|Day Low/High||13.85 / 14.87|
|52 Wk Low/High||9.83 / 20.50|
The best thing that can happen to this market technically are some pullbacks.
My bread and butter trade is to find stocks with solid fundamental stories and then aggressively trade the volatility around core positions.
The main themes are bitcoin, cannabis, stocks priced under $10, small biotechnology, and small-caps in general.
Study those charts and be ready to act as things develop.
This is how I am approaching the stock right now.
Small, aggressive traders are doing so well with the chasing that they are likely to continue for a while.
The folks that are waiting for the market collapse are going to have to keep waiting.
Last-minute tax planning, window dressing, and positioning are dominating the rather quiet action.
A few of these names continue to look good in 2021.
Aurinia Pharma has some positive catalysts, and I am taking partial gains in cannabis names as they remain strong.
The primary focus is on the price action in individual stocks rather than macro-arguments or the technical condition of the indices.
The primary problem is that there was just too much wild speculative action on Monday and Tuesday.
The best move right now is don't let losses grow and don't do much, if any, buying.
AUPH has two very large market opportunities for its voclosporin drug.
This great trading action comes in an environment with so many dramatic news headlines.
Don't be in a rush. The key to accumulating stocks in this environment is to move incrementally.
Biotechnology is always high risk but the right plays move unlike anything else.
Precious metals are an exception but electric vehicles and SPACs have lost their luster.
There are opportunities but you better be selective and move fast.
It isn't just the bears that would welcome a pullback in this market.
My main focus right now is on stronger defense.
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.