The market is doing an excellent job of shaking off some premarket nervousness created by President Trump's tweets. Talk about bombing is never a market positive but this market has learned not to take the President's rhetoric too seriously.
The indices have been slowly but steadily improving since the tweetstorm this morning Breadth is running negative and Facebook (FB) is no longer providing much bounce but there is good strength in biotechnology, precious metals and a mix of other groups.
As I discussed in my opening post this is trading range action and that means it's a good time to focus on stock picking. A few names on my radar this morning are Baozun (BZUN) , Health Insurance Innovations (HIIQ) , Vericel (VCEL) , Sangamo (SGMO) , Ocular Therapeutix (OCUL) and PagSeguro Digital (PAGS) .
In this sort of action is it very easy to be jerked around by headlines and lose sight of the fact there is some positive action in individual stocks. Focus on those and spend less time worrying about overall market direction. That is what I'm doing and it is working.
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Look for CL to see higher prices after some consolidative price action.
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