The special procurement company Churchill Capital Corp IV (NYSE: CCIV) caught the eye of Tim Quast, founder and CEO of Market Structure EDGE.
The SPAC announced on February 22 that it would merge with Lucid Motors.
“[The] The sentiment has reached the bottom, so I look at it purely from a market structure point of view and say, ‘Wow, that’s very interesting now,’ ‘Quast said at Benzinga’s PreMarket Prep show on Monday.
“If you want to make money in something, you leave when the sentiment is at the top and start slipping. Then you come back when the sentiment rises.”
Quast’s Stock Ideas: The next stock on Quast’s radar is Eaton Corp. (NYSE: ETN).
“Sometimes you go where people are not and then you get back there,” he said, calling Eaton a “great stock to trade.”
When sentiment ‘ticks more than five, which it just did, it’s a great time to own it’, he said.
Dennis Dick, co-presenter of PreMarket Prep, said he likes buying stocks near the highs.
‘If this thing could break out over that $ 142 [level], I think you’re giving us some great ideas here this morning. ‘
Named Quast The Walt Disney Company (NYSE: DIS) as another stock with a short volume that shot up right at expiration of options.
Short volume is now under trend and sentiment is tapping, he said.
“In terms of market structure, it looks attractive.”
Producer Spencer Israel has asked Quast for an update on Palantir Technologies Inc. (NYSE: PLTR).
What’s interesting about Palantir is ‘how difficult it was for this stock to recover’, Quast said.
“At some point, money will come back after this.”
For reference, the average wood time for one of Quast’s is five days.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.