20+ Small Cap Gems Await - Can You Pick The Best One?

Welcome back! January 2024 is almost out of here! Brrr, it's freezing ❄️ but the market is ! Momentum's on fire 🔥, right? Concerns might still be out there but... all-time-highs!! 🚀

Author

Bootleg Macro
January 21, 2024

Welcome back! January 2024 is almost out of here! Brrr, it's freezing ❄️ but the market is ! Momentum's on fire 🔥, right? Concerns might still be out there but... all-time-highs!! 🚀

Nasdaq was up 2.91%, S&P500 was up 1.11% and DJIA was up 0.68% for the week. We are hitting or flirting with all-time-highs in all 3 indexes.

Please accept all time highs in indexes, with small caps being rejected from a breakout and the vix hitting a 60 day high over $15 this week.

We’re cool as Vics Vapor rub 🥶😎, baby.

As a person, I have small saying. When chaos erupts🌋, to remain calm instead of fraying.

“Are you patient enough to let the mud settle and the water to clear?”

This saying reminds me to breathe deep. Take a step back. Pretend I’m giving someone else advice in the same situation. It’s a resetting phrase for me.

In this market, patience is our ally and impatience is our enemy. Time 🕰️ is our weapon.

The less action we take, the more we beat 🏆 the market.

Why should we do anything except buy on red and go about our daily life?

Bear meat 🥩 only exists in small caps🧢. Where it can be argued small caps lag. But you know, leaders are supposed to lead. Championships 🏆aren’t won by role players. MAGMNA (MSFT, AMZN, GOOG, META, NVDA) add in even CRM are able to carry the market.

24 smaller market cap new highs await you below. Heavily into insurance and biotech. Many more sectors but this market blend is yield sensitive. Interest rates rules, for now.

It’s no secret people wish for a rate cut✂️. Until then, we have breakouts galore. Indexes at highs and people complaining.

Trust price.🤝

- Dustin

Market Performance


I mentioned trusting the price, but this week there's a data issue. Google Finance doesn't have data for January 18th. So, the 1-day and rolling returns compare January 19th to 17th, making % gains appear larger. All other data is off by a day. The final price is accurate, but rolling returns use an incorrect timeframe due to missing January 18th data. This is the limitation of free data. I'm working on a better tool.

A week in review. VIX sent a message. The indexes sent a response too. A VIX outburst doesn’t kill a bull market. Bulls only run away for a bit. Then demand returns. Prices rise. All-time-highs.

VIX be damned, MSFT, NVDA, CRM, AMZN and META lead the way. Indexes reflect their dominance. It’s pretty simple in this market.

If the volatility is falling (check Volatility Corner below), interest rates aren’t GOING UP (big point, it doesn’t require them going down) and inflation reports are muddled at worst and falling at best, it’s our time.

Personally, I appreciate the sideways and upward glide of price over these 3.5 months.

The S&P500 has a narrow range. Price is beyond the top and I expect range expansion, very bullish.

A side ways 6 weeks since December 8th 2023 is a perfect backdrop. Going forward into February 2024 and beyond.

A narrow range is a setup for a move. My expectation is bullish.

Surprising to think the Nasdaq has done 2.72% in 1 month. It’s been sideways with a slight upward slope like the rest of indexes. Fantastic look.

Another narrow range with price expansion and possible range “Higher-Highs” and “Higher-Lows”. That’s a big signal for my process.

Volatility Corner:

VIX / VVIX improved! Blue up is good, blue down is bad. The blue line has a HIGH CORRELATION to overall markets. You see the up and down…we are back above the 10 Week Moving Average. Which is positive.

The recent action was choppy yet we’ve hit an All Time High. The $VIX has more BULLISH signals. The daily trade range for the $VIX is showing higher-highs in the range. That’s terrible outlook for the overall market.

But in the face of adversity, follow price. We have over 20 new highs this week with the VIX hitting over 15 for the first time in 2 months.

MACRO INDICATOR:

Long-term, we are in a BULL MARKET. Daily, we are in a BEAR MARKET

  • MACRO SEASON: BULLISH Since 12/2/22🟢

  • MICRO WEATHER: BEARISH Since 7/27/23🛑

Enjoying this?

& Invite a friend.

