This market is like being a kid trying to catch lightning bugs on a warm summer night. There's so much action going on that if you lose focus, you'll see everything but won't be able to catch anything.
Some of you might relate better to pick your poison. In any case, this market remains a stock picker's market, especially in the small-cap and microcap arenas. Shorting, especially small floats or in large percentages, is still a dangerous game. Case in point right now is The9 Limited (NCTY) and its 500%+ run this month while the short interest of 14%+ likely sits trapped or forced to buy. Even more impressive is the lack of option driving shares higher. The tiny five million share float is doing its part though.
With some valuations at nosebleed levels and companies dumping offerings onto the market left and right, the temptation to short definitely exists. Heck, I can't even keep up with the number of SPACs out there currently. Every time I turn around, we have a new one hitting the market. Even in that group, you need to hone your focus in on something. I would suggest founders that have already turned out previous winners, well known management, compiling a daily list based on stock or option volume, and a SPAC focused on a certain sector that may interest you. This could include SaaS, electric vehicles, green energy, cryptocurrency/blockchain, etc. In short, what you want to own or thing the market will grab hold of and run higher.
This is a market that will help you easily find dozens of reasons for you to beat yourself up. Trades that you missed. Ones that you sold too early. Missed fireflies, I mean, missed opportunities. Don't do that. And don't hesitate to take names off your screen that you've sold. Unless you are planning to get in and willing to get back in higher without beating yourself up, just remove them from your screen for a week or two. If you don't want to wait that long, then wait until you have some successful trades under your belt so you can avoid chastising yourself if your previous holding rocketed higher.
Simply stay focused. Take care of the mind and the trading will come.
As for me, I'll be spending the weekend de-icing and trying to keep the homestead from flooding, so I'm ducking out a bit before close today. I hope you all have a wonderful weekend!