The trading action was poor this morning and breadth is still running three-to-four negative, but the pockets of trading action have been heating up as the "hot money" searches for some holiday trading.
The most interesting thing about holiday trading is that it has nothing to do with the indexes or news flow. It is primarily just a function of price action and a good story.
My list of stocks that are up more than 10% intraday is ramping up fast. Most of the big gainers are under $10, but there are some higher-priced names like Appian (APPN) and Jumia (JMIA) that are being chased.
I noticed Tuesday a strong volume surge in Widepoint (WYY) and bought some in anticipation of follow-through. I was lucky and the stock was halted this morning on news that it was rewarded a potential $1 billion contract with Homeland Security. I sold some of my shares, but this is such a huge deal for the small company that there appears to be a likelihood it could be chased during the holding trading period.
Another name on my radar right now is Elys Game Technology (ELYS) . The company provides a sports betting platform and had revenue growth of 43% in the third quarter. There is news Wednesday that it hired a new CEO effective Jan. 1. His resume appears to be very strong and in the holiday trading environment that may be all that is needed to take it higher.
A third name on my screen is a special purpose acquisition company, Northern Genesis Acquisition (NGA) . Bloomberg has previously reported the Lion Electric may be in talks with NGA for a merger deal. Lion's main attraction is that it already delivered a small order of trucks to Amazon (AMZN) .
These are some examples of the sort of trades that are "in play" during holiday trading. They are very fast, very high risk, and can fall apart without warnings, but if you are extremely quick, they offer potential.
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