The major indices are trading flat to down, and breadth is running close to even, but there still are some pockets of hot action. A bounce in Bitcoin is driving a number of stocks like Marathon Digital (MARA) , Riot Blockchain (RIOT) , MicroStrategy (MSTR) , Canaan (CAN) , and Grayscale Bitcoin Trust (GBTC) , but there aren't any other really hot themes right now, although oil is showing some good relative strength.
We have 50 or so names up more than 10% as traders are looking hard for action. The indices continue to be ignored, and they aren't doing anything anyway.
One name I've been buying aggressively this morning is ASLAN Pharmaceuticals (ASLN) . Another company called RAPT Therapeutics (RAPT) reported positive results for its drug that treats atopic dermatitis. ASLN is developing a drug that treats the same issue, and it has had better results so far and selling for about one-fourth the level. I suspect that the traders that are chasing RAPT are unaware of the competitive advantages of ASLN.
My Stock of the Week is Crocs (CROX) , and it is breaking out to a new all-time high Monday morning. It is a good-looking chart, and CROX seems to be attaining 'fad' status as it introduces special editions of its shoes. They may be ugly shoes, but the chart is attractive, and sales are good.
The indices aren't doing much, and stocks are mixed, but if we stay selective with stock picks, there is good opportunity.