It is choppy and sloppy out there on slightly negative breadth of about 3500 gainers to 3700 losers, but the market timing bears still can't catch a break. Some minor early weakness was bought and pushed the indices to highs but momentum is muted and there is very mixed action in FATMAAN names.
The pockets of speculative action continue to be pretty narrow but I'm still having good luck with stock picking. My Stock of the Week, Xeris Pharmaceuticals (XERS) , is doing what a Stock of the Week is supposed to do and is moving higher on strong momentum. It has now jumped 25% in two days.
I have some other trades on the screens right now such as BioDelivery Sciences (BDSI) , Aquestive Therapeutics (AQST) and Zovio (ZVO) , but my time frames are fairly short and I'm not building big positions.
I continue to be concerned about the price action of the indices but I can't complain about the stock picking. There is still good tradable action but if the indices take out the day lows the bears may finally feel a little relief. When stock picking is working like it is now, it helps to keep sentiment positive and that is why those shorts just aren't working.