It's a Stock Pickers Market

There's much going on with individual stocks, and I like this trading action.

The major indices are close to flat, but breadth is running 4500 gainers to 3300 decliners, and the Russell 2000 ETF (IWM) is leading with a gain of 0.8%. That is good evidence that this is a market-driven by stock picking rather than the indices and macro concerns.

The pockets of momentum are fairly narrow, but there is strong action in crypto miners, some Trump-related plays, a few SPACs, and other groups favored by speculative traders.

A few crypto-related names on my radar include Hut 8 Mining (HUT) , Marqeta (MQ) , and Cipher Mining (CIFR) . I am also focusing on some of the small-caps that I like fundamentally that have not traded well recently, such as urban-gro (UGRO) , Elys Game Technology (ELYS) , Xeris Biopharma (XERS) , and a few others.

Standard Lithium (SLI) in the lithium sector is breaking out, and Lithium Americas (LAC) in that group also looks good. The Beauty Health Co (SKIN) is another chart I'm watching closely for a breakout trade.

My Stock of the Week is Redwire (RDW) , and it is developing well as it awaits news flow. I continue to build my position there.

There is much going on with individual stocks, and I like this trading action. I continue to put money to work but still have a good amount of cash to work with.

At the time of publication, James "Rev Shark" DePorre was Long HUT, MQ, CIFR, UGRO, ELYS, XERS, SLI, LAC, RDW.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider UGRO, ELYS and XERS to be small-cap stocks. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.