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  1. Home
  2. / Investing

Speculative Trading Has Cooled Off a Bit

But aggressive action by retail traders is one reason that I'm not too worried about a substantial correction at this time.
By JAMES "REV SHARK" DEPORRE
Sep 22, 2021 | 11:09 AM EDT
Stocks quotes in this article: HUT, DATS, DNA, OCUL

We have quiet but positive trading in front of the Fed policy decision that will be released this afternoon. As I've written many times, the market loves to love the Fed and is generally inclined to put a positive spin on whatever it may do or say.

There is also some relief about the Evergrande debt issue, but the market still has some technical issues. The bounce following the carnage on Monday is a pretty routine oversold bounce, and it lacks in vigor, and the bears are rooting hard for a retest. Retests have been fairly rare in recent years, but we do have to keep an eye on the potential for a failed bounce just in case the Fed generates some sort of negative reaction.

I've been dinking around with a variety of trades this morning but am not doing anything too sizable. I've added to Hut 8 Mining (HUT) , DatChat (DATS) , Ginkgo Bioworks (DNA) , Ocular Therapeutix (OCUL) , and a few other things, but I am not feeling much urgency to add exposure.

Speculative trading has cooled off a bit this morning, but we still have 50 or so stocks up more than 10%. This aggressive action by retail traders is one reason that I'm not too worried about a substantial correction at this time.

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At the time of publication, James "Rev Shark" DePorre was Long HUT, DATS, DNA, OCUL.

TAGS: Investing | Markets | Stocks | Trading

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