|Day Low/High||26.28 / 30.40|
|52 Wk Low/High||1.55 / 64.50|
One possible outcome: The party ends relatively soon for some of the more speculative names, while other high-multiple stocks remain strong until inflation and the Fed become issues.
Overall the action is relatively mild, which is quite healthy after the chaotic 'flash crash' that occurred yesterday.
If you are chasing higher, this is something worth watching in terms of risk management.
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Say watt? You want to chase EV stocks? How about shorting them? Let's see which is the crazier move.
This action tells us much more about the health and sentiment of this market than the S&P 500 which is trading flat.
The good news is that there's some dip buying support and several 'hot pockets' of strong speculative action.
This trade in the electric vehicle-related space doesn't rely on an unknown catalyst.
Wild speculative trading continues to be the most fascinating aspect of this market.
A positive aspect of this sort of action is that the best trading opportunities tend to stand out more.
Instead of searching for a market top, look for opportunities and then manage them tightly as this continues to be a market for stock pickers.
The best move here is to stay focused on stock picking but manage positions tightly.
When the indices aren't offering much opportunity money flows into individual speculative names.
It's better to be part of the mindless herd of buyers than join the erudite intellectuals that will tell you why the market is wrong.
This has the same dynamic as the Greece situation a few years ago.
No matter what happens with Iran, it is not going to be a major market positive.