New Highs $5-$20:

  1. ORI - Old Republic International Corp. - Insurance - Diversified - Financial - 🇺🇸

  2. MTG - MGIC Investment Corp - Insurance - Specialty - Financial - 🇺🇸

  3. PK - Park Hotels & Resorts Inc - REIT - Hotel & Motel - Real Estate - 🇺🇸

  4. OWL - Blue Owl Capital Inc - Asset Management - Financial - 🇺🇸

  5. EWTX - Edgewise Therapeutics Inc - Biotechnology - Healthcare - 🇺🇸

  6. MGNX - MacroGenics Inc - Biotechnology - Healthcare - 🇺🇸

  7. TK - Teekay Corp - Oil & Gas Midstream - Energy - 🇧🇲

  8. AEG - Aegon Ltd. - Insurance - Diversified - Financial - 🇳🇱

ORI - Old Republic International Corp. - Insurance - Diversified - Financial - 🇺🇸

MTG - MGIC Investment Corp - Insurance - Specialty - Financial - 🇺🇸

PK - Park Hotels & Resorts Inc - REIT - Hotel & Motel - Real Estate - 🇺🇸

OWL - Blue Owl Capital Inc - Asset Management - Financial - 🇺🇸

EWTX - Edgewise Therapeutics Inc - Biotechnology - Healthcare - 🇺🇸

MGNX - MacroGenics Inc - Biotechnology - Healthcare - 🇺🇸

TK - Teekay Corp - Oil & Gas Midstream - Energy - 🇧🇲

AEG - Aegon Ltd. - Insurance - Diversified - Financial - 🇳🇱

Enjoying this?

& Invite a friend.

New Highs $20+:

  1. APGE - Apogee Therapeutics Inc. - Biotechnology - Healthcare - 🇺🇸

  2. SLNO - Soleno Therapeutics Inc - Biotechnology - Healthcare - 🇺🇸

  3. OCSL - Oaktree Specialty Lending Corporation - Credit Services - Financial - 🇺🇸

  4. VECO - Veeco Instruments Inc - Semiconductor Equipment & Materials - Technology - 🇺🇸

  5. AFYA - Afya Ltd - Education & Training Services - Consumer Defensive - 🇧🇷

  6. TNK - Teekay Tankers Ltd - Oil & Gas Midstream - Energy - 🇧🇲

  7. MRUS - Merus N.V - Biotechnology - Healthcare - 🇳🇱

  8. STEP - StepStone Group Inc - Asset Management - Financial - 🇺🇸

  9. MCY - Mercury General Corp. - Insurance - Property & Casualty - Financial - 🇺🇸

  10. INSW - International Seaways Inc - Oil & Gas Midstream - Energy - 🇺🇸

  11. LRN - Stride Inc - Education & Training Services - Consumer Defensive - 🇺🇸

  12. IDYA - Ideaya Biosciences Inc - Biotechnology - Healthcare - 🇺🇸

  13. CRDO - Credo Technology Group Holding Ltd - Communication Equipment - Technology - 🇰🇾

  14. CBZ - Cbiz Inc - Specialty Business Services - Industrials - 🇺🇸

  15. FORM - FormFactor Inc. - Semiconductors - Technology - 🇺🇸

  16. ARCH - Arch Resources Inc - Coking Coal - Basic Materials - 🇺🇸

APGE - Apogee Therapeutics Inc. - Biotechnology - Healthcare - 🇺🇸

There isn’t enough data for a trade card.

SLNO - Soleno Therapeutics Inc - Biotechnology - Healthcare - 🇺🇸

OCSL - Oaktree Specialty Lending Corporation - Credit Services - Financial - 🇺🇸

VECO - Veeco Instruments Inc - Semiconductor Equipment & Materials - Technology - 🇺🇸

AFYA - Afya Ltd - Education & Training Services - Consumer Defensive - 🇧🇷

TNK - Teekay Tankers Ltd - Oil & Gas Midstream - Energy - 🇧🇲

MRUS - Merus N.V - Biotechnology - Healthcare - 🇳🇱

STEP - StepStone Group Inc - Asset Management - Financial - 🇺🇸

MCY - Mercury General Corp. - Insurance - Property & Casualty - Financial - 🇺🇸

INSW - International Seaways Inc - Oil & Gas Midstream - Energy - 🇺🇸

LRN - Stride Inc - Education & Training Services - Consumer Defensive - 🇺🇸

IDYA - Ideaya Biosciences Inc - Biotechnology - Healthcare - 🇺🇸

CRDO - Credo Technology Group Holding Ltd - Communication Equipment - Technology - 🇰🇾

CBZ - Cbiz Inc - Specialty Business Services - Industrials - 🇺🇸

FORM - FormFactor Inc. - Semiconductors - Technology - 🇺🇸

ARCH - Arch Resources Inc - Coking Coal - Basic Materials - 🇺🇸

Enjoying this?

