|Day Low/High||10.85 / 11.56|
|52 Wk Low/High||9.83 / 20.48|
We're going to see some random action in front of the weekend.
The end of the quarter means a new round of quarterly reports is near, so it pays to keep an eye on favorite names.
Technology strengthens, while the Dow Jones industrial average and Russell 2000 lag.
The tricky part is that sector strength is shifting fast.
Action like this sometimes leads to a 'don't short a dull market' response.
I don't want to sound negative as it's a major positive that there isn't aggressive downside follow through.
Stocks with good charts, good fundamentals, and good stories are attracting buyers.
Here are some biotech and gaming names I am watching as these sectors begin to rotate.
Of 56 recent ARKK buys, only two are trading in positive territory Wednesday.
The good news is that this sort of action always eventually leads to great stock picking.
The best momentum on my screens right now are the U.S. cannabis plays that are referred to as Multi-State Operators.
It is premature to declare the rotation back into small-cap stocks is dead.
I'm feeling better about more aggressive stock picking, but I'm staying selective.
Rebuying a stock that you have previously sold can be an extremely powerful trading strategy.
I'm hoping that we see some more rotational action rather than a broad market correction.
Trading in biotech stocks and a particular SPAC play are on my mind.
Quite a few stocks are fading right now -- not due to poor fundamentals, but due to lack of buying interest.
I'm currently heavily invested in several stocks that are drifting around as I'm quite confident that the eventual catalysts will come.
So far today, aggressive stock picking is looking like a possibility.
Trading in multiple time frames allows for more concentrated positions and bigger returns while staying diversified and reducing risk.
The essence of great trading isn't about predicting the future.
The key to effective trading isn't predicting future price -- it's dealing with current price action.
There is so much going on right now that it is overwhelming.