Internet 2023-07-31: Unchanged at "Strong" strength rating (4th strongest of 9 levels), previous move was up
Here's my previous look at the Internet industry.
No changes during the past two weeks. As seen in Leaders and Laggards below, CDLX/Cardlytics enjoyed a 38% gain over the past week while SNAP/Snap Inc. fell by 10%.
Cardlytics, a member of the Internet Information Providers sub-industry, fell from more than $150 in February 2021 to less than $3 in March 2023. Is it possible its strong week is the start of something new for the stock, perhaps a sustained price move?
From March 28, 2023 through July 19, 2023, CDLX rose by 291%. Anyone who bottom-ticked it did so by accident. There is no claim here anyone would be able to replicate this return. What I do claim is that multi-week rallies by definition start with one up week, and if you aren't looking for something like this you won't find it.
Moreover, the goal isn't to bottom- and top-tick buys and sells. That is not possible. It is possible to participate in the meat of a move, knowing one will be late to enter and late to exit (as one would be getting out only after the stock showed enough weakness to clearly show a material change in character that merited an exit). This is entirely realistic. From there, the goal is to 1) minimize losses and 2) find and execute on opportunities that can lead to as long sustained price moves as possible. Then repeat on an on-going basis.
Leaders and Laggards
Current strongest and weakest stocks are shown below. These are of most interest as the downtrodden are prone to large (if perhaps temporary) pops while the strongest have been leading the charge for their sub-industries.