& Invite a friend.

What service do we provide the reader? (Save You Time 🕰️🕰️🕰️)

The Price🏷️ of Loving ❤️Stocks📈

The biggest price we pay for a love of markets is the time 🕰️. Screen time. Sitting watching. No moving, no living, it’s silent and the same. Stop wasting time. Subscribe and get a finely designed list of company stocks to your inbox every Sunday morning ready for review.

If you spend more than 2 hours looking at charts a month, we can save you time and money. For FREE, you will get 100+ reviewed tickers sent your inbox. Get smarter about the markets without drowning in charts and wasting your life on screen time.

Take a break from the markets, let someone else send you curated, aggregated and finely designed breakouts. We see new action everyday. You don’t want to miss out on the next chance to join.

Enjoying this?

& Invite a friend.

Get Connected: Follow @BootlegMacro

Model Builder Course:

  • I have a course. You build the tool you see me using in the videos. You get to build your own version of the same model you see me use in every video. I’m adding to it over time as well so you’ll get all updates I do to the course forever.

    Thank you,

    BootlegMacro

🚀 Unveiling the Swift Trader Spotlight: The Pioneer Newsletter 📈

🚀 Unveiling the Swift Trader Spotlight: The Pioneer Newsletter 📈

Hey Bootleg Macro enthusiasts! We're ecstatic to introduce the Swift Trader Spotlight: The Pioneer Newsletter. Delve into daily briefings that take you far beyond mere trend tracking. Experience rich insights, paired with compelling visuals directly from the Swift Trader Chrome Extension. Additionally, stay updated with our 5-minute video briefings four times a week and nightly dispatches detailing trend flips for SPY & QQQ.

Special Offer: To celebrate, all "New High Newsletter" subscribers get their first week of The Pioneer Newsletter for FREE!

🔗 Discover More & Subscribe Here: [Your Link Here]

Elevate your trading acumen with curated insights and in-depth market coverage. Navigate the stock market's ever-changing trends like never before. #PioneerInsights #TradeSmarterWithSwift #SwiftTraderSpotLight

Enjoying this?

& Invite a friend.

Disclaimer:
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.
The information contained on this website has been prepared based on publicly available information and proprietary research. The author does not guarantee the accuracy or completeness of the information provided in this document. All statements and expressions herein are the sole opinion of the author and are subject to change without notice.
Any projections, market outlooks or estimates herein are forward looking statements and are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. Except where otherwise indicated, the information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the author undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional materials.
The author, the author’s affiliates, and clients of the author’s affiliates may currently have long or short positions in the securities of certain of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Neither the author nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. In addition, nothing presented herein shall constitute an offer to sell or the solicitation of any offer to buy any security.

Enjoying this? Probably not, it’s the disclaimer.

& Invite a friend.

🚀 Unveiling the Swift Trader Spotlight: The Pioneer Newsletter 📈

Hey Bootleg Macro enthusiasts! We're ecstatic to introduce the Swift Trader Spotlight: The Pioneer Newsletter. Delve into daily briefings that take you far beyond mere trend tracking. Experience rich insights, paired with compelling visuals directly from the Swift Trader Chrome Extension. Additionally, stay updated with our 5-minute video briefings four times a week and nightly dispatches detailing trend flips for SPY & QQQ.

Special Offer: To celebrate, all "New High Newsletter" subscribers get their first week of The Pioneer Newsletter for FREE!

🔗 Discover More & Subscribe Here: [Your Link Here]

Elevate your trading acumen with curated insights and in-depth market coverage. Navigate the stock market's ever-changing trends like never before. #PioneerInsights #TradeSmarterWithSwift #SwiftTraderSpotLight