The rotational action has diminished, and that is producing very broad buying and some good stock-picking. Breadth is running almost 4 to 1 positive, and the number of new 12-month highs is approaching 1,000.
What is most notable about the action Thursday is that the stock-picking is similar to what we had three weeks ago when small traders were chasing speculative small-caps. The Russell 2000 ETF (IWM) is leading the charge and is at a new all-time high, and this time the Nasdaq 100 ETF (QQQ) is keeping pace with a 2% jump as well.
The focus again is on stock-picking, but there is so much going on right now that it is overwhelming. The list of stocks moving over 10% is too long to count once again.
Some of the names I'm trading today include Vuzix Corp. (VUZI) , Alto Ingredients (ALTO) , Century Casinos (CNTY) , Golden Nugget Online Gaming (GNOG) , Xeris Pharmaceuticals (XERS) , Shift Technologies (SFT) , Aurinia Pharmaceuticals (AUPH) , CurrencyWorks (CWRK) , Canaan (CAN) , Enthusiast Gaming Holdings (ENGMF) , Butterfly Network (BFLY) , ReneSola (SOL) , ANI Pharmaceuticals (ANIP) , Trulieve Cannabis (TCNNF) , Village Farms (VFF) , Octernal Therapeutics (ONCT) , HyreCar (HYRE) , One (AONE) , AdvisorShares Pure U.S. Cannabis (MSOS) , and Westwater Resources (WWR) .
The market is basically acting like it was prior to the corrective action of the last three weeks. Some of the themes are different and there is some rotational action still but the bull market is back in full swing for now.