• 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
    • Bruce Kamich
    • Doug Kass
    • 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

This Continues to Be a Good Market for Stock Picking

There is some good dip buying on my screens in the early going.
By JAMES "REV SHARK" DEPORRE
Jan 05, 2021 | 10:37 AM EST
Stocks quotes in this article: SOL, XL, FUBO, BFT, FIII, VFF

The market mood has improved this morning after some struggled on Monday. It is likely that a large portion of the weak action was primarily a function of the calendar and repositioning for the new year, but there are many market participants that are worried that we are 'due' for a deeper correction.

The Georgia election seems like a good excuse for more profit taking, but maybe it's too obvious to generate a rush for the exits. The general belief is that if the Democrats prevail and win both seats, it will kill the gridlock that was the basis for the positive market reaction back in November. There are plenty of folks that are questioning that view, and it seems likely that the market may celebrate increased spending if the Democrats are in control.

There is some good dip buying on my screens in the early going. I've been a buyer of names such as RenaSola (SOL) , XL Fleet (XL) , and FuboTV (FUBO) . The SPACs have been sloppy lately but seem to be finding support. I'm building a position in Foley Transimene Acquisition (BFT) , and watch for entry points in other favorites like Forum Merger III (FIII) .

I am adding to a position in cannabis play Village Farms (VFF) . The cannabis group is likely to move on the Georgia election news, and I'm watching it closely. I'm inclined to be a buyer on selloffs.

This continues to be a good market for stock picking, and as we move past the end of the year manipulation, we should have better technical patterns to work with. The bulls are counting the days to disaster, but I'm sticking with long plays since they are still working well.

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, James "Rev Shark" DePorre was Long SOL, XL, FUBO, FIII, VFF.

TAGS: Investing | Markets | Stocks | Trading | Cannabis

More from Investing

Holding Up a Mirror to Ulta Beauty and Seeing a Tricky Technical Position

Bruce Kamich
May 27, 2022 8:01 AM EDT

Solid first-quarter results are sending shares of the beauty products retailer higher, but the question is whether that strong move will hold.

Don't Change the Channel on Roku

Bruce Kamich
May 27, 2022 7:37 AM EDT

Here's why the shares could stage a recovery.

Be Adaptable, Trade Tactically, Pretty Sweet Earnings, Death of Crypto?

Stephen Guilfoyle
May 27, 2022 7:36 AM EDT

Plus, to survive in this market you must be a jack of all trades and understand both the fundamental and technical sides of the investing coin.

Put Some Manpower to Work

Paul Price
May 27, 2022 7:00 AM EDT

As the markets start picking up, let's look at how to play MAN.

The Skinny on Navigating a Rotational Bear Market

James "Rev Shark" DePorre
May 27, 2022 6:47 AM EDT

Don't be too concerned about the indexes; instead, watch individual stocks and sectors and track new lows and breadth to identify where opportunity lies.

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

  • 02:46 PM EDT STEPHEN GUILFOYLE

    We're Shedding Some of This Holding on Strength

    Check out the Stocks Under $10 portfolio here!
  • 11:33 AM EDT PETER TCHIR

    Thoughts Ahead of the Fed Minutes

    Recent economic and earnings issues are convincing...
  • 02:24 PM EDT PAUL PRICE

    An Interesting Chart

    I'm betting heavily that stocks will be way up aga...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 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