The indices are barely moving Wednesday morning as they await some sort of headline to react to, but breadth is running about 3,800 gainers to 2,900 decliners. For over a week now I've been saying this is a stock-picker's market. While that term may be a cliché that is often used incorrectly, there are some great examples of how it is working now.
Traders are aggressively going after some of the electric car plays again, with Kandi Technologies Group (KNDI) being the star Wednesday. Nio, Inc. (NIO) , which is a China version of Tesla, Inc. (TSLA) , has been lagging but is waking up lately. Blink Charging Co. (BLNK) provides charging for electric cars and is a "pick and shovel" play on the sector.
My favorite cannabis play, Pyxus International (PYX) , moves to a new recent high and 5G play, Intelsat (I) , is up nicely after lackluster earnings.
There are plenty of other names doing well such as Garmin Ltd. (GRMN) , Invitae Corp. (NVTA) (discussed Wednesday by Real Money's Bret Jensen) and Utragenyx Pharmaceutical (RARE) , which is attracting speculative interest.
What sometimes happens in flat markets is that traders gravitate toward a smaller group of more active stocks and it creates better pockets of momentum. Money needs a place to go so when the indices aren't offering much opportunity it flows into individual speculative names.
I'm going to continue to dig for names that may attract aggressive traders. This is a great environment for it mainly because the indices look like they are comatose.
