Traders are active following another gap-up open. It is all about the stock-picking again, with breadth running 4850 gainers to 2725 decliners. Over 1400 names are hitting new 12-month highs, and the list of stocks moving more than 10% is a couple of pages long.
The key to this market continues to be to find the hot sectors. Bitcoin and Bitcoin-related names are hot, with Grayscale Bitcoin Trust (GBTC) , Marathon Patent Group, Inc. (MARA) , Canaan Inc. (CAN) , Bit Digital, Inc. (BTBT) , Xunlei Limited (XNET) , Riot Blockchain, Inc. (RIOT) and Greenpro Capital Corp. (GRNQ) jumping. Some of the cannabis names, like Village Farms International, Inc. (VFF) , AdvisorShares Pure US Cannabis ETF (MSOS) and Trulieve Cannabis Corp. (TCNNF) , are jumping back.
There is a mishmash of other names attracting attention, and their primary attributes tend to be lower price and a good story. The chatrooms are working hard on trying to create movement.
I continue to hunt for ways to put more capital to work. I do plenty of flipping into strength, so I have a good amount of cash to work, but it takes plenty of work to find new names.