The DJIA is trading down, the S&P 500 and breadth is just slightly positive, but there continues to be some exceptional strong pockets of trading action. We have over 500 stocks hitting new 12-month highs and dozens that are up more than 10% today. At least 25 stocks are making moves of 20% or more.
The SPAC sector remains very hot and there is interest in themes like batteries, lithium, LIDAR, gambling, and biotechnology. There are so many big movers that it is hard to keep track and I'm having a difficult time managing my positions.
My methodology is to take some partial profits into strength while I continue to look for new entry points. I've been doing a little selling of some bigger movers like Elys Game Technology (ELYS) , Tuscan Holdings (THCB) , Desktop Metal (DM) , Triterras Financial (TRIT) , Velodyne Lidar (VLDR) , etc., but I am trying to stay with strong momentum as best I can. I find the best way not to be left out is to focus on making partial sales. There is always a desire to ring the register when you have a big gain but you don't have to sell everything.
This action is so good that it is impossible to not worry that it is a blow-off top. That is another reason why taking some partial profits is a good idea.
I'm hesitant to put much additional money to work but mainly because I'm trying to juggle too many trades and trying to protect some sizable recent gains. I need to regroup a bit but the market doesn't seem to care what I want.