|Day Low/High||14.92 / 15.69|
|52 Wk Low/High||3.52 / 21.93|
I see no reason to put much money into longer-term positions right now, but here are some of my biggest positions.
I continue to follow the 6 names and believe several of them will recover well.
I believe this is just bounce action at this point and not a bottom, but I'm playing it.
I've previously discussed why these six stocks are my top picks for 2020. I will periodically provide updates and discuss my strategy for trading them.
Here are my takes on stocks in biotech and other companies I own right now.
Given broader market weakness, this is a good time to take a look at these names and develop strategies.
It is highly unlikely that the indices are going to roll over and go straight down from here.
There will be other stocks that do better, but this one has the potential of a big gain but with limited downside.
My main focus is ending the year with accounts at highs and having plenty of cash on hand.
I learned from Jim Cramer long ago to focus on what can go right if you want to ride the momentum of stocks.
If you stick with the same old names every day, then you are an investor and not a trader; outsize gains require outsize efforts.
Aurinia Pharmaceuticals has 'lost its gravity.'
The trading action is not bad if you are selective and have short time frames.
The recovery has now occurred so fast that the bulls did not act quickly enough and are again struggling with Fear of Missing Out.
Some traders seem unsettled by a bit of downside volatility after not experiencing much of it of late.
A three-day pullback was exactly what this market needed at exactly the right time.
I tend to focus more on individual stocks and my job right now is to develop a list of names that I want to follow more closely as this action develops.
The market may need some rest and consolidation, but that doesn't mean it will produce a lot of downside.
Whether you see the indexes trading flat on Monday afternoon as good or bad depends on your outlook.
I am carrying a large cash balance -- but not because I'm bearish.
I'm optimistic that we will see some better stock picking action if the breakout holds and momentum continues.
With Aurinia Pharmaceuticals, the key is to be patient and to buy incrementally.
Computer algorithms will trigger volatility even if there is no surprise news.
If you are an index trader it is a tough call, but for stock-pickers it remains a very good trading market.
It's tough to do much while we await major news events.
Regardless of what is moving the markets, it is a good example of how you have to focus on price action above all else.