• 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
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • 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
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Stocks

Profit-Taking Is Kicking In: Here Are Some Names on My Shopping List

Study those charts and be ready to act as things develop.
By JAMES "REV SHARK" DEPORRE
Feb 05, 2021 | 11:19 AM EST
Stocks quotes in this article: AUPH, HYRE, NETE, ALTO, XERS, SNCR, GMDA, HYFM, FUBO, FBRX, SOLO, ANIP, NPA, SOL, SOLY, LAC, ACTG, LGVW, BFT, GMBL, BRGGF, GAN, TCNNF, MSOS, GTBIF, VFF, CRLBF

Opening strength Friday morning has been met with steady selling in many of the small-cap stocks that have been leading recently. Breadth is still excellent at better than 2 to 1 positive, and over 750 stocks hit new 12-month highs, but it looks like traders are in the mood to lock in some gains as they finish up an excellent week for stock-picking.

The stocks that led Thursday are lagging badly Friday, but it doesn't look like there is any rush for the exits. It is just some profit-taking and cutting of exposure. I expect many of these names to set up quite well again after a bit of rest.

There is often an inclination to read too much into minor weakness after a good run. It is not only healthy but should be expected that stocks don't go straight up. It is necessary for those with a shorter-term time frame to exit and those with more optimism longer-term to step in. This sort of action is why I constantly preach to take partial profits into strength and then look for remounts lower.

I'm working on my shopping lists, and here are some names that I'll be looking to add: Aurinia Pharmaceuticals (AUPH) , HyreCar Inc. (HYRE) , Net Element (NETE) , Alto Ingredients (ALTO) , Xeris Pharmaceuticals (XERS) , Synchronoss Technologies (SNCR) , Gamida Cell (GMDA) , Hydrofarm Holdings (HYFM) , fuboTV (FUBO) , Firte Biosciences (FBRX) , Electrameccanica Vehicles Corp.  (SOLO) , ANI Pharmaceuticals (ANIP) , New Providence Acquisition Corp.  (NPA) , ReneSola (SOL) , Soliton (SOLY) , Lithium Americas (LAC) , Acacia Research (ACTG) , Longview Acquisition (LGVW) , Foley Trasimene Acquisition Corp. II  (BFT) Esports Entertainment Group (GMBL) , Bragg Gaming Corp. (BRGGF) , GAN Ltd. (GAN) .

The best-looking sector on my screens continues to be cannabis, and I'm holding positions in Trulieve Cannabis (TCNNF) , AdvisorShares Pure US Cannabis ETF (MSOS) , Green Thumb Industries (GTBIF) Village Farms International (VFF) , Cresco Labs (CRLBF) , and several others.

The wild momentum Thursday was a lot more fun than the selling today, but this is the sort of action that should give us some good setups for next week. Study those charts and be ready to act as things develop.

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 AUPH, HYRE, NETE, ALTO, XERS, SNCR, GMDA, HYFM, FUBO, FBRX, SOLO, ANIP, NPA, SOL, SOLY, LAC, ACTG, LGVW, BFT, GMBL, BRGGF, GAN, TCNNF, MSOS, GTBIF, VFF and CRLBF.

TAGS: ETFs | Investing | Markets | Small Cap | Stocks | Trading | U.S. Equity | Cannabis

More from Stocks

This Market Might Make Your Head Spin

James "Rev Shark" DePorre
Mar 8, 2021 4:40 PM EST

The rotation out of technology and into 'reopening' plays is driving the deceptive action.

'F' Is for $14

Mark Sebastian
Mar 8, 2021 2:53 PM EST

Ford as some serious FOMO behind it.

I Wouldn't Be Surprised if Palantir Technologies Worked Lower in the Weeks Ahead

Bruce Kamich
Mar 8, 2021 2:40 PM EST

Making recommendations about stocks that are thinly traded or are new issues is always a little 'dicey'.

How Does Dick's Sporting Goods Look Before the 'Big Game'?

Bruce Kamich
Mar 8, 2021 2:05 PM EST

Let take a look at the charts ahead of Tuesday's earnings release.

I'm Not Blowing Smoke With This 'Boring' Trade

Timothy Collins
Mar 8, 2021 1:46 PM EST

Given the rotation away from tech and growth, look for the market to at least make an effort at a breakout push here, taking PM with it.

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

  • 11:38 AM EST GARY BERMAN

    The INDU and DIA

    FIBOCALL: The INDU index and the DIA The INDU ...
  • 10:44 AM EST JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    "The Challenge of Short-Selling"
  • 08:40 AM EST PAUL PRICE

    Recent Pick SpartanNash (SPTN) Raised Its Quarterly Payout by 3.9%

  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 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