• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Stocks

Keep an Eye on Biotech and Cryptos as the Weekend Approaches

There's one name I've added to today.
By JAMES "REV SHARK" DEPORRE
May 28, 2021 | 11:54 AM EDT
Stocks quotes in this article: UPST, AMC, IWM, QQQ, AUPH, SURF, GMDA, PSNL, MOGO, COIN

Volume is slowing, and volatility is picking up as trading winds down in front of the Memorial Day holiday weekend. Traders are more anxious than usual for the holiday this year as it coincides with the end of many COVID pandemic restrictions and a return to normal.

There is still quite a bit of speculative trading taking place, but it is much choppier action. For example, Upstart Holdings (UPST) has been in a $14 range, and AMC Entertainment (AMC) has jumped around in about a $5 range. There isn't any news driving the action. It is just traders looking for some action in a favorable trading environment.

Breadth is running a little weaker Friday with around 4,200 gainers to 3,450 decliners, but there are over 400 new 12-month highs. Small-caps ( (IWM) ETF) are trading around flat after some early strength, but the FATMAAN names are helping the Nasdaq 100 ( (QQQ) ETF) outperform.

I see some interesting relative strength in biotechnology today, albeit on lower volume. Aurinia Pharmaceuticals (AUPH) , for example, continues to push straight up after hitting a low on May 11. A number of others such as Surface Oncology (SURF) , Gamida Cell (GMDA) , and Personalis (PSNL) are also acting well.

Cryptocurrencies have bounced a little after a weak start, but there is probably some nervousness about how they will trade this weekend with the equity markets closed. Last weekend there were very sharp selloffs in bitcoin and others, but much of it was recovered before stocks reopened for trading. Cryptos trade 24 hours a day, seven days a week, so if you are using stock market equivalents, you are locked out of the trading.

One name I've added to today is Mogo Fin Technology (MOGO) , which is buying a large stake in the Canadian equivalent of Coinbase Global (COIN) . I suspect MOGO will do well as the level of crypto trading continues to expand.

We'll see what develops as the day winds down, but many traders are already starting the weekend festivities.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, Rev Shark was long UPST, MOGO, AUPH, GMDA, SURF and PSNL.

TAGS: Bitcoin | Investing | Markets | Small Cap | Stocks | Trading | Biotechnology | U.S. Equity | Cryptocurrency | Coronavirus

More from Stocks

We're in the Jaws of a Bear Market, Whether You Want to Admit It or Not

James "Rev Shark" DePorre
Sep 26, 2023 4:24 PM EDT

Not even big caps like Microsoft or Apple could save the indexes -- but here's why some bad news could help shake out remaining false hopes.

Treasury Capitulation Is a Necessary Evil

Carley Garner
Sep 26, 2023 3:32 PM EDT

It is clear that interest rates are driving the ship, but that ship could be on the cusp of taking a major turn. If so, we can expect trend changes in other assets.

Williams-Sonoma Stock Jumps After Private Equity Investment

Bruce Kamich
Sep 26, 2023 1:34 PM EDT

Let's see what the charts are telling us now.

An Update on My Top Small-Cap Pick and What It Means for the Overall Market

James "Rev Shark" DePorre
Sep 26, 2023 11:30 AM EDT

The good news is that the corrective action is advancing and opportunities are developing.

Want to Bet That DraftKings Stock Has Rolled Over?

Bruce Kamich
Sep 26, 2023 10:00 AM EDT

Shares of the gambling site have weakened just as the football season gets into full swing.

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

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 12:20 PM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Trading in Multiple Time Frames
  • 10:24 AM EDT BRUCE KAMICH

    This Could Get Messy

    A number of key stocks are getting close to import...
  • 01:41 PM EDT CHRIS VERSACE

    Latest AAP Podcast With Helene Meisler!

    Listen in as the Action Alerts PLUS podcast talks ...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login