Stock Picking Winning Mindset
September 19 2019 - Stock Picking Expert Mark Minervini On The Mindset To Win By Investors Business Daily
Stock picking expert Mark Minervini joined the "Investing with IBD" podcast this week for a discussion about current market conditions and the champion-level mindset needed to win when it comes to buying and selling stocks. Plus, we looked at three top stocks on his watch list: AutoZone (AZO), Lattice Semiconductor (LSCC) and Ares Management (ARES).
Current Stock Market Conditions
If you're talking about the stock market in terms of the S&P 500, we're in an uptrend. But if you look at the Russell 2000, small cap stocks have been moving sideways for a while, but they're trying to carve out the right side of a base pattern. That means we have a bifurcated market, according to Minervini.
Some highflying stocks were hit hard recently, like Roku (ROKU). And when it comes to the conversation about growth vs. value, Minervini says the most important thing is to look at the charts of individual stocks instead of trying to guess what area of the market is doing well.
Minervini's Mindset Tips For Stock Picking
Minervini said the secret behind his success in trading is changing his mindset. When he started investing, he did nothing but lose money. It took him seven years before he was even profitable. He decided to study how the great traders were thinking and what their mindset was.
"If you're thinking is not aligned with what it needs to be to implement [your] strategy, you'll self destruct," Minervini told host Irusha Peiris. "The thinking always wins. ... Wherever you think, that's where you're going to go."
Throughout the interview, he gives an inside look at his upcoming book, "Mindset Secrets for Winning: How to Bring Personal Power to Everything You Do," so listen to the show for all of his key insights on trading and beyond.
Minervini and Peiris also analyzed three stocks on their radar: AutoZone stock, Lattice Semiconductor stock and Ares Management stock. Basic analysis and charts are below, but again, make sure to listen or watch the full episode to get the crucial details!
AutoZone stock is closing in on a 1,186.70 buy point from a cup base with earnings right around the corner. Analysts are expecting AutoZone stock to report annual earnings growth of 24% this year.
Lattice Semiconductor Stock
Lattice Semiconductor stock is holding near highs after testing a flat-base buy point. The chip designer is expected to see earnings growth of 70% this year. Lattice stock earns a best-possible IBD EPS Rating of 99, underscoring its earnings strength.
Ares Management Stock
Ares Management stock gapped down in heavy volume Thursday, but it's still above its 50-day line. Shares have gained over 20% since breaking out of a base in April, and Ares stock has been able to find support at its 50-day line along its run.
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