Although the folks in the business media are still yammering about Dow 20,000, the indices are doing little. Breadth is running poorly, with about 2,800 gainers to 3,700 decliners, but there are still over 250 new 12-month highs on the list. The FANG names, biotechnology, oil and financials are weaker but there is some stock picking if you dig deep.
Twilio (TWLO) , which I highlighted as a top play for 2017 this past weekend, is up nearly 6% today on news that it may be gaining business from Amazon (AMZN) . Oclaro (OCLR) , which was named my stock of the week, is up after money manager, Louis Navellier, mentioned on CNBC that he has a large position.
Health Insurance Innovations (HIIQ) , which has been a favorite for a while, is pushing to all-time highs on good volume -- and I added. Recent African oil pick, Kosmos Energy (KOS) , is hitting new highs. Among big-caps, recent stock of the week, Netflix (NFLX) , is acting well and I added a little to my position.
There are some trades working, but overall the market looks tired and in need of a rest. I suspect that a day or two of flattish action is what is needed to create the platform from which the DJIA can take out that annoying 20,000 level. Once that is done, it is likely to be challenging into the end of the year, but we'll just take it one day at time.