We have a perfect storm of positives to kick off the week.
Positive China trade news
Positive Thanksgiving week seasonality
Solid technical pattern after a period of consolidation
A high level of anticipatory bears
Underinvested longs looking for exposure
Stronger pockets of momentum
Small-cap improvements.
So far the S&P500 has gone straight up from the open without any pullback. The biggest difficulty for many market participants is trying to put money to work. I have far too much cash and I'm chasing entry points trying to put it to work.
A good example of the momentum out there right now Splunk Inc. (SPLK) , which is building on a big move on Friday after a strong report. I'm playing Datadog Inc. (DDOG) and Ping Identity Holding Corp. (PING) , that are related.
InMode Ltd. (INMD) came back very nicely after a sharp selloff and my technical buy here on Monday is NeoPhotonics Corp. (NPTN) . A few other names on my radar are AudioCodes Ltd. (AUDC) , Sea Limited (SE) and Inseego Corp. (INSG) .
This price action is steamrolling the bears and causing some major FOMO (fear of missing out) among the bulls.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
The stock was sold down hard at the open but has bounced nicely as the day has progressed.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.
Email
Email sent
Thank you, your email to has been sent successfully.
