Real Estate, Private Equity, Oil, Precious Metals and Crypto.
Last week every single one of them were rated SELL by the Barchart Trend Spotter. This was a very unusual sign when every possible way to make money by investing was giving negative signals.
Today ARKK was the only one that had moved from SELL to HOLD. ARKK has 36 hand picked disruption stocks and today 16 of those stocks have BUY signals and 2 more have moved from SELL to HOLD.
ARKK vs. Daily Moving Averages (Barchart.com)
ARKK is an actively-managed exchange-traded fund ("ETF") that will invest under normal circumstances primarily (at least 65% of its assets) in domestic and foreign equity securities of companies that are relevant to the fund's investment theme of disruptive innovation. Its investments in foreign equity securities will be in both developed and emerging markets. It may invest in foreign securities (including investments in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs")) and securities listed on local foreign exchanges. The fund is non-diversified. (Source: Seeking Alpha)
It's top 11 holdings include:
- Zoom Video (ZM)
- Tesla (TSLA)
- Roku (ROKU)
- CRISPR Therapeutics (CRSP)
- UiPath (PATH)
- Teladoc (TDOC)
- Exact Sciences (EXAS)
- Block (SQ)
- Intellia Therapeutics (NTLA)
- Twilio (TWLO)
- Coinbase (COIN)
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 64% technical Sell signals but increasing to Hold overall
- Negative 63.79 Weighted Alpha
- 62.31% loss in the last year
- Trend Spotter hold signal
- Above its 20 and 50 day moving averages
- 1 new high and up 4.58% in the last month
- Relative Strength Index 57.39%
- Technical support level at 44.79
- Recently traded at 46.83 with 50 day moving average of 43.27
Fundamental factors:
- Assets Under Management $8.85 billion
- Expense ratio .75%
- Dividend yield 1.78%
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- 91,510 investors are monitoring the stock on Seeking Alpha
For further details see:
Time To Board The ARKK