Stocks continue to run higher as traders aggressively chase the "hot" action.
It looks like gamma squeezes are moving names such as Tesla (TSLA) , Amazon (AMZN) , and Nvidia (NVDA) . Traders are also chasing "junk" names in the SPAC sector like Redbox (RDBX) and Wallbox (WBX) .
Volatility has picked up in some of the junk names that have been active lately as shorts try to target some of the most egregious situations, but there is still an appetite for action, and traders are piling in at the first sign that something is coming to life.
I haven't made many new buys today and am focused on managing positions. Some of the best action I see is in Marqeta (MQ) , Aehr Test Systems (AEHR) , Genius Sports Ltd. (GENI) , IonQ (IONQ) , Nio (NIO) , The Beauty Health Company (SKIN) , and Standard Lithium Ltd. (SLI) .
One name I am adding today is Ondas Holdings (ONDS) . This stock surged at the end of September following news that the company had acquired a drone company. The shares have languished for a few weeks on a lack of news, and I like the support at around $8.50. Ondas is working on a very large contract in the railroad industry that could come to fruition soon.
The action out there is a little frothy, and the gamma squeezes create an air of frenzy in a few names like Tesla, but overall the trend is your friend, and this trend is quite strong.